Stratview Research published a new report on the “Autonomous Farm Equipment Market” that offers detailed segmentation of the market based on Operation Type, Product Type, Technology Type, and Region.

According to the report, the Autonomous Farm Equipment market size was valued at USD 58.4 billion in 2021 and is likely to grow at a CAGR of 6.29% during 2022-2028 to reach USD 92.66 billion in 2028.

Covid Impact –

The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market's manufacturing, demand, and distribution network. The Autonomous Farm Equipment Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.

Market Drivers

Some of the major factors fueling the growth of the market are-

• An Increase in the shortage of labor coupled with shifting trends towards the usage of autonomous equipment,
• High implementation of drones in agricultural applications.

Key Market Players –

To build a successful business, it is essential to understand the market – both the customers and the competitors. The published report consists of list of major players active in the North America FRP Tanks Market, is featured below –

• 3D Robotics
• ADAMA Ltd.
• AGCO Corporation
• Agribotix
• Agri-Tronix Corporation
• Autonomous Solutions, Inc.
• Autonomous Tractor Corporation
• Case IH
• Clearpath Robotics, Inc.
• Deutz-Fahr

Report Findings

Based on the operation type, the market is segmented as fully autonomous and partially autonomous. The fully autonomous segment is estimated to register a higher growth rate in the market on account of the increasing implementation of precision farming systems, fueling the segment’s growth during the forecast period.

Based on the product type, the market is segmented as tractors, harvesters, and UAV drones. Tractors are estimated to account for the largest share of the market during the forecast period on account of their wide utilization in the agricultural sector. Further, the constant ability of these vehicles with higher ROI factors is expected to have a positive influence on the market. Also, harvesters are estimated to witness significant growth in the market owing to continuous development in robotics coupled with product availability at competitive prices, boosting the overall industry growth during the forecast period.

Based on the technology type, the market is segmented into software and hardware. Hardware is estimated to be the dominating segment of the market owing to the growing advancements and easy operation of the device, fueling the growth of the segment during the forecast period.

In terms of regions, North America is estimated to be the dominating region in the market during the forecast period owing to the presence of various major industry players and the growing utilization of tractors and combined harvesters in the region. On the other hand, Europe and Asia-Pacific are also estimated to witness significant growth in the market on account of events leading to increased productivity across both of the regions during the forecast period.

FAQs in the report -

The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:

• How big are the potential Autonomous Farm Equipment?
• Will this market grow or shrink in the future?
• Who are our top competitors or key players?
• What market share do the competitors own?
• How Covid19 has affected the market?
• How long will it take to recover from the Covid-impact?

About us –

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