Infinium Global Research Global Agriculture Robotics Market | Page 9

Global Agriculture Robotics Market: Trends and Forecast -2023
EXECUTIVE SUMMARY
GLOBAL AGRICULTURE ROBOTICS MARKET HIGHLIGHTS, (USD MILLION)
The global agriculture robotics market was worth USD XXX.X million in 2015 and it
is projected to reach USD 2718.8million in 2023, expanding at a CAGR of 23.4%
between 2017 and 2023. The global agriculture robotics market is driven by the
factors such as growing awareness about mechanized agriculture to increase yield
and profitability among the farmers, and rising awareness about precision farming.
However lack of technical expertise and lack of service centers in emerging markets
is one of the key restraining factors in the global agriculture robotics market.
North America dominates the world agriculture robotics market in terms of dollar
share, while Asia-Pacific is anticipated to grow at the highest CAGR over the
forecast period. The growth in the Asia-Pacific region is primarily driven by
emerging economies such as India, China and Indonesia.
North America is the largest revenue generating region and it is mainly driven by
large scale production and applications of agriculture robotics in its prime markets
such as The U.S. and Canada. Moreover, Asia-Pacific is expected to growth at the
highest CAGR of 17.5% over the forecast period. Some of the key players in the
global agriculture robotics market are Harvest Automation, Inc., Yamaha Motor
Corporation (Precision Agriculture), GoPro., AGCO CORPORATION, Bou Matic
Robotics BV, Ag Eagle Aerial Systems, Inc, and Blue River Technology, Inc. among
others.
GLOBAL AGRICULTURE ROBOTICS MARKET, 2015 – 2023 (USD MILLION)
Agriculture robotics market is expected to experience significant growth globally.
The global market for agriculture robotics is expected to grow at a CAGR 23.4%
over the period of 2017 to 2023, significant growth in application industries is
expected to impact the growth rate over the forecast period.
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