Tractors is anticipated to dominate the revenue share of autonomous farm equipment market contributing over 50% by 2024. Superior operating efficiency of tractors coupled with shifting trends towards usage of product are driving the business growth. The successful application of GPS systems in agriculture and the deployment of IoT in the farming sector notwithstanding, autonomous farm equipment industry trends are expected to escalate in the forthcoming years. As per estimates, autonomous farm equipment industry size is expected to exceed 3 million units by 2024, in terms of volume.
Compatibility of software with the devices along with user friendly interface offers smooth functioning of the product. High preference of the software availability owing to increase digitalization along with superior precision will further enhance the autonomous farm equipment market growth.
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One of the most noteworthy trends of autonomous farm equipment market in recent times is the rapid entry of start-ups in this business vertical, posing quite an interesting competitive scenario for prominent players. With the profound growth in the arena of robotics, entrants in autonomous farm equipment industry have been attempting to actively tap every lucrative opportunity to come up with unique product ranges.
Farmers and contractors are focusing of implementation of cost effective solutions that boosts farm yield. Implementation of driverless tractors, harvesters and UAV offering smooth functioning and precise data collection will fuel the autonomous farm equipment market.
Europe autonomous farm equipment market is estimated to depict significant growth up to 2024. Product usage offers better fuel efficiency and superior productivity that will propel the business growth. Asia pacific, led by China, South Korea, Australia and Japan is anticipated to witness strong growth over 25% up to 2024. Shifting trend towards smart devices owing to development of agrarian economies such as India in the region, will positively influence the product penetrat
North America autonomous farm equipment market is anticipated to dominate in 2016 owing strong presence of well-established industry players in the region. High revenue generation can be attributed to surging demand of products such as tractors, UAV and harvesters installed with autosteering functions.
Case IH, Agribotix, Agrobot, AGCO, John Deere, Harvest Automation, Autonomous Tractor Corporation, CLAAS and Mahindra are prominent players included as service provider and component manufacturer. Merger and acquisition are certain strategies adopted key industry players.
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Major Table of Content
Chapter 4 Autonomous Farm Equipment Industry Analysis by Operation
4.1 Market share by operation, 2016 & 2024
4.2 Fully autonomous
4.3 Partially autonomous
Chapter 5 Autonomous Farm Equipment Industry Analysis by Product
5.1 Market share by product, 2016 & 2024
5.4 UAV drone
Chapter 6 Autonomous Farm Equipment Industry Analysis by Technology
6.1 Market share by technology, 2016 & 2024
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