Global agriculture drones and robots market to reach $30.08 billion by 2026, report
The global agriculture drones and robots market is expected to reach $30.08 billion by 2026, with a compound annual growth rate, CAGR, of 22.3% during the forecast period 2021-2026.
The primary drivers for the market growth include increasing automation in the agriculture industry and the shortage of manual labor in the sector.
Several countries are taking initiatives to bring automation and sustainability in the agriculture sector to enhance profitability and bring efficiency in farming applications. For instance, the U.S. Department of Agriculture's National Institute of Food and Agriculture (NIFA) invested $21.7 million in April 2021 in several key programs to help agricultural producers manage the impacts of climate change on their lands and production.
The funding aims to bring innovation in agriculture technologies, triggering the demand for agriculture drones and robots in the country.