The introduction of agricultural drones and robots is also expected to resolve another looming concern over the farming industry i.e., the shifting structure of agricultural workforce. This change in the global aging demographic has eventually triggered the adoption of automation in farming practices. Agricultural drone and robot manufacturers have seen a positive surge in their sales due to this profound change in the farming industry.
Read Report Overview: Agriculture Drones and Robots Market
As agriculture quickly becomes an exciting high-technology industry, new professionals, companies, and investing bodies are rapidly being drawn in. The development in smart farming technologies has led to not only advancements in production capabilities of farmers but also to the introduction of advanced technology phenomenon in the industry i.e., agricultural drones and robots.
The concerns surrounding the agriculture industry majorly led by the increasing demand for global food production prompt the farmers to enhance farm profitability, despite slowing yield trends in several staple crops. As the improvement in technology is leading to increased efficiency across various industries, the agriculture industry is also relying on the incorporation of smart technologies on farms for profitable farming. With the introduction of advanced information and communication technologies in the farming life cycle since past decade, the agriculture industry has witnessed a new revolution, just as the introduction of farm equipment and machinery, pesticides, fertilizers, and high-yield crop breeds led to a revolution in the previous century.
High growth in the global agriculture drones and robots market is expected to be driven by the need to apply site-specific farming, variable rate application of raw materials and resources as per requirements, and declining agricultural labor across the world. Rise in the usage of agricultural robots is growing owing to the increasing applications in agriculture areas, including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, forestry, and orchards, among others. Agricultural robots are also expected to reduce the ecological footprint of daily farming. A large share of market has been driven due to the initiatives, policies, and support shown by governments in countries such as the U.S., the U.K., Germany, France, Australia, and China. In emerging countries, the growth is expected to be driven by rising awareness among governments of different countries about the need to elevate farm produce while taking care of the environment. Furthermore, rising concerns over global food security and sustainability have led to extensive investments by the governments across the world.
The adoption of drones has extended from being used by hobbyists to be used commercially. The growth in the adoption is majorly driven by increasing portability and wireless mobile connectivity. Drones are finding applications in various end-user industries such as construction, mining, infrastructure, media, and entertainment. However, the agriculture industry is expected to witness the most widespread adoption of drones in the next ten years. Its commercial production has only geared in the last decade from the stage of innovation and incubation to global commercialization. Amongst drone applications, crop spraying and dusting drones are currently minority shareholders in the global agriculture drones market, however the revenue generation through the drones for this application is expected to grow the fastest in the next ten years, with countries in South-East Asia leading the growth in adoption.
The trends of the agriculture robots market vary across different geographical regions. The agriculture drones and robots market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Presently, Europe is at the forefront of the global agriculture drones and robots market. The high revenue generation was majorly credited to a favorable growth rate of agricultural robots for livestock and aquaculture produce in Europe. Looming concern of the lack of manual labor for agriculture is expected to propagate research and development of agricultural robots in the region, leading to further growth of the Europe agricultural robots market during the forecast period. North America generated the second highest revenue in 2017. Large market share of the region has been attributed to the rising need for efficient farming equipment in the large farmlands of the North America to generate profitable crop production. Constantly increasing farm sizes and the rise in global food demand from limited arable land are expected to ensure the future market growth. Although Asia-Pacific has a smaller market share as compared to that of North America and Europe due to the late introduction of agricultural robot technologies and practices, it is expected to have the fastest market growth.
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The competitive landscape for the agriculture drones and robots market demonstrates an inclination toward companies adopting strategies such as product launch and development and partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. Deere and Co., Trimble Inc., AGCO Corporation, Parrot SA, GEA Farm Technologies, Lely S.a.r.l., Afimilk Ltd., PrecisionHawk., AeroVironment Inc., DeepField Robotics, EcoRobotix, Abundant Robotics, Naio Technologies, and Boumatic Robotics, are some of the prominent players in the agriculture drones and robots market. The market is highly fragmented with the presence of large enterprises and a large number of small- to medium-sized companies that compete with each other.
Moreover, extensive R&D activities and appropriate regulatory environments are also a prerequisite for the sustained growth of this market. Various government and private research institutes and favorable trade policies are putting in substantial efforts to identify the benefits of these agricultural drone and robot solutions for augmenting global food production. The increase in adoption of sophisticated smart farming techniques is necessary to bridge the demand and supply gap along with attaining sustainability in the production.