Global Tractor Telematics Market 2018-2022 | Increasing Developments in Autonomous Tractors to Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 19, 2018--The global tractor telematics market is expected to post a CAGR of nearly 9% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global tractor telematics market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increased utility offered by telematics. Telematics is a technology that deals with the transmission of information over long distances such as details about the vehicle’s position and onboard diagnostics of the vehicle. Tractors equipped with telematics technology possess important utilitarian features that allow the tractor owners and manufacturers to develop better and sophisticated future models of tractors.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing developments in autonomous tractors as one of the key emerging trends in the global tractor telematics market:
Global tractor telematics market: Increasing developments in autonomous tractors
The increasing developments in autonomous driving technology have led to increased adoption within the automotive industry. In 2017, the trend of adopting electronics to mimic certain drivers’ actions was witnessed in tractors. Autonomous technology within a tractor utilizes inputs from tractor telematics to guide the vehicle based on the farming activity undertaken. Crucial information related to vehicle diagnostics allows the autonomous system to undertake the most favorable drive mode.
“In countries such as the US, a large portion of tractors sold are equipped with an auto-steering system that controls the vehicle’s steering even though lowly lit conditions. Farmers in the US have accepted self-driving technology within tractors and have been receptive to the autonomous driving features. These tractors reduce the farmers efforts in maintaining, harvesting, and planting crops,” says a senior analyst at Technavio for research on automotive components.
Global tractor telematics market: Segmentation analysis
This market research report segments the global tractor telematics market by geographical regions (APAC, EMEA, and the Americas).
EMEA led the market in 2017 with a market share of nearly 53%. This region is expected to dominate the market through 2022, however, there will be a decrease of nearly 2% in its market share. The Americas, on the other hand, will witness the highest incremental growth over the forecast period.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TECHNOLOGY TELECOMMUNICATIONS MOBILE/WIRELESS NATURAL RESOURCES AGRICULTURE AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Technavio Research
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PUB: 11/19/2018 08:43 AM/DISC: 11/19/2018 08:43 AM