Monday January 25, 2016 0 comments
BOULDER -- A growing demand for agricultural robots is driving a worldwide market projected to grow from $3 billion in 2015 to $73.9 billion in 2024, according to a new report from Tractica.
The demand is the result of global trends of population growth, increasing strain on the food supply, availability and cost of farm labor, shrinking farmlands, climate change and the growth of indoor farming, Tractica said.
The market intelligence firm forecasts the worldwide market for ag robots will be led by driverless tractors ($30.7 billion by 2014) and drones (411,000 units shipped by 2024).
“The agricultural robotics market is in its early stage of development,” said Manoj Sahl, Tractica research analyst. “For sustainable growth in revenues, industry participants will need to pursue truly innovative technology and clear value propositions.
“The agricultural market is looking for more efficient solutions in terms of time, labor and energy rather than perfect ones.”
Tractica’s report, “Agricultural Robots,” looks at the global market and provides 10-year market sizing and forecasts for robot shipments and revenue between 2015 and 2024.
An executive summary of the report is available for free download on Tractica’s website.