Autonomous Farm Equipment market worldwide is projected to grow by US$75.2 Billion, driven by a compounded growth of 13.3%
Partially Autonomous, one of the segments analyzed and sized in this study, displays the potential to grow at over 12.2%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.
Poised to reach over US$86.4 Billion by the year 2025, Partially Autonomous will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 13.1% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$3 Billion to the region's size and clout in the next 5 to 6 years. Over US$5.2 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Partially Autonomous will reach a market size of US$4.8 Billion by the close of the analysis period.
As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 16.7% over the next couple of years and add approximately US$14.4 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio.
Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include:
Claas KGaA mbH
CNH Industrial N.V.
Iseki & Co., Ltd.
YANMAR Co., Ltd.
Key Topics Covered:
1. MARKET OVERVIEW
Growing Population & Food Security Concerns, the Foundation for the Growth of Agricultural Equipment
Long Term Focus on Feeding the World as Population Touches a Projected 9.2 Billion by 2045 to Sustain the Growth of Mechanized Farm Equipment: Global Population (in 000s) by Region for the Years 2018, 2025, 2035 & 2045
Climate Change Adds Fuel to the Already Burning Issue of Food Security
The World of Change Characterized by Rising Surface Temperatures on Earth & its Negative Impact on Agriculture Increases the Reliance on Advanced Farming Systems & Technologies to Sustain Crop Production: Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
Declining Agricultural Land Productivity Sets the Stage for Transformation in Farming
Loss of Arable Land Exerts Immense Pressure on Yields Per Acre: Global Availability of Arable Land as a % of Total Land Area & Hectares Per Person for the Years 1990, 2000, 2018 and 2020
Growing Investments in Smart Farming & Increased Use of IoT in Agriculture Preps the Market for Robust Growth
Rise of Smart Agriculture Sets the Stage for Adoption of Automated Farming Technologies: Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2019 & 2024
Increased Deployment of IoT in Agriculture Strengthens the Business Case for Autonomous Farm Equipment: Global Agricultural IoT Market (In US$ Billion) for the Years 2019 & 2024
Innovation in Advanced Robotics Plays a Key Role in the Commercialization of Autonomous Farm Equipment
Continuous R&D in Robotics & the Ensuing Expansion of the Robotics Market Bodes Keeps the Innovation Wheel Well Oiled for Agricultural Robotic Solutions: Global Market for Robotics (In US$ Billion) for the Years 2019 & 2024
GPS Systems & Navigation Emerge to Be Indispensable in Autonomous Farm Equipment
Technology Penetration of High-Precision GPS Vital in Making Autonomous Vehicles a Reality: Global Positioning Systems (GPS) Market Worldwide (In US$ Billion) for the Years 2019, 2022 and 2025
Developments in Artificial Intelligence (AI), Machine Vision & Machine Learning Remain Critical to Commercialization & Growth
Opening Up of Opportunities for AI in Agriculture to Push Up the Innovation Index in the Market: Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2019, 2022 and 2025
Robust Government Budgets for Autonomous Agricultural Technology in Support of Food Security Goals to Benefit Market Growth
Backed by Government Funding & Support, Automation in Agriculture Gains Ground: Percentage Share (%) of Government Expenditure on Agriculture in Total Budgets by Region for the Years 2010, 2015, 2019 and 2021
Shrinking Labor for Agriculture Raises the Red Flag Spurring Agriculture on the Road to Automation: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
As a Bridge to Fully Autonomous Vehicles, Partially Autonomous Vehicles Enjoy Significant Market Dominance
Driverless Tractors, the Future of Farming on Large Farmlands
Farm Consolidation & Increase in Average Size of Farm Pave the Way for the Deployment of Driverless Tractors: Average Size of Farms (In Hectares) by Region/Country for the Year 2019
Agricultural Drones Emerge to Revolutionize Farming in the 21st Century
Expanding Applications of Commercial Drones Supported by Progressive Improvements in Functionality to Help Autonomous Farm Equipment Cross the Chasm Between Early Adoption to Mass Adoption: Global Commercial Drone Market (In US$ Billion) for the Years 2019, 2022 and 2024
Emergence of Flying Robots as the New Face of Robotics Coupled With Effervescent R&D in the Space, Paves the Way for Algorithms, Drones & Robots to Revolutionize Agriculture & Farming: Global % Share Spending on Robotics & Drones for the Year 2019E
Myriad Benefits Drive the Popularity of Automated Harvesters
Grain Loss During Harvesting Caused by Current Generation Machines Drives Demand for Smart Autonomous Harvesting Machines: Corn Head Kernel Loss While Harvesting With a Combine Harvester