Agriculture robots are autonomous machines used in agriculture to perform a variety of tasks with greater efficiency compared to humans. Agriculture robots help in performing farm operations with precision and minimum supervision such as seeding, weeding, spraying, harvesting and more. They are integrated with advanced technologies such as Internet of Things, machine vision and artificial intelligence to autonomously carry out different functions in farming. Robots increase agricultural productivity and yield as they can work for longer hours without fatigue. Additionally, they help reduce production costs by minimizing manual labor requirements.

The global Agriculture Robots Market is estimated to be valued at US$ 13.24 Bn  in 2023 and is expected to exhibit a CAGR of 6.5%  over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity

The increasing growth and yield opportunity will drive the agriculture robots market. Robots can increase agricultural productivity significantly by continuously working in fields. They help maximize crop yield through precision farming techniques. For instance, they can administer precise amount of water, fertilizers and pesticides autonomously based on the crops' needs. This leads to enhanced and optimal utilization of resources. Moreover, minimization of manual labor further reduces production costs for farmers. The dual benefits of increased outputs and decreased costs will augment the adoption of agriculture robots among farmers globally.

Porter’s Analysis
Threat of new entrants: Low barriers due to requirement of significant R&D and capital investments act as entry barriers.
Bargaining power of buyers: High due to presence of large number of established players and product differentiation.
Bargaining power of suppliers: Moderate due to availability of substitute raw materials.
Threat of new substitutes: Moderate threat from new technologies such as AI and IoT in agriculture.
Competitive rivalry: High due to presence of large international players.

SWOT Analysis
Strength: Large expenditure on R&D, development of technologically advanced products, global presence.
Weakness: High initial investment requirement, dependence on various climatic conditions.
Opportunity: Rapid growth in emerging markets, development of precision farming techniques.
Threats: Low farmer acceptance in developing nations, trade barriers imposed by governments.

Key Takeaways
The global Agriculture Robots Market Size is expected to witness high growth.

Regional analysis: Asia Pacific region currently dominates the market and is expected to maintain its lead position over the forecast period driven by factors such increasing population and declining arable land in countries such as China and India. Europe follows Asia Pacific in the market and is a major export hub for agriculture robots globally.

Key players: Key players operating in the Agriculture Robots market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., , td., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc., Energy Chemical.

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