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Agriculture Robots Market to Be Worth $28.2 Billion and 30,41,634 Thousand Units by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., July 25, 2024 /PRNewswire/ — According to a new market research report titled, ‘Agriculture Robots Market by Offering (Hardware, Software), Deployment (Indoor, Outdoor), Automation Type (Automated, Semi-automated), and End Use (Crop Farming, Livestock, Forestry, Fishery), and Geography – Global Forecast to 2031,’ in terms of value, the agriculture robots market is projected to reach $28.2 billion by 2031, at a CAGR of 16.6% from 2024–2031. Also, in terms of volume, the agriculture robots market is projected to reach 30,41,634 thousand units by 2031, at a CAGR of 8.6% from 2024–2031.

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The agriculture sector is rapidly adopting advanced technologies such as AI, IoT, and robotics to automate various agricultural processes. With the growing population and food demand, it has become imperative for the agricultural industry to incorporate robots for various agricultural processes. The increasing demand for food is challenged by factors, such as climate change and other environmental impacts, that stem from intensive farming practices. Thus, farmers are adopting agriculture robots to automate agricultural processes, generate huge amounts of data, and perform different analytics to overcome these challenges.

Robots are increasingly utilized in various agricultural tasks, including crop monitoring, fruit and vegetable harvesting, milking, irrigation, livestock feeding, spraying, and seeding. These technologies enable farmers to remotely oversee field conditions and make informed decisions. The global demand for agricultural robots is on the rise, driven by the need to boost productivity amidst a growing population, rapid climate change, and diminishing arable land. Additionally, government support for the adoption of agricultural robots and efforts to address labor shortages further fuel this demand.

The agriculture robots market is segmented by offering (hardware (semi/autonomous tractors, drones/UAVs (rotary blades, fixed wings, hybrid), milking robots, harvesting robots, feeding robots, robot accessories, other hardware), software, services (consulting & training services, installation services, maintenance & repair services)), by deployment (indoor, outdoor), by automation type (automated, semi-automated), by end use (crop farming (crop monitoring, harvesting & picking, irrigation management, crop spraying, weather tracking and monitoring, inventory management, seed planting, other crop farming applications), livestock (milking, health monitoring, feeding, inventory management, other livestock applications), fishery, forestry). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the agriculture robots market is segmented into hardware, software, and services. In 2024, the hardware segment is expected to account for the largest share of around 88% of the agriculture robots market. The large market share of this segment is attributed to the increasing adoption of livestock management robots, rapid automation of agricultural processes, growing population, and shortage of labor. Several organizations are focusing on providing robot hardware to overcome the labor shortage issue across the globe. For instance, in February 2023, MetoMotion (Israel) launched an AI robot for picking tomatoes to help farmers solve the labor shortage problem of fruit and vegetable pickers.

Based on deployment, the agriculture robots market is segmented into indoor agriculture robots and outdoor agriculture robots. In 2024, the outdoor agriculture robots segment is expected to account for the larger share of the agriculture robots market. The large market share of this segment is attributed to the growing population, shortage of labor, and increasing need to monitor weather and climatic changes for outdoor farming. Organizations provide agriculture robots and software for mapping, navigation, and monitoring crops. For instance, in October 2022, Clearpath Robotics Inc. (Canada) launched OutdoorNav Navigation Software, an autonomous navigation software platform, to provide GPS-based navigation and mapping purposes in outdoor farming.

Based on automation type, the agriculture robots market is segmented into automated and semi-automated. In 2024, the automated segment is expected to account for the larger share of the agriculture robots market. The large market share of this segment is attributed to the integration of a variety of technologies in robots, such as digitalization, automation, and artificial intelligence, which plays a major role in crop production, livestock management, fishery, and forestry applications. Several organizations are focusing on providing fully automated robots for agricultural applications. For instance, in February 2022, Naio Technologies (France) launched Orio, an autonomous agriculture robot designed for large vegetable production, high-precision seeding & fertilizing, and monitoring the crops.

