Global ISOBUS Component Market Analysis and Forecast, 2020-2026 - Increase in Synergistic Partnerships between Agricultural Equipment Manufacturers - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global ISOBUS Component Market: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2020-2026" report has been added to ResearchAndMarkets.com's offering.

The global ISOBUS component market is expected to reach $976.71 million by 2026, with a CAGR of 8.91% during the forecast period 2021- 2026.

High growth in the market is expected to be driven by the need to resolve the inter-implement incompatibility issues existing between equipment manufactured by different companies. ISOBUS also allows for the inclusion of a virtual terminal (VT), which further allows the operator to control multiple implements simultaneously, manufactured by different companies.

Market Segmentation

ISOBUS Component Market by Application

This segment emphasizes the growth that each application area holds for the product during the forecast period. The application segment is categorized into Tractors, Planting and Seeding, Harvesting, and Others. For instance, tractors are one of the major application areas for the ISOBUS standard and are expected to remain the same by 2026. This is because the tractor is the primary equipment in the field, and other implements, such as sprayers and harvester, are connected with a tractor and then used in the field. With ISOBUS compliance, any ISOBUS tractor can be connected with any other ISOBUS implement and used in the field.

ISOBUS Component Market by Product

The segment gives a brief overview of the product portfolio of different companies and the market presence of different products existing in the market. The product segment is categorized under hardware and software. The electronic control unit (ECU) component witnessed high demand as compared to other components as all key applications of ISOBUS in the agricultural industry (such as harvesters and tractors) use ISOBUS-enabled ECUs for their functioning.

For instance, in June 2020, Farmers Edge launched FarmCommand, a universal terminal that would assist growers, equipment dealers, and retail service providers to lower costs, reduce risks, and gain efficiencies in farming operations. With the FarmCommand universal terminal, the tractor cabin would remain free from clutter, and the terminal could be seamlessly connected to all ISOBUS enabled monitors.

ISOBUS Component Market by Region

The ISOBUS component market is segmented into regions including North America, South America, Europe, China, U.K., Middle East and Africa, and Asia-Pacific. North America generated the highest revenue of $130.47 million in 2020, attributed to the presence of leading ISOBUS-enabled agricultural implement manufacturers along with continuous government initiatives in the region to promote the deployment of ISOBUS equipment in the field.

France is one of Europe's biggest agricultural producers, accounting for about 30% of Europe's agricultural production. As a result, it gets enormous subsidies for agriculture, including animal farming, from the government. France has proved to be a major market for ISOBUS in the world, with the government in the country working for the growth of the agricultural industry. Also, the presence of agricultural implement manufacturers in the country helps the farmers choose the correct implement for their needs.

Key Market Players and Competition Synopsis

The key players operating in the market include AMAZONEN-WERKE H. DREYER SE & Co. KG, Anedo GmbH, CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, DEUTZ-FAHR, Fendt, Hexagon Agriculture, Krone NA, Inc., Kuhn Group, Kvaser, Kverneland Group, LEMKEN GmbH & Co. KG, Massey Ferguson, POTTINGER Landtechnik GmbH

The companies that are profiled in the report have been selected based on a selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small & emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the ISOBUS Component industry.

Key Topics Covered:

1 Markets

1.1 Industry Outlook

1.1.1 Market Definition

1.1.2 Supply Chain Analysis

1.1.3 Government Initiatives Landscape

1.1.4 Industry Attractiveness

1.1.5 Consortiums and Associations

1.1.6 Patent Analysis

1.2 Business Dynamics

1.2.1 Business Drivers

1.2.1.1 Need for Standardized Communication between Agricultural Equipment

1.2.1.2 Increase in Synergistic Partnerships between Agricultural Equipment Manufacturers

1.2.1.3 Need for Increased Production to Cater to the Growing Population

1.2.2 Business Challenges

1.2.2.1 Incompatibility Issues between Different Devices

1.2.2.2 High Initial Investment for Complete ISOBUS System

1.2.3 Business Strategies

1.2.3.1 Product Development

1.2.3.2 Market Development

1.2.4 Corporate Strategies

1.2.4.1 Mergers and Acquisitions

1.2.4.2 Partnerships, Collaborations, and Joint Ventures

1.2.4.3 Others

1.2.5 Business Opportunities

1.2.5.1 Increased Emphasis on Smart Farming

1.2.5.2 Increased Emphasis on Sustainable Development

1.2.6 Impact of COVID-19 on the Global ISOBUS Component Market

2 Application

2.1 Global ISOBUS Component Market (by Application)

2.1.1 Tractor

2.1.2 Planter and Seeder

2.1.3 Harvester

2.1.4 Others

2.2 Demand Analysis of the Global ISOBUS Component Market (by Application)

3 Products

3.1 Global ISOBUS Component Market (by Product)

3.1.1 Global ISOBUS Component Market (by Hardware)

3.1.1.1 Electronic Control Unit (ECU)

3.1.1.2 Universal Terminal

3.1.1.3 Cables and Connectors

3.1.1.4 Others

3.1.2 Global ISOBUS Component Market (by Software)

3.1.2.1 Virtual Terminal

3.1.2.2 Task Controller

3.1.2.3 Mobile Application

3.1.2.4 Others

3.2 Demand Analysis of the Global ISOBUS Component Market (by Product)

4 Region

4.1 Market

4.1.1 Key Manufacturers

4.1.2 Business Drivers

4.1.3 Business Challenges

4.2 Application

4.2.1 ISOBUS Component Market (by Application)

4.3 Product

4.3.1 ISOBUS Component Market (by Product)

5 Markets - Competitive Benchmarking & Company Profiles

5.1 Competitive Benchmarking

5.2 Company Profiles

• AMAZONEN-WERKE H. DREYER SE & Co. KG
• Anedo GmbH
• CLAAS KGaA mbH
• CNH Industrial N.V.
• Deere & Company
• DEUTZ-FAHR
• Fendt
• Hexagon Agriculture
• Krone NA, Inc.
• Kuhn Group
• Kvaser
• Kverneland Group
• LEMKEN GmbH & Co. KG
• Massey Ferguson
• POTTINGER Landtechnik GmbH

For more information about this report visit https://www.researchandmarkets.com/r/q9m7zm