Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Europe Satellite Imaging for Agriculture Market: Analysis and Forecast, 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe satellite imaging for agriculture market (excluding U.K.) was valued at $65.5 million in 2023, and it is expected to grow with a CAGR of 7.51% during the forecast period 2023-2028 to reach $94.12 million. The satellite imaging for agriculture technology market is poised for growth due to the rising demand for improved and sustainable agricultural practices. 
Business Dynamics
- Business Drivers
- Increasing Requirements from Insurance Sector
- Increasing Farm Consolidation
- High Benefits over Other Remote Sensing Technology and Infield Monitoring Technology
- Need for Sustainable Agriculture Practices
- Business Challenges
- Technical Challenges in Obtaining and Analyzing Satellite Imagery
- Hindrance due to Cloud Cover
- Hindrance due to Spatial and Temporal Resolution
- Limited Awareness and Understanding across Developing Countries
- Geopolitical Issues
- Business Opportunities
- Rising Threat of Climate Risk
- Artificial Intelligence (AI) and Machine Learning (ML) in Action
- Tapping Small Holding Farmer with Affordable Solutions
- Business Strategies
- Product Developments
- Market Developments
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Collaborations, and Joint Ventures
- Snapshot of Corporate Strategies Adopted by the Key Players in the Market
Market Introduction
The Europe Satellite Imaging for Agriculture Market is currently undergoing substantial growth, driven by the escalating adoption of advanced technologies within the agricultural sector across European nations. Renowned for their emphasis on agricultural productivity and sustainability, European countries are increasingly embracing satellite imaging as a valuable tool for precise crop monitoring, soil health assessment, and the optimization of irrigation and fertilization practices. This technology facilitates early detection of pests and diseases, resource allocation optimization, and accurate crop yield predictions.
The market enjoys the presence of numerous satellite imaging service providers and benefits from the integration of cutting-edge technologies like remote sensing and artificial intelligence, streamlining data analysis and generating actionable insights. As Europe continues to prioritize sustainable agriculture and precision farming practices, the satellite imaging for agriculture market is poised for significant growth, contributing to enhanced agricultural productivity and environmental preservation throughout the region.
Market Segmentation
Segmentation 1: by Application
- Crop Health Monitoring
- Soil Mapping
- Forestry
- Others
Segmentation 2: by End User
- Agribusinesses
- Government and Non-Government Agencies
- Research Institutes
- Others
Segmentation 3: by Product
- Data Acquisition
- Processing
- Analytics
- Integrated Delivery Platform
Segmentation 4: by Country
- Germany
- France
- Italy
- Netherlands
- Switzerland
- Belgium
- Spain
- Rest of Europe
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Key Companies Profiled
- Airbus
- European Space Imaging
- Gamaya
- ICEYE
- Open Cosmos Ltd.
- Syngenta
- SpaceSense
Case Studies
- Airbus in Yield Optimization
- Planet Labs PBC in Irrigation Intelligence
- EOS Data Analytics, Inc. in Precision Agriculture
Key Attributes
| Report Attribute | Details |
| No. of Pages | 129 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $65.5 Million |
| Forecasted Market Value (USD) by 2028 | $94.12 Million |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Europe |
For more information about this report visit https://www.researchandmarkets.com/r/9f3o61
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