Precision farming improves yield by enabling farmers to use the correct amount of inputs such asfertilizers, water and seeds. This is supported by autonomous farm equipment that incorporates real-time positioning and crop data to improve productivity.
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Increased farm mechanization in regions such as North America, rising labor costs due to shortage of skilled labor, increasing pressure on global food supply due to rising population, and government initiatives to implement modern agricultural techniques are some of the major factors driving the growth of the global precision agriculture industry. Rising demand for implementation of precision farming is driving the sales of autonomous farm equipment.
The market witnessed a marginal dip in 2020 owing to the COVID-19 pandemic, as lockdowns and restrictions in movement resulted in shortage of equipment and led to disruptions in the supply chain. However, the market is getting back on its feet gradually, and is expected to offer lucrative growth over the coming years.
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As per Fact.MR’s analysis, the global autonomous farm equipment market is expected to expand at a healthy CAGR of around 19% from 2021 to 2031.
Fact.MR has studied the autonomous farm equipment market with detailed segmentation on the basis of mode of operation, equipment, technology provider, and key regions.
|Mode of Operation||
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Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for autonomous farm equipment are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global autonomous farm equipment market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
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Country-specific valuation on demand for autonomous farm equipment has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading providers of autonomous farm equipment, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in manufacturing autonomous farm equipment has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take various steps in advancing their businesses.
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Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing the readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the autonomous farm equipment market. Prominent companies operating in this space include Trimble Inc., AGCO Corporation, CNH Industrial N.V., Yanmar Holdings Co., Ltd., Kubota Corporation, Iseki & Co., Ltd., Mahindra & Mahindra Ltd, Escorts Limited, Zimeno Inc. (Monarch Tractor), Autonomous Tractor Corporation, Autonomous Solutions, Inc., Deere & Company, NovAtel Inc. (Hexagon), Agjunction, Inc., AG Leader Technology, Inc., Raven Industries (Applied Technology), and Bear Flag Robotics.
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