The Smart Farming Market in Europe - $7.2 Billion Forecast by 2023: Focus on Solutions & Applications - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 29, 2018--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 HighlightsFor 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.
DriversIncreasing Farm Consolidation Growing Market Penetration of Information & Communication Technologies in Farming Rising Need for Climate Smart Farming Increasing Dairy Farm Size
RestraintsHigh Initial Investment Lack of Awareness & Infrastructure in Emerging Economies
OpportunitiesIncreasing 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
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 ProfilesAGCO 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.
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NATURAL RESOURCES AGRICULTURE
SOURCE: Research and Markets
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PUB: 08/29/2018 08:25 AM/DISC: 08/29/2018 08:25 AM