Europe Precision Agriculture Market by Technology (Guidance System, Remote Sensing, Variable Rate Technology), by Offering (Hardware, Software, Services), by Application
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Europe Precision Agriculture Market was worth USD 0.95 billion in 2016 and is estimated to be growing at a rate of 13.7%, to reach USD 1.81 billion by 2021. Precision agriculture is a modern agricultural practice which enables farmers to get better yields with less effort and resources.
Precision farming allows farmer to know the weather forecast, humidity of soil and nutrients level in the soil which helps the farmer to decide when to provide water, nutrients and any other required resources without human efforts.
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Agricultural machines can be operated driverless or semi-automatic with the help of Global Positioning Systems with increased precision.
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By evaluating the variability of soil over a stretch of land, decision making becomes easier for crop management or rotation. Irrigation rates can be monitored and controlled so that accumulation of salts does not take place.
All this information can be accessed and can manage resources from a smart phone which offers great mobility and ease of operation.
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With the rising necessity to maximize production with available resources, increasing famines and weather patterns, advanced technologies are increasingly adopted to increase crop yield resulting in the rise in demand for precision farming. Increased food demand due to rapid growth in population and adoption of smartphones are also driving the precision farming market.
Requirement of high investments and lack of government incentives are factors inhibiting the growth of the market.
- Sensing and Monitoring Devices
- Remote Sensing
- Guidance System
- Variable Rate Technology
- Yield Monitoring
- Field Mapping
- Weather Tracking & Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Financial Management
Based on region, the Europe precision farming market is segmented into UK, Germany, Spain, France and Italy. Developed countries of Europe region are quickly adopting the advanced agricultural practices increasing the demand for precision farming.
Deere & Company (U.S.), Trimble, Inc. (U.S.), and Leica Geosystems (Switzerland), AJ Junction, Inc. (U.S.), Monsanto Company, AgSmarts Inc., CropMetrics LLC and Dickey-John Corporation are some of the major companies in the precision agriculture market.
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