Dublin, June 29, 2021 (GLOBE NEWSWIRE) -- The "Global ISOBUS Component Market: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The global ISOBUS component market is expected to reach $976.71 million by 2026, with a CAGR of 8.91% during the forecast period 2021- 2026.
High growth in the market is expected to be driven by the need to resolve the inter-implement incompatibility issues existing between equipment manufactured by different companies. ISOBUS also allows for the inclusion of a virtual terminal (VT), which further allows the operator to control multiple implements simultaneously, manufactured by different companies.
How This Report Can Add Value
Product/Innovation Strategy
Market by Product, Analysis, and Forecast - The segment gives a brief overview of the product portfolio of different companies and the market presence of different products existing in the market. For instance, in June 2020, Farmers Edge launched FarmCommand, a universal terminal that would assist growers, equipment dealers, and retail service providers to lower costs, reduce risks, and gain efficiencies in farming operations. With the FarmCommand universal terminal, the tractor cabin would remain free from clutter, and the terminal could be seamlessly connected to all ISOBUS enabled monitors.
Market by Application, Analysis, and Forecast - The segment gives a brief overview of the market status of different applications of the product and key players offering products in those applications. Tractors are one of the major application areas for the ISOBUS standard. This is because the tractor is the primary equipment in the field, and other implements such as sprayers and harvesters are connected with a tractor and then used in the field. Companies such as CNH Industrial offer several products in this category.
ISOBUS Component Market Lifecycle
ISOBUS, or ISO 11783, is a software standard defined by the International Organization of Standardization. The standard is the basis of the embedded software designed to achieve interoperability of data transfer and communication between the different agricultural implements such as sensors, actuators, control units, cloud servers, and display units, whether mounted or part of the tractor.
The first ISOBUS compliant equipment (tractor) was launched in the early 1990s, and since then, there have been significant improvements in the ISOBUS and other agricultural technologies. This standard is still in its growth phase and has a long runway ahead of it. The inter-implement connectivity achieved with ISOBUS equipment has been crucial in deploying digital solutions that will increase field productivity and efficiency.
Impact of COVID-19 on ISOBUS Component Market
The supply chain of the majority of the industries across the globe got impacted due to COVID-19, including the agriculture equipment industry. A significant impact was witnessed on the global ISOBUS component market as manufacturing industries were closed down as a part of government measures to prevent the spread of the virus.
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Market Definition
1.1.2 Supply Chain Analysis
1.1.3 Government Initiatives Landscape
1.1.4 Industry Attractiveness
1.1.5 Consortiums and Associations
1.1.6 Patent Analysis
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Need for Standardized Communication between Agricultural Equipment
1.2.1.2 Increase in Synergistic Partnerships between Agricultural Equipment Manufacturers
1.2.1.3 Need for Increased Production to Cater to the Growing Population
1.2.2 Business Challenges
1.2.2.1 Incompatibility Issues between Different Devices
1.2.2.2 High Initial Investment for Complete ISOBUS System
1.2.3 Business Strategies
1.2.3.1 Product Development
1.2.3.2 Market Development
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Collaborations, and Joint Ventures
1.2.4.3 Others
1.2.5 Business Opportunities
1.2.5.1 Increased Emphasis on Smart Farming
1.2.5.2 Increased Emphasis on Sustainable Development
1.2.6 Impact of COVID-19 on the Global ISOBUS Component Market
2 Application
2.1 Global ISOBUS Component Market (by Application)
2.1.1 Tractor
2.1.2 Planter and Seeder
2.1.3 Harvester
2.1.4 Others
2.2 Demand Analysis of the Global ISOBUS Component Market (by Application)
3 Products
3.1 Global ISOBUS Component Market (by Product)
3.1.1 Global ISOBUS Component Market (by Hardware)
3.1.1.1 Electronic Control Unit (ECU)
3.1.1.2 Universal Terminal
3.1.1.3 Cables and Connectors
3.1.1.4 Others
3.1.2 Global ISOBUS Component Market (by Software)
3.1.2.1 Virtual Terminal
3.1.2.2 Task Controller
3.1.2.3 Mobile Application
3.1.2.4 Others
3.2 Demand Analysis of the Global ISOBUS Component Market (by Product)
4 Region
4.1 Market
4.1.1 Key Manufacturers
4.1.2 Business Drivers
4.1.3 Business Challenges
4.2 Application
4.2.1 ISOBUS Component Market (by Application)
4.3 Product
4.3.1 ISOBUS Component Market (by Product)
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Company Profiles
- AMAZONEN-WERKE H. DREYER SE & Co. KG
- Anedo GmbH
- CLAAS KGaA mbH
- CNH Industrial N.V.
- Deere & Company
- DEUTZ-FAHR
- Fendt
- Hexagon Agriculture
- Krone NA, Inc.
- Kuhn Group
- Kvaser
- Kverneland Group
- LEMKEN GmbH & Co. KG
- Massey Ferguson
- POTTINGER Landtechnik GmbH
For more information about this report visit https://www.researchandmarkets.com/r/awcsc5
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