Autonomous Multifunctional Agriculture Robot Market Size, Share & Segmentation, By Component (Hardware, Software, Services), By Region, and Global Forecast for 2024-2031

Autonomous Multifunctional Agriculture Robot Market Report Scope & Overview:

Autonomous Multifunctional Agriculture Robot Market size was valued at USD 0.42 billion in 2023 and is expected to grow to USD 1.45  billion by 2031 and grow at a CAGR of 16.64% over the forecast period of 2024-2031.

Farmers can focus more on improving total crop production by automating slow, repetitive, and monotonous activities with Autonomous Multifunctional Agriculture Robots. These robots are used to reduce the need for human intervention, ensuring proper irrigation and resource utilization. These robots are especially effective for automated weed management and soil-based fertilizer application condition and soil sensors for drip irrigation in rain-fed areas.

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The Autonomous Multifunctional Agriculture Robot Market is divided into three components: hardware, software, and services. In 2022, the Hardware category held the most share, accounting for 65-67% of the Autonomous Multifunctional Agriculture Robot Market revenue. The largest of these categories is hardware. The category's Autonomous multifunctional agriculture robot market was valued USD 0.21 billion in 2022, and it is expected to grow at a 15.8% CAGR during the study period. Many advantages may be obtained by automating farms, including the elimination of human work in poor weather, accuracy, remote monitoring, and other benefits.

Unlike open-source web apps, which require an internet connection to function, our created web applications can run on a local network as long as the system is connected to the Internet. Furthermore, as compared to the normal open-source agricultural robot, it is convenient and straightforward to add new capabilities and improve existing ones. The complete intended system has been tested.

KEY DRIVERS: 

• Rising demand for vertical farming and indoor planting

The growing demand for grain and fruit and vegetable production supports the expansion of the autonomous multipurpose farm robot market. In addition, limited arable land drives market demand for vertical farming and indoor planting. Furthermore, the increasing demand on farmers around the world to boost their profitability and sustainability increases their autonomy. Size of the multifunctional agriculture robot market.

• Farm labor shortages are becoming more severe. Global penetration of IoT and navigation technologies

RESTRAIN:

• Lack of internet connectivity

• High costs

OPPORTUNITY:

• Rising knowledge of modern technologies

Furthermore, there is a growing knowledge of modern agricultural technologies such as agribusiness and intensive farming. Organic farming, precision farming, smart farming, and sustainable agriculture all define tremendous opportunities. The market for autonomous multipurpose agriculture robots is being driven by increased global food demand. Furthermore, growing robotics applications in agricultural industries provide.

• Rising demand for farm robots equipped with 3D cameras

CHALLENGES:

• High cost for maintenance and lack of regularity

The absence of suitable internet connection and the skills necessary to incorporate robotics are limiting industry growth. Furthermore, the high expenses of initial acquisition and maintenance of these robots, as well as the lack of regulatory standardization, represent substantial challenges. Nonetheless, widespread implementation of agricultural robotics would support the During the assessment period, the market grew.

IMPACT ANALYSIS

IMPACT OF RUSSIAN UKRAINE WAR

However, as losses grow in Ukraine, so does the push to acquire major military advantages with completely autonomous weapons – robots that can identify, track down, and attack their targets without human intervention. This month, a major Russian firm declared plans to create a new combat version of its Marker reconnaissance robot, an unmanned ground vehicle, to supplement existing Ukrainian forces. Fully autonomous drones are already being deployed to protect Ukrainian energy infrastructure from other drones. According to Wahid Nawabi, CEO of the US defense corporation that manufactures the semi-autonomous Switchblade drone, the technology to convert these weapons to fully autonomous is already within reach.

Ukraine grew as a significant global supplier of grains and vegetable oil in the two decades preceding the war. Grain exports more than quadrupled, and the country's share of global grain commerce increased from 5% to 12%-14%. The majority of agricultural exports (approximately 93%) travelled to the Middle East and North Africa region, as well as to Europe by water. Ukraine was only able to expand its agricultural export exports by rail by around 1 million metric tons per month during the summer of 2022.Truck exports have also been restricted to approximately 600,000 tons each month. The entire cargo capacity of these alternate routes fell far short of demand, and exports could not even come close to pre-war monthly shipments. In this case 2022 harvest approached, oversupplies depleted current domestic storage capacity.

MARKET SEGMENTATION

By Component

•  Hardware

•  Software

• Services

REGIONAL ANALYSIS

North America controls the market for autonomous multipurpose agriculture robots. Increased digitalization and automation in agriculture industries and farming practices, such as vertical and horizontal farming Influence market growth through indoor farming.

APAC is establishing itself as a lucrative market for autonomous multifunctional agriculture robots. Factors like as rising population, rapidly dwindling arable land and water resources, and a scarcity of farm laborers all contribute to the market's magnitude. Furthermore, the growing demand for organic food and the huge Technological improvements and innovations propel the region's market share.

Due of its huge technological breakthroughs, Germany has the largest increase in autonomous multifunctional agriculture robots among the major European countries. Furthermore, the presence of agricultural enterprises and robotics suppliers boosts market income. Moreover, in this region, enhanced Internet access with great reliability drives market share gains.   

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS

Some of key players of Autonomous Multifunctional Agriculture Robot Market are Small Robot Company (SRC), New Holland Agricultural, Harvest Automation, Ecorobotix SA, CNH Industrial NV, Deepfield Robotics, Ducksize, FarmDroid ApS, Naio Technologies, Nexus Robotics, AGROINTELLI, PeK Automotive, Advantech Farms Technologies Inc., Agrobot, Korechi Innovations Inc., and other players are listed in a final report.

Small Robot Company (SRC)-Company Financial Analysis

RECENT DEVELOPMENT

• June 2022: Small Robot Company (SRC), a British startup that creates agricultural robots, has announced plans to deploy its robots on approximately 50 farms during the 2022-2023 growing season.

• April 2022: New Holland Agricultural has announced the establishment of a dealer network in the Republic of Ireland. This dealer network paired New Holland farm machinery with Donohoe construction equipment to serve the counties of Wexford and Carlow.

• February 2022: The robot-as-person Verdant Robotics established the notion of software as a service (RaaS) to ensure that more speciality crop growers may satisfy their need for more profitable and sustainable growing methods.

• Naio Technologies debuted the Orio agricultural robot at the World Ag Expo 2022 in February 2022. Herbicide alternatives like Orio protect soils, improve working conditions, and collect data for smart farming.