Advanced Farm Equipment and Machinery
- The Indian agricultural machinery market was valued at INR 498.04 Bn in 2018 and is expected to reach INR 901.41 Bn by 2024, expanding at a CAGR of ~10.70% during the 2019-2024 period.
- The accessibility, and quality of agricultural machinery positively impacts productivity and output of the farming sector.
- The Indian machinery market is expected to introduce Self-Driving Autonomous Tractors, and increase application of innovative technology like Internet of Things (IoT) and Big Data to make agriculture a profitable profession for farmers.
- The adoption of the sharing economy model and tech-driven start-ups is expected to revolutionize the agriculture machinery market in India.
