The global autonomous tractors market size is expected to reach USD 4.22 billion by 2030, registering a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Developments in technology are essential to the creation and uptake of autonomous tractors. Artificial intelligence, machine learning, GPS, and sensor advancements in recent times have greatly expanded the possibilities of these devices.
Autonomous tractors can traverse fields, identify obstructions, and make real-time operational modifications thanks to AI algorithms. Thanks to the exact positional data provided by GPS devices, field mapping and targeted application of inputs like herbicides and fertilizers are made possible. This level of technical complexity maximizes resource management on farms, decreases input waste, and increases operational efficiency. The demand for agricultural produce has increased due to the emergence of autonomous tractors in the global market. Since there is a limited amount of cultivable land and the farm's output is dependent on the outside environment, it is essential to manage the efficiency of procedures such as tillage, seeding, harvesting, and fertilizing.
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The accuracy of many farming operations is greatly improved by the use of autonomous tractors, which raises farm productivity. Tractors can also be equipped with a large variety of attachments based on their needs, which makes them difficult to operate and more likely to cause mistakes by people. Utilizing self-governing tractors reduces these mistakes. In addition, autonomous tractors maximize labor usage and let farmers effectively oversee multiple farming operations at once. In addition, the efficiency of irrigated water is greatly increased by the use of autonomous tractors for tasks such as tillage and seeding.
This cost barrier would discourage some people from joining the autonomous tractor industry, which would restrict its expansion. However, the initial costs are anticipated to drop as economies of scale and technology advance, potentially reducing this obstacle over time.
Autonomous Tractors Market Report Highlights:
Based on the power output, the autonomous tractors market is segmented into less than 40 hp, 41 to 100 hp, and more than 100 hp. The 41 to 100 hp segment had the largest market share of 38.4% in 2023. Autonomous tractors in the 41 to 100 hp range have gained prominence in the agriculture sector primarily due to their practicality and cost-effectivenessThe fully autonomous segment is anticipated to register the highest CAGR of 15.9% over the forecast period in the target market. Advances in technology, such as improvements in artificial intelligence, sensor technology, and connectivity, are likely driving the growth of fully autonomous tractorsNorth America accounted for the largest revenue share of 38.2% in 2023 and is expected to continue its dominance over the forecast period. North America has been an early adopter and leader in the development and deployment of precision agriculture technologies, including autonomous tractorsBrowse more reports published by Grand View Research.
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John Deere (Deere & Company)CNH IndustrialAGCO CorporationKubota CorporationClaas KGaA mbHYanmar Co., Ltd.Mahindra & MahindraSDF GroupTYM CorporationMonarch TractorAbout 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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