autonomous multifunctional agriculture robot Market Share

Global Autonomous multifunctional agriculture robot Market Overview:

Autonomous Multifunctional Agriculture Robot Market Size was valued at USD 0.35 billion in 2022. The Autonomous multifunctional agriculture robot market industry is projected to grow from USD 0.40 Billion in 2023 to USD 1.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.70% during the forecast period (2023 - 2030). Shortage of manpower, growing labor costs, and knowledge of robots are the key market drivers enhancing the Autonomous multifunctional agriculture robot market growth.

Source: Secondary and Primary Research, MRFR Database and Analyst Review

Autonomous multifunctional agriculture robot Market Trends

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  Lack of workers and rising labor costs will boost Autonomous multifunctional agriculture robot market growth

  
  

Due to a decline in farming enthusiasm and an aging farmer population, the workforce in agriculture has dropped recently. Farmers are under pressure to maintain productivity to meet the rising demand for fresh products while the population of agricultural employees continues to shrink. Also, the rise in labor costs is translating into rising labor pay. Also, the agricultural sector relies on laborers in many industrialized nations, like the United States, the United Kingdom, and others; this is a common tendency. According to World Bank data, agriculture employment has decreased by 15% globally over the past ten years. An aging farmer population further reduces the availability of physical labor, contributing to the labor shortage that has now become a worldwide issue. Hence, automated farming technologies can aid in easing the stresses caused by the manpower shortage in agriculture. Agtech can improve agricultural systems' efficiency and boost overall production.

As a result of the labor shortfall, stakeholders are considering ways to modernize the farms. For instance, according to research from the American Farm Bureau Federation (AFBF), 56% of US farms already employ agritech, with more than half citing a manpower shortage as the cause. Some cutting-edge agrotech applications are wireless sensors, robots, predictive forecasting models, and data analytics. As a result, rising salaries and labor shortages fuel the Autonomous multifunctional agriculture robot market expansion. Thus, this factor is driving the Autonomous multifunctional agriculture robot market CAGR.

Moreover, Robotics are increasingly being used in agriculture to enhance operations. In addition, rising demand for autonomous multipurpose agriculture robots that can undertake plant inspection, sowing, and harvesting encourages Autonomous multifunctional agriculture robot market expansion. Applying artificial intelligence, sensor technologies, and vision cameras to increase agricultural yield while using less arable land drives the expansion of the Autonomous multifunctional agriculture robot market. Also, there are many chances as people become more aware of contemporary agricultural practices, including agribusiness, intensive farming, organic farming, precision farming, smart farming, and sustainable agriculture. The expanding worldwide food demand drives the market for Autonomous multifunctional agriculture robots. Also, the growing use of robots in the Autonomous multifunctional agriculture robot market expansion potential.

The expansion of the Autonomous multifunctional agriculture robot market is supported by rising consumer demand to boost fruit and vegetable, and grain output. Also, a decline in arable land drives the market need for indoor and vertical farming. Furthermore, the need for autonomous multifunctional agriculture robots is growing due to increasing pressure to improve the sustainability and profitability of farmers throughout the world. Also, the market's expansion is aided by the rising demand for agricultural robots equipped with 3D cameras that scan the data gathered and analyze information, enhancing certain activities. The growing market expansion supported by Autonomous multifunctional agriculture robots for monitoring creates several prospects. The digitalization of farms will inevitably advance because more trained workers are needed to pick fresh crops. Thus, this aspect is anticipated to accelerate the Autonomous multifunctional agriculture robot market revenue globally.

Autonomous multifunctional agriculture robot Market Segment Insights:

Autonomous multifunctional agriculture robot Component Insights

Based on Components, the Autonomous Multifunctional Agriculture Robot Market segmentation includes Hardware, Software, and Services. The Hardware segment held the majority share in 2022, contributing to around ~65-67% of the Autonomous Multifunctional Agriculture Robot Market revenue. Hardware is the largest of these categories. The Autonomous multifunctional agriculture robot market for the category was worth USD 0.21 bn in 2022, and it will expand at a 15.8% CAGR during the study period. Many benefits may be realized by automating the farms, including eliminating human labor in inclement weather, accuracy, remote monitoring, and more.

In contrast to open-source web applications, which require an internet connection, our built web applications may operate on a local network as long as the machine is linked to the Internet. In addition, compared to the open-source farming robot that is typically used, it is convenient and simple to build more functions and improve the ones currently there. The entire designed system has undergone testing.

