July 13,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Autonomous Farm Equipment Market.
Autonomous Farm Equipment Market is likely to witness a CAGR of 10.6% during the forecast period. Increase in shortage of labor coupled with shifting trends towards usage of autonomous equipment and high implementation of drones in agricultural applications are some of the major factors fueling the growth of the market during the forecast period.
Autonomous farm equipment is a preferable choice for farming procedures as it saves cost and time involved in the yielding process, as compared to standard farm equipment.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the operation type, the market is segmented as fully autonomous and partially autonomous. The fully autonomous segment is estimated to register a higher growth rate in the market on account of increasing implementation of precision farming systems, fueling the segment’s growth during the forecast period.
Based on the product type, the market is segmented as tractors, harvesters, and UAV drone. Tractors are estimated to account for the largest share of the market during the forecast period on account of their wide utilization in the agricultural sector. Further, the constant ability of these vehicles with higher ROI factors is expected to have a positive influence on the market. Also, harvesters are estimated to witness significant growth in the market owing to continuous development in robotics coupled with the product availability at competitive price, boosting the overall industry growth during the forecast period.
Based on the technology type, the market is segmented as software and hardware. Hardware is estimated to be the dominating segment of the market owing to the growing advancements and easy operation of the device, fueling the growth of the segment during the forecast period.
In terms of regions, North America is estimated to be the dominating region in the market during the forecast period owing to the presence of various major industry players and growing utilization of tractors and combined harvesters in the region. On the other hand, Europe and Asia-Pacific are also estimated to witness significant growth in the market on account of events leading to increased productivity across both of the regions during the forecast period.
Key Players:
- 3D Robotics
- ADAMA Ltd.
- AGCO Corporation
- Agribotix
- Agri-Tronix Corporation
- Autonomous Solutions, Inc.
- Autonomous Tractor Corporation
- Case IH
- Clearpath Robotics, Inc.
- Deutz-Fahr
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Autonomous Farm Equipment Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors