Increasing Demand for Food and Availability of Transportable Charging Stations to Boost Growth of Agricultural Robots and Mechatronics Market

 

Agricultural Robots and Mechatronics Market

Increasing demand for food is expected to propel growth of the agricultural robots and mechatronics market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050. Moreover, government initiatives to boost adoption of agricultural robots and mechatronics is also expected to aid in growth of the market.  For instance, in August 2020, the World Economic Forum launched the Artificial Intelligence for Agriculture Innovation Project along with the State Government of Telangana, India.

Increasing labor cost is expected to offer lucrative growth opportunities for players in the agricultural robots and mechatronics market. For instance, according to Eurostat press release in April 2019, in 2018, hourly labor costs in the whole economy expressed in € rose by 2.7% in the EU and by 2.2% in the euro area compared to 2017, with Latvia (+12.9%), Lithuania (+10.4%), Estonia, and Slovakia (both +6.8%) witnessing the highest increase. Moreover, use of artificial intelligence and availability of transportable charging stations is also expected to aid in growth of the market. For instance, in November 2020, Naïo Technologies partnered with VARTA AG, which provides battery technology, to create an autonomous, transportable charging station for agriculture robots.

Among regions, Asia Pacific is expected to witness significant growth in the agricultural robots and mechatronics market, owing to increasing population. For instance, as of November 2019, China's population stood at 1.394 billion, the largest of any country in the world. Moreover, development of robotic platform for agriculture is also expected to aid in growth of the market in the region. For instance, in April 2020, Yanmar Co., Ltd., a Japan-based diesel engine manufacturer, developed modular robotic platform for agriculture. 

Competitive Analysis

Major players operating in the agricultural robots and mechatronics market include, Agrobotix LLC, Autonomous Solutions Inc. (ASI), Autonomous Tractor Corporation, AutoProbe Technologies, Blue River Technology, BouMatic Robotics, Clearpath Robotics Inc., Conic System, DeLaval Inc., EcoRobotix Ltd, GEA Group Aktiengesellschaft, Harvest Automation Inc., Deere & Company, Lely Industries N.V., Naio Technologies, PrecisionHawk, A/S. A. Christensen & Co. (SAC Milking), SenseFly, Vision Robotics Corporation, Vitirover, Wall-Ye, and Others

Major players operating in the agricultural robots and mechatronics market are focused on adopting various strategies to enhance their market share. For instance, in October 2020, Clearpath Robotics Inc. announced that Jackal UGV, Husky UGV, and Dingo platforms were further integrated with Nvidia Jetsons, including the Nano, Xavier NX/AGX, and TX2 modules.

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