IMARC Group, a leading market research company, has recently releases report titled “Autonomous Tractors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global autonomous tractors market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Autonomous Tractors Market?
The global autonomous tractors market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2028, exhibiting a growth rate (CAGR) of 21.5% during 2023-2028.
Autonomous tractors are self-driving tractors that are automatically operated with modern technology to offer better efficiency while reducing human intervention. They include various components such as radar, light, detection, and ranging (LiDAR), ultrasonic range sensors, a global positioning system (GPS), camera/vision sensors, and hand-held devices. They help transform farming and make agriculture more automated, provide real-time soil analysis, and aid in seed selection, planting, and field mapping using data science, deep learning, and computer vision. As a result, autonomous tractors are gaining immense traction in the agricultural sector across the globe.
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What are the growth prospects and trends in the autonomous tractors industry?
The market is primarily driven by the rising demand for autonomous tractors for improving the yield of farms and the enhanced efficiency of agricultural procedures. They also provide labor productivity by allowing farmers to manage numerous farming operations simultaneously. In addition, the growing population and rapid urbanization are contributing to market growth.
Moreover, various technological advancements such as the introduction artificial intelligence (AI), machine learning (ML), precision farming, and the incorporation of the Internet of Things (IoT) represent another major growth-inducing factor. Besides this, governments of numerous countries are investing in the agriculture industry to promote sustainable production techniques, which is providing a positive thrust to market growth.
Furthermore, the widespread adoption of autonomous tractors for seed sowing, tillage, and harvesting, product innovations, and mergers and acquisitions among key players, are also creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Camera/Vision Systems
- Ultrasonic Sensors
- Hand-held Devices
Breakup by Power Output:
- Less than 30 HP
- 30-50 HP
- 51-100 HP
- More than 100HP
Breakup by Crop Type:
- Fruits and Vegetables
- Cereals and Grains
- Oilseeds and Pulses
Breakup by Application:
- Seed Sowing
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
AutoNext Automation Pvt. Ltd., Autonomous Solutions Inc., Deere & Company, Kubota Corporation, Raven Industries Inc., Trimble Inc., Yanmar Holdong Co.Ltd. and Zimeno Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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