NEW YORK, March 25, 2021 /PRNewswire/ -- Fact.MR's report on global autonomous farm equipment market projects a steady growth of over 10% CAGR through 2021 to reach valuation of US$ 150 Bn by 2031. Penetration of Artificial Intelligence (AI) and advanced technology in farming sector to spike the demand of the market in coming years. Fact.MR's study projects fully and partially autonomous tractors to gain traction by 2031.
The latest edition of autonomous farm equipment market by Fact.MR finds that manufacturers are investing more in R&D activities to capitalize on upcoming opportunities, spurring the sales. Significant development in technology and incorporation of AI in the fully automated tractors and harvesters is attracting the suppliers to invest more in the similar technology to improve the efficiency
With the rising demand of autonomous tractors equipped with auto-steering and auto data collecting systems from the customers, manufacturers are riveted to invest more in R&D activities to incorporate AI. Hence fostering the sales.
"Heightened investments by manufacturers in research and development for advanced technology such as drones and fully automated tractors is stimulating growth of autonomous farm equipment," says a Fact.MR analyst.
For more Insights into the Market, Request a Sample of this Report
Growing autonomous tractors & harvesters sales to create demand for autonomous farm equipment
Japan to remain a highly remunerative market, owing to advanced agricultural farming innovations
China to remain one of the most lucrative market
Germany to vanguard the European autonomous farm equipment sales
Owing to the well-established agricultural farming sector, U.S to lead the North America market
United Kingdom to emerge as a potential autonomous farm equipment market through 2021
Some of the key players profiled by Fact.MR supplying autonomous farm equipment include Bobcat, AGCO Corporation, John Deere, Case IH, Yanmar, D Robotix, Agribotix, ADAMA Agricultural Solution Ltd., Mahindra, Rowbot, and Clearpath Robotics among others. According to the study, the market is highly competitive and quality product innovation is the key strategy adopted by prominent players.
For instance, in December 2020, Raven Industries announced the launch of its first commercially-available Driverless Ag Technology: AutoCart. This autonomous grain cart solution is available in the market since the 2021 harvest season. The new product launch showcased the company's position as the technology leader in the agriculture by bridging the gap from human-operated to fully-autonomous platform.
In similar fashion, Yanmar Agribusiness Co. Ltd., in February 2021, upgraded its autonomous tractor with multi-frequency antenna to improve its performance capabilities. This upgraded autonomous tractors series will be available in the market from 1stApril 2021, capable of full or partial autonomous operation, providing customer with the improved results for their farming needs.
Get Customization on this Report for Specific Research Solutions
More Valuable Insights on Autonomous farm equipment Market
Fact.MR, in its latest report, offers a detailed segmentation of the global autonomous farm equipment market. The study divulges essential insights on the autonomous farm equipment market on the basis of product (tractors, harvesters, UAVs, and others), and region (North America, Latin America, Europe, East Asia, South East Asia & Oceania, and MEA)
Key Questions Covered in the Report
Which factors will drive the demand of autonomous farm equipment market?
Which product holds the largest market share for autonomous farm equipment market?
What are the key strategies adopted by key players across the regions?
Which are the factors that will hamper autonomous farm equipment sales?
Which region is the largest consumer for autonomous farm equipment?
Request Methodology & Get a Glimpse of Our Expertise
Explore Fact.MR's Coverage on the Automotive Domain
Trailer Terminal Tractor Market: Fact.MR's latest coverage on global trailer terminal tractor market gives a detailed analysis on the prominent growth dynamics, including possible drivers, opportunities and new entrants, expected to prevail across the landscape for the upcoming decade. A detailed insight regarding key geographies and prominent manufacturers has been embedded in this report.
Farm Tires Market: The latest report by Fact.MR on global farm tires market offers an unbiased analysis on the key drivers, trends and opportunities expected to prevail across prominent segments and key geographies for the forthcoming assessment period. Additionally, details about prominent manufacturers and their revenue shares have also been incorporated.
Autonomous Emergency Braking System (AEBS) Market: Fact.MR, in its new offering, provides a detailed segmentation on the global autonomous emergency breaking system market, presenting historical demand data and forecast statistics. The study divulges compelling insights on the flame retardant polyester resins market on the basis of product type, technology type, vehicle type, and regional outlook.
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. We have offices in US and Dublin, whereas our global headquarter is in Dubai. 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. Reach out to us with your goals, and we'll be an able research partner.