Growing digitization in the agricultural sector along with the growing demand for quality Agri-food products is expected to drive the demand for the United Kingdom precision farming market in the forecast period, 2023-2027. According to TechSci Research report, “United Kingdom Precision Farming Market By Region, Competition Forecast & Opportunities, 2027”, the United Kingdom precision farming market is expected to register significant growth and grow with an impressive CAGR during the forecasted period, 2023-2028.
The Important Aspects of the United Kingdom Precision Farming Market
With the rapid urbanization across the United Kingdom, the farmers in the region are becoming more prone to smartphones, the internet, and other intelligent mediums to gain insights about the latest techniques and developments in the agriculture sector. As a result, farmers are intensively opting for technologically advanced farming techniques such as precision farming which help them in determining the suitable time and conditions for plowing and harvesting by placing sensors throughout the farm.
These sensors are connected with digital applications installed in smartphones, laptops, or tablets and record rainfall and soil health, and predict weather conditions, thereby helping farmers utilize the right amount of inputs in the right place at the right farming area. In addition to this, the European Union has also extended financial support to the farmers so that they can easily invest and adopt precision farming techniques, which is further augmenting the growth of the United Kingdom precision farming market. Furthermore, precision farming also helps in measuring the environmental footprint of using harsh chemicals and pesticides in the soil. This encourages farmers to comply with good farming standards. Apart from this, the use of precision farming is not limited to industrial agriculture only, organic farming or any other agroecological approach can utilize precision farming tools to enhance farm management.
Moreover, the growing concerns of consumers towards the quality of agricultural food products, along with the propelling demand for organic food products, are also adding to the growth of the United Kingdom precision farming market. Precision farming enhances food safety and provides a digitalized roadmap of Agri-food products' life cycle from farm to fork.
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The United Kingdom precision farming market is segmented on the basis of offering, technology, application, regional distribution, and company. Based on offering, the market is bifurcated into hardware, software, and services, among which the Hardware segment is anticipated to lead the market over the upcoming five years. With the increasing adoption of automation and control instruments such as drones, remote sensors, yield monitors, GPS/GNSS, drainage controllers, guidance, and traction control equipment, the hardware segment will continue to dominate the market over the coming years.
By technology, the market is divided into guidance technology, remote sensing technology, and variable rate application. Among these, the guidance technology segment is expected to grow with the highest CAGR during the forecasted period. Due to the early introduction of Guidance technology, it captured the biggest market portion. A GPS/GNS, receiver, antenna, DGPS, control, guide & steering are the primary components that are required in the guidance technology system. This technology is applied to tractors, combines, and several other pieces of farm equipment to assist farmers by automatically steering the equipment to the desired location guided by GPS. GPS-based management technologies allow farmers to protect overlapping tractor passes and reduce work time and soil compaction.
Based on the application, the market is fragmented into yield monitoring, crop scouting, field mapping, weather tracking & forecasting, farm labor management, and others. The yield monitoring segment is expected to lead the United Kingdom precision farming market over the projected period. This application is widely adopted because yield monitoring utilizes GPS technology and physical sensors to gain valuable insights about the soil, crop, grain moisture, combined speed, and other relevant information, which is essential for a crop to grow healthy. It also allows farmers to effectively deal with climate-related disasters and facilitates improved food security and decision-making in agriculture.
Major market players operating in the United Kingdom precision farming market are:
- John Deere Limited
- AGCO Corporation
- Nesta UK
- Allflex UK Group Limited
- LH Agro (UK) Limited
- AS Communication (UK) Limited
- Proagrica, part of RELX Group
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“The growing penetration of the Internet of Things (IoT) in precision farming techniques is taking digitization in agriculture to an extremely competitive landscape. Along with IoT, numerous other technologies such as cloud computing, drones, and GPS are being launched concurrently, which is boosting the United Kingdom precision farming market. To fuel the market further, European Union is extending financial support to farmers so that they can diversify their investments in precision farming techniques and produce high-quality yields. The new market players are advised to invest in the research and development of farming equipment that are cost-effective and are easy to operate, in order to establish their brand in the market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United Kingdom precision farming Market By Offering (Hardware, Software, Services), By Technology (Guidance Technology, Remote Sensing Technology, Variable Rate Application), By Application (Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking & Forecasting, Farm Labor Management, Others) By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of United Kingdom precision farming market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United Kingdom precision farming market.
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