Uncertain landscape: Advances in farming methods may dissuade farmers from investing in industry services
Revenue is forecast to climb at a compound annual rate of 2.2% over the five years through 2023-24 to £135.7 million. The primary driver of revenue growth is agricultural income, business capital expenditure and the depreciation of the pound. Despite the onset of economic uncertainty following the Brexit vote, the pound's depreciation increased the relative value of payments from the Common Agricultural Policy as it is paid to UK farmers in euros. This contributed to rising agricultural income, helping farmers afford pricey precision agricultural systems and services.
Industry operators develop systems, software and testing applications that gather, track and analyse agricultural data to improve productivity on farms. Software and systems may be packaged as individual units for sale to downstream markets or integrated into third-party products, such as farm machinery.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- John Deere Limited
- AGCO Corporation
- Allflex UK Group Limited
Methodology
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