Europe Precision Agriculture Market

Europe Precision Agriculture Market Size, Growth, Trends and Forecast:

Europe Precision Agriculture Market was worth USD 2.25 billion in 2021 and is estimated to be growing at a rate of 13.7%, to reach USD 4.38 billion by 2026. Precision agriculture is a modern agricultural practice which enables farmers to get better yields with less effort and resources. Precision farming allows farmer to know the weather forecast, humidity of soil and nutrients level in the soil which helps the farmer to decide when to provide water, nutrients and any other required resources without human efforts.

Agricultural machines can be operated driverless or semi-automatic with the help of Global Positioning Systems with increased precision. By evaluating the variability of soil over a stretch of land, decision making becomes easier for crop management or rotation. Irrigation rates can be monitored and controlled so that accumulation of salts does not take place. All this information can be accessed and can manage resources from a smart phone which offers great mobility and ease of operation.

Europe Precision Agriculture Market Drivers:

With the rising necessity to maximize production with available resources, increasing famines and weather patterns, advanced technologies are increasingly adopted to increase crop yield resulting in the rise in demand for precision farming. Increased food demand due to rapid growth in population and adoption of smartphones are also driving the precision farming market. Requirement of high investments and lack of government incentives are factors inhibiting the growth of the market.

Europe Precision Agriculture Market Segmentation:

Europe Precision Agriculture Market – By Technology:

• The market is divided into Guidance system

• Variable rate technology
• remote sensing on the basis of Technology

Due to the increase in the applications of GPS and GIS in agriculture, Guidance systems segment is growing at a rapid pace.

Europe Precision Agriculture Market – By Offering:

• Hardware,
  • Automation & control system
    • Display
    • Guidance & steering
    • GPS system
    • Drones
    • Mobile devices
    • flow and application control devices
  • Sensing & Monitoring devices
    • Yield Monitors
    • Soil Sensors
    • Water sensors
    • climate sensors
• Software and Services

Automation & control systems hold the largest market share due to its increased adoption in developed countries.

Europe Precision Agriculture Market – By Application:

• Weather Tracking & Forecasting
• Yield Monitoring
• Field Mapping
• Crop Scouting
• Irrigation Management
• Inventory Management
• Financial Management
• Farm Labour Management

Irrigation management is projected to grow at a rapid pace as a result of the prevailing water scarcity.

Regional Analysis:

Based on region, the Europe precision farming market is segmented into

• UK
• Germany
• Spain
• France
• Italy

Developed countries of Europe region are quickly adopting the advanced agricultural practices increasing the demand for precision farming.

Key Players:

Deere & Company (U.S.), Trimble, Inc. (U.S.), and Leica Geosystems (Switzerland), AJ Junction, Inc. (U.S.), Monsanto Company, AgSmarts Inc., CropMetrics LLC and Dickey-John Corporation are some of the major companies in the precision agriculture market.