Europe Precision Farming Market Report 2022: Investments in Driverless Vehicles, Guidance Systems and GPS Drive Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Dec 6, 2022--

The "Europe Precision Farming Market Size, Share & Industry Trends Analysis Report By Technology, By Offering, By Application, By Country and Growth Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Europe Precision Farming Market is expected to witness market growth of 6.8% CAGR during the forecast period (2021 2027).

Rising investments in technology like driverless tractors, guidance systems, and GPS sensing systems is expected to drive the growth of the precision farming market. Many sensors, including soil sensors, climate sensors, and water sensors, are set across the fields to assist farmers in monitoring their crops and obtaining real-time data. In addition, the sensors help farmers achieve higher yields with reduced crop waste. Agriculture, pharmaceutical and healthcare, automotive, and sports are just a few of the applications for these sensors.

Farmers' use of advanced analytics and the expansion of the Internet of Things (IoT) are both contributing to the growth. Advanced analytics is a branch of data science that employs a variety of tools and techniques to forecast data and guarantee that the crop and soil are properly cared for. As a result of this information, farmers may better plan their efforts. Better education and training for farmers, easily accessible information, financial resources, and high demand for organic food are all factors that help farmers implement sustainable precision farming methods.

Guidance systems and variable rate technologies are being used by medium-sized grain producers in the United Kingdom to accommodate rising demand from plant-based and vegan diet customers. In addition, Farmers are rapidly adopting the latest technologies due to the increased adoption of cellphones and the internet. Precision farming has made it possible for them to plan and execute numerous agricultural operations more efficiently by incorporating linked technologies like low power wide area (LPWA), Zigbee, Wi-Fi, and new wireless sensor technologies.

Several government efforts have been launched around the world to encourage the adoption of advanced agricultural techniques in order to increase crop production and productivity. The European Union, for example, has created financial incentives and support schemes under the new European Common Agricultural Policy to encourage farmers to invest in a variety of precision farming equipment.

The Germany market dominated the Europe Precision Farming Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $700.6 million by 2027. The UK market is poised to grow at a CAGR of 5.9% during (2021 - 2027). Additionally, The France market is expected to showcase a CAGR of 7.6% during (2021 - 2027).

Scope of the Study

Market Segments Covered in the Report:

By Technology

• Guidance Technology
• Remote Sensing Technology
• Variable Rate Technology

By Offering

• Hardware
• Automation & Control Systems
• Sensing & Monitoring Devices
• Software
• Local/Web-based
• Cloud-based
• Services

By Application

• Yield Monitoring
• Field Mapping
• Weather Tracking & Forecasting
• Variable Rate Application
• Crop Scouting
• Inventory Management
• Farm Labor Management
• Financial Management
• Others

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Key Market Players

List of Companies Profiled in the Report:

• Trimble, Inc.
• CNH Industrial N.V.
• AgEagle Aerial Systems, Inc.
• Topcon Corporation (Topcon Positioning Systems, Inc.)
• Hexagon AB (Hexagon Agriculture)
• CropX, Inc.
• CropIn Technology Solutions Private Limited
• Telus International, Inc.
• Deere & Company
• AGCO Corporation

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Competition Analysis - Global

Chapter 4. Europe Precision Farming Market by Technology

Chapter 5. Europe Precision Farming Market by Offering

Chapter 6. Europe Precision Farming Market by Application

Chapter 7. Europe Precision Farming Market by Country

Chapter 8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/opepuy

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KEYWORD: FRANCE UNITED KINGDOM RUSSIA SPAIN ITALY EUROPE GERMANY

INDUSTRY KEYWORD: TECHNOLOGY AUTOMOTIVE AGRICULTURE NATURAL RESOURCES OTHER TRANSPORT IOT (INTERNET OF THINGS) TRANSPORT SATELLITE OTHER TECHNOLOGY TELECOMMUNICATIONS SOFTWARE INTERNET MOBILE/WIRELESS HARDWARE EV/ELECTRIC VEHICLES AUTONOMOUS DRIVING/VEHICLES DATA MANAGEMENT

SOURCE: Research and Markets

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