Agricultural robots market size expected to reach USD 99.30 billion in 2030.

According to the Emergen Research, agricultural robots market size is expected to reach USD 99.30 million in 2030 due to the steady deployment of agricultural robots for farming.

The latest analysis report presented by Emergen Research indicates that, “Increasing Research and Development (R&D) activities in farm automation and rising food demand are some key factors driving global agricultural robot market revenue growth.”

The report further stated, “Decrease in workforce in the agricultural sector, steady development of agricultural robots, and shift to more advanced farming techniques and approaches are factors expected to continue to support revenue growth of the market.”

It highlighted that the market revenue of agricultural robots is expected to hit a CAGR of 34.4 percent over the forecast period. Stating the revenue projection, the report hinted that, “Revenue is projected to increase from USD 6.94 billion in 2021 to USD 99.30 billion in 2030.

“Increasing government encouragement such as subsidies provided to farmers toward the adoption of agricultural robots is driving market revenue growth,” it further highlighted.

Reporting on some of the restraints, the report highlighted, “However, concerns regarding high purchasing cost of agricultural products such as Unmanned Aerial Vehicles (UAS) and driverless factors are key factors hampering market revenue growth. Initial stage of robot installation is capital intensive, and many high-cost robots may not always provide sufficient Return on Investment (ROI).

“Also, lack of skilled personnel to handle such robots is expected to hamper market growth to some extent during the forecast period,” it stated.

Providing an analysis on technology and current trends, it stated, “Robot is a current trend that is contributing to growth of the agricultural robot market.

The report touched on geographical outlook emphasizing that, “Market in North America is expected to register a significantly robust revenue growth rate over the forecast period. Robust market revenue growth in North America is attributed to increasing R&D initiatives for modernizing farming. High disposable income of farmers also allows them to purchase agricultural robots to enhance productivity and yield on their farms.”

“Agricultural robots market size is expected to reach USD 99.30 million in 2030 due to the steady deployment of agricultural robots for farming”