Market opportunity

According to EU agricultural outlook 2017-30 (link) there is need to feed more than 500 million Europeans. Agricultural workforce will shrink by 3.2% on average per year, reaching 6.6 million by 2030. Costs are also expected to rise by 2.5% per year between 2017 and 2030, adding up to 30% over the period. Investing in precision farming and digital agriculture are expected to significantly increase. Global smart agriculture solution market is expected to flourish at a significant compound annual growth rate (CAGR) of 11.5% over the forecast period 2017-2024. The global smart agriculture solution market stood at revenue around USD 10.2 Billion by the end of year 2017. Further, the market is projected to reach at a valuation about USD 38.1 Billion by the end of 2024. In terms of share, the hardware components captured around 50% in the global smart agriculture solution market share and are expected to behold this growth over the forecast period. [1] EU market volume value for 2018 for arable equipment – category Seeding, Fertilizing, Crop protection was 1.42 billion EUR.[2]

We envisioned that Ullmanna will boost a new niche market with smart weeding machines which hasn’t took the momentum yet. This is due to high initial costs of existing smart in-row weeders.

[1] (Kenneth Research, Global Smart Agriculture Solution Market link)

[2] (CEMA European Agricultural Machinery Association link )