The global ISOBUS Terminal Market is estimated to be valued at US$ 698 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
ISOBUS terminals serve as a communication interface between agricultural machinery like tractors and implements. They facilitate interoperability and communication standards between equipment from different manufacturers. ISOBUS terminals help reduce complexity and increase productivity for farmers.
Market key trends:
Increasing adoption of precision farming techniques is one of the major trends fueling growth of the ISOBUS terminal market. Precision farming utilizes advanced technologies like GPS, GIS and sensors to optimize agricultural productivity. ISOBUS terminals help connect farm equipment to GPS, enabling precision applications like variable rate technology. They provide farmers with real-time insights on soil health, moisture levels and equipment performance to maximize yields. The standardization of communication protocols brought about by ISOBUS also encourages manufacturers to develop advanced precision solutions integrated with the ISOBUS network. This increases adoption of digital agriculture technologies among growers.
Segment Analysis
The global ISOBUS terminal market is segmented by application into farming, transportation and logistics, construction, and mining. The farming segment is expected to dominate the market over the forecast period. This is owing to the increasing adoption of automated farm equipment and precision agriculture technology by farmers to improve farm productivity and efficiency. ISOBUS infrastructure development in tractors and harvesters by OEMs is also expected to drive the farming segment growth.
Key Takeaways
The Global ISOBUS Terminal Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing mechanization and automation in the agriculture industry.
Regional analysis
Regionally, North America dominated the ISOBUS terminal market in 2023 owing to early adoption of precision farming practices. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to the increasing acreage under mechanized farming in China and India.
Key players
Key players operating in the ISOBUS terminal market are Trimble, Topcon, Raven Industries, KUBOTA, Teletrac Navman, AGCO, Aagland, Lely, AgJunction, Robert Bosch, AgLeader Technology, AgEagle, DICKEY John, CLAAS, CNH Industrial, BouMatic, Hexagon Agriculture, Farmers Edge, Autonomous Tractor Company, Deere & Company. The market leaders are focusing on new product launches and partnerships to gain more market share.
Read more: https://www.ukwebwire.com/isobus-terminal-market-insights-forecast/
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