Forget Terminator 3. The Rise of the Machines is happening right now in the ag sector.
According to a recent research study by Tractica, the number of agricultural robots sold will grow from 32,000 this year, to 594,000 in 2024.
Tractica notes the rapidly developing market is being filled by ag tech companies developing and launching a wide and innovative range of robots to handle many farm tasks.
Research analyst Manoj Sahi says the rising demand is being driven by a growth in global population, costs, and a declining availability of farm workers.
He adds key applications for farm robots moving forward will include drones, driverless tractors, animal and crop management, as well as a diverse set of subcategories for each area.
Tractica estimates the market for ag robotics will top $74 billion annually in just eight years.