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Based on end use, the agriculture robots market is segmented into crop farming, livestock, forestry, and fishery. In 2024, the crop farming segment is expected to account for the largest share of around 56% of the agriculture robots market. The large market share of this segment is attributed to the rising labor cost, increasing population growth, and increasing need to improve the quality and productivity of yield. Several companies have started focusing on new strategic developments in autonomous platforms to offer new features to automate farming processes. For instance, in June 2022, AGCO Corporation (U.S.) partnered with Apex.AI, Inc. (U.S.) to add new capabilities to its autonomous farming robot, “Fendt Xaver,” by incorporating the Apex.OS software development kit to implement safety-critical applications to detect objects and prevent collision during the agricultural process.

Based on geography, the agriculture robots market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of around 34% of the agriculture robots market. The major factors driving the market’s growth in Europe market are the innovation in the European agri-tech industry, rising pressure on the food supply chain, rising adoption of precision farming, and government initiatives in the region to increase the implementation of advanced technology in agriculture. Government and agriculture stakeholders in this region are showing interest in enhancing the business structure of the agriculture sector by investing heavily in the implementation of robotics and automation in the European agriculture sector. For instance, in January 2021, the European Union offered USD 9.3 million (EUR 7.9 million) funding for the Robs4Crops project to accelerate the shift toward the large-scale implementation of robotics and automation in European farming. This project started in January 2021 and will run for four years.

The key players operating in the agriculture robots market are Yanmar Holdings Co., Ltd. (Japan), AgEagle Aerial Systems Inc. (U.S.), Lely International N.V. (Netherlands), BouMatic (U.S.), DJI (China), Deere & Company (U.S.), XAG Co., Ltd. (China), Clearpath Robotics Inc. (Canada), Naio Technologies (France), Robotics Plus Limited (New Zealand), GEA Group Aktiengesellschaft (Germany), DeLaval (Sweden), and Small Robot Company (U.K.).

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Scope of the Report:

Agriculture Robots Market Assessment—by Offering

HardwareSemi/Autonomous TractorsDrones/UAVsFixed-Wing DronesRotary Blade DronesHybrid DronesMilking RobotsHarvesting RobotsFeeding RobotsRobot AccessoriesOther Agriculture Robots HardwareSoftwareServicesConsulting & Training ServicesInstallation ServicesMaintenance & Repair Services

Agriculture Robots Market Assessment—by Deployment

OutdoorIndoor

Agriculture Robots Market Assessment—by Automation Type

AutomatedSemi-automated

Agriculture Robots Market Assessment—by End Use

Crop FarmingCrop MonitoringHarvesting & PickingIrrigation ManagementCrop SprayingWeather Tracking and MonitoringInventory ManagementSeed PlantingOther Crop Farming ApplicationsLivestockMilkingHealth MonitoringFeedingInventory ManagementOther Livestock ApplicationsForestryFishery

 Agriculture Robots Market Assessment—by Geography 

EuropeGermanyNetherlandsU.K.RussiaFranceItalySpainSwedenRest of EuropeAsia-PacificChinaJapanIndiaAustralia & New ZealandIndonesiaRest of Asia-PacificNorth AmericaU.S.CanadaLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaSaudi ArabiaIsraelSouth AfricaRest of the Middle East & Africa

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Related Reports:

Agriculture Drones Market by Offering (Hardware, Software), Payload (Less than 10 kg, 10 kg to 30 kg, More than 30 kg), Application (Precision Agriculture, Livestock Monitoring, Precision Fish Farming), and Geography – Global Forecast to 2030

Agriculture Equipment Market by Type (Tractors, Harvesting Equipment, Irrigation Equipment), Mode of Operation (Manual, Automatic), Power Source (Electric Equipment), Application (Sowing, Crop Protection, Harvesting, Irrigation) – Global Forecast to 2030

Geographic Information Systems Market in Agriculture by Offering, Application (Soil & Agricultural Mapping, Crop Monitoring, Yield Prediction, Livestock Monitoring), Sub-sector (Crop Farming, Forestry, Livestock) – Global Forecast to 2030

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:

Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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LG Energy Solution Hosts ‘Battery Innovation Contest (BIC) 2025’ to Foster Breakthrough Battery Technologies

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December 26, 2024

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The company opens international research contest to strengthen technology leadership; open for entries until January 31, 2025Selected researchers to receive annual research funding of up to USD 150,000 annuallyBIC program revamped to enhance two-way collaboration between industry and academia

SEOUL, South Korea, Dec. 26, 2024 /PRNewswire/ — LG Energy Solution (KRX: 373220) has announced its launch of the ‘Battery Innovation Contest (BIC) 2025’ to identify and support the next groundbreaking battery technologies.

