Autonomous Farm Equipment Market Future Challenges and Industry Growth Outlook by 2021-2024
Autonomous farm equipment market is likely to emerge as one of the most revolutionary verticals of the agriculture business space, that will positively reshape the dynamics of farming in the decades to come. Though the notion of automating farm equipment has been around since the 1940s, the idea has been brought to fruition only in the last decade or so. Major autonomous farming equipment industry players are now conducting extensive R&D programs to develop even more technologically advanced automated equipment.
Increasing penetration of self-driven farm equipment offers comparatively higher productivity as well as enhanced fuel efficiency when compared to manually driven farm equipment. Ongoing technological advancement in the self-steering techniques and obstacle avoidance systems will support product consumption, thus accelerating autonomous farm equipment market demand.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/2230
A large percentage of farmers are yet to adopt automation techniques, which creates huge opportunities for startups to enter this lucrative business. Prevailing innovation in robotics and semiconductor technology should boost the application of driverless tractors, drones and harvesters, subsequently augmenting autonomous farm equipment market growth. Though higher cost of these equipment may negatively impact the business growth, consistent focus on reducing the cost effectivity should help the market thrive successfully in the forecast years.
Based on the operation methods, the autonomous equipment market is segmented into fully autonomous and partially autonomous equipment. The partially autonomous segment dominates the market in terms of share by volume, owing to lower price, easy maintenance and high commercialization of these products, especially in the developed nations.
On the other hand, the autonomous equipment segment is propelled by increasing deployment of advanced systems such as GPS and precision farming, and IoT for remote monitoring of the devices. Fully autonomous segment in farm equipment market is projected to substantially grow at a CAGR over 40% during the forecast timeframe.
Tractors segment will lead the autonomous farm equipment market owing to high importance of the device and multirole benefits for carrying out several farm operations. Increasing implementation of self-steering and obstacle avoidance systems in this equipment will drive the business demand. Tractors segment accounted for over 60% of the autonomous farm equipment industry share in 2016 and is further estimated to keep growing at a significant pace through the forecast timeframe.
Growing innovations in UAV technology have been consistently enhancing the drone operations making them smoother and user friendly in terms of functionality. The autonomous farm equipment market from UAV segment is estimated to grow at a CAGR over 35% through 2024.
Request for a Customization of this research report @ https://www.decresearch.com/roc/2230
Partial Chapter of the Table of Content
Chapter 4 Autonomous Farm Equipment Market, By Operation
4.1 Market share by operation, 2016 & 2024
4.2 Fully autonomous
4.3 Partially autonomous
Chapter 5 Autonomous Farm Equipment Market, By Product
5.1 Market share by product, 2016 & 2024
5.2 Tractors
5.3 Harvesters
5.4 UAV drone
Chapter 6 Autonomous Farm Equipment Market, By Technology
6.1 Market share by technology, 2016 & 2024
6.2 Software
6.3 Hardware
Charts & Figures
FIG. 1 Industry segmentation
FIG. 2 Industry landscape, volume (Units) & revenue (USD Million), 2013 - 2024
FIG. 3 Industry ecosystem analysis
FIG. 4 Technological advancements
FIG. 5 Cost structure analysis, 2016
FIG. 6 Precision farming forecasted compound annual growth rate (CAGR%), by region (2014-2020)
FIG. 7 GPS soil mapping used as percentage of crops planted in acres (2005 – 2013)
FIG. 8 Annual land take in Europe by several types of human activity
FIG. 9 Agricultural exports (USD bn, average 2012-2014)
FIG. 10 Growth potential analysis
FIG. 11 Porter’s analysis
FIG. 12 PESTLE analysis
FIG. 13 Market volume share by operation, 2016 & 2024
FIG. 14 Autonomous farm equipment market volume share by product, 2016 & 2024
FIG. 15 Market revenue share by technology, 2016 & 2024
FIG. 16 Market volume share by region, 2016 & 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/autonomous-farm-equipment-market