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18 Apr 2024
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Agri Technology


Precision agriculture robot market size projection to reach USD 18.18 billion by 2027

Precision agriculture robot market size projection to reach USD 18.18 billion by 2027

The global Precision Agriculture Robot market size is projected to reach USD 18.18 billion by 2027, from USD 2.285 billion in 2020, at a CAGR of 33.5 percent during 2021-2027.

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Global Precision Agriculture Robot Market

CALIFORNIA, 24 June 2021: The global Precision Agriculture Robot market size is projected to reach USD 18.18 billion by 2027, from USD  2.285 billion in 2020, at a CAGR of 33.5 percent during 2021-2027.

Precision Agriculture (PA) is a farming management concept based upon observing, measuring, and responding to agriculture. It was born in the early 1990s for the introduction of GPS guidance for tractors.

Now it is a dynamic industry that mentioned lots of technologies, such as ecological based principles, plant genetics, technological advances in planting and application equipment and plant and soil sensors, and knowledge to vary management, to improve system efficiency, resilience, and adaptability, according to QY Research report.

Market Analysis and Insights

Farmers have always been diligent data collectors, knowing approximately what each acreage yields or how much milk an individual cow produces. But with the complex data collecting devices of today’s world, agriculture is in the midst of a high-tech revolution—particularly in the area of precision farming.

Farmers can use the same “big data” tools that are integrated into other industries. Things like drones that communicate with satellites to collect data while soaring over a field.

The internet of things era means just about anything in our lives can be linked to a WiFi connection and the same applies to farming. For example, Wifi-enabled moisture sensors can help farmers conserve water by only watering parts of the field that need it most, the report added.

Cow tags can be linked to GPS or even “Fitbit-like” devices to track their vitals remotely. Most machines can be programmed to use machine learning; for example, fertilizer application equipment can be trained to “see” a field and only spray plants that need a boost, saving farmers product and money.

Global Precision Agriculture Robot key players include John Deere, Trimble, AGCO, DeLaval, Lely, etc.

Europe is the largest market, with a share of about 37 percent, followed by the United States, with a share of over 30%. In terms of product, Outdoor Farming is the largest segment, with a share of over 70 percent, and in terms of application, the largest application is Planting, followed by Animal Husbandry.

Image credit: inseadssup.com


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