Over the assessment period of 2021 to 2031, the global autonomous farm equipment market is expected to grow at a CAGR of close to 10%. Though tractors are the most common, the rise of partially autonomous harvesters, fully autonomous harvesters, autonomous UAVs, and other autonomous farm equipment is fueling market expansion.
The demand for fully autonomous farm equipment has increased as agricultural practises have become more mechanised and autonomous. Manufacturers have been compelled to introduce new products in the market due to the growing potential of partially autonomous farm equipment.
Key Market Segments Covered
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Mode of Operation
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Fully Autonomous Farm Equipment
- Partially Autonomous Farm Equipment
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By Equipment
- Autonomous Farm Tractors
- Autonomous Farm Harvesters
- Others
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Technology Provider
- Autonomous Farm Equipment Manufacturers (OEMs)
- 3rd-party Technology Providers
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Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Competitive Environment
With a large number of players operating in the landscape, the market is highly competitive in nature. Major players are stepping up their efforts to grow their businesses and market share. To stay ahead of the competition, key market players are introducing more high-quality products that incorporate smart farming technology.
Acquisitions that are well-targeted and improved product offerings with advanced technology are essential for staying competitive.
Trimble Inc. announced in May 2017 that it had reached an agreement to buy Müller-Elektronik, a privately held German company that specialises in implement control and precision farming solutions.
AGCO joined the NEVONEX partner network in January 2021 as part of AGCO’s ongoing strategy to make it easier for farmers to collaborate across their farms.
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