Smart Agriculture is a farming technique that uses information technology to manage, analyse, and identify variability on a farm to increase agricultural yields while reducing human labour. Smart agriculture lets farmers estimate the exact quantity of nourishment crops require to boost output by accessing real-time data about weather, yields, and soil quality. With smart agriculture systems, farmers can use advanced automation techniques to cut labour and material expenses. Smart farming systems employ sensors and monitoring technology to assist farmers in making better decisions about water management, soil management, inventory control, and harvesting schedules. Irrigation control, water resource management, crop planting, and production monitoring are examples of smart agricultural applications. Smart agriculture will allow users to map and record agricultural output and humidity data in real-time, allowing them to quickly assess how the crop performed.
The Europe smart agriculture market is estimated to reach USD 9916 million by 2030, increasing at a CAGR of 12.02 % over the forecast period (2022–2030). After North America, Europe is predicted to be the second-largest smart agriculture market. Regional demand for the market is expected to be driven by expanding support from regional authorities in Germany, France, Italy, and the United Kingdom, as well as increased awareness among business-oriented farmers during the projection period.
The Europe smart agriculture market share has been broken down into three categories: agricultural type, offering, and geography.
The smart agriculture industry includes precision farming, smart greenhouses, animal monitoring, and other sorts of agriculture. Precision farming is expected to become the most common farming practice on the planet. Between now and 2030, it is predicted to increase at a CAGR of 9.75%, reaching USD 15,661 million. The rise of precision farming can be ascribed to a growing focus on on-farm efficiency and production. Precision farming technology has the potential to revolutionise agriculture by improving the efficiency and reliability of traditional farming methods.
The smart agricultural sector has been classified into three groups based on product offerings: hardware, software, and services. With an anticipated value of USD 22,211 million by 2030, the hardware offering sector is expected to lead the European market, growing at a 9.45% CAGR over the forecast period.
The market for milking robots is predicted to grow as the dairy industry's raw material production and product manufacture becomes more digitalized. Milk quality and animal welfare have both improved as a result of automation technologies. The dairy and food processing industries are projected to profit from the growing drive to cut labour costs and improve productivity. Demand for milking robots is being driven by animal welfare, better herd management, cow health, and increased milk frequency.
In Europe smart agriculture market is expected to reach USD 9916 million by 2030, growing at a CAGR of 12.02% from 2022 to 2030. Europe is expected to be the second-largest smart agricultural market after North America. Increasing assistance from regional authorities in Germany, France, Italy, and the United Kingdom, as well as improved awareness among business-oriented farmers, are likely to drive regional demand for the market during the projection period.
Germany, the United Kingdom, France, Italy, Spain, the Netherlands, Poland, and the Czech Republic are the primary countries in the region with a large portion of the smart farming market. Germany brought in the most money out of all the countries. The tremendous expansion in the German market was partly attributable to the country's agricultural producers' rapid adoption of new technologies. The country's considerable R&D operations, as well as the urgent need to boost productivity due to the declining number of farms, farm consolidation, and increasing animal herd sizes, all contributed to the market's rise.
Countries such as the Netherlands, Czech Republic, Poland, and Spain, on the other hand, are expected to have the quickest market growth during the forecast period. As the growing urban population, the growing market penetration of internet in farm management, and favorable government investments, these countries have a lot of room for market development.
Increased urbanization in countries like Poland and the Czech Republic, as well as improved quality of life due to high-income levels and increased demand for fresh crop produce and animal feed, are driving up crop protection demand. Other factors include the scarcity of natural resources such as fresh water and arable land, as well as declining crop productivity patterns. As a result, prominent agricultural corporations have been encouraged to implement new farming practises into the agricultural sector in order to increase farm output.
Some of the major players in the European Region (having significant market shares) are listed below:
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