Agricultural Tractor Robots Market Size to Reach $3.2 Billion by 2024: Radiant Insights, Inc.

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Radiant Insights, Inc.

15 Jan, 2019, 11:20 GMT

SAN FRANCISCO, January 15, 2019 /PRNewswire/ --

Global agricultural tractor robots market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. The factors that propel the growth of the agricultural tractor robots market include the growing population and increasing food consumption, reduced time & manpower and high acceptance of precision farming. On the other hand, there are factors that may hamper the growth of the market including high cost due to complex machinery and strict government regulations and policies. Agricultural tractor robots market may be explored by type, application, and geography. Agricultural tractor robots market may be explored by type as Materials management, UAV, Milking robots, and Driverless tractor. The "Milking robots" segment led the agricultural tractor robots market in 2017 and is anticipated to maintain its dominance by 2024.

Agricultural tractor robots market could be explored based on the application as Animal management, Field farming, Dairy management, Crop management, and Soil management. The "Dairy management" segment led the agricultural tractor robots market in 2015 and is anticipated to maintain its dominance by 2024. Agricultural tractor robots market is categorized based on geography into North America, Latin America, Japan, Middle East, and Africa, Western Europe, Asia Pacific, and Eastern Europe. The "North America" segment led the agricultural tractor robots market in 2015 and is anticipated to maintain its dominance by 2024. The key factors that could be attributed to the growth include the high occurrence of vendors for agriculture robots, the presence of higher farming land, and increase agricultural production. The key players contributing to the robust growth of the agricultural tractor robots market comprise GEA Group, DE Laval, AGCO, Autonomous Tractor Corporation, Autonomous Solutions Inc., Lely, John Deere, Harvest Automation, Deerfield Robotics, and Clear Path Robotics. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Worldwide markets are poised to achieve continuing growth as Agricultural Tractor Robots proves its value by managing digital farming and implementing self-driving capabilities and features in real time provide farming management. The agriculture industry is a $5 trillion industry representing 10% of global consumer spending, 40 percent of employment and 30 percent of greenhouse gas emissions globally. Robotic tractors are positioned to help agriculture to be more precise, more efficient, and more productive. Use of much small tractors will help the soil base, creating less impact on compaction. Agricultural efficiency improvement is impactful to humanity, changing the size of population, quality of life and making a better future. Agricultural self-driving features for tractors are the beginning of a full rollout of robot technologies. Self-driving features in place depend on having a human control the tractors initially. This is a first step in building fully autonomous tractors. One of the main objections to completely trusting self-driving tractors seems to be the fear of potential accidents. When the vehicles are running unattended there are often obstacles encountered that may cause problems, raising the specter of ruining the tractor. A $185 million market worldwide in 2017, the Agricultural Tractor Robots market is expected to reach $3.2 billion by 2024.

Companies Profiled 

Market Leaders:  

  • John Deere
  • AGCO (Fendt)
  • CNH Global (Case IH)
  • Autonomous Tractor Corporation

Key Topics: 

  • Agricultural Tractor Robots
  • Agriculture Internet of Things
  • Digital farming
  • Self-driving tractors
  • Robotic Tractor Advanced Sensors and Guidance Systems
  • Agriculture industry
  • Harvest Automation

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