Autonomous Farm Equipment Market Size to hit USD 155.31 Bn by 2027, Says Brandessence Market Research
LONDON, Aug. 16, 2022 /PRNewswire/ -- Autonomous Farm Equipment Market is valued at USD 62.89 Billion in 2020 and is expected to reach USD 155.31 Billion by 2027 With a CAGR of 13.7% Over the Forecast Period. Increasing investment in the agriculture sector, rising use of autonomous tractors, and recent developments regarding autonomous farm equipment is the major factor driving the growth of Global Autonomous Farm Equipment Market.
Autonomous Farm Equipment Market Size, Share & Trends Analysis Report by Product (Tractor, Harvester, Tiller, Seed Drill, Other), By Capacity (Up To 30 HP, 31-100 HP, Above 101 HP), By Application (Fully Autonomous, Partially Autonomous), Based On Region, And Segment Forecasts, 2022 – 2028
Autonomous Farm Equipment Market: Market Scope
The global autonomous farm equipment market is going to see a good growth in the coming years as there is a growth in the demand for the equipment particularly from the areas where the farmer population is low. The regions will augment the growth of the market. There are many companies in the sector which are focusing on the research and development activities for the expansion of the portfolios of their product and improving the experience of the customers. There are newer products coming into the market which offers the consumers with newer, more innovative and better ways of farming.
Autonomous Farm Equipment Market: Competitive Analysis
Some of the major autonomous farm equipment companies 2021 are AGCO, 3D Robotics, Agritronics, Agribotix (AgEagle), American Robotics (ONDAS), AgXeed, Bobcat Company (Doosan), Autonomous Solutions Inc., CNH Industrial NV, Clearpath Robotics, DJI, Ecorobotix, Energid, Deutz-Fahr (SDF Group), John Deere, Kinze Manufacturing, Farmdroid ApS, Mahindra and Mahindra, Kubota, Precision HAWK, Robert Bosch GmbH, Naio Technologies and Rowbot, and Yanmar Holdings Co., Ltd. The global autonomous farm equipment key players are working hard on the growth of the investment on research and development and innovation which is going to lead the growth of the market. The adoption and increase in income levels will help the companies see grow their share in the market.
Autonomous Farm Equipment Market: Key Drivers
Autonomous farm equipment growth is going to be based on the increase in demand for the completely autonomous agricultural equipment which has increased, and it helps in solving the rise in the concerns for the labor being short while it also at the same time enhances the productivity and the efficiency which leads to a higher yield. the technology has enabled the stable operations and the farmers can now regulate the activities even if they are not present. The innovative path-generating techniques determine the most efficient design for coverage of area for a field based on the type of task, implement size, vehicle and the vehicle volume in a field and the implement turn radius. It comes outfitted with the vehicle control unit which manages the functions, transmits the real-time statuses and health information for the remote user.
The increase in the availability of the autonomous harvesters for picking the fresh produce is going to help the growth of this market. It also features the decentralized arms structure which allows the establishment and maintenance of an optimum level of accuracy. For collecting all information, the harvesters are going to utilize the real-time AI and onboard a short-range integrated infrared and color depth sensors. This is a visual processing system which aids in the determination of the ripeness of the fruits and vegetables. This is a device which is outfitted with the LiDAR sensors for the protection and the safety of workers on their field. The players in the market are now undertaking partnerships for designing the products in an innovative manner.
The equipment is going to see a great amount of growth in the developed countries as there is a rise in the issues related to the workforce in this sector. The major players who are engaged in this market are now improving their solutions and are putting their emphasis on the differential products. This is helping the market grow as there are new product offerings for a high set of customers and they will benefit greatly from the newer features whch will help in the tackling of the labor shortage issues. The farming equipment market is going to see gains as the users have a greater choice to choose from and more features in the product.
Autonomous Farm Equipment Market: Key Trends
Autonomous farm equipment trends suggest that the pandemic has negatively impact the market growth. This is an outbreak that had enforced the governments to impose the strict lockdowns and measures to curb the spread of the deadly coronavirus. This also led to travel restrictions. It has further hindered the logistics and manufacturing capabilities of the companies therefore impacting the sales of the product. Further, the introduction of the travel regulations and a shortage of developed labor to the farm owners is creating the barriers in terms of hiring a workforce which is suitable for the conducting of applications across the field. This is a factor that has encouraged the growers into implementing the advanced technologies for continuing to work and increase the productivity.
Artificial intelligence in the agriculture is going to drive the demand for the autonomous farm equipment. There are different advantages of the artificial intelligence which includes the precision farming capabilities and enhanced solutions for the timely harvesting, soil management, efficient cultivation, and the use of the advanced analytics for improving the agricultural output. Autonomous farm equipment 2022 looks like it will grow with the demand coming from various sectors in the post coronavirus world.
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Kubota Launched Self-Driving Rice Planting Machine: On October 19th, 2020; Kubota Corp. launched self-driving rice planting machine. Kubota is the one of the key players of the autonomous farm equipment market. Kubota provides automated agricultural solutions to the farmer. The rice planting machine creates a map of the rice field using GPS then driven by a human around the perimeter of the field. After, machine calculates its rice-planting direction based on the map and robotically plant rice seedlings. The advantage of the planting machine is the driver is not required for operating this machine. The automated rice-planting machine reduces the labor cost. One of the persons monitoring the machine can also refill it with seeding.
Autonomous Farm Equipment Market: Segmentation Analysis
The segment of the unmanned aerial vehicles which can perform the various tasks which include the crop monitoring, health and irrigation valuation of crops and spraying is going to boost the growth of the market. The users have an option of easily obtaining the -necessary plant-specific metrics and features based on the acquired data across spectrums. They have the option of evaluating the plant-health and do so real-time, identify weeds and insects instantly and employ the measures of crop protection for ensuring the precision management of agriculture.
Autonomous Farm Equipment Market: Regional Analysis
Autonomous farm equipment statistics suggest that the North American region is going to show a great amount of growth with the rise in the research and development activities. The increase in income of farmers in the agricultural sector is going to offer great significant growth opportunities. As per the United States Department of Agriculture, the income is going to grow sizably in the coming few years. A growth in the population and its demand for the food safety with the usage of innovative technologies is going to increase the produce of the farm.
On Special Requirement Autonomous Farm Equipment Market Report is also available for below region:
Middle East and Africa
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