Electronics

Global Autonomous Farm Equipment Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Uday Kiran

Global Autonomous Farm Equipment Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

The autonomous farm equipment market size is expected to see strong growth in the next few years. It will grow to $102.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to improved connectivity, data-driven farming, cost reduction, climate change mitigation, global food security, data-driven agriculture. Major trends in the forecast period include technological advancements, emerging startups and innovation, farm-as-a-service models, customization and adaptability, collaborative and autonomous swarming.

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Segmentation & Regional Insights

The autonomous farm equipment market covered in this report is segmented –

1) By Product Type: Tractors, Harvesters, Unmanned Aerial Vehicles (UAVs), Other Product Types

2) By Technology: Partially Autonomous, Fully Autonomous

3) By Application: Agriculture, Horticulture, Animal husbandry, Forestry, Other Applications

The Asia-Pacific was the largest region in the autonomous farm equipment market in 2023. North America was the second largest region in the autonomous farm equipment market. The regions covered in the autonomous farm equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing use of autonomous tractors is a key factor driving the growth of the autonomous farm equipment market. Autonomous tractors use several sophisticated systems and sensors which would possess an effective self-driving vehicle, and by incorporating these advanced systems into run-of-the-mill farming, farmers will experience positive technological effects in the workplace. Alternatively, autonomous tractors can be set up to function as mobile hotspots to collect data from sensors in the field. Also, about 34.5% of the global demand for autonomous farm machinery will retain the 31–100 HP output Asia-Pacific of farm tractors in 2026. Therefore, the demand for autonomous tractors is expected to drive the growth of the autonomous farm equipment market.

Key Industry Players

Major companies operating in the autonomous farm equipment market include CLAAS KGaA mbH, DEUTZ-FAHR S.p.A., AGCO Corporation, Deere & Company, CNH Industrial N.V., Agrobot S.L., Autonomous Tractor Corporation, Yanmar Co. Ltd., Iseki & Co. Ltd., Kubota Corporation, Bobcat Company, Agribotix LLC, Agricultural Solutions Ltd., Harvest Automation Inc., Mahindra & Mahindra Limited, Energid Technologies Corporation, Autonomous Solutions Inc., Agritronics Corporation, Kinze Manufacturing Inc., SDF S.p.A., Rowbot Systems LLC, Robotic Harvesting LLC, Jaybridge Robotics LLC, Agrobotics AutoProbe Inc., Naio Technologies, CNH Industrial America LLC, Ted Corporation, Dino Autonomous Robot Inc., Swift Navigation Inc.

The autonomous farm equipment market report table of contents includes: