The Europe precision farming market was valued at US$ 2.65 billion in 2023 and is expected to reach US$ 6.77 billion by 2031; it is estimated to register a CAGR of 12.4% from 2023 to 2031. 
It is advised that precision farming be integrated into the National Recovery and Resilience Plans of all member states, aligning with the EU's sustainability targets. Furthermore, the Scientific Foresight Study released by the European Parliament underscores that precision farming techniques can yield a 20-30% reduction in pesticide usage and a 50-80% decrease in the area requiring pesticide application. Thus, all these factors are expected to boost the Europe precision farming market growth.
By offering, the Europe precision farming market is segmented into hardware, software, and services. The hardware segment held the largest share of the Europe precision farming market share in 2023.
In application, the Europe precision farming market is segmented into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and others. The yield monitoring segment held the largest share of the Europe precision farming market share in 2023.
Rising Government Support for Modernizing Agricultural Practices boosts Europe Precision Farming Market
Governments of various countries are taking initiatives to modernize agricultural practices such as precision farming. For instance, the European Commission's new Common Agricultural Policy (CAP) introduced eco-schemes to incentivize farmers to adopt more environmentally conscious and climate-friendly practices. CAP is responsible for the shift to a sustainable food system and assists European farmers during this process of shifting. Thus, rising government support and schemes for modernizing agricultural practices fuel the precision farming market growth.Europe Precision Farming Market Overview
The Europe precision farming market exhibits significant partnerships, with major industry participants such as Deere & Company, Bayer Crop Science, Trimble Inc., Agco Corporation, and Granular Inc. actively engaged in research and development, product introductions, advancements, and collaborative ventures. Notably, Agco Corporation introduced the WR Series windrower in February 2022, delivering a 10% enhancement in overall efficiency compared to prior models, thereby optimizing hay production and quality. Precision farming methodologies, encompassing digital agriculture, are recognized as pivotal in advancing the EU's strategic objectives of sustainability, intelligence, and safety.It is advised that precision farming be integrated into the National Recovery and Resilience Plans of all member states, aligning with the EU's sustainability targets. Furthermore, the Scientific Foresight Study released by the European Parliament underscores that precision farming techniques can yield a 20-30% reduction in pesticide usage and a 50-80% decrease in the area requiring pesticide application. Thus, all these factors are expected to boost the Europe precision farming market growth.
Europe Precision Farming Market Revenue and Forecast to 2031 (US$ Million)
Europe Precision Farming Market Segmentation
The Europe precision farming market is categorized into offering, application, and country.By offering, the Europe precision farming market is segmented into hardware, software, and services. The hardware segment held the largest share of the Europe precision farming market share in 2023.
In application, the Europe precision farming market is segmented into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and others. The yield monitoring segment held the largest share of the Europe precision farming market share in 2023.
- Based on country, the Europe precision farming market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK segment held the largest share of Europe precision farming market in 2023.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe precision farming market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Europe precision farming market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe precision farming market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Precision Farming Market Landscape
5. Europe Precision Farming Market - Key Market Dynamics
6. Precision Farming Market - Europe Market Analysis
7. Europe Precision Farming Market Analysis - by Offering
8. Europe Precision Farming Market Analysis - by Application
9. Europe Precision Farming Market - Country Analysis
10. Competitive Landscape
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 88 |
| Published | March 2025 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 2.65 Billion |
| Forecasted Market Value ( USD | $ 6.77 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
