Autonomous Farm Equipment Market Trends

Growth Drivers

• Rising awareness of environmental sustainability - Consumer behavior has changed dramatically in recent years as more people prioritize sustainability and environmental conscience when making purchases. A new wave of responsibility has entered every sector due to the increase in eco-consciousness. Because of this, businesses are now rethinking customer experience (CX) in order to be more sustainable.
  
  As stated in the World Bank released in June 2021, the United Nations Carbon Change Conference (COP26) in November 2021, and the European Union's green agreement, which pledges the EU to achieve carbon neutrality by 2050 is done to achieve environmental sustainability.
• The growing IoT and navigational technologies globally - Technological advancements in sensors and connection enable more affordable digitalization, equipment downsizing, increased bandwidth availability, and seamless connectivity with private or public 5G networks. Once people incorporate the Internet of Things (IoT) and AI in their business they start understanding the ever-expanding capabilities that start from learning the data and using AI.
  
  As per a Research Nester expert poll, there will be 83 billion IoT connections globally by 2024, up from 35 billion in 2020.
• Consolidation of smartphones with agricultural hardware and software applications for autonomous tractors - The way farmers cultivate, supply, harvest, and transport food is being greatly improved by software engineers, increasing yields and lowering expenses. In this whole process, mobile apps are helping immensely. Smartphone apps are affordable and can easily be incorporated into agricultural hardware and software. Their high-resolution cameras and GPS help in taking samples, aerial imaging, and record keeping.
  
  Recently, cell phones have evolved into a wide range of practical portable gadgets, such as tablets and smartphones. People are so deep-seated with these devices that experts of Research Nester estimated that there will be more cellphone devices around 7.25 billion in 2024 than people almost 7.2 billion globally.

Challenges

• Incapacity of farmers to understand the latest technologies in agriculture - One major obstacle is farmers' ignorance of contemporary farming methods. Farmers in rural regions frequently lack knowledge about the most recent advancements in agricultural operations, which makes it more difficult for them to implement creative strategies that might increase productivity and lessen their influence on the environment.
• Costliness and complication of completely automated tractors - Because autonomous tractors integrate cutting-edge technology such as GPS, sensors, and AI, they come with significant upfront expenses. Widespread adoption may be hampered by farmers' reluctance to incur these fees, particularly small-scale farms with tight budgets.