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New IDTechEx Report Outlines the Future of the Agricultural Robotics Industry
Reading Time: 4 minutes
IDTechEx has recently released “Agricultural Robotics Market 2022-2032“, a market research report exploring the technical and market factors that are shaping the emerging industry around agricultural robotics. This report is focused on key technologies (e.g., AI, sensors, GPS, imaging systems, etc.) and applications (weeding, harvesting, monitoring, etc.). It analyses recent challenges in the agriculture industry due to the COVID-19 pandemic and how robotics and technology developments will change the business of agriculture, enabling ultra-precision farming, helping to mitigate the challenges, and
maintaining sustainable developments.
The report develops a detailed roadmap of how these challenges have influenced the agriculture industry, what technologies have been widely applied as of today, what are the typical application areas of agricultural robots, and what makes different application areas have various maturity and technology readiness levels (TRL).
In particular, this report provides:
- Agricultural robots’ categorization: Based on the technology and applications, the report categorizes agricultural robots into different types. For each type, a detailed chart was made to evaluate the technical difficulty and application value, thereby deciding its
stage of development/commercialization. - “Agricultural Robotics Market 2022-2032“, provides a generalized chart of the technical difficulty, application value, and level of adoption. Source: IDTechEx
- Application assessment: Detailed application assessment covering 8 major application areas including weeding and pest control, robotic seeding, fully autonomous tractors, autonomous implement carriers, and platform robots, harvesting robots, drones, milking robots, and others. For each sector, the report outlines its current stage of development, technology progression, drivers and challenges (both technical and regulatory), and key products from active players in the market. The market size of each application is projected in the forecast chapter.
- Technology assessment: Detailed technology assessment covering different products ranging from prototypes at the proof-of-concept phase to robots on a commercially available level. The report analyses the key technologies and components including sensors (e.g., cameras, LiDAR, Radar, etc.), imaging systems (e.g., hyperspectral imaging), end-effectors, AI, precision spraying, and many others. The technology assessment gives a holistic view of what components are more commonly used in different robots, how different components synergize to achieve the functionality, and the technical barriers when they work together.
- Market analysis: Although there has been a wide range of agricultural robots designed for different specializations, they have different levels of maturities due to different business models, target crops, return on investment, and so on. This report analyses several business models and explains investors’ commercial challenges and concerns.
- Company profiles: More than 30 interview-based full company profiles with detailed SWOT analysis, over 40 company profiles without SWOT analysis, and the works of more than 80 companies listed and summarised.
- Market forecasts: Granular 10-year (2022 – 2032) segmented market forecast for 6 categories including milking robots, weeding and seeding robots, autonomous tractors and implement carrying robots, drones, harvesting robots, and other applications. The report also contains 2 additional forecasts covering the total market size and unit sales for autonomous tractors and implement tractors. The market forecasts are primarily segmented by regions, thereby helping you to understand which territory is expected to have the fastest growth. Meanwhile, some forecasts are segmented based on application areas. All our assumptions and data points are clearly explained in the report and
Excel spreadsheet.
The adoption of agbots is determined by both technical difficulty and application value
Although the technologies can vary significantly depending on the tasks, IDTechEx summarizes them into three mainstream categories that are autonomous mobility, direct interaction, and indirect interaction. The report explains how IDTechEx categorizes agricultural robots into these three categories, as well as within each category, the barriers and timeline of development, and what drives the core demand of farmers.
A good example is weeding robots and harvesting robots. One of the fundamental factors causing differences in the popularity of these two robots is the demand. In agriculture, harvesting is typically only needed for a few months, therefore, farmers are less willing to invest too much to get a machine that can only be used for a short period. By contrast, weeding machines are much more popular because weeding is constantly needed throughout the year. For this reason, weeding robot is much more commercialized available than harvesting robots.
Forecast: Global market of agricultural robotics is projected to reach $7.88 billion by 2032
The global market for agricultural robots is forecast to reach $7.88 billion by 2032, with a CAGR of 13.09% compared with 2022. By 2032, Europe remains the largest market, followed by North America, APAC, South America, and MEA. North America and APAC are expected to have the quickest growth in the upcoming decade whereas Europe has the slowest growth.
Agricultural Robots Market Forecast by Region 2032. Source: IDTechEx – “Agricultural Robotics Market 2022-2032”
To find out more about IDTechEx’s technical and commercial analysis of the agricultural robotics industry, please visit www.IDTechEx.com/agri. This report falls within the Food & AgTech research portfolio.
Upcoming IDTechEx Webinar:
Solutions to Modern Agriculture Issues – Agricultural Robotics Market Gaining Momentum
Yulin Wang, Technology Analyst at IDTechEx, will be presenting a free-to-attend webinar on the topic on Thursday 3 February 2022 – Solutions to Modern Agriculture Issues – Agricultural Robotics Market Gaining Momentum.
This webinar will include:
- A summary of key challenges faced by the agriculture industry
- The typical agricultural robotics applications, their level of development, and how IDTechEx categorizes them into three different themes
- An overview of how technical difficulty and application value will affect commercialization and adoption
- A discussion of key enabling technologies and components
- An evaluation of the barriers in the agricultural robotics industry
- An explanation of the technical forecasting chart of how IDTechEx sees the industry going in 10 years
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The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
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French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
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