ICT & Electronics Global Agricultural Robots Market (2016-2024) | Page 7

increasing demand for food is the major factor fostering the growth of
global agriculture robot market over the forecast period.
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Geographically, global agriculture robots market is segmented into five
major regions including North America, Europe, Asia Pacific, Latin
America and Middle East & Africa region. North America region is
dominating the global agriculture robots market and has captured highest
share among all regions. Agriculture robots market in North America
region stood at a valuation of USD 225.5 Million in 2016. Further,
North-America region is expected to continue its dominance over the
forecast period on the account of the adoption of advanced robotics in
agriculture sector. In terms of share, Europe region is the second biggest
market of agbots and is anticipated to witness a remarkable growth over
the forecast period. Moreover, agricultu re robots market in Asia Pacific
region is anticipated to flourish at a compound annual growth rate
(CAGR) of 11.2% over the forecast period. Population growth, reducing
farmable land and rising demand for grains & vegetables are driving the
growth of agriculture robots market in Asia Pacific region. Middle East
& Africa and Latin America regions are also envisioned to witness a
satisfactory growth over the forecast period.
Market Segmentation
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