The Latin America, Middle East and Africa Autonomous Tractors Market would witness market growth of 25.6% CAGR during the forecast period (2023-2029).
The government support of modern technologies like artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML), as well as sustainable production methods like smart and precision farming, is fostering the development of the market for automated technology. For example, the use of autonomous tractors by farmers to replace manual labor is deliberate. These self-driving tractors are available for farmers at any time, per their schedules and plans.
These tractors also have automatic steering, which enables farmers to cultivate their land more reliably and fosters market expansion. Utilizing cutting-edge technology, like redundant and overlapping sensor arrays, autonomous tractors help with agricultural production because they can detect any anomalies in the field while operating. Farmers are increasingly embracing autonomous tractors to maintain productivity because climate change, safety issues, and other factors are all significant production impediments.
LAMEA is expected to grow moderately. The market for autonomous tractors is predicted to expand rapidly because of the rising popularity of IoT and AI-mixed applications, such as machine learning, predictive analysis, and others. Despite the advancements made in agricultural innovation programs over the past 20 years, there is still a critical need to improve agricultural technology and innovation facilities to address these problems. Due to the rising popularity of cell phones and the internet among consumers, farmers in various nations within the regional market are gradually adopting the newest technologies. The adoption of precision farming is also aided by farmers' expanding IoT (Internet of Things) networks and cutting-edge technology.
The Brazil market dominated the LAMEA Autonomous Tractors Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $106.7 million by 2029. The Argentina market is exhibiting a CAGR of 26.3% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 24.6% during (2023 - 2029).
Based on Crop Type, the market is segmented Fruits & Vegetables, Oilseeds & Pulses, and Cereals & Grains. Based on Component, the market is segmented into Radar, GPS, Camera/Vision Systems, Ultrasonic Sensors, LiDAR, and Hand-held Devices. Based on Farm Application, the market is segmented into Tillage, Harvesting, Seed Sowing, and Others. Based on Power Output, the market is segmented into 101 HP & Above, 31 - 100 HP, and Below 30 HP. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Autonomous Tractors Market is Projected to reach USD 4 Billion by 2029, at a CAGR of 20%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include KUBOTA Corporation, CNH Industrial N.V., Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited (Mahindra Group), Kinze Manufacturing, Inc., Alamo Group Inc. (Dutch Power B.V.), Yanmar Holdings Co., Ltd., Trimble, Inc. and Autonomous Tractor Corporation.
By Crop Type
By Component
By Farm Application
By Power Output
By Country
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