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Autonomous Farm Equipment Market Is Booming Worldwide by 2024 : AGCO Corporation, ADAMA Ltd., Clearpath Robotics, John Deere, Mahindra, YANMAR America, Kubota Tractor


Ocean View, DE -- (SBWIRE) -- 04/16/2020 -- Global autonomous farm equipment market outlook is driven by growing utilization of tractors, harvesters and UAVs to obtain higher productivity. Implementation of autonomous devices helps to reduce the redundant labor intensive farm operations. The consistently lowering count of labor availability will further support the industry growth. Rising inclinations toward precision farming will stimulate autonomous farm equipment industry trends over the forecast timeframe.

Farmers have been progressively adopting the advanced systems owing to shifting preferences for efficient farming practices. This has led to the increasing implementation of IoT in agriculture for real-time monitoring of the crops fostered by the deployment of GNSS system in the farm equipment.

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One of the most noteworthy trends of autonomous farm equipment industry 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 market have been attempting to actively tap every lucrative opportunity to come up with unique product ranges. For instance, a robotic engineer from Harper Adams University, England recently came up with an idea that it may be possible to produce crops without having to actually climb onto a tractor.

In this case, through high-end technology, a SimTech drill had been attached to the tractor, that undertook the seeding operations, while an automated Sampo Rosenlew 130 harvested the crop. In the years to come, it has been forecast that farmers may cease performing actual farming tasks, delegating them to automated devices, while they keep themselves free for other tasks. In the event that automated tractors such as the aforementioned prove successful in tests conducted on 100-hectare fields, the concept is likely to brew a revolution in autonomous farm equipment market.

Having documented a long-standing history of being an agro-based economy, India is touted to emerge as one of the pivotal regional autonomous farm equipment markets. Even as on 2017, more than 50% of the of the Indian populace is inherently dependent on agriculture and related activities for sustenance. However, more than 80% of Indian farmers own farmland lesser than two hectares, and have a rather small, bifurcated sense of ownership in India's huge agriculture sector. Amidst this massive fragmentation, it goes without saying that the country's farming activities stay put, owing to the lack of high yielding fertilizers and seeds and the inadequacy of modern production and processing methodologies. This in consequence, has led to India evolving as a rather lucrative ground for the development of autonomous farm equipment market.

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Tractors segment will lead the autonomous farm equipment market owing to high importance of the device and multirole benefits for carrying out several farm operations. Increasing implementation of self-steering and obstacle avoidance systems in this equipment will drive the business demand. Tractors segment accounted for over 60% of the autonomous farm equipment industry share in 2016 and is further estimated to keep growing at a significant pace through the forecast timeframe.

Growing innovations in UAV technology have been consistently enhancing the drone operations making them smoother and user friendly in terms of functionality. The autonomous farm equipment market from UAV segment is estimated to grow at a CAGR over 35% through 2024.

Table of Contents (ToC) of the report:

Chapter 4 Autonomous Farm Equipment Market, By Operation
4.1 Autonomous farm equipment industry share by operation, 2016 & 2024
4.2 Fully autonomous
4.3 Partially autonomous
Chapter 5 Autonomous Farm Equipment Market, By Product
5.1 Autonomous farm equipment industry share by product, 2016 & 2024
5.2 Tractors
5.3 Harvesters
5.4 UAV drone
Chapter 6 Autonomous Farm Equipment Market, By Technology
6.1 Autonomous farm equipment industry share by technology, 2016 & 2024
6.2 Software
6.3 Hardware

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