Autonomous Tractors Market Demand with Leading Key Players and New Investment Opportunities Emerge To Augment Segments in Sector By 2030

PORTLAND, OR, UNITED STATES, May 18, 2023 /EINPresswire.com/ -- The autonomous tractors market refers to the industry segment that deals with the development, production, and sale of self-driving or driverless tractors. These tractors utilize advanced technologies, such as artificial intelligence (AI), computer vision, sensors, and GPS, to operate autonomously without human intervention. The use of autonomous tractors offers several potential benefits in the agriculture industry, including increased productivity, improved efficiency, and reduced labor costs.

The global autonomous tractors market size was valued at $1.6 billion in 2020, and is projected to reach $11.6 billion by 2030, registering a CAGR of 20.9% from 2021 to 2030.

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The market is mainly driven by increasing awareness among farmers regarding the importance of enhancing yield of the farm and increased investments in the agriculture industry globally. However, requirement of high initial investment is a major restraint in the growth of the market.

The latest study on the global autonomous tractor market covers a wide range of organizations from different regions. It offers comprehensive information based on market developments, competitions, and challenges faced by the industry. With this, the report also involves the key strategies followed among the market players, major market determinants, and recent trends that help the industry to expand. The report provides intense data from 2021-2028 and forecasted data till 2028 along with product outlines and other growth factors.

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Top Players are in This Report:

The key players profiled in the autonomous tractors market report include AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra, Trimble, and Yanmar.

During the pandemic lockdown, various manufacturers in the autonomous tractors market had to stop their business in countries such as China, the U.S., and India. However, scarcity of labor for agricultural activities created by initial lockdowns, fueled the demand for autonomous tractors. Furthermore, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of autonomous tractors companies.

It's worth noting that the autonomous tractors market is part of the broader trend of automation and digitalization in agriculture, which aims to leverage advanced technologies to improve farm operations, increase sustainability, and address the challenges faced by the farming industry.

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