Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Autonomous Tractors Market by Power Output (Up to 30 HP, 31-100 HP, 101 HP and Above), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Farm Application, Component and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Discover the transformative potential of Autonomous Tractors, a market set to grow from an estimated USD 2.4 Billion in 2023 to a projected USD 7.1 Billion by 2028, at an impressive CAGR of 24.0% during the forecast period.
Critical Market Segments
Camera Vision: Leading the Way - The Camera Vision sub-segment is anticipated to capture the largest share during the forecast period, powering real-time visual information and precision in autonomous tractor operations.
Revolutionizing Agriculture with Robotics
Autonomous Tractors are poised to revolutionize outdoor farming by addressing critical challenges faced by farmers, enhancing productivity, sustainability, and efficiency. These advanced machines, empowered by cutting-edge technologies, perform tasks with unmatched precision through sensors, GPS technology, and artificial intelligence, optimizing resource usage.
Key Growth Factors
Camera Vision Systems: Driving Advancements - Camera systems in autonomous tractors are experiencing rapid growth due to their robust perception capabilities. They provide essential real-time visual information, enhancing the tractors' ability to navigate and perform precise tasks with enhanced accuracy.
Unlocking Opportunities
Cereal Grain Segment: Fastest Growing - Autonomous tractors promise to elevate the cereals and grains segment by introducing unparalleled precision, operational efficiency, and data-driven practices, optimizing planting and resource utilization for optimal yields.
European Landscape
Europe: Spearheading Growth - The European autonomous tractor market is experiencing robust growth, driven by factors such as persistent labor shortages and a strong focus on sustainability and environmental stewardship. Major players like John Deere, Earth Rover, and CNH Industrial are actively contributing to the region's advancement in autonomous farming solutions.
Uncover a wealth of insights and strategic perspectives in the full report to guide your business decisions and capitalize on emerging opportunities in the autonomous tractor market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 228 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.4 Billion |
| Forecasted Market Value (USD) by 2028 | $7.1 Billion |
| Compound Annual Growth Rate | 24.0% |
| Regions Covered | Global |
Premium Insights
- Growing Trend of Mechanization in Agriculture Industry to Drive Demand for Autonomous Tractors During Forecast Period
- Germany to Account for Largest Market Share
- North America to Dominate Component Market During Forecast Period
- Fruits & Vegetables Crop Type to Dominate Market in 2023
- US and China to Dominate Market
Market Overview
Drivers
- Rising Demand for Enhanced Efficiency and Productivity Through Improved Crop Yields
- Advent of Mechanization in Agricultural Sector
- Need of IoT and Navigation Technologies to Drive Down Automation
Restraints
- Lack of Technical Knowledge Among Farmers
- Opportunities
- Rising Use of Smartphones as Agricultural Tool
- Untapped Market Potential and Scope for Automation in Agriculture
Challenges
- Lack of Data Management in Agriculture
- High Cost and Complexity of Fully Autonomous Tractors
Company Profiles
- Agco Corporation
- Cnh Industrial N.V.
- Mahindra & Mahindra Ltd.
- Deere & Company
- Kubota Corporation
- Yanmar Holdings Co. Ltd.
- Autonomous Tractor Corporation
- Sdf Group
- Iseki & Co. Ltd.
- Tym Corporation
- J C Bamford Excavators Ltd.
- Tractors and Farm Equipment Limited
- Sonalika Group
- Daedong Corporation
- Claas
- Argo Tractors Spa.
- Technology Providers
- Bear Flag Robotics
- Trimble Inc.
- Agjunction Inc.
- Raven Industries, Inc.
- Agxeed B.V.
- AG Leader Technology
- Naio Technologies
- Topcon Agriculture
- Ecorobotix Sa
For more information about this report visit https://www.researchandmarkets.com/r/tyx73u
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