Europe Artificial Intelligence in Agriculture Market Forecast to 2030 - Regional Analysis - by Component (Hardware, Software, and Services) and Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring, and Others)

Europe Artificial Intelligence in Agriculture Market Forecast to 2030 - Regional Analysis - by Component (Hardware, Software, and Services) and Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring, and Others)

The Europe artificial intelligence in agriculture market was valued at US$ 462.41 million in 2022 and is expected to reach US$ 2,289.39 million by 2030; it is estimated to record a CAGR of 22.1% from 2022 to 2030.

Growing Government Support for Implementation of AI Solution Drives Europe Artificial Intelligence in Agriculture Market

Governments across the world are transforming the agriculture sector to be more efficient, sustainable, and inclusive to ensure food security. Governments around the world encourage the implementation of Al for agricultural applications in order to provide aid to farmers. In 2023, agrifoodTEF, a German initiative, was announced by the Osnabrück University of Applied Sciences. To apply AI and robots in the agriculture industry, the initiative intends to pool the resources of multiple EU nations, primarily Germany, France, and Italy. As of January 1, 2023, the project has received ~US$ 53.6 million (50 million euros) in funding from the EU. The funds will be used to support specific projects that are meant to work in tandem with one another. A number of supporting nations, including Belgium, Austria, Poland, and Sweden, will each receive five million, while the three main nations—France, Germany, and Italy—will each receive ten million.

Thus, such growing government support and initiatives are propelling the growth of AI in the agriculture market.

Europe Artificial Intelligence in Agriculture Market Overview

The Europe AI in the agriculture market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Europe agriculture market is utilizing AI technologies to improve production and sustainability. This includes the use of Al-driven systems for precision farming, predictive analytics, crop and soil monitoring, and livestock management. Advanced technologies promote resource efficiency, increase crop yields, and reduce environmental impact. Further, food security concerns drive the adoption of AI in Europe agriculture due to population growth and climate change.

Various institutions and research centers are also taking initiatives to promote AI in Agriculture. For example, the agrifoodTEF initiative constitutes three institutions—Deutsches Forschungszentrum für Künstliche Intelligenz (DFKI), Osnabrück University of Applied Sciences, and Agrotech Valley Forum. In February 2023, test settings for AI and agricultural robotics were established in three European nations as part of this program. This will aid the companies and academic institutions throughout Europe to test AI components in prototypes to make them ready for the market in the Osnabrück region of Lower Saxony. With funding of up to US$ 10.8 million, the Osnabrück team specializes in agricultural technology for arable farming.

In 2022, Europe faced a summer drought that was the worst in over 500 years. In many parts of Europe, this was followed by minimal rainfall over the winter, and water availability was pronounced very precarious by an Austrian group of scientists, prompting several EU governments to implement national water strategies as soon as possible. Agriculture was one of the sectors most affected, with lower harvests and greater production costs. As a result, prices, quantities, and yield quality are all affected. As a significant contribution to water use—accounting for 24% of water extraction in the EU, the agricultural sector is increasingly looking to technology, powered by data and AI, to reduce its water use and total environmental imprint while providing healthy food to the population in a more sustainable manner.

Various startups across Europe are developing AI technology for agriculture. For example, in February 2023, French startups were likewise at the forefront of developing technology. In February 2023, Dilepix, a spin-off from research at the French Institute for Research in Computer Science and Automation (INRIA), announced that it is developing artificial intelligence systems to monitor cattle, insects, and agricultural machines. Thus, such instances propel the growth of AI in agriculture market.

Europe Artificial Intelligence in Agriculture Market Revenue and Forecast to 2030 (US$ Million)

Europe Artificial Intelligence in Agriculture Market Segmentation

The Europe artificial intelligence in agriculture market is categorized into components, application, and country.

Based on component, the Europe artificial intelligence in agriculture market is categorized into hardware, software, and services. The software segment held the largest market share in 2022.

In terms of application, the Europe artificial intelligence in agriculture market is categorized into precision farming, drone analytics, agriculture robots, livestock monitoring, and others. The precision farming segment held the largest market share in 2022.

By country, the Europe artificial intelligence in agriculture market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe artificial intelligence in agriculture market share in 2022.

Deere & Co, International Business Machines Corp, Microsoft Corp, Easytosee Agtech SL, Climate LLC, Gamaya SA, Prospera Technologies Ltd, and Tarani are some of the leading companies operating in the Europe artificial intelligence in agriculture market.

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