On the back of escalating population, the food demands at an all-time high. However, arable land is limited, which raises a need for making the maximum out of each farm. Availability of cost-efficient labor has always been a struggle in conservatively populated developed countries but this restraint is also quite evident in emerging economies wherein urbanization is expanding. Consequently, the market for autonomous farm equipment is expanding, which essentially constitutes equipment such as auto-steering systems in farm tractors, irrigation machinery, harvesters, guidance systems, and drones. Increased focus of industry players to reduce overall grain production costs by the means of hardware and software and growing adoption of the Internet of Things (IoT) tools are some of the key factors that are poised to augment the demand in the global autonomous farm equipment market.
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On the other hand, the market is obstructed by the fact that various promising equipment are still in development phase. Autonomous farm tractors require a number of components such as sonar, lidar, and radar, most of whom are still in prototype phase. High cost of these equipment is also a major restraint that is holding the market from expanding profitably in rural areas of emerging economies.
This report has analyzed all important drivers and restraints of the autonomous farm equipment market, explored latest trends and opportunities, segmented it into smaller aspects, gauged the potential of demand that will be coming from different regions and countries, and profiles several prominent players for their market shares. The report has been developed as a business intelligence report for targeted audiences such as manufacturers of agriculture equipment including farm tractors, implements, and combines, suppliers and distributors, connected solutions and other advanced technology software providers, and government and regulatory authorities.
Autonomous Farm Equipment Market: Overview
The global market for autonomous farm equipment is expected to expand at a robust rate over the forthcoming years. The surge in demand within the market can be attributed to the rapid adoption of new techniques and technologies within farming. The increasing population gas placed an onus upon the agricultural sector to cater to the ever-increasing demand for food grains. This has in turn necessitated the presence of a robust set of farming equipment and devices that can augment production of crops. The market for autonomous farming equipment has trodden an escalating trajectory of growth over the past and is expected to continue on its streak of success. Autonomous farming equipment including driverless tractors and picking systems help in easing the tasks within farming from sowing to reaping of crops.
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The global market for autonomous farm equipment can be segmented based on the following criterion: type of product and geography. Each of these segments need to be closely scrutinized to gain an overview of the entire market.
The report presents valuable insights about the global market for autonomous farm equipment and is an authentic source of information for the market players and analysts. The report considers several forces operating in the market and syncs them together to give a wholesome view.
Autonomous Farm Equipment Market: Trends and Opportunities
Governments across the globe are under immense pressure to ensure that all the mouths within their administrative get adequate food resources. In order to do this, the productivity of the cultivable land needs to be optimized by deploying a range of devices and equipment that help in sowing and reaping the crops. Hence, the government has been extremely supportive for the farmers, which has increased demand for autonomous farm equipment in recent times. Furthermore, the scantiness of cultivable land calls for swift cycles of sowing and reaping. Since manual work takes more time, the demand for autonomous farming equipment has touched new heights in recent times.
Autonomous Farm Equipment Market: Geographical Landscape
The agricultural sector in the US has been amongst the most splendid ones in the world. The government has always fortified the agricultural sector in the US by providing subsides and other benefits. Hence, the market for autonomous farm equipment in North America has attracted commendable demand in recent times. In Europe, the farmers have resorted to the use of nascent technologies in order to accelerate the process of sowing and cultivation. India’s reliance on the agricultural sector for its GDP has directly influenced the growth of the global market for autonomous farm equipment across Asia Pacific.
Autonomous Farm Equipment Market: Competitive Landscape
John Deere, AGCO, Case IH, Agricultural Solutions Ltd, Agribotix, Autonomous Tractor Corporation, and Agrobot are amongst the key player in the global market for autonomous farm equipment.
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