AGRICULTURAL ROBOTS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Agricultural Robots Market Analysis:

The market size of Agricultural Robots is projected to be valued at USD 13.24 billion in 2023, with an expected growth to reach USD 24.50 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 13.10% during the forecast period of 2023–2028.

Agricultural robots, also known as agribots, represent a significant advancement in the field of agriculture. These autonomous machines are utilized to enhance the quality and efficiency of crop production, increase overall productivity, and reduce dependence on manual labor. The escalating global population has led to a surge in food demand, prompting farmers to adopt modern tools and equipment, including agricultural robots, to augment their productivity and generate higher revenue.

Furthermore, governments worldwide are providing subsidies and implementing initiatives to promote awareness about automated technologies among farmers. For instance, in 2021, the European Union initiated projects like Robs4Crops, which encompass farming controllers, smart implements, and fully autonomous farming systems. Robs4Crops, a novel undertaking, aims to address the labor shortage in agriculture, thereby expanding the potential of the agricultural robots market.

Additionally, numerous established and emerging agricultural companies are investing in research and development endeavors to introduce innovative agricultural robots. As an example, in 2021, AGCO Corporation launched the pilot program of its Precision Ag Line (PAL), a tool designed to streamline support services for farming customers utilizing AGCO solutions with mixed-fleet operations.

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