by The global ISOBUS Terminal Market is estimated to be valued at US$ 698 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
ISOBUS is an international standard communication protocol for agricultural vehicles and implements. ISOBUS terminals allow interoperability of agricultural equipment from different original equipment manufacturers (OEMs). It enables communication between tractor, implement, and monitor by providing standard interface. ISOBUS terminals facilitate adoption of precision farming techniques by displaying real-time crop and field data on a single monitor. This helps farmers in yield monitoring, variable rate application, and other precision agricultural activities. The advanced features of ISOBUS terminals such as large screen display, compatibility with multiple implements, and easier implementation of precision farming techniques are fueling their adoption among farmers globally.
Market key trends:
One of the key trends in the ISOBUS terminal market is the integration of advanced technologies such as artificial intelligence (AI) and machine learning. AI and machine learning integrated ISOBUS terminals can analyze large amounts of filed data in real-time to provide customized insights and recommendations to farmers. This helps improve farming operations and maximize crop yields. Another major trend is the growing adoption of auto-steering systems. ISOBUS terminals with auto-steering capabilities minimize overlapping during field operation and improve efficiency. The rising focus on precision farming and connectivity of agricultural machinery is also driving innovation in ISOBUS terminals. Market players are focusing on developing terminals with enhanced precision farming features and communication capabilities to increase their use in autonomous agricultural technologies.
Porter’s Analysis
Threat of new entrants: The market size is large and growing which makes the ISOBUS Terminal Market lucrative, however, high initial investment required for R&D and component manufacturing poses a threat to new entrants.
Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitutes however brand loyalty provides some buyer lock-in.
Bargaining power of suppliers: The suppliers have moderate bargaining power due to the differentiated and customized nature of components however established manufacturers reduce supplier power.
Threat of new substitutes: Technological advancements can lead to substitute products, however, ISOBUS Terminal’s compatibility with existing installed base and superior connectivity reduce the threat.
Competitive rivalry: The presence of established manufacturers internationally intensifies competition.
Key Takeaways
The Global Isobus Terminal Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing mechanization in agriculture and demand for cloud-based farm management solutions.
Regional analysis: North America dominates the market currently due to widespread farm mechanization. Asia Pacific is expected to be the fastest growing market led by countries like India and China owing to government support for smart agriculture.
Key players operating in the ISOBUS Terminal Market are Trimble, Topcon, Raven Industries, KUBOTA, Teletrac Navman, AGCO, Aagland, Lely, AgJunction, Robert Bosch, AgLeader Technology, AgEagle, DICKEY John, CLAAS, CNH Industrial, BouMatic, Hexagon Agriculture, Farmers Edge, Autonomous Tractor Company, Deere & Company. Key players are focused on new product launches and partnerships to gain more market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
