Autonomous Tractors Market Worth $5.38 Billion by 2029

Autonomous Tractors Market by Type (Fully Autonomous, Semi-Autonomous Tractors), Component (LiDAR, Radar, Ultrasonic Sensors, GPS), Power Output (Up to 30 HP, 31–100 HP, 101 HP & Above), Application (Tillage, Seed Sowing, Harvesting) – Global Forecast to 2029

According to this latest publication from Meticulous Research®, the autonomous tractors market is expected to reach $5.38 billion by 2029, at a CAGR of 22.4% during the forecast period 2022–2029. The growth of this market is driven by the rising adoption of modern agricultural techniques, the increasing government initiatives for supporting farmers, and improved credit availability for farmers. However, the high initial cost of advanced agriculture equipment and the rising fragmentation of land are factors restraining the growth of the autonomous tractors market.