Technavio Says the Global Agricultural Robots Market Will Boom with the Growing Demand for Agricultural Products Through 2019
September 18, 2015 | By Business Wire News
LONDON
Technavio has published a new report on the global agricultural robots market,which is expected to grow at a CAGR of more than 11% from 2015-2019.
About the Report
The new market research report by Technavio states the UN has projected the world population to grow more than nine billion by 2050, resulting in increased demand for agriculture and dairy products. This growing demand has subsequently increased the demand for modern technology and farm equipment such as agricultural robots.
“Additionally, the growing demand for fertile agricultural land, and large-scale farming by big conglomerates are few factors, among many others, have also increased the use of agricultural robots in the agriculture and livestock sector, thus propelling the market growth in the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the increased focus on automating processes in agriculture industry, which is due to the lack of skilled labor.
“The concept of precision agriculture is growing, where small, lightweight, autonomous robots will be deployed for sowing, harvesting, sorting, and packaging in agricultural lands,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global agricultural robots market from 2015-2019. To calculate the market size, the report considers revenue generated from sales of agricultural robots; however, it does not consider the cost of software licensing and renewal.
Key Information Covered in the Report:
- Key Vendors:
- DeLaval
- Lely
- Yamaha Motor
- Market Growth Drivers:
- Need for increased productivity
- For a full detailed list, view our report.
- Market Challenges:
- High cost of robots
- For a full detailed list, view our report.
- Market Trends:
- Increased automation in agriculture industry
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 300+ reports on the agriculture market:
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150918005026/en/
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1-630-333-9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com
