Autonomous Farm Equipment Market

Autonomous Farm Equipment Market Outlook (2022-2032)

The global autonomous farm equipment market has reached a valuation of US$ 841.9 million in 2022 and is expected to progress at a CAGR of 15.3% to reach US$ 3,493.5 million by the end of 2032.

Sales of autonomous tractor accounted for nearly 60% share of the global autonomous farm equipment market at the end of 2022.

Report Attributes	Details
Autonomous farm equipment Market Size (2021A)	US$ 742.5 million
Estimated Market Value (2022E)	US$ 841.9 million
Forecasted Market Value (2032F)	US$ 3,493.5 million
Global Market Growth Rate (2022-2032)	15.3% CAGR
North America Market Share (2022)	~52.9%
North America Market Value (US$ Mn), 2022	US$ 445.3 million
Europe Market Share (%), 2022	~30.4%
Europe Market Value (US$ Mn), 2022	US$ 255.8 million
China Market Share (%), 2022	~ 2.9%
China Market Value (US$ Mn)	US$ 24.5 million
Market Share of Top 3 Countries	~54.6%
Key Companies Profiled	Trimble Inc. AGCO Corporation CNH Industrial N.V. Yanmar Holdings Co., Ltd. Kubota Corporation Iseki & Co., Ltd. Mahindra & Mahindra Escorts Limited Zimeno Inc (Monarch Tractor) Autonomous Tractor Corporation Autonomous Solutions, Inc. Deere & Company NovAtel Inc. (Hexagon) Agjunction, Inc. AG Leader Technology, Inc. Raven Industries (Applied Technology) Bear Flag Robotics

Sales Analysis of Autonomous Farm Equipment (2017-2021) Vs. Market Outlook (2022-2032)

Demand for fully autonomous farm equipment has increased as a result of increased mechanization and the integration of autonomous operations into agricultural practices. Farm equipment's growing potential for partial autonomous has forced manufacturers to introduce new products to the market.

In the upcoming years, increased demand for sustainable agriculture and effective resource management are anticipated to drive market expansion. Various leading market players such as JBT Corporation, Textron GSE, and many more are relying more on the distribution channel to bring efficiency to the supply chain. These companies are targeting regional distributors and dealers to provide their products and services. Thus boosting the growth of the autonomous farm equipment market.

• Short Term (2022 Q2 to 2025): Growing adoption of advanced farming practices will positively impact autonomous farm equipment market growth.
• Medium Term (2025-2028): North America and Germany are projected to witness comparatively high autonomous farm equipment demand due to increased penetration of farm equipment.
• Long Term (2028-2032): Integration of IoT and AI to open opportunities for autonomous farm equipment suppliers.

From 2017 to 2021, the global market for autonomous farm equipment registered a CAGR of 6.3%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 15.3% CAGR between 2022 and 2032.

Market share analysis of autonomous farm equipment based on application and region is provided in the above image. Under the application, cultivation sub-segment dominates with 42.3% market share in 2022.

What’s Driving High Demand for Autonomous Farm Equipment across Regions?

“Improved Agricultural Efficiency to Spur the Growth of Autonomous Farm Equipment Market”

Food waste is a global phenomenon that causes significant environmental harm and financial loss. Adopting autonomous agricultural equipment addresses this issue and in return provides benefits like increased yields and turnovers for farmers. Many precision agriculture techniques, such as strip-tilling and improved storage facilities are reducing food wastage. The smart technologies included in autonomous equipment like GPS enablers and crop sensors stand at the forefront of waste reduction.

Thus the benefits of low wastage and increased yields are to form the basis of increased demand of precision agricultural tools which forms a part of autonomous agriculture equipment’s. This is anticipated to propel the growth of the autonomous farm equipment market. Thus, the global market for autonomous farm equipment’s is anticipated to reach US$ 3,493.5 million by 2032.

“GPS Enables Convenient Assessment of the Agricultural Fields to Further Drive the Autonomous Farm Equipment”

Precision farming and autonomous tractors both heavily rely on GPS. With GPS, it is possible to map yields, prepare farms, map fields, sample soil, and scout crops. Farmers can use GPS to work in fields with poor visibility, such as those with dust, rain, fog, or darkness. GPS devices gather geographic information to map irrigation systems, field boundaries, and crop-related issues like weeds or diseases. Due to GPS accuracy, farmers can create farm maps that accurately depict the size of field areas, the location of roads, and the separations between points of interest. All of this important knowledge will aid farmers in modifying their farming techniques to maximize output.

These features are expected to increase interest in GPS-enabled devices, such as autonomous farm machinery. Thus, these characteristics are anticipated to drive the demand for the global autonomous farm equipment market.

What Do Autonomous Farm Equipment Manufacturers Need to Watch Out for?

