Europe Precision Farming Market Forecast to 2031 - Regional Analysis - by Offering (Hardware, Software, and Services) and Application (Yield Monitoring, Crop Scouting, Field Mapping, Inventory Management, Weather Tracking and Forecasting, and Others)

List of Tables

The Europe precision farming market was valued at US$ 2,652.97 million in 2023 and is expected to reach US$ 6,776.43 million by 2031; it is estimated to register a CAGR of 12.4% from 2023 to 2031.

Rising Government Support for Modernizing Agricultural Practices boosts Europe Precision Farming Market

Governments of various countries are taking initiatives to modernize agricultural practices such as precision farming. For instance, the European Commission's new Common Agricultural Policy (CAP) introduced eco-schemes to incentivize farmers to adopt more environmentally conscious and climate-friendly practices. CAP is responsible for the shift to a sustainable food system and assists European farmers during this process of shifting. Thus, rising government support and schemes for modernizing agricultural practices fuel the precision farming market growth.

Europe Precision Farming Market Overview

The Europe precision farming market exhibits significant partnerships, with major industry participants such as Deere & Company, Bayer Crop Science, Trimble Inc., Agco Corporation, and Granular Inc. actively engaged in research and development, product introductions, advancements, and collaborative ventures. Notably, Agco Corporation introduced the WR Series windrower in February 2022, delivering a 10% enhancement in overall efficiency compared to prior models, thereby optimizing hay production and quality. Precision farming methodologies, encompassing digital agriculture, are recognized as pivotal in advancing the EU's strategic objectives of sustainability, intelligence, and safety. It is advised that precision farming be integrated into the National Recovery and Resilience Plans of all member states, aligning with the EU's sustainability targets. Furthermore, the Scientific Foresight Study released by the European Parliament underscores that precision farming techniques can yield a 20-30% reduction in pesticide usage and a 50-80% decrease in the area requiring pesticide application. Thus, all these factors are expected to boost the Europe precision farming market growth.

Europe Precision Farming Market Revenue and Forecast to 2031 (US$ Million)

Europe Precision Farming Market Segmentation

The Europe precision farming market is categorized into offering, application, and country.

By offering, the Europe precision farming market is segmented into hardware, software, and services. The hardware segment held the largest share of the Europe precision farming market share in 2023.

In application, the Europe precision farming market is segmented into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and others. The yield monitoring segment held the largest share of the Europe precision farming market share in 2023.

Based on country, the Europe precision farming market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK segment held the largest share of Europe precision farming market in 2023.

Ag Leader Technology, AGCO Corp, CNH Industrial NV, CropX Inc, Deere & Co, TeeJet Technologies, Topcon Corp, and Trimble Inc are some of the leading companies operating in the Europe precision farming market.

Product Code: BMIRE00031393

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Europe Precision Farming Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 Raw Material Providers
- 4.2.2 Precision Farming Service Providers
- 4.2.3 Precision Farming Hardware and Software Providers
- 4.2.4 End Users
- 4.2.5 List of Vendors in the Value Chain

5. Europe Precision Farming Market - Key Market Dynamics

5.1 Europe Precision Farming Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Increasing Reliance on Smartphones
- 5.2.2 Surging Global Population and Food Demand
- 5.2.3 Rising Government Support for Modernizing Agricultural Practices
5.3 Market Restraints
- 5.3.1 Data Privacy and Security Concerns
- 5.3.2 Unstable Internet Connectivity and Poor Transport Infrastructure
5.4 Market Opportunities
- 5.4.1 Growing Demand for Agricultural Robots
- 5.4.2 Rapid Adoption of Advanced Analytics and IoT
5.5 Future Trends
- 5.5.1 Advanced Precision Farming Techniques
5.6 Impact of Drivers and Restraints:

6. Precision Farming Market - Europe Market Analysis

6.1 Europe Precision Farming Market Revenue (US$ Million), 2021-2031
6.2 Europe Precision Farming Market Forecast Analysis

7. Europe Precision Farming Market Analysis - by Offering

7.1 Hardware
- 7.1.1 Overview
- 7.1.2 Hardware: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Software
- 7.2.1 Overview
- 7.2.2 Software: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Services
- 7.3.1 Overview
- 7.3.2 Services: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)

8. Europe Precision Farming Market Analysis - by Application

8.1 Yield Monitoring
- 8.1.1 Overview
- 8.1.2 Yield Monitoring: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Field Mapping
- 8.2.1 Overview
- 8.2.2 Field Mapping: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Crop Scouting
- 8.3.1 Overview
- 8.3.2 Crop Scouting: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Inventory Management
- 8.4.1 Overview
- 8.4.2 Inventory Management: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Weather Tracking and Forecasting
- 8.5.1 Overview
- 8.5.2 Weather Tracking and Forecasting: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Europe Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)

9. Europe Precision Farming Market - Country Analysis

9.1 Europe
- 9.1.1 Europe Precision Farming Market Overview
- 9.1.2 Europe Precision Farming Market - Revenue and Forecast Analysis - by Country
  - 9.1.2.1 Europe: Precision Farming Market - Revenue and Forecast Analysis - by Country
  - 9.1.2.2 France: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.2.1 France: Precision Farming Market Breakdown, by Offering
    - 9.1.2.2.2 France: Precision Farming Market Breakdown, by Application
  - 9.1.2.3 Germany: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.3.1 Germany: Precision Farming Market Breakdown, by Offering
    - 9.1.2.3.2 Germany: Precision Farming Market Breakdown, by Application
  - 9.1.2.4 United Kingdom: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.4.1 United Kingdom: Precision Farming Market Breakdown, by Offering
    - 9.1.2.4.2 United Kingdom: Precision Farming Market Breakdown, by Application
  - 9.1.2.5 Italy: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.5.1 Italy: Precision Farming Market Breakdown, by Offering
    - 9.1.2.5.2 Italy: Precision Farming Market Breakdown, by Application
  - 9.1.2.6 Russia: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.6.1 Russia: Precision Farming Market Breakdown, by Offering
    - 9.1.2.6.2 Russia: Precision Farming Market Breakdown, by Application
  - 9.1.2.7 Rest of Europe: Precision Farming Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.7.1 Rest of Europe: Precision Farming Market Breakdown, by Offering
    - 9.1.2.7.2 Rest of Europe: Precision Farming Market Breakdown, by Application

10. Competitive Landscape

10.1 Company Positioning & Concentration
10.2 Heat Map Analysis by Key Players

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions

12. Company Profiles

12.1 Ag Leader Technology
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 CropX Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 AGCO Corp
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Trimble Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Deere & Co
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 CNH Industrial NV
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Topcon Corp
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 TeeJet(R) Technologies
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners