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“Milking robots market projected to grow at a CAGR of 11.06% from 2017 to 2023”
The milking robots market is projected to be worth USD 2.48 billion by 2023, growing at a CAGR of 11.06% between 2017 and 2023. The increasing adoption of automated milking systems owing to various benefits associated with them, such as less dependency on manual labor, increased milk yields due to more frequent milking, and reduced labor cost, is a major driving factor for the milking robots market. A major factor restraining the growth of the milking robots market is the high initial investments. Milking robots require high initial investments, efficient management tools, and skilled and knowledgeable farmers for uninterrupted and effective use of automated milking systems.
“Milking robots market for automated milking rotary projected to grow at highest CAGR during forecast period”
On the basis of system type, the milking robots market has been classified into single-stall unit, multi-stall unit, and automated milking rotary. The market for automated milking rotary is expected to grow at the highest CAGR during the forecast period. Automated milking rotary has the ability to milk larger herd size and is flexible enough to operate in different farming practices?from free stall and loose housing to pasture-based dairying. This is the main reason for the high growth of automated milking rotary systems between 2017 and 2023.
“Europe accounted for largest share of milking robots market in 2016”
Europe accounted for the largest share of the milking robots market in 2016. The milking robots market in Europe is driven by various factors, such as technological advancements in automated milking systems and the early adoption of various milking robotics technologies in the region. Europe is expected to offer a huge platform for the growth of the milking robots market. European countries such as Germany, the UK, the Netherlands, and Denmark are the early adopters of milking robots, which is the main reason for the large size of the milking robots market in this region.
The breakup of primaries conducted during the study is depicted below:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 –25%
- By Designation: C-Level Managers – 57%, Directors – 29%, and Others – 14%
- By Region: Americas – 40%, Europe – 30%, APAC – 20%, and RoW – 10%
The key players operating in the milking robots market are DeLaval Holding AB (Sweden), GEA Group AG (Germany), Lely Holding S.A.R.L. (Netherlands), SCR Dairy Inc. (Israel), S.A. Christensen & Co. (Denmark), Fullwood Ltd (UK), Afimilk Ltd (Israel), BouMatic LLC (US), Hokofarm Group B.V. (Netherlands), DairyMaster Ltd (UK), and Livestock Improvement Corp Ltd. (New Zealand).
This report covers the milking robots market on the basis of offering, herd size, system type, and region. On the basis of offering, the milking robots market has been segmented into hardware, software, and services. On the basis of herd size, the milking robots market has been segmented into below 100, between 100 and 1,000, and above 1,000. On the basis of system type, the milking robots market has been classified into single-stall unit, multi-stall unit, and automated milking rotary. On the basis of region, the market has been segmented into Americas, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
- This report includes the market statistics pertaining to offering, application, system type, and region, along with their respective market sizes.
- In-depth analysis of the value chain has been done to provide an in-depth insight into the milking robots market.
- Major drivers, restraints, challenges, and opportunities for the milking robots market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the markets on the basis of offering, application, system type, and region have been conducted to provide an overall view of the milking robots market.
- The report includes a detailed competitive landscape, including key players and in-depth analysis and ranking of the key players.