The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), ISOBUS Component Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of ISOBUS Component Industry (2024-2030):
According to the latest report, The ISOBUS Component Market size was valued at around USD 713.1 million in 2023 and is estimated to grow at a CAGR of around 8.1% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the ISOBUS Component industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR (2024-2030): 8.1%
- Market Value In 2023: USD 713.1 Million
What are the major Driver the ISOBUS Component industry?
Need for Standardized Communication between Agricultural Equipment – In the agricultural industry, multiple tools are required to complete a specific task. A variety of agricultural equipment is used in agriculture, including tractors, cultivators, harrows, seed drills, and rollers. Agriculturalists have always struggled with how to properly match & use different equipment in the field to reduce operating time & increase efficiency. The ISOBUS standard has provided a solution to this long-standing problem.
The standard allows for the management of communication between tractors, software, and equipment from other manufacturers, allowing for the exchange of data & information in a universal language via a single control console in the tractor’s cab. With the increased usage of ISOBUS-compliant equipment in the field, field workers have realized the significance of ISOBUS as the standard has provided increased efficiency, productivity, and more transparency.
Along with this, the data collected, using ISOBUS equipment can be accessed for remote fleet management & diagnostics of agricultural activities. Tractor status & position can be measured using GPS-enabled systems, and productivity can be tracked and updated in the event of a change. Thus, the need for standardized communication between agricultural equipment has become a crucial driver for the growth & expansion of the Global ISOBUS Component Market.
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ISOBUS Component Market Segmentation
The ISOBUS Component Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Application
- Tractor
- Planter and Seeder
- Harvesters
- Others
- By Product
- Hardware
- Electronic Control Unit (ECU)
- Universal Terminal
- Cables and Connectors
- Others
- Software
- Virtual Terminal
- Task Controller
- Mobile Application
- Others
- Hardware
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
As per the regional aspect, the ISOBUS Component Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/isobus-component-market.html
Top Companies in the ISOBUS Component Market
AMAZONEN-WERKE H. DREYER SE & Co. KG, Anedo GmbH, CLAAS KGaA mbH, CNH Industrial N.V., DEUTZ-FAHR Fendt, Deere & Company, Hexagon Agriculture, Krone NA, Inc., Kuhn Group, Kvaser, Kverneland Group, LEMKEN GmbH & Co. KG, Massey Ferguson, PÖTTINGER Landtechnik GmbH, Others
ISOBUS Component Industry Recent Development:
In 2023: SDF and Deutz-Fahr partnered strategically. The expansion intends to manufacture technically sophisticated and ISOBUS-compatible tractors and agricultural equipment for Deutz-Fahr and to collaborate on SDF Smart Farming Solutions like ISOBUS.
In 2022: Deere & Company expands its Startup Collaborator program with the addition of seven new companies (Burro, Crop. Zone, Four Growers, SeeDevice, Ucropit, ViewAR, and Yard Stick). The Startup Collaborator program would assist the company in deepening its interaction with startup companies whose technology could potentially add value to the company’s prospects in the future.
In 2022: CNH Industrial expands its presence in India by establishing a cutting-edge Technology Center. This strategic hub is an essential component of the Company’s global R&D footprint, with a focus on Product Development and digital solutions.
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