ROCKVILLE Md., Feb. 22, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Autonomous Farm Equipment market is projected to grow at a compound annual rate (CAGR) of 19% between 2021 and 2031.
Precision farming improves yield by enabling farmers to use the correct amount of inputs such as fertilizers, water and seeds. This is supported by sales of autonomous farm equipment that incorporates real-time positioning and crop data to improve productivity. Increased farm mechanization in regions such as North America, rising labor costs due to shortage of skilled labor, increasing pressure on global food supply due to rising population, and government initiatives to implement modern agricultural techniques are some of the major factors driving the growth of the global precision agriculture industry. Rising demand for implementation of precision farming is driving the sales of autonomous farm equipment.
For Critical Insights on This Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=5674
The report also analyzes the impact of COVID-19 has had on the agriculture industry in general, and on autonomous farm equipment in particular. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change. The study also expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new entrants.
Which Recent Trends are Shaping Autonomous Farm Equipment Sales?
Demand growth for autonomous farm equipment is being aided by increasing emphasis on sustainable solutions, advanced technology, and operation-efficient farm equipment in many countries. Agriculture industry has witnessed several technological changes over the years, and manufacturers are still investing in research & development to enhance technologies.
Incorporation of artificial intelligence and IOT in agriculture is expected to shape the future of autonomous farm equipment. Usage of artificial intelligence has numerous benefits, including precision farming capabilities, advanced solutions for timely harvesting, optimal planting, soil management, and the use of predictive analysis to enhance quality crop production.
To learn more about Autonomous Farm Equipment Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=5674
Key Segments Covered in the Autonomous Farm Equipment Industry Survey
Mode of Operation
- Fully Autonomous Farm Equipment
- Partially Autonomous Farm Equipment
By Equipment
- Autonomous Farm Tractors
- Autonomous Farm Harvesters
- Others
Technology Provider
- Autonomous Farm Equipment Manufacturers (OEMs)
- 3rd-party Technology Providers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Targeted Acquisitions and Mergers by Key Players
- Key players such as Trimble Inc. and CNH Industrial N.V are hinging their growth strategies on enhancing connectivity with a wide market outreach through targeted acquisitions, so as to enjoy substantial market presence.
- In May 2017, Trimble Inc. announced an agreement to acquire privately-held Müller-Elektronik, a German company specializing in implement control and precision farming solutions.
- In March 2021, CNH Industrial N.V. completed its acquisition of a minority stake in Augmenta, an agricultural technology company focused on automating farming operations using computer vision and artificial intelligence ‘on the edge’, whereby data is processed in real time, directly by the system. This acquisition will see CNH Industrial become Augmenta’s strategic partner in crop sensing and machinery automation, and also foresees future joint research and development collaboration.
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5674
Key players in the Autonomous Farm Equipment Market
- Deere & Company
- Agco corp.
- CNH Industrial N.V
- Zimeno Inc. (Monarch tractors)
- Autonomous tractor corp.
- Autonomous solution Inc.
- Trimble Inc.
- Agjunction Inc.
- Ag Leader Technology Inc.
- Raven industries
- Bear Flag robotics
Key Takeaways from the Market Study
- Demand for autonomous farm equipment is increasing with mechanization of agriculture, availability of advanced technology, and sustainable agricultural practices.
- Sales of autonomous farm equipment such as full and partial autonomous tractors are increasing all over the world. Rising electrification trend as well as high demand for sustainability, remote sensing, and ease of operationare driving demand.
- Gradual increase in raw material costs and tariff prices are some of the challenges impacting market growth.
- North America and Europe hold a significant share in the global market. Inthese regions, high disposable income combined with rise in population growth, high investments in agriculture infrastructure, and increasing trend of farm automation have led rising demand for autonomous farm equipment.
- By mode of operation, partial autonomous farm equipment is expected to hold a majority of the market share by 2021.
- By equipment, tractors to be widely used because of their usage in a wide range of application at farms.
- The market in the U.S. and Canada is expected to progress at around 11% and 9% CAGR, respectively, while that in the U.K. and Germany at around 9% and 10% CAGR respectively, through 2031.
Explore Fact.MR's Coverage on the Automotive Market
Air Springs for Railways Trucks and Buses Market Trend: A new market study published by Fact.MR on the global air springs for railways, trucks, and buses market provides readers with an exhaustive analysis on key market dynamics, including the drivers, restraints, opportunities, and trends, along with comprehensive data on the structure of the market for the assessment period of 2021 to 2031.
Electric Trolling Motors Market Forecast: Fact.MR recently published a market study on the global market for electric trolling motors. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the electric trolling motors market structure.
Automotive Towbars Market Analysis: Fact.MR's incisive coverage on the automotive towbars market sheds light on the prominent expansion dynamics, including the drivers, opportunities and trends expected to shape future trajectory of the landscape. It delves into prominent growth prospects expected to prevail across key geographies and prominent segments.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
