Sep 21 2015
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.
Source: http://www.technavio.com/