ISOBUS TERMINAL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

ISOBUS Terminal Market Size and Trends

The global ISOBUS Terminal market size is estimated to be valued at US$ 770.7 Million in 2024 and is expected to reach US$ 1,593.7 Million by 2031, growing at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.

ISOBUS Terminal Market Trends:

• Consolidation through Mergers and Acquisitions: The ISOBUS terminal market has witnessed increasing consolidation over the past few years as large agriculture technology players acquire smaller niche companies to gain technical expertise and expand their product portfolios. For instance, acquisitions like Trimble’s takeover of HarvestMark and Hexagon’s purchase of VTEC Software have allowed companies to incorporate new capabilities into their terminals related to farm workflow management, SCADA, etc. The trend of consolidation is likely to intensify as companies aim to provide end-to-end platforms and maximize value for farmers. This will increase the dominance of top players but also streamline innovation for ISOBUS terminals through synergies across merged entities. According to data released by the Indian Brand Equity Foundation (IBEF) in 2022, India’s electronic hardware production is expected to reach US$ 120 billion by 2025 aided by the ‘Production Linked Incentive’ scheme of the government.
• Transition to Virtual Terminals: The shift towards virtual terminals is having a profound impact on the ISOBUS terminal market. Traditionally, ISOBUS terminals have been hardware devices that are physically mounted in agricultural vehicles to allow communication and control of implements and machinery. However, there is a growing trend of equipment manufacturers developing software-based virtual terminals that can be accessed via the in-cab touchscreen or a mobile device. This provides more flexibility and reduces costs compared to physical terminals. Farmers now have the option to control their implements from inside the cab or even remotely, making operations more efficient. Farmers in Canada struggled to get new planters fitted with physical terminals in 2020, and many had to use virtual terminals on their tablet devices as an alternative (Government of Canada COVID-19 Impact Survey, 2021). This highlighted the reliability of virtual platforms.