Agriculture Technology as a Service Market Size, Growth,

  • Global Agriculture Technology as a Service market size is expected to reach USD 4.93 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.

    Rising need to increase global food production owing to rapidly increasing global population is a key factor driving market growth

    Limited availability of natural resources such as arable land and freshwater across the world is boosting popularity of precision farming. Moreover, rising cost of labor owing to decline in agricultural workforce is another key factor driving demand for precision farming.

    The Global Agriculture Technology as a Service Market report comprises of vital details of the Agriculture Technology as a Service business sphere that aims to offer the reader a comprehensive understanding of the Agriculture Technology as a Service market and identify optimum growth prospects to gain a competitive edge over other competitors.

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    Emergen Research has segmented the global Agriculture Technology as a Service market on the basis of service type, technology, application, and region:

    • Service Type Outlook (Revenue, USD Billion; 2018–2028)
      • Equipment-as-a-Service (EaaS)
      • Software-as-a-Service (SaaS)
    • Technology Outlook (Revenue, USD Billion; 2018–2028)
      • Guidance Technology
      • Data Analytics and Intelligence
      • Variable Rate Application Technology
      • Sensing Technology
      • Others      
    • Application Outlook (Revenue, USD Billion; 2018–2028)
      • Soil Management
      • Navigation and Positioning
      • Yield Mapping and Monitoring
      • Crop Health Management
      • Others

    Regional Analysis of the Agriculture Technology as a Service Market includes:

    • North America (U.S., Canada)
    • Europe (U.K., Italy, Germany, France, Rest of EU)
    • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
    • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
    • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

    North America accounted for largest revenue share contribution to the global Agriculture Technology as a Service market in 2020. Increasing adoption of precision farming technologies is expected to further drive growth of agriculture technology as a service market in the region.

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    Elements analyzed in the report:

    Key players in the market include Trimble Inc., Deere & Company, AGCO Corporation, IBM Corporation, Accenture plc, Airbus S.A.S., AT&T Inc., Raven Industries, Inc., Topcon Corporation, and SGS S.A.

    The Global Agriculture Technology as a Service Market report offers an elaborate analysis of the different elements of the industry, such as product development and technological advancements, product types, applications, and major expansion strategies undertaken by prominent companies.

    Some Key Highlights From the Report

    • In May 2019, IBM announced Watson Decision Platform’s global expansion for agriculture with Artificial Intelligence technology tailored for specific regions and new crops in order to meet growing demand for food. IBM is offering global agriculture solutions which consist of a combination of predictive technology with data from The Weather Company and IoT to support farmers across the world obtain greater insights about planting, plowing, planning, spraying, and harvesting.
    • Software-as-a-Service (SaaS) segment accounted for largest revenue share in 2020. Fertilizer distributors are offering software as services that analyzes field data to help farmers in determining the exact location and quantity of fertilizers to be applied, which is driving growth of this segment.
    • Variable rate application technology segment revenue is expected to expand at a rapid CAGR during the forecast period. Rising need to reduce excess use of chemicals and fertilizers to minimize environmental degradation is driving demand for variable rate application technology.
    • Yield mapping and monitoring segment accounted for a significantly high revenue share in the Agriculture Technology as a Service market in 2020. The need for detecting problems such as crop diseases or pests are increasing deployment of sensors, which deliver imagery from remote corners of the field to help farmers in obtaining early warnings of pests or diseases.

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