The global autonomous tractorsmarket 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 rely on modern technology to provide higher efficiency and minimize human intervention. Their speed, steering, braking, and navigation can be autonomously controlled using several additional systems, such as global positioning systems (GPS), lasers, and cameras. They assist farmers in real-time soil analysis, seed selection, planting, and field mapping by using computer vision, data science, and deep learning. They also aid in transforming the ways of farming and making agriculture more automated. As a result, autonomous tractors find extensive applications in the agriculture sector for tillage, harvesting, and seed sowing across the globe.
Autonomous Tractors Market Trends:
At present, there is a rise in the need for increasing the efficiency of agricultural procedures as cultivable land is limited and the productivity of the farm depends on environmental conditions. This, along with the growing focus of farmers on improving the yield of the farm, represents one of the key factors driving the market. Moreover, autonomous tractors offer optimum labor productivity by enabling farmers to manage various farming operations simultaneously. This, coupled with the escalating demand for agricultural output due to the increasing population around the world, is propelling the growth of the market. In addition, governments of several countries are extensively investing in the agriculture industry, which is positively influencing the market. Besides this, auto-steering in autonomous tractors assist farmers in farming with more reliability. In line with this, the increasing unavailability of labor, especially in developed economies, is catalyzing the demand for autonomous tractors. Additionally, the rising employment of autonomous tractors to achieve sustainable food security supported by self-sustaining agricultural mechanization strategies across the globe is stimulating the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global autonomous tractorsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, power output, crop type and application.
The competitive landscape of the industry has also been examined along with the profiles of the key players being AutoNext Automation Pvt. Ltd., Autonomous Solutions Inc., Deere & Company, Kubota Corporation, Raven Industries Inc., Trimble Inc., Yanmar Holdong Co.Ltd. and Zimeno Inc.
Base Year of the Analysis
Component, Power Output, Crop Type, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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Key Questions Answered in This Report
The global autonomous tractors market was valued at US$ 2.3 Billion in 2022.
We expect the global autonomous tractors market to exhibit a CAGR of 21.5% during 2023-2028.
The rising adoption of autonomous tractors that provide optimum labor productivity by enabling farmers to manage numerous farming operations simultaneously, is primarily driving the global autonomous tractors market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in various agricultural activities, thereby negatively impacting the global market for autonomous tractors.
Based on the component, the global autonomous tractors market can be categorized into LiDAR, radar, GPS, camera/vision systems, ultrasonic sensors, and hand-held devices. Currently, GPS accounts for the majority of the global market share.
Based on the crop type, the global autonomous tractors market has been segregated into fruits and vegetables, cereals and grains, and oilseeds and pulses. Among these, fruits and vegetables currently hold the largest market share.
Based on the application, the global autonomous tractors market can be bifurcated into tillage, seed sowing, harvesting, and others. Currently, tillage exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global autonomous tractors market include AutoNext Automation Pvt. Ltd., Autonomous Solutions Inc., Deere & Company, Kubota Corporation, Raven Industries Inc., Trimble Inc., Yanmar Holdong Co.Ltd., and Zimeno Inc.
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