What are the new robot tractor and other growth factors of Deere & Company?
Manufacturer of agricultural, construction, and utility equipment Deere & The company (DE) has been investing a lot in technologies using elements of artificial intelligence and machine learning in recent years. As a result, the company creates innovative products that can demand-supply chain disruption and labor shortage conditions.
Support Deere revenue growth & The company by the growing demand for its Precision Ag software, which farmers use for planning, navigation, documentation, analysis, and monitoring to optimize operations. The company expects Precision Ag sales to grow by 20-25% in 2022. Deere & The company has introduced a new autonomous tractor, ready for large-scale production at the beginning of the year.
The tractor with a 360-degree obstacle detection function with precise navigation can be easily controlled and tracked using an application installed on a mobile device. The novelty will be on sale this year. It will provide Deere & The company with a competitive advantage, as it will be the only such serial transport with severe technical support from a global brand.
As part of its Deere Startup Collaborator Program 2022, the company also brings together seven young companies working with Deere & The company is working on developing solutions to expand the capabilities of automated farming. The program includes Burro and Four Growers, which specialize in robotic platforms that lay the foundation for automating harvesting and labor-intensive agricultural tasks, as well as service and View AR, which specializes in image recognition and augmented reality systems.
Thus, Deere & The company, thanks to its program, receives valuable knowledge and developments that help shape the future landscape of agriculture. In addition, Deere & Company strengthens relationships with companies that can develop the next revolutionary solution. In the long term, leadership in advanced technologies against the background of a shortage of personnel and disruption of supply chains can become a driver of a new stage of revenue growth.
Note that in the last reporting quarter, Deere & The company demonstrated revenue growth of 16% year-on-year the whole year was 24%. This trend to continue in 2022, as high demand, which led to revenue growth in 2021, will continue throughout the current year. Again, advanced technologies can play a leading role in this.
