Global ISOBUS Component Market Size to worth USD 1691.0 Million by 2033: Forecast Analysis Report

Global ISOBUS Component Market Size to worth USD 1691.0 Million by 2033                    

According to a research report published by Spherical Insights & Consulting, The Global ISOBUS Component Market Size is Expected to Grow from USD 784.01 Million in 2023 to USD 1691.0 Million by 2033, at a CAGR of 7.99% during the forecast period 2023-2033.

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global ISOBUS Component Market Size, Share, and COVID-19 Impact Analysis, By Product (Hardware and Software), By Application (Tractors, Planters & Seeders, Harvesters, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.       
  

A standardized communication system called ISOBUS is utilized by agricultural machinery and equipment. Using a single common language, the ISO 11783 standard allows various agricultural equipment, including tractors and implements (such as seeders and sprayers), to communicate with one another. ISOBUS is a standardized communication protocol used in agriculture and forestry to connect and control machinery and equipment. It enables seamless communication between components, automates tasks, and collects and analyzes data for informed decision-making. As it improves productivity, reduces costs, and optimizes resource use, demand for ISOBUS components is increasing globally. The ISOBUS component market is driven by the increasing adoption of precision farming techniques, which use technology to optimize crop production by managing inputs efficiently. ISOBUS components enable communication and control of agricultural machinery, allowing GPS guidance systems for greater accuracy and variable rate application technology for improved crop quality. Increasingly, governments worldwide are endorsing the implementation of ISOBUS components to advance sustainable agriculture. For instance, to increase productivity and lessen its impact on the environment, the European Union has been supporting initiatives that incorporate ISOBUS technology into farming methods. However, ISOBUS-compatible farming equipment requires expensive purchases like tractors, tools, and seed drills, which may pose a significant challenge for small-scale farmers or those with limited funding.

The hardware segment is predicted to hold the highest market share through the forecast period.

Based on the product, the ISOBUS component market is classified into hardware and software. Among these, the hardware segment is predicted to hold the highest market share through the forecast period. The global ISOBUS component market is expected to be dominated by software products due to digitization and remote access in the agricultural sector. Mobile applications enable control over activities like fleet management and crop protection, while virtual terminals simplify multiple equipment control.

The tractor segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the application, the ISOBUS component market is divided into tractors, planters & seeders, harvesters, and others. Among these, the tractor segment is anticipated to hold the greatest market share during the projected timeframe. The ISOBUS tractor offers a number of tools and parts. The operator can operate connected equipment by mounting the virtual terminal on the tractor. This frees up more room in the tractor cabin by eliminating the need for a separate equipment control box.

North America is estimated to hold the largest share of the ISOBUS component market over the forecast period.

North America is estimated to hold the largest share of the ISOBUS component market over the forecast period. North America's agricultural industry is a major market for ISOBUS standards, driven by growth and developments in seed improvement. ISOBUS-compliant equipment has expanded, leading to increased communication between manufacturers and increased synergistic partnerships. This has broadened the region's agricultural equipment portfolio.

Europe is predicted to have the fastest CAGR growth in the ISOBUS component market over the forecast period. Agriculture in Europe has evolved to meet environmental demands and meet rising production demands. Technological advancements like agricultural robots, variable rate technology, and ISOBUS equipment have reduced resource wastage and increased productivity. Farmers in Europe are adopting these technologies to make their operations profitable.

Company Profiling

Major key players in the ISOBUS component market include 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, and Others.   

Recent Development

• In March 2023, AGTEK Development Corporation, a Hexagon company, announced the launch of its stand-alone applications Materials SA and Underground SA as well as the 2023 version of the Gradework software suite. For earthmoving, utility installation, and construction supply use, the extra functions would simplify takeoff and production control.

• In March 2023, Hexagon's Manufacturing Intelligence group and Altium collaborated to promote more ecologically friendly electrical design and manufacturing. The collaboration brought together Hexagon's proficiency in combining data from design and engineering, manufacturing, and metrology with Altium's proficiency in PCB design and electronics supply chain intelligence to assist companies in comprehending how decisions about product development affect the sustainability of electronics and smart devices.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the ISOBUS component market based on the below-mentioned segments:

Global ISOBUS Component Market, By Product 

• Hardware
• Software

Global ISOBUS Component Market, By Application

• Tractors
• Planters & Seeders
• Harvesters
• Others

Global ISOBUS Component Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa