DUBLIN--(BUSINESS WIRE)--The "Global Autonomous Agriculture Equipment Market - A Global and Regional Analysis: Focus on Solution, Application, Adoption Framework and Country-Wise Analysis, Startup Analysis, Patent Analysis, and Value Chain - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global autonomous agriculture equipment market was valued at $10.71 billion in 2022 and is expected to reach $28.54 billion in 2027, following a CAGR of 21.65% during 2022-2027.
The growth in the global autonomous agriculture equipment market is expected to be driven by an increase in the adoption of automated farming technologies due to labor shortages 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.
The 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 others is expected to drive market growth from 2022 to 2027. An autonomous tractor is the most important hardware component used in modern agriculture operations.
Industry Impacts
Autonomous agriculture or farming is the use of autonomous or self-driving machinery and equipment in agriculture. This involves the use of advanced technologies such as artificial intelligence, sensors, GPS, and other systems to enable farm equipment to operate without direct human control or guidance.
Autonomous farming equipment can include tractors, combines, harvesters, and other machinery that are used in various farming operations. These machines can be programmed to perform specific tasks, such as planting, harvesting, tilling, and spraying, without the need for human intervention.
The use of autonomous agriculture equipment has a positive impact on agriculture operations and livestock farming. These technologies offer benefits such as increased efficiency and productivity, water saving, reduced costs, data collection and analysis, increased safety, better sustainability, and others. In addition, autonomous agriculture equipment helps farmers to better understand important factors such as water, topography, orientation, vegetation, and soil analysis.
Impact of COVID-19
Due to the COVID-19 pandemic, research & development has slowed down owing to the lack of funding, halted manufacturing activities, and raw material supply chain disruptions.
In addition, the positive impact of COVID-19 has been seen in autonomous farming solutions 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.
Market Segmentation
The global autonomous agriculture equipment market in the application segment is expected to be dominated by harvesting. The desire to reduce costs and increase profitability and the increasing costs of labor and other inputs are the key factors expected to drive the growth of this segment globally.
This is followed by the spraying segment, which accounts for the second-largest share in the autonomous agriculture equipment market due to the need for more efficient and targeted use of chemicals, the desire to reduce costs and increase profitability, and concerns about worker safety and environmental impact.
Based on products, the robot segment is estimated to capture the highest market share during the period 2022 to 2027. Agriculture robot is increasingly used in various farming operations 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 drive market growth in the coming years.
North America generated the highest revenue of $3,218.3 million in 2021.
The region is experiencing an increase in the adoption of autonomous agriculture equipment such as autonomous vehicles, drones, robots, irrigation systems, and other automation and control systems.
In addition, the increased adoption of digital technologies for modern farm machinery in efficient crop production in the region, along with the rise in popularity of indoor farming owing to urbanization. In addition, the North America region is also anticipated to grow at a faster rate.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, and market penetration.
The top segment players who are leading include key autonomous agriculture equipment manufacturers such as autonomous tractors, planters, harvesters, robots, and drone manufacturers in the market and the ones who are engaged in providing autonomous farming solutions across the globe.
Recent Developments in Global Autonomous Agriculture Equipment Market
- In December 2022, CNH Industrial NV introduced new driverless tillage and driver-assist harvest solutions under the brand names of CASE IH and New Holland. This strategy has enhanced the product portfolio of the company in the market.
- In June 2022, AgXeed launched a new four-wheeled 75hp autonomous tractor. This new product, named Agbot 2,055W4 is specifically suited for seed-bed preparation, sowing, and mechanical weeding.
- In January 2022, in an announcement, Deere & Company revealed a fully autonomous tractor ready for large-scale production. Deere's 8R tractor combines a TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies.
- In May 2022, the acquisition of JCA Industries, Inc. by AGCO Corporation hastened the delivery of autonomous systems and machine automation by AGCO Corporation, which increased farmer productivity. With the goal of converting existing machines into autonomous ones, this acquisition assisted AGCO Corporation in becoming the undisputed market leader in the retrofit machinery sector.
Case Studies
- 5G Connected Autonomous Robots by KPN and AGROiNTELLi
- Automated Solution for the Irrigation Application
- Solutions for Crop Yield Assessment
Key Companies Profiled
- AGCO Corporation
- Naio Technologies
- CLAAS KGaA mbH
- DJI
- CNH Industrial N.V.
- Parrot Drone SAS
- AgEagle Aerial Systems Inc
- Deere & Company
- YANMAR HOLDINGS Co., Ltd.
- YTO GROUP CORPORATION
- Autonomous Tractor Corporation
- Mahindra & Mahindra Ltd.
- Kubota Corporation
- Delair
- Hexagon Agriculture
Industry Outlook
Trends: Current and Future
- Emergence of Future Communication Technologies
- 5G: The Future of Autonomous Agriculture
- LoRa Wide Area Network (LoRaWAN)
- Ecosystem/Ongoing Programs
- Consortiums and Associations
- Regulatory Bodies
- Government Programs
Business Drivers
- Growing Need for Automation in Agriculture
- Labor Shortage
- Farm Consolidation
- Increasing Focus toward Sustainability
- High Efficiency and Productivity
- Improved Safety
Market Strategies and Developments
- Business Strategies
- Product Developments
- Market Developments
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Collaborations, Joint Ventures, and Alliances
- Snapshot of Corporate Strategies Adopted by the Players in Autonomous Agriculture Equipment Market
Business Opportunities
- Favorable Government Policies
- Increased R&D Investment
- Gradual Data Collection Helping to Improve Solutions
- Increasing Demand from Co-Operative Farmers
- Opportunities in ATaaS Market
Business Challenges
- High Initial Investment
- Lack of Awareness
- Limited Adaptability/Availability
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