According to Fact.MR, a market research and competitive intelligence provider, the worldwide autonomous tractors market is set to hit US$ 13 billion by the end of 2033, expanding rapidly at 24% CAGR from 2023 to 2033.
As the world population has risen tremendously over the last few decades, there is a pressing need to enhance the effectiveness of agricultural operations to meet the world’s food needs. In addition, growing urbanisation has resulted in a significant drop in agricultural labor.
These considerations prompted farmers to seek processes and alternatives to increase yields and productivity to fulfil demand. Moreover, since cultivable land is finite and farm productivity depends on environmental conditions, there is a growing need to improve the efficacy of agricultural activities. This, combined with farmers’ expanding emphasis on increasing agricultural production, is one of the primary reasons driving the demand for autonomous tractors, which depend laser diodes, sensors, vision systems and GPS systems which allow them to work without the need for constant human input.
Major market players are focusing on collaborations to develop innovative solutions and acquire market share. AGCO and Carl Geringhoff Vertriebsgesellschaft decided to collaborate on the distribution and development of headers for combined harvesters in 2022. Gering Hoff is a massive corporation that has played a significant role in developing harvester headers that help farmers enhance production. Meanwhile Kubota collaborated with Nvidia, a US chipmaker, in 2022. Both firms collaborated to develop fully autonomous tractors.
Autonomous tractors boost labour productivity by allowing farmers to handle many farming tasks at the same time. Furthermore, investments in the agricultural industry have risen as a consequence of government initiatives to enhance the sector, causing the autonomous tractor market to continue to develop in a positive direction. Moreover, the increasing use of autonomous tractors to ensure sustainable food security, backed by self-sustaining agricultural mechanisation plans around the world, is driving market expansion.
“The number of agricultural labourers is constantly decreasing due to rising urbanisation,” said a representative from Fact.MR. “As a result, farmers are increasingly using modern agricultural equipment to substitute manual labor. The autonomous tractor, which is outfitted with technologies such as GPS and LiDAR, among others, has simplified operations and is thus being widely used by many farmers for cultivation.”
