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Autonomous Tractors Market Size

Report ID: GMI6657
Published Date: Sep 2023
Report Format: PDF

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Autonomous Tractors Market Size

Autonomous Tractors Market size was valued at USD 1.5 billion in 2022 and is anticipated to register a CAGR of over 18% between 2023 and 2032. Autonomous tractors significantly boost farming efficiency and productivity. They operate continuously, regardless of daylight hours or human work shifts, ensuring that tasks are completed on time. This results in faster planting, harvesting, and field maintenance, which can be crucial during the critical stages of crop growth. As a result, farmers can manage larger land areas with fewer resources and manpower, ultimately leading to increased agricultural output & improved farm management.

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Autonomous tractors contribute to more sustainable farming practices. Their precision in applying resources, such as fertilizers, pesticides & irrigation, reduces waste and minimizes the environmental impact of agriculture. By optimizing resource use, autonomous tractors conserve water, reduce chemical runoff into ecosystems, and lower greenhouse gas emissions. This eco-friendly approach aligns with the global push for sustainable agriculture, making autonomous tractors a vital component in reducing the environmental footprint of farming operations while maintaining productivity.

Autonomous Tractors Market Report Attributes
Report Attribute	Details
Base Year:	2022
Autonomous Tractors Market Size in 2022:	USD 1.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	18%
2032 Value Projection:	USD 8.5 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	262
Segments covered:	Technology, Automation, Application
Growth Drivers:	Rising technological advancements in agricultural machinery Increasing subsidies & government initiatives for the adoption of autonomous agricultural machinery Adoption of data driven farming in North America & Europe Rising global food demand
Pitfalls & Challenges:	High initial costs

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High initial investments in autonomous tractors can act as a barrier to widespread adoption. The cost of purchasing and implementing autonomous technology including the necessary sensors, software, and infrastructure can be substantial for many farmers, particularly for small & medium-sized operations. This financial hurdle may deter some from entering the autonomou

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of autonomous tractors reached USD 1.5 billion in 2022 and is set to witness 18% CAGR between 2023 and 2032, owing to the increasing subsidies & government initiatives for the adoption of autonomous agricultural machinery.

The sensor-based segment held was valued at over USD 700 million in 2022, backed by the deployment of autonomy kits in autonomous tractors.

North America market share was over 25% in 2022 and will be valued at over USD 2 billion by 2032, on account of exclusive R&D initiatives, coupled with innovative technology.

Scania, Daimler Cars, TuSimple, Inc., Hino Carss, Waymo (Alphabet Inc.), Tesla, AB Volvo, PACCAR Inc., Navistar, Inc., Embark Carss, Inc., PlusAI, Inc., and Kodiak Robotics.