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(I-AutoNewsWire.com, April 18, 2022 ) The global autonomous farm equipment market will increase at an impressive 13.6% CAGR during the forecast period, 2017-2026. The report further projects global sales of autonomous farm equipment to account for revenues worth nearly US$ 170,000Mn by 2026-end.
Agriculture is one amongst the most overbearing industry since the beginning of human civilization. Constant growth in population, increasing need for food, fuel and feed is anticipated to influence trifold of the present-day cultivation. For this purpose, strategies such as initiation of autonomous farming and mechanization are adopted on a larger basis for yielding more from the constrained arable land. Increasing labor shortage and changing trends for the use of autonomous equipment are driving the demand for autonomous farm equipment. Development of IoT along with GPS systems application has transformed the agriculture industry.
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FACTS AT A GLANCE
Companies: New Holland, Case IH, John Deere, AGCO Corporation, Iseki & Co., Yanmar, Deutz Fahr, Kubota, Claas KGaA GmbH, and Bobcat (a Doosan company).
Coverage: All major geographies and key segments
Segments: Autonomous Farm Equipment Market Segmented By Fully Autonomous, Partially Autonomous Mode of Operation for Tractors, Harvesters, Tiller, Seed Drill
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Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
Strong product outlook owing to increasing use of harvesters and tractors, curbing labor forceful work and higher productivity will drive the demand for the industry. Implementation of IoT as well as advanced methods such as GNSS system and precision farming will further boost the business growth. Periodic labor shortage along with growing use of autonomous devices, which provides better efficiency and higher productivity will increase the implementation of autonomous farm equipment.
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Technological innovation along with development of auto driving and self-steering systems in tractors will supportively influence the penetration of equipment. Increasing startups concentrating majorly on robotics uses in agriculture and decrease of complete operational costs of agricultural processes and growing yield will increase product use in the industry. Additionally, the device can work in extreme weather settings dipping the working time and improving profitability.
Persistence Market Research has created a report offering a comprehensive market analysis with the support of inputs from industry professionals, by ensuring significant and robust information, with the help of effective trial design and endpoint valuation. This report is an all-inclusive study concerning current trends in the farm equipment market, advanced technology, industry growth boosters and limitations. The report additionally delivers market estimate for the upcoming years. Report is inclusive of a valuation of macro & micro aspects vital for the predominant market players along with new entrants and detailed value chain study. The report covers existing scenario and growth forecasts of autonomous farm equipment market for 2017-2026 period.
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