The 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. Steady market revenue growth can be attributed to rising need to increase global food production owing to rapid growth in global population. Manufacturers turned service providers are offering affordable agriculture technologies as services to small farmers, which is helping them to enhance productivity and farming efficiency.
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.
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Some Key Highlights From the Report
- 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.
- 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.
- 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.
Agriculture Technology as a Service Market Segmentation:
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 Bifurcation includes:
- North America(U.S., Canada)
- Europe(U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific(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)
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Key questions addressed:
- What are the estimated CAGR for the global Agriculture Technology as a Service market and each segment in the global market?
- Which market segments and sub-segments have been covered in this report? Which of these segments is foreseen to exhibit the highest growth rate over the projected period? What are the most prominent industry aspects likely to impact the market values and shares of the regions viz., North America, Europe, Asia Pacific, Latin America, and Middle East &Asia? What do the SWOT analysis and Porter’s five forces entailed in the report signify with respect to the future position of the market?
- Which are the leading companies operating in the global Agriculture Technology as a Service market? What are their strengths and weaknesses?
- What are the most common market expansion strategies applied by the key market competitors to reinforce their market positions?
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2024-2028
Chapter 3. Key Insights
Chapter 4. Agriculture Technology as a Service Market Segmentation & Impact Analysis
4.1. Agriculture Technology as a Service Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising need to increase global food production
4.2.2.2. Increasing investment of government for technology
4.2.2.3. Growing trend towards precision farming
4.2.3. Market restraints analysis
4.2.3.1. Lack of technical knowledge among farmers
4.2.3.2. High cost of modern agricultural equipment
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
READ MORE…!
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