DUBLIN--(BUSINESS WIRE)--The "Europe ISOBUS Component Market - A Regional Analysis: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The Europe ISOBUS component market is expected to reach $209.29 million by 2026, with a CAGR of 7.36% during the forecast period 2021-2026.
High growth in the market is expected to be driven by the need to resolve the inter-implement incompatibility issues existing between equipment manufactured by different companies. ISOBUS also allows for the inclusion of a virtual terminal (VT), which further allows the operator to control multiple implements simultaneously, manufactured by different companies.
Europe ISOBUS Component Market
The first ISOBUS compliant equipment (tractor) was launched in the early 1990s, and since then, there have been significant improvements in the ISOBUS and other agricultural technologies. This standard is still in its growth phase and has a long runway ahead of it. The inter-implement connectivity achieved with ISOBUS equipment has been crucial in deploying digital solutions that will increase field productivity and efficiency.
Market Segmentation
Europe ISOBUS Component Market by Product
The component electronic control unit (ECU) witnessed high demand as compared to other components as all key applications of ISOBUS in the agricultural industry (such as harvesters and tractors) use ISOBUS-enabled ECUs for their functioning.
Europe ISOBUS Component Market by Application
The Europe ISOBUS component market by application category is dominated by tractor segment. This dominance is due to the huge market of tractors in the France and Germany.
Europe ISOBUS Component Market by Country
France generated the highest revenue of $44.90 million in 2020, attributed to the presence of leading ISOBUS-enabled agricultural implement manufacturers along with continuous government initiatives in the country to promote the deployment of ISOBUS equipment in the field. The country is expected to witness moderate growth of CAGR 7.98% during the forecast period.
Key Questions Answered in the Report
- What is the estimated Europe ISOBUS component market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
- What are the key trends, market drivers, and opportunities in the market pertaining to the Europe ISOBUS component market?
- What are the major restraints inhibiting the growth of the Europe ISOBUS component market?
- What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players in the Europe ISOBUS component market on the basis of analysis of their recent developments, product offerings, and regional presence?
- How is the competitive benchmarking of the key ISOBUS component companies in the agriculture market based on the analysis of their market coverage and market potential?
Business Dynamics
Business Drivers
- Need for Standardized Communication between Agricultural Equipment
- Increase in Synergistic Partnerships between Agricultural Equipment Manufacturers
- Need for Increased Production to Cater to the Growing Population
Business Challenges
- Incompatibility Issues between Different Devices
- High Initial Investment for Complete ISOBUS System
Business Strategies
- Product Development
- Market Development
Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Collaborations, and Joint Ventures
- Others
Patent Analysis
- Patent Analysis (by Status)
- Patent Analysis (by Company)
For more information about this report visit https://www.researchandmarkets.com/r/vcam8n
