Market Research Report
Autonomous Tractors Market by Component (Sensor, GPS, Vision System, and Others) and Application (Tillage, Harvesting, Irrigation, Seed Sowing, Spraying, and Fertilizing) - Global Opportunity Analysis and Industry Forecast, 2018-2025
|Published by||Allied Market Research||Product code||648151|
|Published||Content info||195 Pages
Delivery time: 2-3 business days
|Autonomous Tractors Market by Component (Sensor, GPS, Vision System, and Others) and Application (Tillage, Harvesting, Irrigation, Seed Sowing, Spraying, and Fertilizing) - Global Opportunity Analysis and Industry Forecast, 2018-2025|
|Published: May 1, 2018||Content info: 195 Pages||
The report includes the study of autonomous tractors market. The global autonomous tractors market size was $648.9 million in 2016, and is projected to reach $4,389.8 million in 2025, growing at a CAGR of 24.0%. Autonomous tractors which are also self-driving tractors use advanced technology to perform numerous farm duties and help farmers.
Factors such as improved operational proficiency and enhanced productivity of crop yields, and increased support initiatives by governments to adopt newer technologies propel the demand for autonomous tractors globally. Moreover, these tractors help farmers by offering beneficial information related to soil conditions, crop yield, fuel consumption rate, and others, thus driving the market growth. However, high initial investment and maintenance costs required by these tractors are major challenges faced by the players operating in the industry. Growth in demand for innovative & advanced technological tractors offer promising opportunities for players in the autonomous tractors industry. Moreover, increase in use of drones in autonomous tractors provides lucrative business opportunity to the players.
The global autonomous tractors market is segmented based on component, application, and region. Based on components, the market is categorized into sensor, GPS, vision system, and others. The GPS segment is projected to dominate the global market throughout the study period. Based on application, the market is categorized into tillage, harvesting, irrigation, seed sowing, spraying, and fertilizing. The tillage segment accounts for the maximum market share.
The global autonomous tractors market is analyzed across four geographical regions, i.e., North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America is expected to dominate the market throughout the forecast period. LAMEA is projected to grow at the fastest rate, followed by Europe. The key players profiled in this report are AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra, Trimble, and Yanmar.