Global Agricultural Robots & Mechatronics Market - Growth, Trends, and Forecast (2019 - 2024)

NEW YORK, Jan. 21, 2020 /PRNewswire/ --

Need for Low Farming Costs and High Yield to Drive the Market

The major driving factor behind the market is the necessity to increase yields and reduce costs at the same time. They vastly reduce human intervention, are much more efficient, help avoidance of harmful effects of chemicals used in agriculture on humans, especially in indoor farming, and can work in all weather conditions. The major hurdle in the market is the affordability. Robots and mechatronics are a huge investment for farmers. Various farms require various farming methods, and the same robot cannot be used for all types of farms. Even though robots and mechatronics are fast evolving, there is still a large amount of development needed in agricultural applications.

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Market Segmentation
The market is segmented into autonomous tractors, UAVs, agrochemical applicators, robotic milking devices, and others depending on the type of usage. Usage area segmentation is done by animal farming, crop production, forest control, etc. Market studies show that crop production is the largest segment in terms of revenue. It is also growing at a faster rate in comparison to others. Robotic milking devices are widespread in developed countries and can be termed as a successful adoption of mechatronic robots in farming.

North America is the largest market with many established companies, followed by Europe and Asia-Pacific. The growing population and decreasing farmlands make Asia-Pacific a region with immense opportunities. However, technology adoption is low due to abundant cheap labor in these countries.

Key Industry Players
The leading companies in this market are AGCO, Autonomous Solutions (ASI), Autonomous Tractor Corporation, Class, CNH Industrial, GEA Group, Harvest Automation, John Deere, Shibuya Seiki, Trimble Navigation, and Yamaha Motor Company.

Key Developments in the Market
- September 2017: Autonomous Solutions (ASI) - In early 2017, AccuGuide for Case IH was unveiled for the first time. The AccuGuide, which is developed by ASI and CNH Industrial's Innovation Group, is an automated steering system that utilizes advanced technology to plan the end of row turns in the headlands of a field.
- May 2016: Harvest Automation - Pioneering agricultural automation machines company Harvest Automation sold its robotic warehouse automation technology and business to focus on robotic material handling in a variety of agriculture markets.

Reasons to Purchase the Report

- To study the current and future market in the developed and emerging regions.
- Analyzing various perspectives of the market with the help of Porter's Five Forces Analysis.
- Identify the segment that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).

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