Figure 1: Autonomous Multifunctional Agriculture Robot Market, by Component, 2022 & 2030 (USD billion)

Source: Secondary and Primary Research, MRFR Database and Analyst Review

Autonomous multifunctional agriculture robot Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America Autonomous multifunctional agriculture robot market accounted for USD 0.2 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The growing digitization and automation influence autonomous multifunctional agriculture robot Market expansion in agriculture-related industries and agricultural practices, including vertical and indoor farming. Also, there is a significant market need due to the growing use of contemporary agricultural practices like smart farming, precision farming, and others. Also, this Region's significant concentration of important industry players and easy access to highly qualified technical skills encourage Autonomous multifunctional agriculture robot market expansion. For instance, Santa Monica-based Future Acres introduced Carry, its first robot, in 2021 to take on the task of grape harvesting. Carry uses AI in conjunction with humans to convey hand-selected crops. As a result, the agricultural robotics industry in North America is expanding due to lowering labor scarcity issues and offering new products that meet farmers' demands.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Autonomous Multifunctional Agriculture Robot Market SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

A profitable market is developing in Asia Pacific autonomous multifunctional agriculture robot market. The expanding population, the rapid depletion of available water and arable land, and the need for farm personnel increase the market size. Moreover, the Region's market shares are accelerated by the rising demand for organic foods and significant technological and innovative improvements. Moreover, China's Autonomous multifunctional agriculture robot market held the largest market share, and India's Autonomous multifunctional agriculture robot market was the fastest-growing market in the Asia-Pacific region.

Due to its extensive technological advancements, Europe Autonomous multifunctional agriculture robot market shows the largest increase among the main European nations. The proliferation of robots and agribusiness businesses promotes market profits. This Region's enhanced, highly reliable Internet access increases market shares. Further, the Germany Autonomous multifunctional agriculture robot market held the largest market share, and the UK Autonomous multifunctional agriculture robot market was the fastest-growing market in the European Region.

Autonomous multifunctional agriculture robot Key Market Players & Competitive Insights

Leading market players invest a lot of money in R&D to expand their product portfolios, which will spur further market growth for Autonomous multifunctional agriculture robots. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their global presence. To grow and remain in a market that is becoming increasingly competitive, Autonomous multifunctional agriculture robot industry competitors must provide affordable products.

Manufacturing locally to cut operational costs is one of the main business tactics the Autonomous multifunctional agriculture robot industry uses to serve customers and increase the market sector. The Autonomous multifunctional agriculture robot industry has recently given medicine some of the most important advantages. The Autonomous multifunctional agriculture robot markets major players such as AgEagle Aerial Systems, Yanmar Holdings CO LTD, Harvest Automation, CNH Industrial NV, Ecorobotix SA, and others are working on expanding the market demand by investing in research and development activities.

A maker of diesel engines, heavy equipment, and agricultural gear, Yanmar Co., Ltd. was established in Osaka, Japan, in 1912. Among the many uses for Yanmar engines are seagoing vessels, recreational boats, construction equipment, agricultural equipment, and generator sets. In addition to offering various remote monitoring services, and builds and distributes aquafarming and temperature control equipment. Yanmar America and Front Row Motorsports have a partnership. With this collaboration, Yanmar made a return and is currently focusing on portfolio expansion .in July 20, 2022.

Technology-advanced miniature unmanned aerial vehicles and drones are designed, developed, distributed, and supported by the company for the precision agricultural business. AgEagle stated in April 2021 that it had acquired Measure Global Inc. to become the top supplier of comprehensive drone solutions. The company's primary objective is to buy and merge the best drone technology currently on the market to offer customized, American-made drone solutions around the globe.

Key Companies in the Autonomous multifunctional agriculture robot market include

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  AgEagle Aerial Systems

  
  


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  Yanmar Holdings CO LTD

  
  


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  Harvest Automation

  
  


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  CNH Industrial NV

  
  


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  Ecorobotix SA

  
  

Autonomous multifunctional agriculture robot Industry Developments

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  June 2022: The British firm Small Robot Company (SRC), which develops agricultural robots, has revealed intentions to introduce its robots at about 50 farms throughout the 2022–2023 growing season.

  
  


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  April 2022: New Holland Agricultural announced the dealer network in the Republic of Ireland. To cover the counties of Wexford and Carlow, this dealer network combined New Holland agricultural machinery with Donohoe.

  
  


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  February 2022: The robot-as-a-service (RaaS) concept was introduced by Verdant Robotics to ensure that more producers of specialty crops could satisfy their desires for more lucrative and sustainable growing methods.

  
  


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  February 2022: During the World Ag Expo 2022, Naio Technologies introduced the Orio agricultural robot. Herbicide alternatives like Orio respect soils, enhance working conditions and gather information for smart farming.

  
  


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  January 2022: A tractor that is fully autonomous and prepared for mass manufacturing was shown off by John Deere. A GPS navigation system, a TruSet-enabled chisel plow, a Deere 8R tractor, and other cutting-edge technology are all included in this equipment.

  
  


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  January 2021: MicaSense was purchased by AgEagle for $23 Million. AgEagle improved commercial drone systems and solutions for several quickly expanding industry sectors. Drones that used MicaSense imaging technology could rapidly inspect emergency landing zones and confirm and assist successful deliveries.

  
  

Autonomous multifunctional agriculture robot Market Segmentation:

Autonomous multifunctional agriculture robot Component Outlook

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  Hardware

  
  


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  Software

  
  


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  Services

  
  

Autonomous multifunctional agriculture robot Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America