In a recent published report, Kenneth Research has updated the market report for Milking Robots Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Milking Robots Market products.
Kenneth Research, in its repository of market research reports, have recently added a report on Milking Robots Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Milking Robots Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
Kenneth Research has published a detailed report on Milking Robots Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Milking Robots Market was valued at USD 1.16 billion in 2016 and is projected to reach USD 2.99 billion by 2025, growing at a CAGR of 11.12% from 2017 to 2025.
The Milking Robot helps in automatic milking process in which it connects automatically to the cow’s teats and turn off when the milking is complete. This system allows milk to flow into a pipeline in preparation for shipping to a processing plant. Benefits of milking robots include – can free up labor, improve the quality of the life, greater time flexibility, collect the valuable data and information, better herd health and reproduction, and increased milking frequency.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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1. Market Drivers
1.1 Rising investments toward development of milking robots on dairy farms
1.2 Rapidly increasing herd size of dairy farms
1.3 Technological advancements and product launches
1.4 Reduction in labor cost due to automation on dairy farms
2. Market Restraints
2.1 Poor standardization of milking robotics technology
2.2 Issues with the integration of milking robots with grazing dairy system
2.3 High cost
The Global Milking Robots Market is segmented on the system type, component, herd size, and region.
1. System Type:
1.1 Single-Stall Unit
1.2 Multi-Stall Unit
1.3 Automated Milking Rotary
2. By Component:
2.1.1 Local/Web based
2.1.2 Cloud based
2.2.1 Sensing and Monitoring Devices
2.2.2 Automation and Control Devices
2.3.1 System Integration and Consulting Services
2.3.2 Managed Services
3. By Herd Size:
3.1 Below 100
3.2 Between 100 and 1,000
3.3 Above 1,000
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. GEA Group AG
2. Fullwood Ltd
3. SCR Dairy, Inc.
4. Waikato Milking Systems LP
6. Hokofarm Group B.V.
7. Lely Holding S.A.R.L.
8. Boumatic LLC
10. Afimilk Ltd.
11. S.A. Christensen & Co.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Milking Robots Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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