Subject category:
Economics, Politics and Business Environment
Published by:
Amity Research Centers
Length: 9 pages
Data source: Published sources
Abstract
The world population was expected to hit 9.7 billion by 2050, putting immense pressure on farmers to increase crop yield and enhance farm production. Agricultural sector was also faced with shortage in labour. To address these issues, farmers were increasingly turning their attention towards Agricultural robots (AgBots) which included drones, autonomous tractors, and robotic arms. These emerging technologies were causing a paradigm shift in farming. The fourth agricultural revolution was shaped by these technological advances combined with IoT devices creating a 'Smart Farm' management approach. Worldwide Agriculture Robots Market was projected to touch USD5.7 billion in 2024. Despite the great benefits of Robotics in AgTech Industry, there were numerous technical, environmental, safety and regulatory issues that needed to be addressed as the technology developed further. Amid the drawback, it remained to be seen whether large scale market adoption of robotics in farming would be possible in times to come.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2019.Geographical setting
Region:
World/global
About
Abstract
The world population was expected to hit 9.7 billion by 2050, putting immense pressure on farmers to increase crop yield and enhance farm production. Agricultural sector was also faced with shortage in labour. To address these issues, farmers were increasingly turning their attention towards Agricultural robots (AgBots) which included drones, autonomous tractors, and robotic arms. These emerging technologies were causing a paradigm shift in farming. The fourth agricultural revolution was shaped by these technological advances combined with IoT devices creating a 'Smart Farm' management approach. Worldwide Agriculture Robots Market was projected to touch USD5.7 billion in 2024. Despite the great benefits of Robotics in AgTech Industry, there were numerous technical, environmental, safety and regulatory issues that needed to be addressed as the technology developed further. Amid the drawback, it remained to be seen whether large scale market adoption of robotics in farming would be possible in times to come.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2019.Geographical setting
Region:
World/global