Crop harvesting robots market to surge by $5.04 billion between 2024 and 2028
The global crop harvesting robots market size is estimated to grow by USD 5.04 billion from 2024-2028, according to market research company Technavio.
The crop harvesting market is estimated to grow at a CAGR of over 39.01% during the forecast period. The CAGR is the average yearly growth rate of an investment or market over a set period, assuming steady growth each year.
Incentives and subsidies
The significant growth is due to various incentives, subsidies, and financial assistance provided by governments and organisations to promote automation and robotics in the agricultural sector, Technavio reports. Growth is driven by technology advancements and population growth, leading to increased food demand. Robots are applied in greenhouses, vineyards, orchards, and field crops. Companies like PrecisionHawk, Yamaha, Veritas Farm Management, Deveron, AgXtend, CNH Industrial, Blue River Technology, and John Deere are leading the charge with innovations in precision and sustainable agriculture.
Labour costs and shortages
The agricultural sector is facing labour costs and shortages, making robots an attractive alternative. Companies like Traptic, Bowery Farming, Harvest Automation, Tertill, Harvest CROO, Agrobot, AgJunction, UAVs, and UGVs are leading the way in robot design and hardware.
