Over the last decade, the Europe agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices.Rising population and high-income growth have resulted in growing concerns of food security across the region.
Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems.With the rapid employment of smart farming solutions, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises.
The advent of innovative farm management techniques has resulted in reduced energy consumption and overall cost-effective operations owing to the more precise and resource-efficient approach of the software As a result, the smart farming industry is anticipated to progress due to the ever-growing affinity for smart farming solutions that are more convenient than the traditional methods.
The market research study offers a wide perspective of the different types of solutions and applications pertaining to the Europe smart farming market and analyzes their impact on the farming sector of the region by providing critical insights into the expected direction of the market expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report answers the following questions about the Europe smart farming market:
• 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?
The report includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry.The report also focuses on the key developments and investments made in the Europe smart farming market by the market players and by the government.
Further, the report includes an exhaustive analysis of all the leading countries in the region. Deere and Co., Trimble Inc., Hexagon Agriculture, Topcon Positioning Systems, GEA Farm Technologies, Lely, Afimilk Ltd., DeLaval, Motorleaf, Infarm, Phillips Lighting, Osram Licht AG, 365FarmNet, and AKVA Group are some of the leading players in this market.
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 Republicwith 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.
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 integration of sensing systems into farming equipment has led to the generation of large amounts of data, which provides farmers with valuable insights to promote yield growth when analyzed by the farm management software.
The agricultural machinery is aided with precise movement in the field by the incorporation of navigation systems.
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 smart farming market encompasses a wide array of solutions such as hardware systems, software, and services.Hardware systems involve a system that combines the equipment supported by the software solutions.
Additionally, these hardware systems comprise automation and control systems, sensing and navigation systems, and indoor farming equipment, among others.Software solutions consist of software apps, tools, and cloud services that are provided by the companies on a subscription basis.
The services include integration & deployment of farm equipment, maintenance & support, and other services such as consultancy and financial services. Smart farming systems have applications which cover most of the farming types including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others (forestry, orchids, etc.).
The major countries in the region that have significant share in the smart farming market are France, Italy, Spain, Netherlands, Poland, and Czech Republic. Among all the countries, Germany generated the highest revenue in 2017. The strong growth in the Germanymarket 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 Spainare 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.
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, Phillips Lighting, 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.
• The U.K.
• The Netherlands
• Czech Republic