United States Autonomous Farm Equipment Market to Grow at a CAGR of 11% Through 2031 Precision farming improves yield by enabling farmers to use the correct amount of inputs such asfertilizers, water and seeds. This is supported by autonomous farm equipment that incorporates real-time positioning and crop data to improve productivity. Increased farm mechanization in regions such as North America, rising labor costs due to shortage of skilled labor, increasing pressure on global food supply due to rising population, and government initiatives to implement modern agricultural techniques are some of the major factors driving the growth of the global precision agriculture industry. Rising demand for implementation of precision farming is driving the sales of autonomous farm equipment. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=5674 The market witnessed a marginal dip in 2020 owing to the COVID-19 pandemic, as lockdowns and restrictions in movement resulted in shortage of equipment and led to disruptions in the supply chain. However, the market is getting back on its feet gradually, and is expected to offer lucrative growth over the coming years. As per Fact.MR’s analysis, the global autonomous farm equipment market is expected to expand at a healthy CAGR of around 19% from 2021 to 2031. Key Take aways from Market Study
Demand for autonomous farm equipment is increasing with mechanization of agriculture, availability of advanced technology, and sustainable agricultural practices. Sales of autonomous farm equipment such as full and partial autonomous tractors are increasing all over the world. Rising electrification trend as well as high demand for sustainability, remote sensing, and ease of operationare driving demand. Gradual increase in raw material costs and tariff prices are some of the challenges impacting market growth. North America and Europe hold a significant share in the global market. Inthese regions, high disposable income combined with rise in population growth, high investments in agriculture infrastructure, and increasing trend of farm automation have led rising demand for autonomous farm equipment.
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By mode of operation, partial autonomous farm equipment is expected to hold a majority of the market share by 2021. By equipment, tractors to be widely used because of their usage in a wide range of application at farms.