Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "Europe Smart Crop Monitoring Market: Analysis and Forecast, 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe smart crop monitoring market (excluding U.K.) was valued at $1.04 billion in 2023, and it is expected to grow with a CAGR of 16.18% during the forecast period 2023-2028 to reach $2.20 billion by 2028.
The increasing demand for optimum crop yields and effective resource usage in agriculture is projected to fuel the expansion of the crop monitoring market. Furthermore, developments in technologies such as AI, machine learning, and remote sensing are projected to drive crop monitoring growth even further.
Smart crop monitoring is the use of advanced technology such as satellite images, drones, sensors, and data analytics to precisely and efficiently monitor and manage agricultural crops. It entails collecting, analyzing, and interpreting data in real time to optimize many aspects of farming such as irrigation, pest management, fertilizer use, and general crop health. Crop health monitoring enables farmers to make more informed decisions, increase productivity, conserve resources, and implement sustainable agricultural methods, resulting in higher yields and lower environmental impact.
Smart crop scouting and spraying have enormous promise for input optimization and increased crop yields. Farmers may ensure that pesticides and herbicides are used efficiently and effectively by spraying them more precisely, avoiding waste and even improving crop yields.
In response to these problems, demand for smart agricultural monitoring is projected to rise. These technologies can offer farmers with real-time data on crop health and soil conditions, allowing them to apply inputs more precisely and at the right moment. This saves waste while simultaneously improving crop health and production.
How can this report add value to an organization?
Product/Innovation Strategy: In the realm of smart crop monitoring, technological advancements are transforming agricultural landscapes. Smart crop monitoring solutions utilize diverse technologies such as IoT sensors, drones, and data analytics. These tools offer precise insights into crop health, optimizing irrigation, pest management, and harvest times. Innovations such as satellite imaging and remote sensing provide a holistic view of fields, empowering farmers to make informed decisions. The market encompasses a range of solutions, from real-time monitoring platforms to AI-driven predictive analysis, enabling farmers to enhance productivity and reduce resource wastage significantly.
Growth/Marketing Strategy: The Europe smart crop monitoring market has witnessed remarkable growth strategies by key players. Business expansions, collaborations, and partnerships have been pivotal. Companies are venturing into global markets, forging alliances, and engaging in research collaborations to enhance their technological prowess. Collaborative efforts between tech companies and agricultural experts are driving the development of cutting-edge monitoring tools. Additionally, strategic joint ventures are fostering the integration of diverse expertise, amplifying the market presence of these solutions. This collaborative approach is instrumental in developing comprehensive, user-friendly, and efficient smart crop monitoring systems.
Competitive Strategy: In the competitive landscape of smart crop monitoring, manufacturers are diversifying their product portfolios to cover various crops and farming practices. Market segments include soil analysis tools, disease detection systems, and climate analysis solutions. Competitive benchmarking illuminates the strengths of market players, emphasizing their unique offerings and regional strengths. Partnerships with research institutions and agricultural organizations are driving innovation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 67 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.04 Billion |
| Forecasted Market Value (USD) by 2028 | $2.2 Billion |
| Compound Annual Growth Rate | 16.1% |
| Regions Covered | Europe |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Ecosystem/Ongoing Programs
1.1.1.1 Consortiums and Associations
1.1.1.2 Regulatory Bodies
1.1.1.3 Government Initiatives and Impacts
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Need for Input Optimization
1.2.1.2 Growth in Farmland Consolidation
1.2.2 Business Challenges
1.2.2.1 Cyber and Online Data Security
1.2.2.2 Lack of Connectivity and Technical Awareness
1.2.3 Business Opportunities
1.2.3.1 Focus on Sustainability
1.2.3.2 Increase in Number of Cooperative Farming
1.2.4 Ongoing Trends
1.2.4.1 Integration with AI and ML
1.2.4.2 Monitoring Technology-as-a-Service (MTaaS)
1.2.5 Market Strategies and Developments
2 Region
2.1 Europe
2.1.1 Europe (by Country)
2.1.1.1 Germany
2.1.1.2 France
2.1.1.3 Spain
2.1.1.4 Italy
2.1.1.5 Netherlands
2.1.1.6 Switzerland
2.1.1.7 Belgium
2.1.1.8 Rest-of-Europe
2.2 U.K.
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Market Share Analysis
3.2 Company Profiles
3.2.1 CNH Industrial N.V.
3.2.1.1 Company Overview
3.2.1.1.1 Product and Customer Portfolio Analysis
3.2.2 AGRIVI
3.2.2.1 Company Overview
3.2.2.1.1 Product and Customer Portfolio Analysis
3.2.3 Robert Bosch GmbH
3.2.3.1 Company Overview
3.2.3.1.1 Product and Customer Portfolio Analysis
3.2.4 Airbus
3.2.4.1 Company Overview
3.2.4.1.1 Product and Customer Portfolio Analysis
3.2.5 Small Robot Company
3.2.5.1 Company Overview
3.2.5.1.1 Product and Customer Portfolio Analysis
For more information about this report visit https://www.researchandmarkets.com/r/wy3hsu
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