The global ISOBUS Terminal Market Growth Accelerated by Agricultural Robotics
ISOBUS terminal is a device that allows communication between agricultural equipment and tractors. ISOBUS terminals offer several advantages such as avoiding component failure, improved farm operations, efficient monitoring, and remote access. With growing adoption of automated agriculture equipment and robotics, real-time connectivity and communication between farm vehicles is crucial.
The global ISOBUS Terminal Market is estimated to be valued at US$ 698 million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Agricultural robotics is witnessing significant growth driven by farmers' desire to maximize productivity and reduce production costs. Robotic systems integrate automated machine vision, GPS, sensors and software to perform agricultural tasks autonomously. ISOBUS technology enables seamless communication between robotic equipment, allowing coordinated operations. For example, a fleet of robot tractors can automatically plough, seed and fertilize large fields under the command of a single operator or central computer system using ISOBUS. This trend towards automation is fueling demand for advanced ISOBUS terminals with capabilities to support robotics.
Segment Analysis
The global ISOBUS Terminal market is dominated by commercial terminals sub segment. Presently, over 60% of the market share is held by commercial terminals which are used majorly in tractors and harvesters for farm management. These commercial terminals offer a wide range of functionality for equipment monitoring and automation in agriculture. With growing mechanization and precision agriculture practices, demand for commercial terminals is expected to rise further in coming years.
Key Takeaways
The Global ISOBUS Terminal Market Size is expected to witness high growth over the forecast period of 2023-2030 supported by the rise in mechanized agricultural equipment and adoption of precision farming techniques worldwide. The market size is projected to reach nearly US$ 1.2 Bn by 2030 from US$ 698 Mn in 2023, expanding at a CAGR of around 4.5% during the forecast period.
Regional analysis: Asia Pacific region dominates the global ISOBUS terminal market and is expected to continue its lead through 2030. Countries like China, India are among the biggest producers as well as consumers of agricultural products which is driving the demand for advanced farm equipment and solutions. North America and Europe regions also offer significant growth opportunities for players.
Key players: Key players operating in the ISOBUS terminal market include Frinsa, Thai Union Group PCL, Century Pacific Food Inc., Bumble Bee Foods, LLC, Jealsa, Grupo Calvo, PT. Aneka Tuna Indonesia, American Tuna, The Jim Pattison Group, Bolton Group, Dongwon Group. Major players are focused on strengthening their distribution channels, developing customized solution offerings and gaining synergies through strategic collaborations for further market penetration globally.
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