Europe Precision Agriculture Market Expected to Reach $4.36 Billion by 2027 – BIS Research

Dec 27, 2023 8:00 PM ET

In Europe, precision agriculture employs modern techniques and information technology to precisely provide nutrients to soils and plants, aiming for optimal health, productivity, and the key goals of environmental protection, sustainability, and profitability.

The Europe precision agriculture market (excluding U.K.) was valued at $2,476.5 million in 2022 and is expected to reach $4,367.4 million by 2027, following a CAGR of 12.02% during 2022-2027.

The global precision agriculture market is expected to grow as increased demand for higher crop yields and greater investments in climate-smart agricultural methods become prominent factors driving its expansion.

Market Analysis: Trends, Data, and Growth Projections

BIS Research, a leading market research firm, has released a report titled the Europe precision agriculture market which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the precision agriculture market.

The Europe Precision Agriculture market report focuses on several segments such as, application, product, function, farm produce, technology, country, etc.

The precision agriculture industry, referred to as demand farming, satellite farming, and site-specific crop management (SSCM), relies on advanced machinery, IT services, and software. In Europe, the adoption of precision agriculture technologies has increased agricultural output and aligned with sustainable development objectives.

Key Players and Market Shares

Some major companies operating in the global report title are:

CLAAS Group
CNH Industrial N.V.
Accenture
AGRIVI
Amazon Web Services, Inc.
BASF SE

Market Drivers, Challenges, and Opportunities

Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the Europe precision agriculture market.

Precision agriculture aids farmers in gaining a deeper understanding of critical factors such as water availability, topography, orientation, vegetation, and soil types.

Related Report

Precision Agriculture Market

Analyst Note

BIS principal analyst suggests: “Precision agriculture technologies have seen rapid growth in adoption worldwide in recent years, with developed nations such as Canada, Australia, Europe, and the U.S leading the way due to their access to advanced resources and technology. In fact, large-scale farmers in the U.S. have adopted precision agriculture technologies at a rate of approximately 70%.

However, developing countries have been slower to adopt these technologies due to reasons such as inadequate infrastructure, resources, and education. Nonetheless, some countries such as Brazil and Argentina have made notable strides in the adoption of precision agriculture technologies.”

About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

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