Summary:
Autonomous Farm Equipment Market size is projected to expand at over xx % CAGR from 2021 to 2027. Growing demand for autonomous farming equipment, specifically in regions with a low farmer population is likely to augment the market growth.
Several companies in the sector are focusing on R&D activities to expand their product portfolios and improve the customer experience. For instance, in December 2021, Trimble announced the launch of R750 GNSS modular receivers. It offers a connected base station for geospatial, civil construction, and agricultural applications. The technology can be utilized to broadcast real-time kinematic corrections for a broad set of activities including seismic surveying, civil construction, monitoring, and precision agriculture. It allows integration with global navigation satellite system rovers to tackle geo-positioning issues faced in some locations.
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The coronavirus pandemic has negatively impacted the autonomous farm equipment market growth. The outbreak has encouraged government administrations to impose strict lockdown measures & travel restrictions. It has hindered the logistics & manufacturing capabilities of several companies, thus impacting the overall sales. In addition, the introduction of travel regulations, further, developed labor shortage challenges for farm owners and created barriers in terms of hiring a suitable workforce for conducting applications across the field. This factor has encouraged growers to implement advanced technologies to continue work and increase productivity.
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
The lack of labor in the farming domain will propel the fully autonomous solution segment in Japan
The Japan autonomous farm equipment industry is expected to witness around xx% growth rate through 2027 due to rising workforce issues in the sector. Players in the domain are constantly emphasizing on improving their solution offerings to establish a differentiated market positioning and cater to a large set of customers. These factors have encouraged companies to introduce new features in the product line for tackling labor shortage issues.
For instance, in February 2021, Yanmar Agribusiness upgraded its autonomous tractor range with full autonomous work. The company has included multi-frequency antennas and advanced GNSS satellite features, thus improving positioning, RTK coverage & precision of the equipment. It will also support in addressing the aging farming population problems of the sector.
R&D activities by industry participants in Germany
The autonomous farm equipment market is poised to register gains of above 5% in Germany till 2027 owing to increasing R&D activities by the manufacturers. To build an integrative & holistic solution portfolio, companies are emphasizing on forming strategic partnerships or investments in complementary businesses. Enhancements in the equipment will offer better features such as autonomous navigation, 5G support, LTE & remote control to the end-users, thus increasing the utilization of drones in the Germany and other operated countries.
The North America autonomous farm equipment market demand is estimated to observe a CAGR of nearly xx% through 2027 fueled by rising investments in R&D activities. The increasing income of farmers in the regional agriculture sector will offer significant growth opportunities. According to the United States Department of Agriculture (USDA), gross cash farm income is forecast at USD 488 billion in 2021 compared to USD 348 billion in 2001.
A growing population demand for food safety is boosting the usage of innovative agricultural technologies to efficiently increase farm produce. The widespread use of tractors and combines harvesters with autosteering capabilities in the region will propel industrial expansion.
Developing market presence forms a key strategy amongst several manufacturers
Industry participants are focusing on strengthening their presence through expansion and offering innovative solutions to cater to the growing demand for autonomous farm equipment. For instance, in August 2021, DJI announced the availability of its T10 & T30 agriculture drones across 100 countries. Through this move, the company is developing its global brand presence in the agriculture industry.
Key players operating in the autonomous farm equipment 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.
