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APAC autonomous farm equipment market share has been projected to register a CAGR of 25% by 2024. With automated devices garnering momentum in India, it has also been projected that the region would be a major revenue contributor toward APAC autonomous farm equipment industry. Given that the continent in itself is a hub of major agro-based emerging economies, it remains quite unarguable that Asia Pacific would be one of the key regional autonomous farm equipment industry in the years to come.
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While the notion of self-operating equipment seems quite attractive in theory, there remains no shred of doubt that practically implementing the concept on a large scale is enormously expensive. Product development and implementation costs thus, in particular, are likely to emerge as key restraints for autonomous equipment market in the future. In consequence, companies have been attempting to devise newer strategies to brainstorm cost-effective solutions in order to increase product penetration, which would eventually have an impact on the revenue graph of autonomous farm equipment market.
The successful application of GPS systems in agriculture and the deployment of IoT in the farming sector notwithstanding, autonomous farm equipment industry trends are expected to escalate in the forthcoming years. As per estimates, autonomous farm equipment industry size is expected to exceed 3 million units by 2024, in terms of volume.
As automation pervades lucrative verticals, the agriculture domain, not to be obliterated, has also joined the list. Autonomous farm equipment market, in this regard, may be considered as one of the many pivotal sub-spheres of the tech-based agriculture sector, that has been gaining mass momentum in recent times. With the influx of highly advanced tech discoveries and the shifting trends toward the deployment of robotics owing to labor shortage, the utilization of self-operating agro-based components is on a rise, thereby impelling autonomous farm equipment industry share.
One of the most noteworthy trends of autonomous farm equipment industry in recent times is the rapid entry of start-ups in this business vertical, posing quite an interesting competitive scenario for prominent players. With the profound growth in the arena of robotics, entrants in autonomous farm equipment market have been attempting to actively tap every lucrative opportunity to come up with unique product ranges. For instance, a robotic engineer from Harper Adams University, England recently came up with an idea that it may be possible to produce crops without having to actually climb onto a tractor.
In this case, through high-end technology, a SimTech drill had been attached to the tractor, that undertook the seeding operations, while an automated Sampo Rosenlew 130 harvested the crop. In the years to come, it has been forecast that farmers may cease performing actual farming tasks, delegating them to automated devices, while they keep themselves free for other tasks. In the event that automated tractors such as the aforementioned prove successful in tests conducted on 100-hectare fields, the concept is likely to brew a revolution in autonomous farm equipment market.
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Some Point from Table of Contents:
Chapter 4 Autonomous Farm Equipment Industry, By Operation
4.1 Autonomous farm equipment industry share by operation, 2016 & 2024
4.2 Fully autonomous
4.3 Partially autonomous
Chapter 5 Autonomous Farm Equipment Market, By Product
5.1 Autonomous farm equipment industry 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 Autonomous farm equipment industry share by technology, 2016 & 2024
6.2 Software
6.3 Hardware
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