About Farm Equipment Telematics
Telematics is a general term that refers to any device which merges telecommunications and informatics. Farm equipment Telematics is the technology that provides farmers with increasing equipment as well as Internet options. It is a technology that captures data from farm equipment operating in a field and transfers the information to the Internet in real-time. Telematics includes precision farming solutions by automating judgments or activities at a distance. From the arena of electrical engineering, telematics is important to use sensors, instrumentation and wireless communication for the purposes of computerizing information before it is sent out. In the country, it derives significantly on the internet as well as multimedia equipment from the field of computer science.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The farm equipment telematics market is highly competitive and dynamic, with new players and technologies emerging constantly. The companies that can offer the most comprehensive and user-friendly solutions, while addressing the challenges of cost, connectivity, and data literacy, are likely to be the most successful. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Farm Equipment Telematics market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CNH Industrial (United Kingdom), Deere & Company (United States), Kubota Agricultural Machinery (India), CropMetrics LLC. (United States), Trimble Navigation Limited (United States), CropX (Israel) and AgSense LLC. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Monsanto Company (United States), Ag Leader Technology (United States), AGCO Corporation (United States) and Dickey-John Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Farm Equipment Telematics market by and Region.
On the basis of geography, the market of Farm Equipment Telematics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Geographical Information System (GIS) will boost the Farm Equipment Telematics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Hardware, the sub-segment i.e. Sensors will boost the Farm Equipment Telematics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Crop Management Software will boost the Farm Equipment Telematics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption due to Use of Cloud Technology and Introduction of New Technology such as GPS
Market Growth Drivers:
Rapid Adoption of Smart Phones across the World, Rising Demand for Techniques in Agriculture Sector and Increasing Requirement due to Growth in Productivity and Operational Efficiency
Challenges:
Increasing Concern Regarding High Capital Investment
Restraints:
Lack of Awareness about Telematics in Emerging Markets
Opportunities:
The Emergence of Automation in Tractors and Rising Opportunities in Developing Countries
Market Leaders and their expansionary development strategies
In September 2023, AGCO & Bosch started partnership where AGCO partnered with Bosch to integrate Bosch's advanced sensor technology into AGCO's equipment, providing real-time data on soil conditions, crop health, and machine performance for precision farming applications.
In July 2023, Trimble RTX CenterPoint RTX-50 this high-accuracy positioning service delivers centimeter-level accuracy for autonomous guidance and precision farming applications, boosting efficiency and reducing operational costs.
Key Target Audience
Farm Equipment Telematics Services Providers, IT Service Providers, Agriculture Equipment Manufacturers, Government Bodies, Cloud Service Distributor, Agriculture Apparatuses Producers, Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.