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The lack of awareness for farm management and crop maintenance is an limitation to farming industry since decades. The factors such as inappropriate usage of pesticides or chemicals spraying resulting in degrading land fertility, spoilage of crops and others. In such scenrio, crop maintenance through robotic solutions is gaining recognition as it conducts the monitoring of crops efficiently. Crop maintenance robots market is anticipated to grow significantly in the coming years owing to its ability to examine crops and soils, analyse gathered information and provide clear, actionable information to farmers to support crop management. Also, integration to various technologies embedded in robots enable to nutrient needs and tracking the development of the crop canopy, thus improving prediction of future growth patterns. Besides, monitoring the farm crops at regular intervals increases the operating costs of the farmers. In such cases, usage of unmanned aerial robots allows the farmer to optimize the zonal efficiency of fields and provides early indicators of plant stressors.
However, the outbreak of unprecedented COVID-19 has drastically slashed the global economies across the globe. According to the International Monetary Fund (IMF), it is projected that the global economy to contract sharply by –3% in 2020. Also, According to The UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, it is estimated that the economic slowdown could cost almost USD 1 trillion to the Global Economy. The agriculture sector is dramatically slow down due to disruption in import export trades, imbalance in supply chain ecosystems, shortages of labors and others. Neverthless, the market for crop maintenance robots is expected to stabilize in the 2021 owing to rising agriculture investments planned by countries post outbreak. For instance, in April 2020, The European Investment Bank (EIB) announced to launch new financing initiative aiming to disburse USD 1.89 billion investment in the agriculture and bioeconomy sector.
Key Market Driver -
• Demand for precision agriculture and smart farming across the globe. • Rising labor wages/costs impacting market growth.
Key Market Restraint -
• Lack of availability of skilled labors and awareness of farmers for crop maintenance
Some of the key competitors in the crop maintenance robots market include Trimble, Inc, Clearpath Robotics Inc., AGCO Corporation., AgJunction, Inc, iRobots, PrecisionHawk, Inc, Harvest Automation, Inc, Deere & Company, and others.
Europe holds the highest share in the crop maintenance robots market in 2019 owing to the presence of major manufacturers operating in this business segment. Also, major suppliers are rigorously carrying out research and development activities in this region to achieve desired yields in agriculture in an environmentally sustainable way. For instance, in April 2020, YANMAR R&D Europe set to develop ‘SMASH’ system that would support farmers with new technology. This technology would supplement the agricultural activities and help in crop management. Besides, the high cost of labor is observed in this region. In order to mitigate or reduce the expenditure, high adoption of robotics technology is observed in this region.
North America and Asia pacific region is anticipated to grow at an higher rate in the coming years with the rising concerns of farm and crop management, increasing awareness for product quality and food safety, and others. Further, presence of large farm lands in countries including China, India, United States, Canda, Australia is further expected to drive the crop maintenance robots market.
The adoption of crop maintenance robots is expected to grow in Middle East and Africa and Latin America region in the coming years owing to various governmental intiatives to boost precision agriculture and smart farming, major suppliers focus to expand its geographical presence across developing economies and to penetrate the robotic solutions to the unattended market.
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