“The Unavailability of Advanced Tools to Collect the Data Points can impede the Market Growth”

With the aid of various sensors and other technologies, autonomous farm equipment gathers data from agricultural fields. Only when crops are managed effectively can the information they provide be used to make decisions that will be profitable. On the other hand, ignorance may have detrimental effects on crop quality and production. The information is obtained after taking into account numerous variables over time.

The challenge of using these new technologies to extract data from crops is to produce something coherent and worthwhile because data by themselves are useless. Furthermore, gathering and analyzing such data takes time and effort. These elements are anticipated to limit the growth of the global market for autonomous farm equipment.

Country-wise Insights

How Autonomous Farm Equipment Market in U.S. Expected to Be Highly Lucrative?

Since the past ten years, the United States has been at the forefront of the demand for autonomous farm equipment in North America. The U.S. is the market leader in part because more and more of the nation's farmers are implementing cutting-edge technological solutions.

Additionally, it is anticipated that the North America market would generate a valuation of US$ 1,711.4 million by 2032 and will be generating a market share of 52.9% in 2022.

Will Increasing Use of Advance Machinery in Germany Drive Autonomous Farm Equipment Demand?

The European market for autonomous farming equipment is led by Germany. Germany is attracting potential investors from all over the world as a result of the country's manufacturing facilities using cutting-edge technology. Sales of autonomous farm equipment are anticipated to increase in the nation as a result of increased government investments and fresh initiatives and advanced machinery aimed at bolstering the agriculture sector.

With an estimated absolute opportunity in the market value of US$ 196.5 million during the forecast period, the market in Germany is anticipated to grow at a CAGR of 17.6%. Germany is therefore anticipated to experience significant market growth in the future.

Category-wise Insights

How is Tractor a Driving Segment in Autonomous Farm Equipment?

The most popular autonomous agricultural machine is the tractor. Autonomous tractors and harvesters are in high demand due to advantages such as high-precision automated drilling, GPS, and other wireless technologies for managing control stations, and accurate and reliable data collection on soil and crop conditions. These markets will continue to boost the sales of autonomous agricultural equipment manufacturers during the forecast period.

Based on the above facts, the autonomous tractor market is expected to generate the US $ 1,974.4 million by the end of 2032.

Why is Market Growth Being Led by the Partial Autonomous Farm Equipment?

Partial-autonomous agricultural machinery is expected to hold a sizeable market share during the forecast period. Partial-autonomous devices offer ease of use by offering the ability to switch to manual control.

Partial-autonomous agricultural machines can be manually or remotely operated, which is another advantage. These features are expected to grow in demand in the coming years. Therefore, based on the factors mentioned above, the partial-automatic technology market is expected to grow by more than 4.1X in these ten years.

Competitive Landscape

Prominent autonomous farm equipment manufacturers are Trimble Inc., AGCO Corporation, CNH Industrial N.V., Yanmar Holdings Co., Ltd., Kubota Corporation, Iseki & Co., Ltd., Mahindra & Mahindra, Escorts Limited, Zimeno Inc (Monarch Tractor), Autonomous Tractor Corporation, Autonomous Solutions, Inc., Deere & Company, NovAtel Inc. (Hexagon), Agjunction, Inc., AG Leader Technology, Inc., Raven Industries (Applied Technology), Bear Flag Robotics

Key players in the autonomous farm equipment market should focus on developing advanced equipment to further enhance their market presence in the industry. Among the equipment type, tractors in North America & Europe harvester market are expected to have substantial opportunities for the manufacturers. Player operating in autonomous farm equipment should swivel their focus towards launching new products along with competitive price offering. This approach in the market is poised to provide exponential boost for the organization.

• In May 2017, Trimble Inc. announced an agreement to acquire privately-held Müller-Elektronik, a German company specializing in implement control and precision farming solutions.
• In January 2021, AGCO joined the NEVONEX partner network as part of AGCO’s continued strategy to make it easier for farmers to work seamlessly across their farms. Through this NEVONEX collaboration, AGCO joins other leading crop care, seed, Farm Management Information System (FMIS), and precision agriculture companies, including Corteva, MyEasyFarm, Syngenta, Topcon, and Xarvio, to offer enhanced digital services on AGCO equipment, while making these activities more sustainable through more efficient application of inputs.

Fact.MR has provided detailed information about the price points of key manufacturers of autonomous farm equipment positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Autonomous Farm Equipment Industry

• By Equipment Type :

  • Tractor
  • Harvester
  • Sprinkler & fertilizer Sprayers
  • Seeder
  • Planter
  • Agriculture Drones

• By Technology :

  • Fully Autonomous
  • Partially Autonomous

• By Service Provider :

  • Autonomous Farm Equipment Manufacturers (OEMs)
  • 3rd-party Technology Providers

• By Application :

  • Cultivation
  • Harvesting
  • Planting
  • Spraying
  • Monitoring

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa