Agricultural Robots Market Size

Agricultural Robots Market Analysis

The Agricultural Robots Market size is estimated at USD 14.97 billion in 2024, and is expected to reach USD 27.71 billion by 2029, growing at a CAGR of 13.10% during the forecast period (2024-2029).

• Agricultural robots, also known as agribots, are one of the latest revolutions in the agriculture industry. They are autonomous machines employed to improve the quality and efficiency of yield, increase overall productivity, and minimize reliance on manual labor. With the growing population, the demand for food is rising at a rapid pace globally. Thus, farmers are now shifting toward modern tools and equipment, such as agricultural robots, to boost their total productivity and generate more revenue.
• Furthermore, governments across the world are offering subsidies and undertaking initiatives to propagate awareness about automated technologies among farmers. For instance, in 2021, the European Union launched projects, such as Robs4Crops, from farming controllers and smart implements to fully autonomous farming systems. Robs4Crops (a new project) is helping farmers fill the labor shortage, which is shaking up the farming landscape. This is likely to enhance the scope of the agricultural robots market.
• Moreover, several established and start-up agricultural companies are investing in research and development activities to introduce an innovative range of agricultural robots. For instance, in 2021, AGCO Corporation launched the pilot of its Precision Ag Line (PAL) program, a tool designed to streamline support services for farming customers using AGCO solutions with mixed-fleet operations.