Press release
Autonomous Farm Equipment Market Overview 2024-2033 - Market Research, Insights, Demand, and Outlook: A Holistic Examination
Autonomous Farm Equipment Market Overview
The autonomous farm equipment market size is expected to see strong growth in the next few years. It will grow to $102.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to improved connectivity, data-driven farming, cost reduction, climate change mitigation, global food security, data-driven agriculture. Major trends in the forecast period include technological advancements, emerging startups and innovation, farm-as-a-service models, customization and adaptability, collaborative and autonomous swarming.
Market Overview -
The autonomous farm equipment refers to the equipment used for agriculture, horticulture, animal husbandry, and forestry. Within a unified framework, autonomous farming is the modelling and regulation of agricultural machinery. These farming technologies use the on-farm sensing and control power of automated farming equipment to reach agronomy-based targets.
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Autonomous Tractors Transforming The Autonomous Farm Equipment Market
The increasing use of autonomous tractors is a key factor driving the growth of the autonomous farm equipment market. Autonomous tractors use several sophisticated systems and sensors which would possess an effective self-driving vehicle, and by incorporating these advanced systems into run-of-the-mill farming, farmers will experience positive technological effects in the workplace. Alternatively, autonomous tractors can be set up to function as mobile hotspots to collect data from sensors in the field. Also, about 34.5% of the global demand for autonomous farm machinery will retain the 31-100 HP output Asia-Pacific of farm tractors in 2026. Therefore, the demand for autonomous tractors is expected to drive the growth of the autonomous farm equipment market.
Competitive Landscape -
Major companies operating in the autonomous farm equipment market include CLAAS KGaA mbH, DEUTZ-FAHR S.p.A., AGCO Corporation, Deere & Company, CNH Industrial N.V., Agrobot S.L., Autonomous Tractor Corporation, Yanmar Co. Ltd., Iseki & Co. Ltd., Kubota Corporation, Bobcat Company, Agribotix LLC, Agricultural Solutions Ltd., Harvest Automation Inc., Mahindra & Mahindra Limited, Energid Technologies Corporation, Autonomous Solutions Inc., Agritronics Corporation, Kinze Manufacturing Inc., SDF S.p.A., Rowbot Systems LLC, Robotic Harvesting LLC, Jaybridge Robotics LLC, Agrobotics AutoProbe Inc., Naio Technologies, CNH Industrial America LLC, Ted Corporation, Dino Autonomous Robot Inc., Swift Navigation Inc.
Ai Advancements In The Autonomous Farm Equipment Market
Companies in the autonomous farm equipment market are focusing on the use of artificial intelligence (AI) for the development of farm equipment. AI enables machines to do a variety of tasks without the assistance of humans. Machines are programmed to accomplish activities independently after being developed with high-level computing capability. For example, in February 2022, Verdant Robotics, a US based company that manufactures robotics systems, has expanded its robot-as-a-service (RaaS) model with autonomous farm robot including computer vision, artificial intelligence, robotics, GPS (global positioning system)-denied navigation, chemistry, and soil and plant sciences to achieve the next generation of crop production.
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Key Segments -
The autonomous farm equipment market covered in this report is segmented -
1) By Product Type: Tractors, Harvesters, Unmanned Aerial Vehicles (UAVs), Other Product Types
2) By Technology: Partially Autonomous, Fully Autonomous
3) By Application: Agriculture, Horticulture, Animal husbandry, Forestry, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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