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Autonomous Farm Equipment - Global Market Trajectory & Analytics

  • ID: 4845745
  • Report
  • September 2020
  • Region: Global
  • 227 pages
  • Global Industry Analysts, Inc
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The global market for Autonomous Farm Equipment is projected to reach US$128.8 billion by 2025, driven by growing government and private sector investments in intelligent agriculture as the future of sustainable farming. Major factors playing key roles in catalyzing revolutionary changes in agricultural technologies include growing population and food demand; escalating shortages in arable land due to soil pollution and use of agricultural lands for industrialization and urbanization; need to increase yields per acre; shortage of labor; growing carbon footprint of agricultural activities; and rising urgency in addressing sustainability issues such as unacceptable rise in pesticide residues, soil degradation, water wastages, herbicide resistance in plants, and preventable losses in planting, growing, and harvesting. All of these factors catalyze the concerns surrounding food security, and opens up new revenue possibilities and opportunities for automation in agriculture. Achieving sustainable food security supported by self-sustaining agricultural mechanization strategy is emerging as the cornerstone for the growth of automation in agriculture. Benefits of mechanized agriculture practices include increase in crop yields per acre; increase in agricultural production; productivity enhancements; increased efficiency of farming; lower costs; improved farm profitability; enables more land reclamation; prevents soil erosion; enables the shift from `subsistence farming` to commercial agriculture; addresses the problem of labor shortages; and better use of land. All these benefits help in increased crop production thereby increasing food supply, the key to meeting food security goals.

A key trend in the market is the effervescent developments in artificial intelligence (AI) which has the potential to catapult autonomous farm equipment into the next level of efficiency in farming. Autonomous farming systems provide better ways to grow crops. For instance, machine vision powered agri-robots can monitor and spray herbicides only on weeds so as to prevent herbicide resistance; deep learning and image vision embedded equipment aid in smart crop and soil health monitoring helping lessen the annual cost of soil erosion which is over US$46 billion in the U. S alone; lightweight smaller robots alleviate soil compaction issues and help increase crop yields by over 10%; autonomous AI-powered fruit picking machine picks only mature fruits saving humans repetitive tasks; crop spraying drones significantly reduce the amount of pesticides and insecticides used and eliminates the risk of overspray. The United States and Europe represent the largest markets worldwide with a combined share of 52.7%. China ranks as the fastest growing market with a 16.7% CAGR over the analysis period against the backdrop of the emergence of smart agriculture as a new industry in the country. Farming methods and practices are rapidly changing in China. From Northwestern Xinjiang to Jiansanjiang, several pilot projects are underway involving driverless tractors, satellites, drones, pest-detecting cameras and farmerless farms. Asia-Pacific excluding China follows next with a 16.4% CAGR with India and other Southeast Asian countries, also racing to digitalize farming.

