Autonomous Agriculture Equipment Market Cultivating the Future: A Look at the Growing

Autonomous Agriculture Equipment Market to reach over USD 60.30 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Autonomous Agriculture Equipment Market Size, Share & Trends Analysis Report By Type (Autonomous, Semi-Autonomous), Product (Tractors, Unmanned Aerial Vehicles (UAVs), Robots) And Application (Planting, Harvesting, Spraying)- Market Outlook And Industry Analysis 2024-2031"

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The Autonomous Agriculture Equipment market is estimated to reach over USD 60.30 billion by 2024-2031, exhibiting a CAGR of 20.81% during the forecast period.

The market for autonomous agricultural equipment is on the rise, fueled by the availability of various cutting-edge technologies. This expansion is anticipated to be driven by a surge in the use of automated machinery and equipment, robotics, autonomous vehicles, sensors, and navigation systems.

Several factors are expected to contribute to the increasing demand for autonomous agriculture equipment. One key driver is the growing reliance on advanced technologies to boost global productivity. Additionally, autonomous equipment offers the potential to optimize crop yields and reduce waste. Finally, labor shortages and high labor costs are pushing farms to adopt automated technologies, making autonomous agricultural equipment an attractive solution.

Autonomous Agriculture or farming is the use of autonomous or self-driving machinery and equipment in agriculture. This involves the use of advanced technologies such as artificial intelligence, sensors, GPS. Autonomous farming equipment can include tractor, combine, harvester, and other machinery that are used in various farming operations. These machines can be programmed to commit specific tasks, such as planting, harvesting, tilling, and spraying, without the need for human intervention. Autonomous agriculture equipment has positive agriculture operations and livestock farming.

List of Key players in the Autonomous Agriculture Equipment Market:
• Kubota Corporation
• Delair
• Hexagon Agriculture
• AGCO Corporation
• Naio Technologies
• CLAAS KGaA mbH
• DJI
• CNH Industrial N.V.
• Parrot Drone SAS
• AgEagle Aerial System Inc
• Deere & Company
• YANMAR HOLDING Co. Ltd.
• YTO GROUP CORPORATION
• Autonomous Tractor Corporation
• Mahindra & Mahindra Ltd.

Market Dynamics:
Drivers-
Rise in the adoption of advanced technical solutions in farming. With manufacturers incorporating more cutting-edge features in their products and the agriculture sector gaining momentum, autonomous farm equipment providers are expected to come across lucrative opportunities in the near future. Furthermore, the Incorporation of artificial intelligence has brought about drastic changes in autonomous farm equipment, while the recovery of the agriculture industry is forecast to pave new paths for suppliers in the coming years.

Challenges:
The prime challenge is the high initial investment and lack of awareness regarding agriculture sector in developing countries, predicted to reduce growth of the autonomous equipment agriculture market. Due to the COVID-19 pandemic, research & development has decreased funding, halted manufacturing activities,

and had raw material supply chain disruption. In addition, the positive impact of covid-19 has been seen in autonomous farming solution adoption, such as autonomous tractors, robots, drones, harvesters, planters, and sensors by farmers owing to the lack of workers, which increased demand for autonomous agriculture equipment worldwide.

Regional Trends:
North America generated the highest revenue of CAGR shortly. The region is experiencing a growth in the adoption of autonomous agriculture equipment such as autonomous vehicles, drones, robots, irrigation systems, and other automation and control systems.

In addition, the augmented adoption of digital technologies for modern farm machinery in efficient crop production in the region, along with the incline in popularity of indoor farming owing to urbanization. In addition, the North American region is also anticipated to grow at a faster rate. Besides, Germany is attracting potential investors from all over the world due to the country's manufacturing facilities using cutting-edge technology.

Sales of autonomous farm equipment are anticipated to grow in the nation as a result of increased government investment and fresh initiatives, and advanced machinery aimed at bolstering the agriculture sector.

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Recent Developments:
• In December 2022, CNH Industrial NV introduced new driverless tillage and driver-assist harvest solution under the brand names of CASE IH and New Holland. This strategy has enhanced the product portfolio of the company in the market.

• In June 2022, AgXeed launched a new four-wheeled 75hp autonomous tractor. This new product, named Agbot2,055W4, is specifically suited for seed-bed preparation, sowing and mechanical weeding.

• In January 2022, in an announcement, Deere & Company unveiled a fully autonomous tractor ready for large-scale production. Deere's 8R tractor combines a TruSet-enable chisel plow, GPS guidance system, and new advanced technologies.

Segmentation of Autonomous Agriculture Equipment Market:
By Type-
• Autonomous
• Non- autonomous

By Application-
• Planting
• Harvesting
• Spraying
• Other Applications

By Products-
• Tractors
• Unmanned Aerial Vehicles (UAVs)
• Robots
• Other Products

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of middle East and Africa

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This release was published on openPR.