Sarasota, FL -- (SBWIRE) -- 09/12/2018 -- Global Autonomous Tractors Market: Overview

In this era of advancement of the autonomous sector and other technological development of the automotive sector has led to the emergence of many opportunities relevant to crop management precision. Autonomous tractor technology is also estimated to provide opportunities to handle and improve past developments and improvements in cropping systems and agronomy. It is a without the use of driver farming machine that uses advanced technological components such as sensors, machine vision system, and others to perform various agricultural tasks.

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Global Autonomous Tractors Market: Growth Factors

The global autonomous tractors market demand is anticipated to be significantly raised due to the increase in initiatives by governments for the adoption of new technologies, improved efficiency, and productivity of crop yield. Moreover, the increasing trend of mechanization in agriculture industry and age of farmers in developed countries are further factors driven the market growth. Furthermore, the decline in availability of labor along with an increase in labor wages is also major factors that will drive further demand for autonomous tractor in the forecast period. However, high initial capital investment and lack of technical knowledge among farmers are major factors hindering the growth of the market. Technological advancement has led to the amalgamation of smartphones with agronomic relevant hardware and software; this has led to in creating many potential opportunities for the companies involved. Lack of data management practices in agriculture and smaller land holdings in developing economies are challenges faced by market vendors.

Global Autonomous Tractors Market: Segmentation

The global autonomous tractor market is segmented on the basis of power output, crop type, component, farm application, and region. In terms of power output, the market is bifurcated into up to 30 HP, 31-100 HP, and 101 HP & above. Based on crop type, the market is segregated into cereals & grains, oilseeds & pulses, and fruits & vegetables. In terms of component, the market is bifurcated into radar, LiDAR, GPS, camera or vision systems, ultrasonic sensors, and hand-held devices. Furthermore, based on farm application, the market is segmented into tillage (primary & secondary tillage), seed sowing, harvesting, and other farm applications.

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Global Autonomous Tractors Market: Regional Analysis

North America is expected to account for the largest share of the autonomous tractors market due to the high rate of adoption of advanced technology. Moreover, lack of trained farm labor and higher disposable incomes of farmers are the major reasons for the future expansion of the North American autonomous tractors market. In addition, the presence of large-scale tractor manufacturers in this region further drives the market growth in North America. Asia-Pacific autonomous tractors markets are anticipated to exhibit significant growth, due to the increasing demand for more food owing to increase in population. Europe is likely to witness the fastest growing region during the forecast period. Huge proficient innovations, joined through continuous development in agricultural technologies may boost the demand of the market in the region.

Global Autonomous Tractors Market: Competitive Players

Some of the important key players in the global autonomous tractors market are CNH, AGCO, Mahindra & Mahindra, Deere & Company, Trimble Inc., Kubota Corporation, Raven Industries, Yanmar Co., Ltd, and Autonomous Tractor Corporation, among others.