The report “Global Autonomous Farm Equipment Market 2019-2023” forecasts the autonomous farm equipment market will register a CAGR of close to 15% by 2023.
The use of AI in autonomous equipment for better decision making is likely to push growth in the market. AI is used in autonomous farm equipment to assist in machine vision of the equipment so that it can perform various tasks effectively.
Increasing government support for developing autonomous farm technology
Autonomous farm technology is essential for tackling various problems of the agricultural sector, such as lack of labor and low yields. As autonomous technology requires minimal human intervention and can be performed in low visibility, thus helping governments in food security challenges.
High initial capital investment
The cost of procuring autonomous farm equipment is significantly high when compared with traditional farm equipment.
AGCO, CLAAS, CNH Industrial, Deere & Company and Kubota are some of the major companies covered in this report.