According to a joint study by MarketsandMarkets ™ with ABACO Group, digital agriculture in the next five years will have exponential growth | News

Europe The harvest monitoring market is expected to account for 29% of total market share by 2026

Achieving value $ 1.5 billionincreasing by 16.4% over the next five years

CHICAGO, June 3, 2022 / PRNewswire / – ABACO Group, Europe a leading player in software solutions for land management and control with a focus on precision agriculture and environmental sustainability, in partnership with MarketsandMarkets ™the impact of revenue and consulting firm to better understand and expand its geographical reach Europe and Latin America. In the EU, the demand and importance of precision farming is growing significantly. MarketsandMarkets ™ used its Cloud Intelligence Cloud, KnowledgeStore, to help ABACO assess the rate of adoption and market potential of its agricultural technologies in target countries.

According to the results –

  • Europe occupies 27% of the world market of precision farming, i.e. $ 2.1 billion currently and is projected to be evaluated in $ 4.2 billion by 2026, growing by 14% CAGR
  • Harvest market monitoring Europe It is expected that by 2026 it will occupy 29% of the total market share, reaching values $ 1.5 billion and is estimated to grow by 16.4% CAGR over the next five years
  • GIS market in Europe is currently being evaluated in $ 2.6 billion and is projected to reach $ 4.7 billion by 2026, an increase to CAGR of 12.6% by 2026. MarketsandMarkets аналі analysts help ABACO with competitive benchmarking
  • The size of the regional and national market and the forecast of technologies such as GIS, AI and machine learning, API and IoT for agriculture were also studied. IoT in the agricultural market Europe is projected to be valued at $ 5.7 billion by 2026, growing by 9.1% CAGR

Antonio SamaritanCEO of ABACO Group said: “It is very important for us to have a constantly updated view of what is happening globally in the industry. The technological landscape is evolving very fast and it is very important that we understand these changes before they happen so that we can accompany our customers on this evolutionary path and take our experience beyond Europe. Growth in the precision farming market has opened up new horizons for ABACO, thanks to which we could collaborate with MarketsandMarkets ™ to fund global market research on the rate of adoption and market potential. ”

Sandip SuglaCEO of MarketsandMarkets ™ said: “We are pleased to have played an important role in assisting ABACO in achieving their EU revenue growth goals and Latin America markets, helping them set countries ’priorities, developing market entry strategies to win over competitors and offering innovative solutions to solutions for accelerated growth”.

Market Intelligence, provided by MarketsandMarkets ™, would help ABACO reformat and redesign the platform to become a product company. The market vision will allow ABACO to move in two directions – technologies such as augmented reality, data visualization, analytics and innovation such as AI, deep IoT integration, distributed accounting and chatbot.

About MarketsandMarkets ™

MarketsandMarkets ™ is a consulting company that has an impact on profits and provides quantitative B2B research to more than 10,000 clients worldwide. Based on the Give Growth principle, we work with several Forbes Global 2000 B2B companies to help them stay relevant in a destructive ecosystem, provide up-to-date information on destructive trends and identify blind spots, assessing the competitive landscape in real time and analyzing both affect not only customers but also their customers. Our ideas and strategies are shaped by our industry experts, advanced AI Market Intelligence Cloud and years of research.

To learn more, visit www.MarketsandMarkets ™ .com or follow us Twitter, LinkedIn and Facebook.

About ABACO Group

ABACO is Europe a leading player in software solutions for land management and control with a focus on precision farming and environmental sustainability. ABACO has been developing land management software for three decades, with innovations as part of their DNA aimed at anticipating the needs of a fast-growing market to become a trusted partner for private business and government with a share in daily sustainability, traceability and productivity.

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