When globalization is intensifying day by day, many businesses call for global market research for actionable market insights and to support decision-making. The scope of the global Autonomous Farm Equipment Market report extends from market scenarios to comparative pricing between major players, cost, and profit of the specified market regions. Market drivers and market restraints mentioned in this market analysis report help businesses gain an idea about the production strategy. Also, the identity of respondents is also kept undisclosed and no promotional approach is made to them while analysing the data.
The Autonomous Farm Equipment Market report gives CAGR value fluctuation during the forecast period of 2022-2032 for the market. Important industry trends, market size, and market share estimates are analyzed and mentioned in the report. This report helps the firm in exploring new uses and new markets for its existing products and thereby, increasing the demand for its products. The market document provides an in-depth overview of product specification, technology, product type, and production analysis considering major factors such as revenue, cost, and gross and gross margin. The global Autonomous Farm Equipment Market report is comprehensive and opens the door to the international market for the products.
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According to Fact.MR’s analysis, the global autonomous farm equipment market is expected to expand at a healthy CAGR of around 19% from 2021 to 2031.
Key points from the market study
- The demand for autonomous farm equipment is increasing with the mechanization of agriculture, the availability of advanced technologies and sustainable farming practices.
- Sales of autonomous agricultural equipment such as fully and partially autonomous tractors are increasing worldwide. The growing electrification trend and high demand for sustainability, remote sensing and ease of use are driving demand.
- The gradual increase in raw material costs and tariff prices are some of the challenges impacting the growth of the market.
- North America and Europe hold a significant share in the global market. In these regions, high disposable income combined with rising population growth, high investment in agricultural infrastructure, and growing trend of farm automation have led to increased demand for autonomous agricultural equipment.
- By mode of operation, partially autonomous agricultural machinery is expected to hold the majority of market share by 2021.
- For equipment, tractors will be widely used due to their use in a wide range of applications on farms.
- The market in the United States and Canada is projected to progress at approximately 11% and 9% CAGR respectively, while that in the United Kingdom and Germany at approximately 9% and 10% CAGR respectively, through 2031.
“Increased demand for semi-autonomous agricultural machinery will have a positive impact on market growth in the coming years,” says an analyst at Fact.MR.
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The market is highly competitive in nature, with the presence of a large number of players operating in the panorama. Major players are taking steps to expand their businesses and market share. The major players in the market are introducing more high quality products to stay ahead of the competition by providing smart farming technology in their products.
Targeted acquisitions and better product offerings with advanced technology are key to sustaining the market.
- In May 2017, Trimble Inc. announced an agreement to acquire privately held Müller-Elektronik, a German company specializing in implement control and precision agriculture solutions.
- In January 2021, AGCO joined the NEVONEX partner network as part of AGCO’s ongoing strategy to make it easier for farmers to work seamlessly on their farms. Through this partnership with NEVONEX, AGCO joins other industry leaders in crop care, seed, farm management information system (FMIS) and precision agriculture, including Corteva, MyEasyFarm, Syngenta, Topcon and Xarvio, to offer advanced digital services on AGCO equipment, these businesses are more sustainable through more efficient application of inputs.
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Main market segments covered
- Operating mode
- Fully autonomous agricultural equipment
- Partially autonomous agricultural equipment
- By equipment
- Autonomous farm tractors
- Autonomous agricultural harvesters
- Technology provider
- Autonomous Agricultural Equipment Manufacturers (OEMs)
- Third Party Technology Vendors
- North America
- Latin America
- East Asia
- South Asia and the Pacific
- Middle East and Africa
What is the commercial potential of autonomous farm equipment?
Farm equipment automation offers many benefits, including precise and reliable operations, non-stop operation regardless of weather or weather, and long-term solutions for heavy and complex operations, including harvesting and ploughing.
Compared with traditional agricultural equipment, self-contained agricultural equipment saves time and cost in the yield process, making this advanced equipment a preferable choice for agricultural procedures. Manufacturers focus on introducing new and advanced models of autonomous equipment as technology continues to advance.
Can one buy a sectional report rather than complete Autonomous Farm Equipment Market research?
Due to the interconnection of markets and relative influences, FactMR suggests worldwide reports, but we recognize that some clients may have specific or limited needs.
After confirming the viability of maintaining the report’s accuracy, FactMR customers do have the option to extrapolate some report portions, according to FactMR. You can talk to our business development representative and research specialist about your specific needs, and they will recommend the best choice for you in terms of both scope and cost.
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