(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The "Agriculture Technology-as-a-Service market - A Global and Regional Analysis: Focus on Application, Service Type, Pricing, and Region - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
In 2023, the global agriculture technology-as-a-service market reached a valuation of $4.20 billion. Over the forecast period, the market is projected to exhibit a CAGR of 13.93%, reaching a value of $17.81 billion by 2034. The surge in demand for agriculture technology-as-a-service is propelled by the increasing need for efficient, scalable solutions that enhance productivity and sustainability in farming. This model allows for the adoption of advanced technologies without significant upfront costs. The agriculture technology-as-a-service market is characterized by the presence of companies offering agriculture technology-as-a-service and new-age startups. The agriculture technology-as-a-service market is attracting significant investment, driven by its capacity for enhancing productivity and sustainability in farming practices. Despite the potential, large-scale deployments may face logistical challenges related to infrastructure limitations and the integration of new technologies into existing systems.
The companies that are profiled in the agriculture technology-as-a-service market have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, application, and market penetration. The global agriculture technology-as-a-service market is growing at a prominent rate, with many players competing for market share.
The expansion of the agriculture technology-as-a-service market is primarily driven by the increasing need for sustainable and cost-efficient farming solutions in response to global agricultural challenges such as resource scarcity and the demand for higher crop yields. This model offers scalability and flexibility, making it accessible to farms of all sizes. Governments and industry leaders are recognizing the value of agriculture technology-as-a-service, supporting its adoption through various initiatives and subsidies aimed at promoting technological integration in agriculture. As a result, the agriculture technology-as-a-service market is set to play a pivotal role in transforming the agricultural sector, enabling farmers to optimize their operations while also advancing environmental sustainability and contributing to global food security.
Industrial Impact
The agriculture technology-as-a-service market is poised to have a significant impact on the agricultural industry by transforming traditional farming practices into more efficient, data-driven operations. By providing access to advanced technologies such as precision agriculture tools, IoT devices, and AI-driven analytics, agriculture technology-as-a-service enables farmers to make informed decisions that optimize resource use and enhance crop yields. The adoption of GPS-guided tractors, drones for aerial surveillance, and automated machinery for planting and harvesting streamline operations. This shift not only improves the economic viability of farming but also promotes sustainable practices by minimizing waste and conserving resources.
Moreover, the industrial impact of agriculture technology-as-a-service extends to the broader agricultural supply chain, facilitating better integration and coordination among various stakeholders. Real-time data collection and analysis allow for more accurate forecasting and inventory management, reducing the risk of supply chain disruptions.
Additionally, agriculture technology-as-a-service promotes innovation by encouraging the development and adoption of new technologies, fostering a more competitive and dynamic agricultural sector. As governments and industry leaders continue to support the deployment of agriculture technology-as-a-service through subsidies and initiatives, the market is expected to drive significant advancements in agricultural productivity and sustainability, ultimately contributing to global food security and economic growth.
Market Segmentation:
Crop Health Monitoring Segment to Dominate the Global Agriculture Technology-as-a-Service Market (by Application)
During the forecast period 2024-2034, the crop health monitoring segment is expected to be the leading application segment in the agriculture technology-as-a-service market, primarily due to the growing need for precision farming practices that ensure optimal crop yields and quality. This segment leverages advanced technologies such as drones, IoT sensors, and data analytics to provide real-time insights into crop conditions, enabling farmers to detect and address issues such as pests, diseases, and nutrient deficiencies more efficiently. The ability to monitor crop health accurately and take timely actions significantly enhances productivity and sustainability, making it a crucial component of modern agricultural practices.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications of agriculture technology-as-a-service and their global potential. Moreover, the study gives the reader a detailed understanding of the end-use industries and different products offered by different regulations, consortiums and associations, and government programs impacting agriculture technology-as-a-service manufacturers for various purposes.
Growth/Marketing Strategy: The global agriculture technology-as-a-service market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been partnership, collaboration, and joint venture activities to strengthen their position in the global agriculture technology-as-a-service market.
