Market Overview

The Smart Farming Market in Europe - $7.2 Billion Forecast by 2023: Focus on Solutions & Applications - ResearchAndMarkets.com

Share:

The "Europe
Smart Farming Market: Focus on Solutions (Hardware Systems, Software,
Services) and Applications (Precision Crop Farming, Livestock Monitoring
and Management, Indoor Farming and Aquaculture) - Analysis and Forecast
2018-2023"
report has been added to ResearchAndMarkets.com's
offering.

Europe Smart Farming Market Anticipated to Reach $7.2 billion by 2023

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.

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.

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 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.

Key Highlights

  • 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.

Market Dynamics

Drivers

  • Increasing Farm Consolidation
  • Growing Market Penetration of Information & Communication Technologies
    in Farming
  • Rising Need for Climate Smart Farming
  • Increasing Dairy Farm Size

Restraints

  • High Initial Investment
  • Lack of Awareness & Infrastructure in Emerging Economies

Opportunities

  • Increasing Market Opportunities in Developing Countries
  • Increased Cloud Security
  • Impact of 3D Printing on Farming
  • Securing the Agriculture Value Chain with Blockchain
  • Data Management with Big Data

Key Topics Covered

Executive Summary

1 Market Dynamics

2 Competitive Landscape

3 Industry Analysis

4 Europe Smart Farming Market (by Solution)

5 Europe Smart Farming Market (by Application)

6 Europe Smart Farming Market (by Country)

7 Company Profiles

  • AGCO Corporation
  • CNH Industrial
  • Deere and Company
  • Hexagon Agriculture
  • Topcon Positioning Systems
  • Trimble Inc.
  • Dairymaster
  • DeLaval
  • Fullwood Ltd.
  • Lely S.a.r.l
  • Osram Licht AG
  • Philips Lighting
  • Evergreen Farm OY
  • AKVA Group ASA
  • Integrated Information Systems S.A.

For more information about this report visit https://www.researchandmarkets.com/research/w8xxj3/the_smart_farming?w=4

View Comments and Join the Discussion!