Innovators from universities and research institutions worldwide are encouraged to submit proposals until January 31, 2025, at https://bridge.lgensol.com/.

Since its inaugural competition in 2017, BIC has been LG Energy Solution’s flagship research contest. This year’s edition has been revamped to foster greater collaboration between academia and industry.

Selected researchers will receive annual research funding of up to USD 150,000 annually. Additional funding may be granted to projects making significant achievements through extended contracts.

Maximizing Industry–Academia Benefits through Two-way Communication

Unlike previous iterations of the competition, ‘BIC 2025’ allows participants to submit proposals on specific topics pre-announced by LG Energy Solution.

“By presenting specific research optics, we aim to go beyond merely supporting academia and maximize the mutual benefits between the industry and academia,” said an LG Energy Solution spokesperson.

To facilitate active collaboration, LG Energy Solution has introduced the ‘BRIDGE‘ system, a platform designed to manage open innovation programs like BIC. The system facilitates seamless collaborations with features that help teams working on joint research projects track their objectives and deliverables.

LG Energy Solution has unveiled the preselected 18 research topics for collaborative projects on the ‘BRIDGE‘ platform, such Battery Safety diagnosis algorithm technology and New materials for LFP Batteries topic. At the same time, the contest retains its traditional format to ensure participants are free to propose completely original research ideas. All research proposals must be submitted through the ‘BRIDGE‘ system.

“Providing Differentiated Customer Value via Enhanced Technology Leadership”

To protect the original ideas of every participant, LG Energy Solution has split the application process into two stages: initial proposals that provide concise information, followed by detailed proposals from a shortlist of candidates. This change aims to safeguard the ideas of researchers not selected for funding.

“The BIC platform serves as a bridge of wisdom between members of academia and industry, driving technological innovation for the all-important battery sector,” said Je-Young Kim, CTO of LG Energy Solution. “Through this initiative, we aim to provide differentiated value to our customers by strengthening our technology leadership.”

As of today, LG Energy Solution has supported 26 battery research projects through the ‘BIC’ initiative, with some evolving into large-scale projects that have received additional funding and resources. Thanks to the success of this competition, the company continues to establish partnerships with world-leading universities and research institutions, reinforcing its commitment to preparing the battery field for the future.

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

 

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SOURCE LG Energy Solution

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SM approaches 2025 with cautious optimism

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2 hours ago

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December 26, 2024

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PASAY CITY, Philippines, Dec. 27, 2024 /PRNewswire/ — The SM Group is approaching the coming year with cautious optimism, encouraged by the continued growth of the Philippine economy.

SM Investments President and Chief Executive Officer Frederic C. DyBuncio said that despite ongoing challenges of peso volatility and higher inflation, the business sector has adapted well.

Consistent demand sustained household spending in the third quarter, with Household Final Consumption Expenditure posting a year-on-year growth of 5.1%, maintaining the same level in the same quarter last year, data from the Philippine Statistics Authority showed.

“Any moderation in inflation should trigger a strong confidence rebound. This could create opportunities in consumer-focused sectors in the country and we are poised to cater to these evolving demands,” Mr. DyBuncio said.

To cater to growing demand, SM continues to expand into more underserved areas, contributing to sustainable economic development and collaborating with government stakeholders to enhance access to modern retail, financial services, and integrated property developments.

“By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” he said.

Mr. DyBuncio also said SM continues to invest in promising ventures such as renewable energy and logistics, that foster economic activity.

