Autonomous Farm Equipment Market Report 2021 | Regional Analysis & Growth Forecast To 2024
The autonomous farm equipment market is set to make a significant headway in the forecast by 2024. The high cost of autonomous farm equipment and the training time required to learn the use of such equipment can somewhat hinder the growth of the autonomous farm equipment industry. Nonetheless, major companies have been working toward introducing more cost effective and efficient devices.
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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.
Autonomous equipment is designed to give farmers more freedom to manage the farms rather than drive around the farm on a variety of vehicles. Broadly, the operational landscape of autonomous farm equipment market is segmented into partially and fully autonomous farm equipment. Partially autonomous devices already contribute to a large share of the overall autonomous farm equipment industry, subject to their widespread commercialization and competitive pricing. Farm equipment such as the ones that can separate corn from cob, steer themselves, or pick potatoes while leaving the waste on the field are already widely in use.
Fully autonomous farm equipment, such as the ones that can make farming decisions on their own without any human supervision are no more a thing of the future either. Pertaining to rapid technological advancements and farming innovations, fully autonomous farm equipment market size is projected to increase at a growth rate of more than 40% over 2017-2024.
Drones or unmanned aerial vehicles (UAV) on the other hand, are expected to bring about a commendable upsurge in autonomous farm equipment industry. Technologically advanced drones are increasingly being used for soil and field analysis, planting, crop spraying and monitoring, irrigation and health assessment of crops. Drones can reach any corner of the field very quickly and can effectively identify problems and brainstorm solutions when they are incorporated with 3D maps, ultra-sonic echo machines, cameras, thermal sensors, scanners, and a plethora of other equipment, pertaining to which UAV autonomous farm equipment market is estimated to witness a 35% growth by 2024.
Key industry players like John Deere, Agrobot, Case IH, CLAAS, AGCO and Mahindra are working towards launching high-grade technological products in autonomous farm equipment industry. It is estimated that a major portion of the farming budget is required not only to buy equipment but also for the upkeep and repair. In this regard, companies partaking in autonomous farm equipment industry share are focusing on bringing forth better hardware technology. As per statistics, hardware technology currently dominates the autonomous farm equipment market, accounting for 95% of the total share.
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Data Tables:
TABLE 1. Autonomous farm equipment industry 3600 synopsis, 2013 - 2024
TABLE 2. Autonomous farm equipment market volume and revenue, 2013 – 2016, (Units) (USD Million)
TABLE 3. Autonomous farm equipment industry volume and revenue, 2017 – 2024, (Units) (USD Million)
TABLE 4. Autonomous farm equipment industry volume by operation, 2013 - 2016 (Units)
TABLE 5. Autonomous farm equipment industry volume by operation, 2017 - 2024 (Units)
TABLE 6. Autonomous farm equipment market revenue by operation, 2013 - 2016 (USD Million)
TABLE 7. Autonomous farm equipment industry revenue by operation, 2017 - 2024 (USD Million)
TABLE 8. Autonomous farm equipment industry volume by product, 2013 - 2016 (Units)
TABLE 9. Autonomous farm equipment industry volume by product, 2017 - 2024 (Units)
TABLE 10. Autonomous farm equipment industry revenue by product, 2013 - 2016 (USD Million)
TABLE 11. Autonomous farm equipment industry revenue by product, 2017 - 2024 (USD Million)
TABLE 12. Autonomous farm equipment industry revenue by technology, 2013 - 2016 (USD Million)
TABLE 13. Autonomous farm equipment market revenue by technology, 2017 - 2024 (USD Million)
TABLE 14. Autonomous farm equipment industry volume by region, 2013 - 2016 (Units)
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