About this market
With the economic benefits of auto-steering systems, there is a growing demand for GNSS-based auto steering systems. GNSS-based auto steering systems are gaining high traction in the market as they ensure that the agricultural machinery makes less emissions or repeated passes during its operation due to poor visibility. The use of GNSS-based auto steering allows farmers to determine geographic coordinates accurately, which is essential to ensure the optimum performance of agricultural machinery in the field. Moreover, GNSS-based auto steering systems do not require new, fully integrated machinery as they can be installed as standalone systems in any machinery, which will contribute to growth in demand for auto steering in the coming few years. Technavio's analysts have predicted that the GNSS devices market in agricultural sector will register a CAGR of over 18% by 2022.
Increasing need to optimize crop inputs
Lower yields and expanding population require an increase in agricultural productivity, which, in turn, requires optimization of agricultural inputs along with the adoption of technical devices that can overcome the challenges faced by the farmers. The use of GNSS devices can ensure precision point positioning (PPP) in farms as it helps in reducing the timeframe of farming operations and provides significant economic benefits such as reduction in fuel consumption and labor.
Lack of awareness about modern software and tools
One of the major challenges for the growth of the global GNSS devices market in agricultural sector is the technological and social background of the farmers, as they might lack the knowledge about the use of advanced technology, which results to reduction in farming output.
For the detailed list of factors that will drive and challenge the growth of the GNSS devices market in agricultural sector during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of a few established companies including Deere & Company and Hemisphere GNSS, the market is expected to turn reasonably concentrated in the next five years. Factors such as the growing demand for GNSS-based auto steering systems and increasing need to optimize crop inputs, will provide considerable growth opportunities to GNSS device manufacturers. Deere & Company, Hemisphere GNSS, HEXAGON, Septentrio, TOPCON, and Trimble are some of the major companies covered in this report.