ISOBUS Component Market Poised for Robust Growth, Forecasted to Expand at 8.1% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global 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.

Report Coverage

This report offers a comprehensive analysis of the ISOBUS Component Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

ISOBUS Component Market Overview

The rising demand to resolve incompatibility issues between different agricultural equipment manufactured by different companies is primarily responsible for market growth & expansion. Agricultural fields necessitate various crop cultivation equipment, such as tractors, harvesters, and seed planters, which various companies manufacture. Different companies can manufacture agricultural equipment, so the smooth operation of the agricultural equipment of one company with that of another company is not an easy task because every piece of equipment has its system & process. Therefore, operating agriculture equipment is not viable, making it more time-consuming and pricey, necessitating a proper solution in the form of an ISOBUS component. Ultimately, such conditions are opening diversified growth prospects for the leading companies in the market.

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ISOBUS Component Market Segmentation Outlook

The ISOBUS Component is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

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

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

ISOBUS Component Market Driver

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.

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Top ISOBUS Component Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies 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 as key players shaping the market landscape.

ISOBUS Component Market News

• 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.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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