SM has invested in the clean energy industry through Philippine Geothermal Production Company (PGPC) which produces 300 Megawatts of geothermal steam supply. SM aims to continue to develop geothermal concessions through PGPC in support of the Department of Energy’s goal of reaching 50% renewable energy supply by 2040.

To encourage circularity towards green energy production, SM’s property arm, SM Prime Holdings partnered with GUUN Co. Ltd. (GUUN) to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel.

SM’s banking arm, BDO Unibank is one of the largest funders of renewable energy projects. BDO has funded PHP898 billion in sustainable finance, including loans to 59 renewable energy projects as of December 2023. 

In logistics and tourism, the improvement of transport networks across the country’s archipelago connects tourist and industrial areas that will help create inclusive growth. SM though its subsidiary 2GO launched MV Masigla and MV Masikap in 2024 to help better connect goods to 19 ports across the country including Iloilo, Bacolod, Cagayan de Oro and Manila, further supporting the government’s push for medium term growth through an upgraded tourism infrastructure and ecosystem.

“Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments towards a sustainable future,” Mr. DyBuncio said.

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SOURCE SM Investments Corporation

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Seongnam City to Participate in CES 2025, Paving the Way as a Global Innovation Hub

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December 26, 2024

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Sky Labs Inc., BrainU Co., Ltd., and ANDOPEN Co., Ltd. will be recognized as Innovation Award Winners

SEOUL, South Korea, Dec. 26, 2024 /PRNewswire/ — Following its successful participation last year, Seongnam City will participate in CES 2025, the world’s largest consumer electronics and information technology exhibition. The event will take place from January 7 to 10, 2025, in Las Vegas, USA. Seongnam City will operate the “Seongnam Pavilion,” which will support 25 local startups from the Seongnam region and highlight their innovative technologies and products. CES 2025 will attract approximately 4,400 companies and over 130,000 attendees worldwide.

At CES 2024, Seongnam City garnered significant attention from domestic and international investors and buyers by showcasing startups with outstanding technological capabilities. This effort established valuable global networks and expanded market opportunities, achieving a total contract value of KRW 145.5 billion. These tangible outcomes highlighted the high level of satisfaction among participating companies.

This year, Seongnam City, a leading innovative hub in South Korea, aims to actively support local startups in expanding into overseas markets and building global networks through its participation in CES 2025. The Seongnam Pavilion will feature cutting-edge technologies and products across advanced industries such as artificial intelligence (AI), healthcare, smart cities, and mobility. Through these efforts, Seongnam City seeks to further solidify its position as a “Global Innovation City.”

Notably, three companies from Seongnam were honored with CES Innovation Awards, demonstrating their technological excellence and global competitiveness on the world stage:

Sky Labs Inc.: Recognized for its QuickGly™ technology, which non-invasively measures glycated hemoglobin (HbA1c).BrainU Co., Ltd.: Honored for its VET CAI, an EEG-based depth-of-anesthesia monitoring device designed for animals.ANDOPEN Co., Ltd.: Awarded for its SNAPPASS, a next-generation two-step authentication solution based on facial recognition.

Seongnam City stated, “By participating in CES 2025, we aim to showcase Seongnam’s innovative technologies to the global stage and provide a launchpad for our startups to expand into international markets.”

Meanwhile, the Seongnam Pavilion will feature 25 companies, including BRYTN Co., Ltd., NTL HEALTHCARE Co., Ltd., EMTAKE Inc., AWESOME LAB Co., Ltd., JNL Co. Ltd., Linkface Co., Ltd., Emma Healthcare Co.,Ltd., NC& Co.,Ltd, Becon Co.,Ltd, LITBIG, Inc., GeodeSound., Inc, MEDIAIPLUS, INC, BoS Semiconductors, Sky Labs Inc., STRATIO, INC., BrainU Co., Ltd., analogue plus Co.,Ltd., EX Healthcare Inc., Mangoslab, Littleone, Bluefeel Co., Ltd., Aram Huvis Co., Ltd., Real Design Tech Co.,Ltd., Crescom Co., Ltd., ANDOPEN Co., Ltd. These companies are set to unveil their groundbreaking technologies at the exhibition.

 

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SOURCE Seongnam City

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