Market Research Future (MRFR) will be publishing a cooked research report on the “Global Autonomous multifunctional agriculture robot Market” that contains information from 2018 to 2030.
MRFR recognizes the following companies as the key players in the global Autonomous multifunctional agriculture robot market: AgEagle Aerial Systems, Yanmar Holdings CO., LTD., Harvest Automation, CNH Industrial NV, Ecorobotix SA, Deepfield Robotics, Naïo Technologies, Ducksize, FarmDroid ApS, Nexus Robotics, PeK Automotive, AGROINTELLI, Advantech Farms Technologies Inc., Fendt Corporation, Agrobot, Korechi Innovations Inc., AgXeed, FFRobotics, MetoMotion.
The global autonomous multifunctional agriculture robots market was valued at USD 360.2 million in 2021 and is expected to reach USD 1,278.5 million by 2030 growing at a CAGR of 16.7%.
Autonomous Multifunctional Agriculture Robots enables farmers to focus more on enhancing overall crop yields by automating sluggish, repetitive, and dull processes. These robots are employed to reduce the need for human involvement, guaranteeing proper irrigation and resource usage. These robots are most useful for automated weed management, fertiliser application based on soil condition, and soil sensors for drip irrigation in rain-fed locations.
The growing global population and the requirement for increased productivity from the current farmland are putting pressure on the agriculture sector. The agricultural sector is now being impacted by certain issues, including shifting demography and urbanisation. In the US and the UK, among other nations, the agricultural sector depends heavily on migrant labourers, and this tendency is seen in other industrialised nations as well. According to data from the World Bank, employment in agriculture has decreased by 15% globally over the past ten years. An ageing farmer population further reduces the availability of manual labour, contributing to the labour shortage that has now become a global issue. Furthermore, Younger generations are less likely to continue farming, and children from farming families frequently relocate to urban areas in search of better employment opportunities. Due to this, current farmers have been working in the field for a long time. Due to this Autonomous multifunctional agriculture robot Market is expected grow significantly.
Furthermore, several robotic farming companies are creating robots for some of the most frequent tasks, including caring for and harvesting crops. For instance, the Xaver robot from Fendt, can carry out operations like weed management, scouting missions, and the planting and fertilising of crops like maize. San Diego-based Vision Robotics is developing "thinning" robots that make sure seeds are planted with enough space between them to hasten their growth. Thus, the advancement of technology and new inventions in agriculture robotics are boosting the demand for Autonomous multifunctional agriculture robot Market.
COVID-19 Impact Analysis
The global COVID-19 pandemic has hit the agriculture sector hard around the world. The effects of COVID-19 on the agricultural sector vary by region, but the main problems that have been reported include labour and equipment shortages, poor access to agricultural inputs, services, and advisory services, supply chain disruptions, and perishability of the products because of poor access to markets and inadequate post-harvest handling. Due to which the demand for agricultural robots including autonomous multifunctional agriculture robot has declined.
Electronic component has become an important part of Autonomous Multifunctional Agriculture Robots including autonomous multifunctional agriculture robot, though automotive parts still have a major share, but there has been rising use of other electrical components and semiconductor in agriculture robot. Critical components which are required for agriculture autonomous multifunctional agriculture robot such as capacitors and resistor were in shortage due to closure of manufacturing hubs and delays in production. Additionally, the trade restriction in the world has created fluctuation in raw material prices and manufacturing companies were concerned about rising raw material prices which further decline production of components. Global component manufacturing operation came to a halt and companies were structed by slowing down expenditure and declining industrial production, all these created an imbalance of demand and supply for components in the market. Thus, the covid impact on component manufacture was signifact.
The global Autonomous multifunctional agriculture robot market has been segmented on the basis of component and region.
The global Autonomous multifunctional agriculture robot market, based on component type, has been segmented into hardware, software, and services.
Key Findings of the Study: