The use of robots in farming is expected to rise as the human counterparts move towards other better-paying professions, spurring the indoor farming robots market 2020. The semiconductors and electronics industry reports are produced by Market Research Future, which highlights market options for expansion. A 22.53% CAGR is expected to guide the market to USD 358.5 Million by 2025.
The labor-intensive nature of agriculture is expected to advocate the use of indoor robots, thus spurring the overall market. The restricted accessibility of arable land is predicted to enhance the indoor farming robot market in the forecast period.
Segmental Analysis
The segmentation of the indoor farming robots market is segmented into type, automation, application, and region. Based on the automation, the indoor farming robots market is segmented into semi-autonomous and fully autonomous. Based on the region, the indoor farming robots market is segmented into Asia-Pacific, Europe, North America, and the rest of the regions. Based on the application, the indoor farming robots market is segmented into fruits, vegetables, and floriculture. Based on the type, the indoor farming robots market is segmented into robotic fodder, cutting robot, robot gripper, material handling robot, monitoring drones, incubators, and others.
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Detailed Regional Analysis
The regional assessment of the indoor farming robots market includes regions such as Asia-Pacific, Europe, North America, and the rest of the regions. The European region was accountable for the principal market worth of USD 33.1 Million in 2018. The indoor farming robots market is likely to record a CAGR of 21.43% for the period of the forecast period. The European region will dominate the indoor farming robots market all through the forecast period due to restricted arable land with augmented demand for freshly cultivated food.
Competitive Analysis
The need to prepare for contingencies such as natural disasters, pandemics, and international trade wars is expected to allow the market a better capability to deal with the challenges. The scope of development of the market shows a high growth potential that the market can achieve in the coming years. The strategic allocation and positioning of assets is expected to aid each competitor in the mart with their growth goals. The inducement of favorable regulations introduced by the governments of several countries is estimated to enhance the profits that can be gained by the market. The availability of suitable means to build robust distribution channels is estimated to characterize the future expansion of the market in the forecast period. The stability of the economic state is expected to further lend to the favorable development in the global market strength. The improvement in research and development facilities and equipment is further projected to influence the growth of the market in the forecast period.
The central contenders in the Indoor Farming Robots Market are OnRobot (Denmark), Iron-Ox (US), Harvest Automation (US), Root AI (US), Javo (Netherlands), FodderWorks (US), Visser Horti Systems BV (Netherlands), FarmBot Inc. (US), and Metomotion (Israel) among others.
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Industry Updates:
Jan 2020 Naïo Technologies, dedicated to developing agricultural robots, recently announced the close of a €14 million funding round led by Bpifrance. The Impact investor Pymwymic and its past shareholders, Capagro and Demeter, sided with Bpifrance in this investment round. This fresh investment round will facilitate Naïo Technologies to additionally take advantage of on its place as a leader in agricultural robotics and arrive at the next level of technology development in order to ready the robots for mass production.
Oct 2019 A farm, from a startup known as Fifth Season, has start selling spinach, lettuce, and other leafy greens, by means of a robot-based system that the creators say is cost-competitive with growing and transporting the same crops from a conventional farm.
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