Competitive Strategy: Key players in the global agriculture technology-as-a-service market analyzed and profiled in the study involve agriculture technology-as-a-service providers, including market segments covered by distinct product kinds, applications served, and regional presence, as well as the influence of important market tactics employed. Moreover, a detailed competitive benchmarking of the players operating in the global agriculture technology-as-a-service market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the agriculture technology-as-a-service market.
Key Market Players
AGRIVI IBM Corporation Microsoft AIRBUS BASF SE Hexagon AB Cropin Technology Solutions Private Limited TOPCON CORPORATION Deere & Company 365FarmNet GmbH Trimble Inc. KUBOTA Corporation VALMONT INDUSTRIES, INC. Ag Leader Technology Farmers Edge Inc. Ceres Imaging EM3 Agriservices
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 127 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $4.84 Billion |
| Forecasted Market Value (USD) by 2034 | $17.82 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Scope and Definition
1 Market: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.1.1 Increasing Food Consumption Due to Rise in Population
1.1.2 Increasing Need for Sustainable Agricultural Practices
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Pricing Forecast
1.2.3 Break-Even Analysis
1.2.3.1 Introduction
1.2.3.2 Key Components
1.2.3.3 Calculation
1.2.3.4 Case Study: Break-even Analysis of Smart Agriculture Solutions in Indonesia
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country and Company)
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.5.1 Use Case
1.5.2 End User and Buying Criteria
1.6 Market Dynamics Overview
1.6.1 Market Drivers
1.6.1.1 Growing Adoption of Precision Agriculture
1.6.1.2 Low Capital Investment for Farmers
1.6.2 Market Challenges
1.6.2.1 Insufficient Technical Expertise among Farmers
1.6.2.2 Inadequate Infrastructure and Workforce for EaaS Solutions
1.6.3 Market Opportunities
1.6.3.1 Rising Investment in Agriculture Technology Startups
1.6.3.2 Emergence of Collaborative Partnerships and Ecosystems
2 Application
2.1 Application Segmentation
2.2 Application Summary
2.3 Agriculture Technology-as-a-Service Market (by Application)
2.3.1 Harvest Dynamics Monitoring
2.3.2 Soil Management and Testing
2.3.3 Crop Health Monitoring
2.3.4 Irrigation
2.3.5 Others
3 Products
3.1 Product Segmentation
3.2 Product Summary
3.3 Agriculture Technology-as-a-Service Market (by Service Type)
3.3.1 Software-as-a-Service (SaaS)
3.3.1.1 Software-as-a-Service (SaaS) (by Installation Type)
3.3.1.1.1 On-Cloud
3.3.1.1.2 On-Premises
3.3.2 Equipment-as-a-Service (EaaS)
3.3.2.1 Agriculture Drone-as-a-Service (ADaaS)
3.3.2.2 Agriculture Robot-as-a-Service (ARaaS)
3.4 Agriculture Technology-as-a-Service Market (by Pricing)
3.4.1 Subscription
3.4.2 Pay-per-Use
4 Regions
4.1 Regional Summary
4.2 North America
4.2.1 Regional Overview
4.2.2 Driving Factors for Market Growth
4.2.3 Factors Challenging the Market
4.2.3.1 Application
4.2.3.2 Product
4.2.4 U.S.
4.2.4.1 Application
4.2.4.2 Product
4.2.5 Canada
4.2.5.1 Application
4.2.5.2 Product
4.2.6 Mexico
4.2.6.1 Application
4.2.6.2 Product
4.3 Europe
4.4 Asia-Pacific
4.5 Rest-of-the-World
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Next Frontiers
5.2 Geographic Assessment
5.3 Company Profiles
5.3.1 Overview
5.3.2 Top Products/Product Portfolio
5.3.3 Top Competitors
5.3.4 Target Customers
5.3.5 Key Personnel
5.3.6 Analyst View
5.3.7 Market Share, 2023
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Global Agriculture Technology-as-a-Service Market
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