Artificial Intelligence in Autonomous Farm Equipment an Exciting Prospect: Fact.MR

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. 

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Key Takeaways

• 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

Competitive Landscape

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 1^st April 2021, capable of full or partial autonomous operation, providing customer with the improved results for their farming needs.  

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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?

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SOURCE Fact.MR