The Europe smart agriculture market is expected to register a CAGR of 9.56% during the forecast period, 2022-2030. A number of environmental issues have influenced European farmers to incorporate environmental-friendly agricultural production methods, which could raise the demand for industry services while preserving sustainability. These elements also support smart farming practices.
Spain, France, the United Kingdom, Poland, Netherlands, Italy, Germany, and Rest of Europe are assessed for the Europe smart agriculture market growth analysis. Germany is a forerunner in the digital technology sector, including smart farming and precision agriculture. Around 51% of its total land area is used for agriculture. As per the Federal Statistical Office stats, the GDP from agriculture grew to $12.15 billion in the second quarter of 2022 from $9.17 billion in the first quarter. Also, a favorable ecosystem and smart farming development businesses are projected to facilitate growth opportunities. In addition, supportive government programs are estimated to stabilize output and ensure the sustainable expansion of the industry.
In Spain, small-scale farmers majorly rely on EU subsidies. Also, they are implementing innovative technologies like big data, AI, robotics, and the Internet of Things to improve farm production methods and reduce the impact of issues like water scarcity. As per a Ministry for the Ecological Transition study, the Spanish hydrographic reserve had 39.9% less water than the previous year at the start of August 2022. In this regard, the 5G network in agriculture is among the important techniques that will allow larger and better harvests, making them more environmental-friendly and sustainable. Such factors propel market demands in these countries.
Some of the leading firms in the market include AKVA, Aker Technologies Inc, AgEagle Aerial Systems Inc, AgJunction, etc.
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