Global ISOBUS Component Market Report 2023: Sector is Expected to Reach $1,228 Million by 2028 at a CAGR of 9.42% - ResearchAndMarkets.com

The "ISOBUS Component Market by Product, Application, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global ISOBUS component market size reached US$ 715.65 Million in 2022. Looking forward, the publisher expects the market to reach US$ 1228.23 Million by 2028, exhibiting a CAGR of 9.42% during 2022-2028.

Companies Mentioned

• AGCO Corporation
• AMAZONEN-Werke H Dreyer GmbH & Company KG
• Anedo GmbH
• Hexagon AB
• Krone NA Inc. (Bernard Krone Holding GmbH & Co. KG)
• Kuhn SAS (Bucher Industries AG)
• Kvaser
• Kverneland Group (Kubota Corporation)
• Pottinger Landtechnik GmbH
• SDF Group

The increasing adoption of precision farming practices, rising use of farming robots, and the growing incorporation of safety sensors represent some of the key factors driving the market.

ISOBUS is a standardized communication protocol used in the agricultural and forestry industry to connect and control machinery and equipment.

It allows seamless communication between different components, such as sensors, actuators, and controllers, which enables farmers to use a single display and control system to operate their entire fleet of machinery. These ISOBUS components also facilitate farmers to automate several tasks, including controlling implements, monitoring parameters like soil moisture or temperature, and managing precision farming practices to reduce the need for manual labor and improves efficiency.

ISOBUS components help collect and analyze a large amount of data like yield maps and weather data that is used to make informed decisions about planting, fertilizing, and harvesting. As it improves productivity, reduces costs, and optimizes the use of resources, the demand for ISOBUS component is escalating across the globe.

At present, due to the increasing environmental conditions, governing agencies of various countries are undertaking initiatives to promote sustainable farming practices. This, coupled with the rising adoption of precision farming practices to improve plant health, crop yield, and soil properties, represents one of the major factors driving the demand for ISOBUS components around the world.

Moreover, the growing adoption of farming robots that help farmers handle equipment and increase the accuracy of farming is influencing the market positively. In addition, the increasing farming activities and significant improvements in agricultural infrastructure are bolstering the growth of the market.

Besides this, rapid urbanization, rising global population, declining arable land, and increasing food security concerns are propelling the growth of the market. Furthermore, the integration of telematics, a global positioning system (GPS), the internet of things (IoT), and data analytics in ISOBUS components is strengthening the growth of the market.

These advanced technologies enable remote monitoring and control of equipment and track the location, performance, and maintenance needs of the equipment. Besides this, the incorporation of safety sensors and devices in ISOBUS components that allow the equipment to operate safely and efficiently and detect obstacles and automatically stop the equipment to avoid accidents is favoring the market growth.

Additionally, the growing use of smartphones and increasing penetration of high speed internet connectivity is creating a positive outlook for the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each segment of the global ISOBUS component market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product and application.

Product Insights:

• Hardware
• Electronic Control Unit (ECU)
• Universal Terminal
• Cables and Connectors
• Others
• Software
• Virtual Terminal
• Task Controller
• Mobile Application
• Others

The report has provided a detailed breakup and analysis of the ISOBUS component market based on the product. This includes hardware (electronic control unit (ECU), universal terminal, cables and connectors, and others) and software (virtual terminal, task controller, mobile application, and others). According to the report, hardware (electronic control unit (ECU), universal terminal, cables and connectors, and others) represented the largest segment.

Application Insights:

• Tractor
• Planter and Seeder
• Harvester
• Others

A detailed breakup and analysis of the ISOBUS component market based on the application has also been provided in the report. This includes tractor, planter and seeder, harvester, and others. According to the report, tractor accounted for the largest market share.

Key Questions Answered in This Report:

• How has the global ISOBUS component market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global ISOBUS component market?
• What is the impact of each driver, restraint, and opportunity on the global ISOBUS component market?
• What are the key regional markets?
• Which countries represent the most attractive ISOBUS component market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the ISOBUS component market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the ISOBUS component market?
• What is the competitive structure of the global ISOBUS component market?
• Who are the key players/companies in the global ISOBUS component market?

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