Autonomous Farm Equipment Market Analysis

Autonomous Farm Equipment Market Analysis

The Japan autonomous farm equipment industry is expected to witness around 11% growth rate through 2027 due to rising workforce issues in the sector. Players in the domain are constantly emphasizing on improving their solution offerings to establish a differentiated market positioning and cater to a large set of customers. These factors have encouraged companies to introduce new features in the product line for tackling labor shortage issues.

For instance, in February 2021, Yanmar Agribusiness upgraded its autonomous tractor range with full autonomous work. The company has included multi-frequency antennas and advanced GNSS satellite features, thus improving positioning, RTK coverage & precision of the equipment. It will also support in addressing the aging farming population problems of the sector.

The autonomous farm equipment market is poised to register gains of above 5% in Germany till 2027 owing to increasing R&D activities by the manufacturers. To build an integrative & holistic solution portfolio, companies are emphasizing on forming strategic partnerships or investments in complementary businesses. Enhancements in the equipment will offer better features such as autonomous navigation, 5G support, LTE & remote control to the end-users, thus increasing the utilization of drones in the Germany and other operated countries.
 

The North America autonomous farm equipment market demand is estimated to observe a CAGR of nearly 8% through 2027 fueled by rising investments in R&D activities. The increasing income of farmers in the regional agriculture sector will offer significant growth opportunities. According to the United States Department of Agriculture (USDA), gross cash farm income is forecast at USD 488 billion in 2021 compared to USD 348 billion in 2001. The net farm income is forecast to increase by 18.7% in 2021, i.e., to USD 116.8 billion.
 

A growing population demand for food safety is boosting the usage of innovative agricultural technologies to efficiently increase farm produce. The widespread use of tractors and combines harvesters with autosteering capabilities in the region will propel industrial expansion.