ISOBUS terminals serve as the basic hardware component enabling precision agriculture applications by facilitating communication and data exchange between farm equipment, mobile devices and software. They allow implements such as tractors, harvesters, sprayers and irrigation systems to share task-related data and offer centralized monitorization of various field operations. ISOBUS terminals standardized agricultural machinery user interface across brands and enabled wireless connectivity for precision farming activities.
The global ISOBUS terminal market is estimated to be valued at US$ 698 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the ISOBUS terminal market is the growing adoption of automation and control systems in agricultural machinery. Advanced automation solutions based on ISOBUS standard are being integrated across major farm equipment to optimize agricultural outputs. For example, auto-steering systems assist drivers in following programmed cultivation and harvesting paths with high accuracy. Variable rate technology permits machines to automatically alter application of inputs like seeds, fertilizers or pesticides based on spatial data. This boosts farm productivity and minimizes production costs. Furthermore, integration of IoT and cloud computing is another prominent trend. Modern ISOBUS terminals support wireless data transfer to cloud for remote monitorization and fleet management. Cloud-based platforms offer analytical insights to farmers for optimizing field operations. Their use helps improve farm management and decision making.
Threat of new entrants: The threat of new entrants in the ISOBUS Terminal market is moderate. Established players dominate the market with strong brand recognition and distribution network. However, low initial investment and technology availability allows new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is high. Large agriculture equipment manufacturers exert pressure on prices. Buyers can easily switch between ISOBUS Terminal providers based on price and service.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of ISOBUS components have established relationships with manufacturers. However, the threat of forward integration by manufacturers limits the supplier power.
Threat of new substitutes: The threat of substitutes is low. No direct substitutes are available for ISOBUS connectivity in modern agriculture vehicles and machinery.
Competitive rivalry: The competitive rivalry is high. Frinsa, Thai Union Group PCL, Century Pacific Food Inc., Bumble Bee Foods, LLC, Jealsa, Grupo Calvo, PT. Aneka Tuna Indonesia, American Tuna, The Jim Pattison Group, Bolton Group, Dongwon Group intensely compete based on product features and pricing.
The Global ISOBUS Terminal Market Size is expected to witness high growth during the forecast period. The global ISOBUS terminal market is estimated to be valued at US$ 698 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.
Regional analysis: The Asia Pacific region is expected to grow at the fastest rate during the forecast period. Developing economies in the region are witnessing rapid growth in agriculture production and machinery. Government initiatives to promote mechanization and availability of low-cost labor also support the market growth.
Key players: Key players operating in the ISOBUS Terminal market are Frinsa, Thai Union Group PCL, Century Pacific Food Inc., Bumble Bee Foods, LLC, Jealsa, Grupo Calvo, PT. Aneka Tuna Indonesia, American Tuna, The Jim Pattison Group, Bolton Group, Dongwon Group. These players are focusing on new product launches and mergers & acquisitions to gain market share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it