Autonomous Farm Equipment Market size to exceed $95 Bn by 2027

Autonomous Farm Equipment Market size is set to reach USD 95 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Increasing penetration of GPS technology in the agriculture industry will increase the demand for autonomous farm equipment. GPS enables farmers to work in low-visibility field situations, improving the effectiveness of solutions offered by market players. Farmers can construct field maps with specific acreage for agricultural sections, route locations, and distances between sites of interest with the aid of GPS precision. Geofences are produced in customized patterns based on customer requirements, assisting in the guidance of autonomous farm equipment. Companies provide solutions that deliver an alert when a vehicle enters or exits the calibrated location. The market is gaining traction as GPS technology enables efficient coordination among autonomous farm equipment and real-time data collection.
 

The COVID-19 pandemic had a negative impact on the autonomous farm equipment market growth. Factory shutdowns and quarantine measures were implemented globally, restricting business activities. The emergence of COVID-19 reduced the market demand in the first half of 2020. The market gained traction in the second half of 2020 due to the introduction of comprehensive solutions with farm management capabilities.
 

Get more details on this report - Request Free Sample PDF
 

Growing demand for cost-effective partially autonomous equipment

The partial autonomous farm equipment market segment is poised to grow at a CAGR of over 6% through 2027 driven by an increase in large-scale farming. Manufacturers are designing equipment to reduce costs and increase the farmer’s productivity. Partially autonomous farm equipment has centralized control management systems designed to function in a multi-vehicle care mode that can be operated by an operator supervising several vehicles. High costs related to fully autonomous farm equipment along with operator training time are boosting the growth of partially autonomous devices.
 

Companies including John Deere and Yanmar Holdings Co., Ltd. are offering products that can be operated in both fully and partially autonomous modes, according to the farm management requirements of the customers.
 

Browse key industry insights spread across 260 pages with 300 market data tables and 36 figures & charts from the report, “Autonomous Farm Equipment Market Size By Operation (Fully Autonomous, Partially Autonomous), By Product (Tractors, Harvesters, UAVs, UGVs), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/autonomous-farm-equipment-market
 

Increasing implementation of autonomous tractors to provide higher efficiency and minimize human intervention

The demand for autonomous tractors is increasing on account of the integration of wireless technology that allows the machine to be monitored and controlled remotely through PCs & tablets. It enables the tractor to function independently, making it capable of autonomous seeding, planting & tillage, for broadacre, and row crop farming. The autonomous farm equipment market is witnessing the introduction of autonomous farm equipment with advanced features including telematic systems and GPS, which enables farm owners to observe the progress of the tractor through mapping displayed on their device.
 

Solutions offered by the industry players have integrated sensors for data collection and imagery, which are processed to give vital data points. This is utilized in real-time operational changes, long-term yield projections, current growth stages, and various crop health metrics, fueling the market growth.
 

Supportive initiatives to increase the use of farm equipment in Europe

Europe autonomous farm equipment market is forecast to register 6% gains to cross USD 200 million revenue by 2027. Europe has a strong agricultural machinery industry owing to active multinational companies and numerous SMEs. CEMA, a European Agricultural Machinery Industry Association, consists of approximately 7,000 manufacturers that produce around 450 distinct types of machines and had an annual turnover of approximately USD 44.79 billion in 2019. This helps in the development and implementation of autonomous farm equipment in the European market.
 

CEMA has revised "AgriTech 2030," a roadmap that outlines the development of Europe's innovative agricultural equipment and solutions industry. The government is focusing to augment European agriculture to the forefront of digital and precision agriculture. It also aims to develop industrial and technological competence in advanced farm solutions, increasing the autonomous farm equipment market demand.
 

Strategic partnerships and collaborations to enhance product offerings form key strategies amongst market players

Prominent players operating in the market include 3D Robotics, AGCO, Agribotix (AgEagle), Agritronics, AgXeed, American Robotics (ONDAS), Autonomous Solutions Inc., Bobcat Company (Doosan), Clearpath Robotics, CNH Industrial NV, Deutz-Fahr (SDF Group), DJI, Ecorobotix, Energid, Farmdroid ApS, John Deere, Kinze Manufacturing, Kubota, Mahindra and Mahindra, Naio Technologies, Precision HAWK, Robert Bosch GmbH, Rowbot, and Yanmar Holdings Co., Ltd.
 

Autonomous farm equipment market players are focusing on undertaking partnerships to introduce advanced technology-based products. For instance, in May 2021, AgXeed formed a joint venture with CLASS KGaA mbH by acquiring a minority stake in the company's international investment round. The goal is to provide cutting-edge technology for autonomy & robotics, data transport, interfaces, and drivetrain solutions. AgXeed will release an autonomous field robot with load-sensing hydraulics, changeable track width, and a linkage with a lift capability of up to eight tonnes.