Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Agriculture Autonomous Retrofit Market: A Global and Regional Analysis, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global agriculture autonomous retrofit market was valued at $1,931.1 million in 2023 and is expected to reach $10,760.3 million by 2033
The agriculture autonomous retrofit market for driverless tractor kit, in-cab display, spot spraying kit, and planting automation kit exhibits a notable concentration, with key players such as AGCO Corporation, Ag Leader Technology, CNH Industrial N.V., and Deere & Company holding significant market shares. This concentration is indicative of the dominance of a few major manufacturers in the industry. Recent strategic initiatives focus on technological advancements, reflecting the concerted efforts of major players to strengthen their positions in this concentrated market.
Companies involved in manufacturing driverless tractor kits, spot spraying systems, and other autonomous retrofit solutions can strategically position themselves for this growth by investing in research and development, fortifying production infrastructure, and forging strategic partnerships. This strategic positioning aligns with market trends as the agriculture industry increasingly embraces sustainable and efficient farming practices enabled by autonomous technologies. As the demand for agriculture autonomous retrofit solutions continues to soar, companies adopting proactive strategies are likely to shape the future of the global agriculture autonomous retrofit market and cater to the evolving needs of farmers worldwide.
North America has been playing an instrumental role in shaping the global agricultural autonomous retrofit market. The significant traction gained by autonomous retrofit solutions in the region is a result of increasing demands for precision agriculture and the growing recognition of autonomous technology as a key enabler of efficiency and productivity. Government support has also played a crucial role in accelerating the growth of the agricultural autonomous retrofit market in North America.
Tractor Autonomy to Dominate the Global Agriculture Autonomous Retrofit Market (by Application)
The tractor autonomy segment is expected to maintain its dominance in the agriculture autonomous retrofit market during 2023-2033. This is driven by increasing demand for efficient and cost-effective farming solutions, especially in regions facing labor shortages and relying on aging equipment. Retrofitting existing tractors with autonomous capabilities offers economic and operational advantages, making it the preferred choice for many farmers.
Driverless Tractor Kit to Dominate the Global Agriculture Autonomous Retrofit Market (by Product)
The global agriculture autonomous retrofit market is currently undergoing a significant transformation, with the driverless tractor kit segment expected to hold a dominating share throughout the forecast period. This shift is notably propelled by both developed and developing countries, particularly due to strong government support advocating for reduced taxes, incentives, and infrastructure development. Companies are also coming up with new products and taking strategic initiatives to grasp the market opportunity.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications of agriculture autonomous retrofit products. The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the use of retrofit kits. Therefore, the autonomous retrofit business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The global agriculture autonomous retrofit market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships and collaborations.
Competitive Strategy: The key players in the global agriculture autonomous retrofit market analyzed and profiled in the study include manufacturers of agriculture autonomous retrofit kits. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Some of the prominent names in this market are:
- AGCO Corporation
- Deere & Company
- CNH Industrial N.V.
- Ag Leader Technology
- TOPCON CORPORATION
- Hexagon AB
- WEED-IT
- Fieldin
- Sabanto Inc.
- GOtrack
- THORNFIELD
- GPX Solutions
- Braun Maschinenbau GmbH
- ONE SMART SPRAY
- ARAG (Subsidiary of Nordson Corporation)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $1.93 Billion |
| Forecasted Market Value (USD) by 2033 | $10.76 Billion |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Scope and Definition
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Accelerated Acquisition Deals Transforming Agriculture
1.1.2 Bridging the Technology Gap to Empower a New Generation of Farming Innovators
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Company)
1.3.2 Patent Filing Trend (by Country)
1.4 Regulatory Landscape
1.5 Market Dynamics Overview
1.5.1 Market Drivers
1.5.1.1 Alleviating Farming Labor Shortages with Autonomous Tractor Technology
1.5.1.2 Enhancing Crop Yield per Hectare
1.5.2 Market Restraints
1.5.2.1 Navigating Data Ownership and Privacy Challenges
1.5.2.2 Insufficient Legal Framework
1.5.3 Market Opportunities
1.5.3.1 Growing Demand for Carbon Footprint Cutbacks
1.5.3.2 Unlocking Sustainable Solutions for Global Food Security
2 Application
2.1 Application Segmentation
2.2 Application Summary
2.3 Global Agriculture Autonomous Retrofit Market (by Application)
2.3.1 Tractor Autonomy
2.3.2 Implement Autonomy
3 Products
3.1 Product Segmentation
3.2 Product Summary
3.3 Global Agriculture Autonomous Retrofit Market (by Product)
3.3.1 Driverless Tractor Kit
3.3.2 Spot Spraying Kit
3.3.3 Planting Automation Kit
3.3.4 In-Cab Display
4 Regions
4.1 Regional Summary
4.2 Drivers and Restraints
4.3 North America
4.3.1 Regional Overview
4.3.2 Driving Factors for Market Growth
4.3.3 Factors Challenging the Market
4.3.4 Application
4.3.5 Product
4.3.6 U.S.
4.3.7 U.S. Agriculture Autonomous Retrofit Market (by Application)
4.3.8 U.S. Agriculture Autonomous Retrofit Market (by Product)
4.3.9 Canada
4.3.10 Canada Agriculture Autonomous Retrofit Market (by Application)
4.3.11 Canada Agriculture Autonomous Retrofit Market (by Product)
4.3.12 Mexico
4.3.13 Mexico Agriculture Autonomous Retrofit Market (by Application)
4.3.14 Mexico Agriculture Autonomous Retrofit Market (by Product)
4.4 Europe
4.5 Asia-Pacific
4.6 Rest-of-the-World
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Next Frontiers
5.2 Geographic Assessment
5.2.1 Profile
5.2.1.1 Overview
5.2.1.2 Top Products/Product Portfolio
5.2.1.3 Top Competitors
5.2.1.4 Target Customers
5.2.1.5 Key Personnel
5.2.1.6 Analyst View
5.2.1.7 Market Share
For more information about this report visit https://www.researchandmarkets.com/r/wd9bpd
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