The global autonomous farm equipment market size is expected to reach USD 30.65 billion by 2030, registering a CAGR of 14.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Labor shortage is one of the major drivers of the autonomous farm equipment industry. The agricultural industry is facing a shortage of skilled labor. Autonomous equipment addresses this issue by reducing the reliance on human operators and allowing farmers to focus on strategic aspects of their operations.
Innovations in artificial intelligence (AI), machine learning, and sensor technology are other major factors behind the growth of the market. These advancements enable machines to perform tasks with high precision and adapt to various conditions, enhancing their effectiveness and efficiency. Moreover, autonomous equipment optimizes resource use, minimizes waste, and reduces environmental impact. For instance, precision agriculture techniques employed by these machines help in applying fertilizers and pesticides more accurately, thus promoting sustainable farming practices.
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While the initial investment in autonomous equipment can be high, the long-term savings are substantial. Reduced labor costs, increased operational efficiency, and minimized errors contribute to a more cost-effective farming operation.
Autonomous Farm Equipment Market Report Highlights:
Based on product, Unmanned Aerial Vehicles (UAVs) dominated the market with the largest revenue share of around 17% in 2023. UAVs offer flexibility and efficiency in agricultural operations, particularly for monitoring and data collection. They can also cover large areas quickly and access difficult terrainsThe fully autonomous segment is expected to register the fastest CAGR of 14.7% from 2024 to 2030. This can be attributed to the advancements in AI, ML, and sensor technologies that have enhanced the capabilities of fully autonomous systems significantly and enabled them to perform complex agricultural tasks with minimal human interventionBased on application, the field farming segment held the largest market share of 36.0% in 2023. Autonomous technologies, such as automated harvesters, self-driving tractors, and precision planting systems, have reached a higher level of maturity compared to other agricultural sectors, making them more reliable and attractive to farmersBrowse more reports published by Grand View Research.
Prescriptive Analytics Market Size, Share & Trends Analysis Report By Component (Software, Services), By Application (Risk Management, Marketing & Sales), By End-use, By Region, And Segment Forecasts, 2024 - 2030Digital Scent Technology Market Size, Share & Trends Analysis Report By Hardware (E-noses, Scent Synthesizers), By Application, By End-use (Medical, Entertainment), By Region, And Segment Forecasts, 2024 - 2030List of Key Players in the Autonomous Farm Equipment Market:
Deere & CompanyCNH IndustrialAGCO CorporationKubota CorporationCLAAS KGaA mbHYanmar Co., Ltd.Raven IndustriesNaio TechnologiesAgEagle Aerial Systems Inc.Mahindra & MahindraAGROBOTAbout Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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