Agricultural Robots Market

Market Leadership - Agricultural Robots Market

The agricultural robots market is projected to grow from USD 4.6 billion in 2020 to USD 20.3 billion by 2025; it is expected to grow at a CAGR of 34.5% from 2020 to 2025. Increasing the requirement of automating repetitive and laborious tasks, coupled with the reluctance of new farmers to enter into the agricultural industry, is leading to the automation of various agricultural processes. Decreasing costs of automation technologies such as the Internet of things (IoT) and global positioning systems (GPS) is expected to make automated farming products affordable to a large number of farmers worldwide. Active development of agricultural robots and their adoption from fruit harvesting to weed removal applications is expected to contribute to the growth of the agricultural robots market.

Although the agricultural robots market is growing at a steady pace, it is moderately competitive owing to the presence of several key global players, as well as several startups playing a key role in the growth of the market. Key strategies adopted by these players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches. For instance, in April 2019, Trimble (US) announced the launch of the Farmer Core software that integrates machine-generated data to simplify setup and streamline operations for various farming activities. It is an entry-level software subscription, which is accessible to a large number of farmers. In March 2018, AGCO Corporation (US) announced the launch of a seeding swarm robot, Xaver, to be marketed and sold under the Fendt brand. This robot operates in a swarm and uses cloud connectivity to precisely plant corn using an intelligent fleet management system. Apart from this, market players have also adopted the strategies of partnerships and collaborations to enhance their product portfolios and expand their geographical reach. For instance, in May 2019, AgJunction (US) announced a collaboration with Swift Navigation (US) to develop low-cost, autonomous tractors for agricultural applications to provide affordable solutions to farmers worldwide.

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AGCO Corporation (US) was incorporated in 1991 through an acquisition (management buyout) of Deutz-Allis from KHD (Germany). The company started producing its manufacturing and farm equipment under the brand name of AGCO Allis and Gleaner. The products of the company are sold through 5 brands, namely, Challenger, Fendt, Grain Storage International (GSI), Massey Ferguson, and Valtra. AGCO Corporation operates in 6 major segments, namely, tractors, replacement parts, grain storage, and protein production equipment, combine harvester, application equipment, and other machinery. AGCO Corporation is one of the leaders in the design, manufacture, and distribution of agricultural robotic solutions, which include a line of tractors. It offers harvesters, hay tools, sprayers, and forage and tillage equipment. The agricultural robots segment of the company also provides guidance and autonomy services, telematics and data services, diagnostics, seeding and application controls, yield monitoring and advanced sensors, displays and mobile applications, and grain storage monitoring services. AGCO has its regional headquarters in China, Switzerland, Australia, and Brazil, with subsidiaries offering sales, administration, manufacturing, assembling, and distribution facilities in over 30 countries. Some of the subsidiaries of the company are AGCO Austria GmbH, AGCO Danmark A/S, AGCO Trading India Pvt. Ltd., AGCO (Changzhou) Agricultural Machinery Co. Ltd., and AGCO México.

AgJunction (US), which operated as a fully owned subsidiary of Hemisphere GPS (US) till May 24, 2013, primarily designs and manufactures global positioning systems (GPS) for positioning, guidance, and machine control applications in precision agriculture applications. The company holds over 130 steering and machine control patents for use in navigation applications. Its products are marketed under three brand names that include Novariant, Wheelman, and Whirl. The Wheelman navigation system is compatible with over 850 models of farm equipment, while the portable Wheelman Flex portable version offered by the company can be easily moved from one farm equipment to another. AgJunction manufactures precision agriculture components for over 30 manufacturers and OEMs, which mainly include manufacturers of tractors and other farm vehicles such as combines and tillers. The company has its presence in countries such as the US (Arizona and California), Canada, Australia, and China. It operates in North America and Asia Pacific through manufacturers, distributors, and dealers that support customers involved in agricultural production in numerous locations worldwide.

Related Reports:

Agricultural Robots Market by Offering, Type (UAVs, Milking Robots, Driverless Tractors, Automated Harvesting Systems), Farming Environment, Farm Produce, Application (Harvest Management, Field Farming), Geography - Global Forecast to 2025

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Report Code
SE 5080
RI Published ON
6/29/2020
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