The milking robots market is expected to grow from USD 1.20 Billion in 2016 to USD 2.48 Billion by 2023, at a CAGR of 11.06% between 2017 and 2023. The increasing adoption of automatic milking systems owing to various benefits associated with them, such as low dependence on manual labor, increased milk yields due to more frequent milking, and reduced labor cost, is a major driving factor for the milking robots market.
The milking robots market report has been segmented on the basis of offering, system type, herd size, and region. On the basis of offering, the milking robots market has been classified into hardware, software, and services. The hardware segment has been further segmented into automation and control devices; and sensing and monitoring devices. Several factors, such as standardization of hardware and software systems, enhanced performance of these hardware and software systems, and reduced time and cost associated with automated milking systems, are encouraging the farm owners to adopt different types of milking robots. The hardware offering segment is projected to lead the milking robots market during the forecast period. The market for services is expected to grow at the highest CAGR between 2017 and 2023.
On the basis of system type, the milking robots market has been classified into single-stall unit, multi-stall unit, and automated milking rotary. The manual milking of dairy cows is a costly and time-consuming process due to large-scale labor involvement. Hardware and software milking solutions enable automatic identification of livestock and data capturing, which results in accurate and quick tracking of dairy cows for the milking process.
On the basis of herd size, the milking robots market has been segmented into below 100, between 100 and 1,000, and above 1,000. The high growth of this segment can be attributed to the increasing adoption of automated milking systems, such as single-stall unit, multi-stall unit, and automated milking rotary, by dairy farm owners. Owing to the increasing demand for dairy products, an increasing number of large herd size dairy farms are expected to be set up in the future in countries such as China, India, Japan, and Australia. Owing to the abovementioned reasons, the milking robots market for herd size above 1,000 is expected to grow at a high rate.
A major factor restraining the growth of the milking robots market is the high initial investment. Milking robots require high initial investments, efficient management tools, and skilled and knowledgeable farmers for the uninterrupted and effective use of technologies. Farmers have to make huge investments in automation and control devices, monitoring and sensing technologies, and robotic equipment. These robotic equipment also have high installation and maintenance cost. The impact of this restraint is currently high on the market, due to the high prices of milking robotic systems and devices. Most farmers worldwide are marginal or small dairy farmers who find it difficult to invest in such expensive equipment.