Press release
Farming 4.0: The Future of Autonomous Farm Equipment
As per the report, the autonomous farm equipment market size has grown strongly in recent years. It will grow from $75 billion in 2023 to $80.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Autonomous Farm Equipment Market Report Structure
3. Autonomous Farm Equipment Market Trends And Strategies
4. Autonomous Farm Equipment Market - Macro Economic Scenario
5. Autonomous Farm Equipment Market Size And Growth
…..
27. Autonomous Farm Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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