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(IT-NEWSWIRE.COM, November 24, 2018 ) The agricultural robots market is expected to grow from USD 2.75 Billion in 2016 to USD 12.80 Billion by 2022, at a CAGR of 20.71% between 2017 and 2022. The increasing focus on farm-efficiency and productivity is expected to propel the growth of the agricultural robots market. The base year considered for the study is 2016 and the market size forecast is provided for the period between 2017 and 2022.
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Hardware component expected to lead the agricultural robots market
The hardware component is expected to hold the largest share of the agricultural robots market between 2017 and 2022. The hardware components include automation and control systems, and sensing and monitoring systems. Automation and control systems such as global positioning system (GPS) receivers, guidance and steering devices, and variable rate technology (VRT) devices form a major part of the agricultural robots market. These hardware components have the largest share of the overall agricultural robots market owing to their extensive use in field farming technologies.
Agricultural robots market for weather tracking and forecasting expected to grow at the highest rate between 2017 and 2022
Weather tracking is one of the important parameters in agriculture as this application facilitates up-to-date information on prevailing climatic conditions, such as temperature, rain, wind speed and direction, and solar radiation. There are various kinds of devices used for this application, which include handheld instruments and on-field weather stations. Weather tracking helps in taking decisions before severe and potentially dangerous climatic conditions occur, thereby protecting a farmer’s family or business.
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Americas held the largest share of the agricultural robots market in 2016
The Americas held the largest share of the agriculture robot market in 2016. This growth is attributed to the increased industrialization of farming equipment with the need for improved efficiency and productivity to meet the global demand for food. Efficient farming requirements, high production accuracy, and increased use of farm management software are some of the factors for the growth of the agricultural robots market in the Americas.
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Some of the major players in the agricultural robots market are Deere & Company (U.S.), Trimble, Inc. (U.S.), AgJunction, Inc. (U.S.), and AGCO Corporation (U.S.).
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