United Kingdom Precision Farming Market to Grow with a CAGR of 3.54% through 2029
Growth in research and development activities is expected
to drive the United Kingdom Precision Farming Market growth in the forecast
period, 2025-2029
According to
TechSci Research report, “United Kingdom Precision Farming Market– By
Region, Competition, Forecast and Opportunities, 2029F”, the United
Kingdom Precision Farming Market stood at USD 118.56 million in 2023 and is
anticipated to grow with a CAGR of 3.54% in the forecast period through 2029. Government initiatives in precision farming have created favorable market conditions for the United Kingdom Precision Farming Market. Several factors contribute to the growth of various precision farming products.
The government recently launched the Farming Innovation Programme, a comprehensive initiative aimed at supporting and advancing the agricultural industry. This Programme funds research and development projects specifically focused on precision farming, leveraging cutting-edge technologies and methodologies. Its goal is to empower farmers and growers to produce food in a more sustainable and efficient manner.
Aligned with the UK Strategy for Agricultural Technologies, precision farming plays a pivotal role in driving breakthroughs in various areas such as nutrition, genetics, informatics, satellite imaging, remote sensing, meteorology, and low-impact agriculture. Through the integration of these diverse fields, precision farming enables farmers to optimize resource allocation, enhance crop quality and yield, and minimize environmental impact. With the potential to revolutionize the agricultural landscape, precision farming holds tremendous promise for the future of sustainable food production.
The United Kingdom is confronted with the challenge of boosting agricultural productivity to meet rising demands for food, feed, and fiber. Precision farming technologies empower farmers to optimize production processes by precisely managing inputs like water, fertilizers, and pesticides. This enhances efficiency and resource utilization, thereby driving up agricultural productivity—a key catalyst for market expansion.
Sustainability has emerged as a paramount focus in the UK agricultural sector, driven by environmental concerns and regulatory pressures. Precision farming assumes a pivotal role in advancing sustainable agriculture by curbing the environmental footprint of farming practices. Through precise input application based on site-specific conditions and crop needs, precision farming reduces chemical usage, minimizes waste, and conserves resources. The escalating adoption of sustainable practices fuels demand for precision farming technologies, propelling market growth.
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"United Kingdom Precision Farming Market”
The United
Kingdom Precision Farming Market is segmented in technology, application, regional
distribution, and company.
Based on its application, The yield monitoring segment is forecasted to undergo rapid growth in the upcoming period. Yield monitoring furnishes farmers with detailed data on crop yields across different areas of their fields, enabling a comprehensive understanding of farm productivity. This valuable information aids in identifying patterns and trends, facilitating informed decisions regarding planting, fertilizing, and harvesting techniques. Leveraging yield monitoring technology allows farmers to significantly enhance farm productivity and optimize crop yields. Pinpointing underperforming areas within fields enables targeted actions to improve productivity, such as adjusting irrigation practices, refining fertilizer application, or implementing agronomic strategies for maximum yield potential. Yield monitoring is instrumental in driving cost savings and profitability for farmers. Utilizing yield data insights optimizes the use of inputs like seeds, fertilizers, and pesticides, ensuring efficient resource allocation and minimizing waste. This streamlined approach reduces costs and enhances profitability and sustainability for the farming operation. Yield monitoring holds promise in fostering environmental sustainability. By enabling precise crop management, it mitigates the risk of excess runoff into water sources, thus preserving water quality. Additionally, optimizing farm input usage helps reduce greenhouse gas emissions associated with unnecessary or excessive fertilizer and input use.
Major companies
operating in United Kingdom Precision Farming Market are:
- Deere & Company
- AGCO Corporation
- Merck & Co., Inc (Allflex)
- LH Agro (UK) Limited
- Vantage E & W Limited
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“Growing
application of precision farming in various end user industries are key drivers
of the precision farming market. Growth in competitive landscape and presence
of well-established companies in the market who are dedicated to enhance their
productivity of precision farming with every passing year are anticipated to
register an impressive growth to United Kingdom Precision Farming Market in the
forecast period.,” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“United Kingdom Precision Farming Market Segmented 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, 2019-2029F”, 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 United Kingdom Precision Farming Market.
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