Europe Smart Farming Market Share and Research Report (2018–2023)
The Europe smart farming market is expected to grow from $XX million in the year 2018 to $XX million by 2023, with a CAGR of XX% from 2018 to 2023. The high market growth is expected to be driven by the need to apply site-specific farming and variable rate application of raw materials and resources as per the requirement of high crop yield. Besides this, the deployment of automation and control systems to steer the application of agricultural inputs along with sensing systems to monitor the need is crucial to augment the growth of the market. Smart farming is also expected to reduce the ecological footprint of daily farming. In emerging countries, growth is expected to be driven by rising awareness among the governments of different countries about the need to elevate farm produce while taking care of the environment.
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Furthermore, rising concerns over food security and sustainability have led to extensive investments by the governments across the world. The Europe smart farming market has been strongly motivated by the substantial support of the government in terms of investments, favorable initiatives, and trade policies.
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Moreover, the rapid market penetration of IoT technology in farming practices has led to the enhancement of agricultural productivity by minimizing manual labor and providing efficient platform for proper data management of production inputs. Widespread implementation of cloud-based software systems, wherein shared resources and data are provided to the computers and other devices on demand, has fueled the market for smart farming by reducing risk. Thus, these advanced technologies have enabled the farmers to continuously monitor a large number of farm operations with improved decision-making abilities, thereby increasing the overall production capacities.
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