Market Research Report
Global Autonomous Farm Equipment Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||756734|
|Published||Content info||124 Pages
Delivery time: 1-2 business days
|Global Autonomous Farm Equipment Market 2019-2023|
|Published: November 30, 2018||Content info: 124 Pages||
The use of AI in autonomous equipment for better decision making is likely to push growth in the market. AI is used in autonomous farm equipment to assist in machine vision of the equipment so that it can perform various tasks effectively. Technavio's analysts have predicted that the autonomous farm equipment market will register a CAGR of close to 15% by 2023.
Autonomous farm technology is essential for tackling various problems of the agricultural sector such as lack of labor and low yields. As autonomous technology requires minimal human intervention and can be performed in low visibility, thus helping governments in food security challenges.
The cost of procuring autonomous farm equipment is significantly high when compared with traditional farm equipment.
For the detailed list of factors that will drive and challenge the growth of the autonomous farm equipment market during the 2019-2023, view our report.
The market appears to be concentrated and with the presence of few companies including AGCO and CLAAS the competitive environment is quite intense. Factors such as the increasing government support for developing autonomous farm technology and the use of AI in autonomous equipment for better decision making, will provide considerable growth opportunities to autonomous farm equipment manufactures. AGCO, CLAAS, CNH Industrial, Deere & Company, and Kubota are some of the major companies covered in this report.