Autonomous Tractors Market Analysis - AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra

Increase in need for more food in the developing countries due to large population and significant development of autonomous tractors to perform rigorous farming tasks such as tillage & harvesting, drive the growth of the autonomous tractors market. Furthermore, the encouragement & initiatives provided by the government to adopt autonomous tractors offer significant growth potential for the global market. In addition, continuous inflow of new, innovative & technologically advanced autonomous tractors offer lucrative opportunities for the market. However, high initial investment, maintenance, & manufacturing costs of these tractors hinder the growth of the market.

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The key players profiled in this report are AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra, Trimble, and Yanmar.

According to a new report published by Allied Market Research, titled, Autonomous Tractors Market: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global autonomous tractors market was valued at $648.9 million in 2016, and is expected to reach at $4,389.8 million by 2025, growing at a CAGR of 24.0% during the forecast period. The GPS segment accounted for almost one-third of the market share in 2016 and is expected to witness significant growth during the forecast period.

Market Drivers

High Operational Efficiency

Autonomous tractors offer numerous advantages to the farmers such as improved productivity and great accuracy which further result in preservation of crops, and thus, higher return-on-investment (ROI). In addition, with the use of autonomous tractors, farmers undertake farming operations at any time of the day, thereby helping them to work for longer hours. Further, characteristics like auto-steering helps farmers to do farming with superior reliability, thus, driving the growth of the market.

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Autonomous tractors are self-driving mechanical farming vehicle that perform various agricultural applications with the help of advanced technology. There is an increase in demand for the machine, owing to the rise in demand for more food globally. In addition, huge benefits offered by the tractors and increased income of farmers by use of these tractors are expected to propel the market growth. However, lack of awareness and technology integration among farmers pose a threat to the market growth. Moreover, the establishment of drones in farming offer lucrative opportunities for the market to grow.

The tillage in the application segment has t he largest market share in the global autonomous tractors market during the forecast period. Its market share is expected to grow because of the new innovative tools such as Soil Command by Case IH to perform smart tillage. Furthermore, others in the components segment is expected to grow at the highest CAGR during the forecast period, owing to the capability of radar and LiDAR to detect obstacles as well as ability of telematics to monitor the autonomous vehicles.

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Autonomous Tractors Market Key Segment:

By Component

• Sensor
• GPS
• Vision system
• Others

By Application

• Tillage
• Harvesting
• Seed Sowing
• Irrigation
• Spraying
• Fertilizing

Key Market Players Profiled in the Report

• AGCO Corporation
• Autonomous Solutions, Inc.
• Autonomous Tractor Corporation
• CNH Industrial
• Deere & Company
• KINZE Manufacturing
• Kubota Corporation
• Mahindra & Mahindra
• Trimble
• Yanmar

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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