Europe Precision Farming Market Size & Outlook, 2023-2030
Europe precision farming market, 2018-2030 (US$M)
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Europe precision farming market highlights
- The Europe precision farming market generated a revenue of USD 2,624.6 million in 2023.
- The market is expected to grow at a CAGR of 13.8% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating offering in 2023.
- Software is the most lucrative offering segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 2,624.6 million |
| Market revenue in 2030 | USD 6,501.2 million |
| Growth rate | 13.8% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Agilent Technologies Inc, Aegon Ltd, Trimble Inc, AGCO Corp, CNH Industrial NV, CropX, Deere & Co, Topcon Corp, AgriFORCE Growing Systems Ltd, Fairfax Financial Holdings Ltd Shs Subord.Vtg, US Global Investors Inc Class A, System1 Inc, Monsanto |
Other key industry trends
- In terms of revenue, Europe region accounted for 25.0% of the global precision farming market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,770.4 million by 2030.
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Precision Farming Market Scope
Precision Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe precision farming market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision farming market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 67.25% in 2023. Horizon Databook has segmented the Europe precision farming market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Europe has always been the dominant force in the food and agricultural sector with presence of top agricultural exporting countries such as Germany, Netherlands, and France. Europe is home to leading food and agriculture institutes such as Rothamsted Research in the UK and Wageningen University & Research in the Netherlands as well as top companies such as Nestle and Bayer.
Furthermore, the region also has large companies that focus on innovation such as Switzerland-based Givaudan that covers fragrances and flavorings market. The number of agtech startups has increased in Europe owing to increased support resources such as incubators, namely StartLife, as well as government programs and accelerators.
Government bodies play a vital role in taking initiatives to develop the precision farming market in the European region. The European Commission has introduced the Horizon 2021 program that offer funds to bring new technologies into European market. In order to achieve this, the startups and the public sector have to work together to develop innovative technologies.
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Our clientele includes a mix of precision farming market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe precision farming market , including forecasts for subscribers. This continent databook contains high-level insights into Europe precision farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe precision farming market size, by country, 2018-2030 (US$M)
Europe Precision Farming Market Outlook Share, 2023 & 2030 (US$M)
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