The North America region market is anticipated to lead the agriculture robot market by growing with a significant CAGR of 18.9% during the forecast period—2019 to 2026, owing to the presence of several farmers, who are adopting advanced technology equipment for farming activities in the region. The North American region is experiencing continuous investments in the farming technologies, and is advancing in terms of robotics. Additionally, promising government initiatives that promote agricultural business are greatly contributing to the growth of the North America agricultural robot market. Moreover, this region is foreseen to unlock rewarding opportunities for the market growth in the coming years.
The Asia-Pacific market of the agriculture robot market is another region market hugely contributing to the growth of this industry. The Asia-Pacific region market is expected to grab a highest share of the market, growing with a significant CAGR of 19.7% during the forecast period. Moreover, this regions market is expected to garner a revenue of $3,798.3 million by 2026 and observe accelerated growth. The growing usage of advanced automation technologies in the agricultural sector and rising implementation of beneficial government initiatives, such as subsidies, are expected to fuel the growth of this region market in the forecast period.
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Key Players in the Market
Some of the leading players operating in the global agriculture robot market include GEA Group, John Deere, Deepfield Robotics, LelyHarvest Automation, DeLaval, Autonomous Solutions Inc, AGCO, Clearpath Robotics, Autonomous Tractor Corporation, and others. These players are taking various business growth initiatives such as partnerships & collaborations, mergers and acquisitions, investments in R&D, and new product launches. These strategies have helped these companies in obtaining a leading-edge in the market in the recent period.
For instance, in February 2021, Future Acres, an agricultural robotics firm whose aim is to help carry farms into a sustainable future, launched Carry, an autonomous robotic harvest companion. The new robot can help farmers in gathering hand-picked crops faster and with less physical efforts.
A recent report by Research Dive states that the global agriculture robot market is predicted to observe significant growth and garner $ 16,640.4 million by 2026, growing at a CAGR of 19.2% from 2019 to 2026. The report offers thorough information regarding the market based on drivers and restraints, investment opportunities, key segments, and regions. The performance of each player operating in the market is presented in the research report. Also, the study covers a summary of key developments of these market players and COVID-19 impact analysis.
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