Europe Smart Farming Market In-Depth Research from 2018-2023 | BIS Research

[mohit bisresearch]

Farm productivity across Europe has been significantly increasing since the last decade. With the exponential growth of population, subsequent rise in demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. The increase in urban population in developing countries, such as 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 production.

Read Report Overview: Europe Smart Farming Market

Limited availability of natural resources such as fresh water and arable land along with slowing yield trends in several staple crops has prompted growers and companies in the farming sector to introduce innovative and advanced smart farming techniques in order to enhance farm profitability.

Europe farming industry has witnessed numerous revolutions over decades starting from the domestication of livestock and crops to the organized use of crop rotation using new farming techniques. This was followed by the large-scale usage of fertilizers and pesticide and systematic breeding called as the green revolution. Finally, with the introduction of Information and Communication Technologies (ICT) in farming since the last decade, farming industry has been witnessing another revolutionary phase. 

The high market growth is expected to be driven by the need to apply site-specific farming and variable rate application of raw materials and resources as per the requirement of high crop yield. Besides this, the deployment of automation and control systems to steer the application of agricultural inputs has become crucial to augment the growth of the market. In emerging countries, growth is expected to be driven by rising awareness among the governments of different countries about the need to elevate farm produce while taking care of the environment. The Europe smart farming market has also been strongly motivated by the substantial support of the government in terms of investments, favorable initiatives, and trade policies.

The major countries in the region that have significant share in the smart farming market are Germany, U.K., France, Italy, Spain, Netherlands, Poland, and Czech Republic. Among all the countries, Germany generated the highest revenue in 2017. The strong growth in the Germany market was largely due to the high rate of adoption of technologies by the agricultural producers in the country. The extensive R&D activities that take place in the country and the urgent need to improve production from the decreasing number of farms, consolidation of farms, and increasing livestock herd sizes further contributed to the growth of the market in the country.

However, during the forecast period, countries such as Netherlands, Czech Republic, Poland, and Spain are projected to display the fastest market growth. These countries present immense scope for market development owing to the increasing urban population size, growing market penetration of internet in farm management, and favorable government investments.

Competitive Landscape and Key Players

The competitive landscape for the smart farming market demonstrates a trend in which companies are adopting strategies such as product launch & development and business expansions & contracts. Thus, the established players in the market are focusing on product launches and developments to introduce new technologies or to develop the existing product portfolio. Deere and Co., Trimble Inc., Hexagon Agriculture, Topcon Positioning Systems, GEA Farm Technologies, Lely, Afimilk Ltd., DeLaval, Motorleaf, Infarm, Signify Holding, Osram Licht AG, 365FarmNet, and AKVA Group are some of the prominent players in the Europe smart farming market.

The key players operating in this market have ramped up their product launch activities over the recent years in order to generate public awareness about their existing as well as new products and technologies and to compete with the competitors’ product portfolios. This has been the most widely-adopted strategy by the players in this market. For instance, in July 2017, Allflex introduced an innovative cow monitoring and intelligence system called the SenseTime. In May 2017, Osram announced the launch of Oslon Square Hyper Red LED for better plant growth with improved emission characteristics, higher optical output, and impressive corrosion resistance. Earlier in December 2016, Ag Leader Technology enhanced its AgFiniti cloud-based platform with the announcement of an Application Program Interface (API) that allows third-party farm management information systems (FMIS) to transfer files.

Get Free Sample: https://bisresearch.com/requestsample?id=552&type=download

Key Questions Answered in this Report

• What is the Europe smart farming market size in terms of revenue along with the growth rate during the forecast period 2018-2023?
• What is the revenue generated by the different smart farming solutions such as hardware systems, software, and services? 
• What are the major types of applications in the smart farming market in terms of revenue generation and future growth?
• What is the anticipated market size for different countries based on various solutions and applications during the forecast period?
• How attractive is the smart farming market for different stakeholders present in the industry as per the analysis of the complete supply chain?
• What are the major driving forces that are expected to increase the demand for smart farming during the forecast period? 
• What are the major challenges inhibiting the growth of the market?
• What are the upcoming trends and opportunities in this market?
• What are the kinds of new strategies adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the Europe smart farming market in terms of their recent developments, product offerings, and country presence?