Europe Smart Agriculture Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

In Europe agricultural land plays an important role in land use pattern across the region. The agriculture sector provides livelihoods to almost 10.5 million farmers across the region. The Agriculture sector occupies more than 40% of the region’s landmass and is known to be the largest agricultural food exporter in world. The major crops produced in Europe include wheat, potatoes and rapeseed. In livestock such as sheep and cattle are the import source of meat and dairy and the region is also known for producing world’s finest cheeses. In last few years the European farmers have been a significant growth in farm productivity across the region. The increase in urban population in countries like Poland and Czech Republic, with the enhancement of quality of living due to high income levels and the demand for fresh crop produce and animal protein are boosting the demand for crop protection. Few other reasons like the limited availability of natural resources fresh water and arable land with slowing yield trends in crops. This has been encouraging the leading agricultural companies to introduce advanced farming techniques in the agricultural sector, for enhancing the farms productivity. According to the report published by Actual Market Research titled as “Europe Smart Agriculture Market Outlook, 2027”. Europe is anticipated to grow rapidly with CAGR 12.04% by the forecast period. The major countries like Russia, Germany, France, UK, Spain and Italy, are countries having a significant share in the smart agriculture market. Among these Russia has the highest CAGR in the market. The strong growth in the Russia’s market was largely due to the high rate of adoption of technologies by the agricultural producers in the country. The urgent need to improve production from the decreasing number of farms and increasing livestock herd sizes further contributed to the growth of the market in the country. As per research, the further market growth of smart agriculture in Europe is expected to be driven by the rising awareness among the governments of the major countries about the need to elevate farm produce while maintaining the environment. The region’s smart agriculture market is also been strongly motivated by the substantial support of the government in terms of investments, favorable initiatives, and trade policies. The governments are also currently working on reducing the costs of the devices used in smart agriculture. Europe smart agriculture market is majorly segmented into five types including Precision agriculture, precision aquaculture, smart greenhouse, precision livestock monitoring and precision forestry. Among these types, precision agriculture segment is anticipated to acquire higher market share by holding more than 45% during the forecast period. Recently, European Commission has identified precision farming as a possible agricultural practice that eco-schemes could support in the post-2022 Common Agricultural Policy. Due to globalization of the world economy, European countries face the low cost of production of other low-income countries. In addition to that, Europe tries to evolve its agriculture domain using technology, aiming at the sustainability of its agriculture sector especially in a scientific area of smart farming. The Covid-19 effect on Europe smart agriculture market: During the pandemic, the Europe supply chain demonstrated a high degree of resilience. The value share of the agriculture industry in Europe has been declined by 1.4% in 2020 compared to 2019. Initial challenges for the region during the outbreak included increased food demand due to consumer panic buying; labor shortages caused by movement regulations as well as slow-down in food production because of virus outbreaks in processing plants. However, staying at home and low labor force has increased demand for automatic technologies for farming. By the end of 2020, the market growth for smart agriculture in Europe was estimated to be growing with significant growth. Major Companies present in the market: Raven Industries, Inc, Merck & Co., Inc, Deere & Company, AgJunction Inc., Trimble Inc., Topcon Positioning Systems, Inc., AGCO Corporation, AG Leader Technology, Afimilk Limited, InnovaSea Systems, Inc., Abaco Systems, Inc., GEA Group Aktiengesellschaft (GeaCowScout), Grownetics, Inc., Heliospectra AB, Nedap N.V. Inc, Gamaya SA, Ceres Imaging, Inc, AKVA group, CropX Technologies Considered in this report • Geography: Europe • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Europe Smart Agriculture Market with its value and forecast along with its segments • Country wise smart agriculture market analysis • Application wise smart agriculture distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report • Germany • United Kingdom • France • Italy • Spain • Russia Types of smart agriculture in the report: • Precision Agriculture • Aquaculture/Precision Fish Farming • Smart Greenhouse Market • Precision Livestock Monitoring Market • Precision Forestry Market By Offering Type in the report: • Hardware • Software • Services The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.