The Autonomous Agriculture Equipment Market Size is valued at 11.15 billion in 2022 and is predicted to reach 60.30 billion by the year 2031 at a 20.81% CAGR during the forecast period for 2023-2031.
Autonomous agriculture equipment market is in a growing phase owing to different advanced technologies in the market. An increase in the adoption of automated machinery and equipment, sensors, and navigation systems, robots, autonomous vehicles, and other is expected to drive market growth. An autonomous tractor is the most important hardware component used in modern agriculture operations. The growth in the global autonomous agriculture equipment market is expected to be driven by an upsurge in the adoption of automated farming technologies due to labor depletion and high labor costs, a rise in optimization of crop yield and waste reduction, and a rise in dependence on advanced technologies to enhance productivity across the globe.
Due to the COVID-19 pandemic, research & development has decreased due to the lack of funding, halted manufacturing activities, and disruption of the raw material supply chain. In addition, the positive impact of COVID-19 has been seen in autonomous farming solution adoption, such as autonomous tractors, robots, drones, harvesters, planters, and sensors by farmers owing to the lack of workers, which is resulted in an increase in demand for autonomous agriculture equipment worldwide.
Recent Developments:
- In December 2022, CNH Industrial NV introduced new driverless tillage and driver-assist harvest solution under the brand names of CASE IH and New Holland. This strategy has enhanced the product portfolio of the company in the market.
Competitive Landscape:
Some of the autonomous agriculture equipment market players are:
- AGCO Corporation
- Naio Technologies
- CLAAS KGaA mbH
- DJI
- CNH Industrial N.V.
- Parrot Drone SAS
- AgEagle Aerial System Inc
- Deere & Company
- YANMAR HOLDING Co. Ltd.
- YTO GROUP CORPORATION
- Autonomous Tractor Corporation
- Mahindra & Mahindra Ltd.
- Kubota Corporation
- Delair
- Hexagon Agriculture
Market Segmentation:
The autonomous agriculture equipment market is segmented on the basis of type, product and application. Type segment includes autonomous, semi-autonomous. The market is segmented as tractors, unmanned aerial vehicles (UAVs), robots, and other products based on product. By Applications, the market is segmented into planting, harvesting, spraying and other applications.
Based On Products, The Robot Segment Is A Major Contributor To The Autonomous Agriculture Equipment Market
The robot segment is estimated to capture the highest market share during the forecast period. Agriculture robot is increasingly used in various farming operation such as weed control, planting, harvesting, and soil analysis. In addition, with the increasing adoption of intelligent or autonomous robots integrated with sensors and navigation systems, computer vision is expected to drive the growth of the autonomous agriculture equipment market worldwide. Moreover, an increase in penetration of integrated hardware and software technologies is expected to increase the production and efficiency of farms, which in turn is projected to push market growth in the future years.
The Tractor Segment Witnessed Growth At A Rapid Rate
The segment is inclusive of tractors, levelers, and agriculture implements. The demand for agriculture tractors is gaining traction owing to numerous factors such as the increasing demand for food propelling, the need to mechanize farm work, the availability of technologically advanced tractors, and increased urbanization causing a shortage in labor, forcing farmers to adopt machinery. This is anticipated to contribute to the maturation of the overall market.
In The Region, The North American Autonomous Agriculture Market Holds A Significant Revenue Share
North America generated the highest revenue in 2022. The Region is witnessing an upsurge in adopting autonomous agriculture equipment such as autonomous vehicles, drones, robots, irrigation systems, and other automation and control systems. In addition, the raised adoption of digital technologies for modern farm machinery in efficient crop production in the Region, along with the advancement in the popularity of indoor farming owing to urbanization. In addition, the North American Region is also anticipated to grow at a faster rate.
Autonomous Agriculture Equipment Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 11.15 Bn |
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Revenue forecast in 2031 |
USD 60.30 Bn |
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Growth rate CAGR |
CAGR of 20.81% from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, Volume (Unit) and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type, Product And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
AGCO Corporation, Naio Technologies, CLAAS HGaA mbH, DJI, CNH Industrial N.V., Parrot Drone SAS, AgEagle Aerial Systems Inc, Deere & Company, YANMAR HOLDING Co., Ltd., YTO GROUP CORPORATION, Autonomous Tractor Corporation, Mahindra & Mahindra Ltd., Corporation, and Hexagon Agriculture. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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