Press release
Soaring Demand Set to Propel Autonomous Farm Equipment Market to $107.14 Billion by 2029
Autonomous Farm Equipment Market
What Is the Expected CAGR for the Autonomous Farm Equipment Market Through 2025?
The market size for autonomous farm equipment has been on a steady rise over the recent years. The projections indicate an increase from $81.41 billion in 2024 to $86.54 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 6.3%. Factors contributing to this growth during the historic period include labor scarcity, the adoption of precision agriculture, and environmental considerations.
What's the Projected Size of the Global Autonomous Farm Equipment Market by 2029?
The market size for autonomous farm equipment is forecasted to experience significant expansion in the coming years, escalating to a value of $107.14 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. Factors contributing to the projected expansion during this forecast period include enhanced connectivity, farming based on data, cost-cutting measures, mitigation of climate change, ensuring worldwide food security, and agriculture guided by data. Technological progress, the emergence of startups, and innovation, along with farm-as-a-service models, customization and adaptability, cooperative and independent swarming are all significant trends expected during this forecast period.
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Top Growth Drivers in the Autonomous Farm Equipment Industry: What's Accelerating the Market?
The growth of the autonomous farm equipment market is significantly influenced by the escalating usage of autonomous tractors. These tractors, equipped with advanced systems and sensors, act as proficient self-driving vehicles. By integrating these state-of-the-art systems into everyday farming, farmers will reap the benefits of technological advancements in their work environment. Additionally, these autonomous tractors can be configured to operate as mobile hotspots, gathering field data from surrounding sensors. Moreover, it's predicted that 34.5% of the international demand for self-sufficient farm machinery will continue to require 31-100 HP output of farm tractors from Asia-Pacific by 2026. As a result, the rising need for autonomous tractors is projected to bolster the expansion of the autonomous farm equipment market.
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What Trends Will Shape the Autonomous Farm Equipment Market Through 2029 and Beyond?
Firms within the self-driving farm machinery sector are increasingly harnessing artificial intelligence (AI) to enhance their equipment. AI technology allows machines to perform an array of tasks independently, this is due to their programming and significant computational capabilities. For instance, in February 2022, Verdant Robotics, a U.S. company specializing in the production of robotic systems, advanced its robot-as-a-service (RaaS) offering by incorporating an autonomous farming robot. This robot utilizes computer vision, AI, robotics, GPS-denied navigation, chemistry, along with soil and plant sciences to pioneer new levels of crop production.
What Are the Main Segments in the Autonomous Farm Equipment Market?
The autonomous farm equipmentmarket 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
Subsegments:
1) By Tractors: Autonomous Tractors For Tilling, Autonomous Tractors For Planting, Autonomous Tractors For Spraying
2) By Harvesters: Autonomous Combine Harvesters, Autonomous Forage Harvesters
3) By Unmanned Aerial Vehicles (UAVs): Crop Surveillance UAVs, UAVs For Precision Agriculture, UAVs For Crop Spraying
4) By Other Product Types: Autonomous Seed Planters, Autonomous Irrigation Systems, Autonomous Soil Monitoring Equipment
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Which Top Companies are Driving Growth in the Autonomous Farm Equipment Market?
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.
Which Regions Will Dominate the Autonomous Farm Equipment Market Through 2029?
Asia-Pacific was the largest region in the autonomous farm equipment market in 2024. North America was the second largest region in the autonomous farm equipment market. The regions covered in the autonomous farm equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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