Agriculture Robots Market Accelerates at 18% CAGR to Reach US$ 37.05 Billion by 2033

Expanding at a high-value CAGR of 18%, the global Agriculture Robots Market is projected to reach a valuation of US$ 37.05 billion by the end of 2033, according to a study by Fact.MR, a market research and competitive intelligence provider.

With a continuously growing population, demand for food is increasing at a fast pace, prompting the agricultural sector to gradually adopt technological improvements. The market for agricultural robots is expected to be driven by the need for updated and sustainable farming practices that offer higher yields.

Creating, testing, and launching a diverse range of robotic devices for various agricultural applications is the need of the hour. Popularity of indoor farming and changes in climatic conditions have also contributed to a surge in the expansion of the agriculture robotics industry. North America is the leading regional market for agriculture robots, with Asia Pacific projected to be a key market over the coming years.

Key Takeaways from Market Study

• The global market for agriculture robots is estimated at US$ 7.08 billion in 2023.
• Worldwide sales of agriculture robots are projected to surge at 18% CAGR between 2023 and 2033.
• The global market is thus expected to reach a value of US$ 37.05 billion by the end of 2033.
• North America accounted for a market share of 38% in 2022.
• Europe held around 20% share of the global market in 2022.

“Agricultural robotics is a rising sector of technology and innovation that is contributing to the modernization and sustainability of the agriculture industry. These robots are a key instrument in solving the issues of feeding a growing global population while limiting the environmental impact of farming techniques, thereby driving product sales,” says a Fact.MR analyst.

Shortage and High Cost of Acquiring Labor in Agricultural Sector

In recent years, the agricultural sector has been hit due to reduced interest in farming and increasing age of already existing farmers. This has resulted in labor scarcity, putting pressure on farmers to keep up with the farming process and produce higher yields. Rising demand for fresh food, along with scarcity of manual labor, has resulted in high labor wages. Agricultural robots have come in to aid in the automation of farming processes and alleviate the strain of farm labor shortages. Agtech can improve agricultural system efficiencies and increase overall productivity.

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