Autonomous Farm Equipment Market to Create US$ 170 Bn Opportunity by 2026
According to the report, the global autonomous farm equipment market is likely to grow at over 13% CAGR and reach a valuation of nearly US$ 170 Bn by 2026.
Albany, NY -- (SBWire) -- 06/25/2018 --A new detailed study titled "Global Market Study on Autonomous Farm Equipment: APEJ Will Continue to Lead the Market during 2017-2026" has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global autonomous farm equipment market is likely to grow at over 13% CAGR and reach a valuation of nearly US$ 170 Bn by 2026.
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The research study offers holistic insights and analysis on the autonomous farm equipment market. A comprehensive and detailed analysis on the drivers, restraints, trends, and opportunities impacting market growth have been included in the report for the perusal of the readers.
In a bid to offer detailed insights and analysis on the autonomous farm equipment market, the business intelligence study offers segment-wise forecast. The report segments the global autonomous farm equipment market into output power, mode of operation, machine type and region. The output segment is further divided into up to 30 HP, 31–100 HP, and above 101 HP. The mode of operation segment is bifurcated into partially autonomous and fully autonomous. The machine type segment is categorized into harvesters, seed drill, tractors, tiller and others.
Geographically, the market is divided into key regions globally which are Japan, North America, Europe, Latin America, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA). According to the research study, US, China, and India are at the forefront of demand for autonomous farm equipment globally. The steady growth of the market in these regions has meant that North America and APEJ are among the leading markets for autonomous farm equipment market globally.
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Many countries in APEJ, especially China and India are agriculture-based, and despite the progress in IT services and manufacturing, many states and provinces in these countries remain dependent on agriculture as a means of livelihood. Rising awareness on the benefits of using autonomous farm equipment has created a steady stream of opportunities for manufacturers, however, owing to the price-sensitive nature of end-users, uptake in limited.
The report profiles some of the leading players operating in the market. Some of these players are Case IH, AGCO Corporation, New Holland, John Deere, Class KGaA GmbH, Yanmar , Kubota, Iseki & Co., Deutz Fahr, and Bobcat (a Doosan company). According to the research, these companies are focusing on improving their presence in emerging markets to tap into the upcoming opportunities in the region.
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