An American market research firm’s recent report claims that the agriculture industry worldwide is about to see an explosion in the rise of the machines.
Tractica, which focuses on the tech market, partnered with ROBO Global, a firm that specializes in the robotics industry, for its report released last month.
They project worldwide annual revenues for the sale of agricultural robotics, which includes anything from robotic milkers to drones to driverless tractors, to hit $74.1 billion by 2024. Last year, worldwide revenues in the industry were about $4 billion.
Shipments are forecasted to chase revenues, going up from 32,000 units in 2016 to 594,000 in 2024, with the average cost per unit to stay at about $12,500.
Tractica is expecting the biggest push on the number of shipments is going to come from the still largely conceptual driverless tractor, agricultural drones, as well as material and soil management robots.
The firm isn’t the first to project the growth of the ag robot industry, although it’s certainly the most optimistic. Another American firm, Global Industry Analysts Inc., released a report in 2015 suggesting the industry would exceed $15 billion by 2020.
Business Wire, also based out of the U.S., released a report last year saying industry sales would be $28.3 billion by 2025.