Competitors identified in this market include, among others:
  • AGCO Corporation
  • Bobcat Company
  • Claas KGaA mbH
  • CNH Industrial N. V.
  • Iseki & Co., Ltd.
  • John Deere
  • Kubota Corporation
  • SDF S. p.A.
  • YANMAR Co., Ltd.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Growing Population & Food Security Concerns, the Foundation for the Growth of Agricultural Equipment
  • Long Term Focus on Feeding the World as Population Touches a Projected 9.2 Billion by 2045 to Sustain the Growth of Mechanized Farm Equipment: Global Population (in 000s) by Region for the Years 2018, 2025, 2035 & 2045
  • Climate Change Adds Fuel to the Already Burning Issue of Food Security
  • The World of Change Characterized by Rising Surface Temperatures on Earth & its Negative Impact on Agriculture Increases the Reliance on Advanced Farming Systems & Technologies to Sustain Crop Production: Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
  • What this Means for Autonomous Farm Equipment?
  • Global Competitor Market Shares
  • Autonomous Farm Equipment Competitor Market Share Scenario Worldwide (in %): 2022E
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Declining Agricultural Land Productivity Sets the Stage for Transformation in Farming
  • Loss of Arable Land Exerts Immense Pressure on Yields Per Acre: Global Availability of Arable Land as a % of Total Land Area & Hectares Per Person for the Years 1990, 2000, 2018 and 2020
  • Growing Investments in Smart Farming & Increased Use of IoT in Agriculture Preps the Market for Robust Growth
  • Rise of Smart Agriculture Sets the Stage for Adoption of Automated Farming Technologies: Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2019 & 2024
  • Increased Deployment of IoT in Agriculture Strengthens the Business Case for Autonomous Farm Equipment: Global Agricultural IoT Market (In US$ Billion) for the Years 2019 & 2024
  • Innovation in Advanced Robotics Plays a Key Role in the Commercialization of Autonomous Farm Equipment
  • Continuous R&D in Robotics & the Ensuing Expansion of the Robotics Market Bodes Keeps the Innovation Wheel Well Oiled for Agricultural Robotic Solutions: Global Market for Robotics (In US$ Billion) for the Years 2019 & 2024
  • GPS Systems & Navigation Emerge to Be Indispensable in Autonomous Farm Equipment
  • Technology Penetration of High-Precision GPS Vital in Making Autonomous Vehicles a Reality: Global Positioning Systems (GPS) Market Worldwide (In US$ Billion) for the Years 2019, 2022 and 2025
  • Developments in Artificial Intelligence (AI), Machine Vision & Machine Learning Remain Critical to Commercialization & Growth
  • Opening Up of Opportunities for AI in Agriculture to Push Up the Innovation Index in the Market: Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2019, 2022 and 2025
  • Robust Government Budgets for Autonomous Agricultural Technology in Support of Food Security Goals to Benefit Market Growth
  • Backed by Government Funding & Support, Automation in Agriculture Gains Ground: Percentage Share (%) of Government Expenditure on Agriculture in Total Budgets by Region for the Years 2010, 2015, 2019 and 2021
  • Worsening Labor Shortages & Rising Labor Costs Drives Interest in Autonomous Equipment
  • Shrinking Labor for Agriculture Raises the Red Flag Spurring Agriculture on the Road to Automation: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
  • As a Bridge to Fully Autonomous Vehicles, Partially Autonomous Vehicles Enjoy Significant Market Dominance
  • Driverless Tractors, the Future of Farming on Large Farmlands
  • Farm Consolidation & Increase in Average Size of Farm Pave the Way for the Deployment of Driverless Tractors: Average Size of Farms (In Hectares) by Region/Country for the Year 2019
  • Agricultural Drones Emerge to Revolutionize Farming in the 21st Century
  • Expanding Applications of Commercial Drones Supported by Progressive Improvements in Functionality to Help Autonomous Farm Equipment Cross the Chasm Between Early Adoption to Mass Adoption: Global Commercial Drone Market (In US$ Billion) for the Years 2019, 2022 and 2024
  • Emergence of Flying Robots as the New Face of Robotics Coupled With Effervescent R&D in the Space, Paves the Way for Algorithms, Drones & Robots to Revolutionize Agriculture & Farming: Global % Share Spending on Robotics & Drones for the Year 2019E
  • Myriad Benefits Drive the Popularity of Automated Harvesters
  • Grain Loss During Harvesting Caused by Current Generation Machines Drives Demand for Smart Autonomous Harvesting Machines: Corn Head Kernel Loss While Harvesting With a Combine Harvester
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Autonomous Farm Equipment Market Share (in %) by Company: 2019 & 2025
  • Market Analytics
CANADA

JAPAN

CHINA

EUROPE
  • Market Facts & Figures
  • European Autonomous Farm Equipment Market: Competitor Market Share Scenario (in %) for 2019 & 2025
  • Market Analytics
FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 40
Note: Product cover images may vary from those shown
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