Menu

SMART TRANSPORT FEATURE NEWS

Ag Robot Revenue to Reach Multi-Billions by 2024, Prediction Says

By Ken Briodagh December 27, 2016

The market for agricultural robots is developing at a rapid pace, with a large number of established and startup agricultural technology companies developing, piloting, and launching an innovative range of robotic systems to tackle a wide variety of tasks, according to a new report from Tractica. Key application areas for agricultural robots include driverless tractors, unmanned aerial vehicles (UAVs), material management, field crops and forest management, soil management, dairy management, and animal management, with a diverse set of subcategories emerging within each of those areas.

The report was developed in collaboration with The Robot Report, and it indicates that shipments of agricultural robots will increase significantly in the years ahead, rising from 32,000 units in 2016 to 594,000 units annually in 2024, by which time the market is expected to reach $74.1 billion in annual revenue.

“The rising demand for agricultural robots is being driven by a number of factors including global population growth, increasing strain on the food supply, declining availability of farm workers, the challenges, costs, and complexities of farm labor, changing farmlands, climate change, the growth of indoor farming, and the broader automation of the agriculture industry,” said Manoj Sahi, research analyst, Tractica.

“Robotics companies are keenly focused on the agricultural market opportunity,” adds Frank Tobe, editor and publisher of The Robot Report.  “Our research identified and profiled more than 150 industry participants who are developing and launching robotic systems to address the need for more automation to improve efficiency, reduce costs, and address labor concerns against the backdrop of a rapidly changing agriculture market and technology environment.”

Tractica’s report, “Agricultural Robots,” examines global market trends for agricultural robots and provides 10-year market sizing and forecasts for agricultural robot shipments and revenue during the period from 2015 through 2024. The report examines the market opportunities, barriers, and technology issues for each of the key application markets.




Edited by Alicia Young

Editorial Director

SHARE THIS ARTICLE
Related Articles

FirstNet Available to First Responders, Opens Doors to AT&T Retail

By: Ken Briodagh    6/13/2018

Verified First Responders Can Sign Up for Service at Any of more than 5,300 Locations Nationwide, or Anytime Online

Read More

Advancements in IoT Mean Safer Vehicles and Fewer Accidents

By: Special Guest    6/11/2018

The same technology in our smartphones is now being leveraged to reduce human driving error and make the roads safer.

Read More

CalAmp Expands Access to Crash Details with Automated Notifications & Online Reports

By: Ken Briodagh    5/31/2018

CrashBoxx collision data more widely available to current and new telematics customers through an easy access CrashBoxx Portal

Read More

AT&T and Honeywell Team Up on Connected Aircraft and Freight Solutions

By: Ken Briodagh    5/22/2018

AT&T Provides IoT Solutions for Honeywell's Transportation and Logistics Offerings in the US and Abroad

Read More

Pivotel and Inmarsat Launch Hardware Replacement for Fleet Xpress Network

By: Ken Briodagh    5/14/2018

Pivotel has released a new satellite device that combines the Inmarsat Fleet Xpress Network Service Device (NSD) with the RedPort Optimizer Enterprise…

Read More