Milking Robots Market worth $5.3 billion by 2029 - Exclusive Report by MarketsandMarketstm

CHICAGO, Jan. 18, 2024 /PRNewswire/ -- The global milking robots market is projected to grow from USD 3.2 billion in 2024 to USD 5.3 billion by 2029, registering a CAGR of 10.8% during the forecast period according to a new report by MarketsandMarketstm. The growing demand for milking robots in agriculture stems due to their ability to automate labor-intensive milking tasks, enabling round-the-clock operations while reducing physical strain on farmers. Their contribution to improved animal welfare, precision in milking, scalability, and ongoing technological advancements solidify their pivotal role in modernizing and optimizing dairy operations worldwide.

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Milking Robots Market Report Scope:

By Offering the hardware segment to dominate the milking robots' market during the forecast period.

The hardware segment is poised to lead the milking robots industry throughout the forecast period. Key factors propelling this dominance include the rising adoption of milking robots, a preference for automated hardware and systems, ongoing technological advancements by key players introducing innovative products, and a global surge in the demand for dairy products, leading to an increased number of dairy cows. Furthermore, the growing awareness of remote monitoring for dairy cows, coupled with the identification and tracking of these animals using sensor technology, as well as the monitoring and control of livestock behavior on dairy farms, is anticipated to drive demand for sensing and monitoring solutions in the dairy farming sector during the forecast period.

By Hardware, the sensing and monitoring sub-segment is likely to record the highest growth rate during the forecast period.

The sensing and monitoring sub-segment within the milking robot's hardware category is anticipated to undergo rapid expansion, reflecting a robust growth trajectory. This surge in growth is driven by several factors contributing to the increased adoption of advanced technologies in dairy farming. Sensing and monitoring solutions play a crucial role in modern milking robot systems, offering capabilities such as remote monitoring of dairy cows, real-time data collection, and behavior analysis. Sensing and monitoring devices include sensors, RFID tags and readers, camera systems, and other components such as remote controlling systems, and flow and application control devices. Increasing demand for sensing and monitoring devices, such as RFID, camera systems, and sensors to facilitate automatic milking especially in large farms is driving the growth of this segment.

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Europe is likely to account for the largest market share in the global milking robots' market by 2029.

Milking robots are more popular in Europe than in other regions due to several factors. Labor shortages, rising labor costs, government subsidies and support programs, and higher milk prices make milking robots more financially viable for farmers. Europe's advanced dairy farming practices, well-developed infrastructure, support systems, and focus on animal welfare and sustainability contribute to the higher adoption of milking robots. Additionally, European farmers are generally more open to adopting new technologies and trying innovative farming approaches, making them more receptive to the potential benefits of milking robots. Dairy farms in Europe have widely adopted milking robots to ensure high milk yields. The growing demand for dairy products globally and the presence of many market players providing milking robots are the major factors driving the market growth in Europe. DeLaval (Sweden), Dairymaster (Ireland), Lely (Netherlands), Fullwood JOZ (UK), Hokofarm-Group (Netherlands), and Connecterra B.V. (Netherlands) are some of the major companies that provide automatic milking solutions in Europe.

Key Players

Some of the key players operating in the milking robots companies include Lely (Netherlands), GEA Group AG (Germany), DeLaval (Sweden), Nedap Livestock Management (Netherlands), BouMatic (US), Fullwood JOZ (UK), Milkomax solutions laiteres inc. (Canada), System Happel GmbH (Germany), Waikato Milking Systems NZ LP (New Zealand), AMS Galaxy USA (US), and Dairymaster (Ireland).

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