Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Agriculture Technology-as-a-Service Market - A Global and Regional Analysis: Focus on Service Type, Technology, Application (Yield Mapping, Soil Management, Pricing Models, Break-Even Analysis - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global agriculture technology-as-a-service market is projected to grow from $1,101.6 million in 2020 to $3,089.8 million by 2025, at a CAGR of 22.91% from 2020 to 2025.
High growth in the market is expected to be driven by the growing need to adopt agriculture technologies across the industry, conversion of capital expenditure into operational expenditure for customers, and greater customer retention for service providers. The added benefits of lower costs, scalability, integration, and accessibility associated with ATaaS are also expected to be responsible for the reported growth of the business model.
Agriculture is the source of livelihood and sustenance of the economy in several regions of the world. Hence, the need to adopt advanced technologies in the agriculture industry has driven favorable initiatives, policies, and support shown by governments in countries such as the U.S., Canada, the U.K., Germany, France, Australia, India, and China.
In emerging countries, the growth of the market is expected to be driven by rising awareness among governments and manufacturers-turned-service providers about the need to elevate farm produce while evaluating the farm expenditure of their growers. Furthermore, rising concerns over global food security and sustainability have led to extensive investments by governments across the world.
The competitive landscape for the global agriculture technology-as-a-service market demonstrates an inclination toward companies adopting strategies such as product launch and development and partnerships, collaborations, and joint ventures.
The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing service portfolio.
Deere and Co., Trimble Inc., AGCO Corporation, 365FarmNet, Agrivi, PrecisionHawk., Accenture plc, SGS SA, Intertek plc, Small Robot Company, Ceres Imaging Inc., Naio Technologies, and Airbus S.A.S among others, are some of the prominent players in the global agriculture technology-as-a-service market.
The market is highly fragmented with the presence of a large number of small- to medium-sized companies that compete with each other and the large enterprises.
Regional Market Dynamics
North America is expected to generate the largest market share of the region during the forecast period due to the increased application of automation and control systems in most of the countries and the rising adoption rate of smart farming practices leading to increased adoption of agriculture technology-as-a-service. Constantly increasing farm sizes and the rise in global food demand from limited arable land shall ensure future market growth.
Asia-Pacific and Japan, in 2020, are expected to hold a smaller market share as compared to that of North America and Europe due to a late introduction of agriculture technologies and practices.
However, Asia-Pacific and Japan are expected to have the fastest market growth with a CAGR of 28.20% during 2020 to 2025, owing to the amount of arable land available, dependence of agriculture on the countries for their economic and social growth along with the support by the government in terms of subsidy, regulations, or research.
Smaller farm size in the larger part of the region is also expected to be a major driving force for exceeding the wide adoption of agriculture technology-as-a-service.
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Pricing Models
18.104.22.168 Bundled Per Acre
22.214.171.124 Per Pass/Service
126.96.36.199 Percentage of Yield Bump/Gain
188.8.131.52 Per Unit of Product Sold
1.1.2 Break-Even Analysis
184.108.40.206 Components of Break-Even Analysis
220.127.116.11 Calculation of Break-Even Analysis
18.104.22.168 Case Studies
1.1.3 Advanced Solutions
22.214.171.124 Agriculture Robot-as-a-Service (ARaaS)
126.96.36.199 Agriculture Drone-as-a-Service (ADaaS)
1.1.4 Government Initiatives Landscape
188.8.131.52 North America
184.108.40.206 Asia-Pacific and Japan
1.2 Business Dynamics
1.2.1 Business Drivers
220.127.116.11 Increasing Demand for Global Food Production
18.104.22.168 Economic Need for Precision Agriculture
22.214.171.124 Low Capital Investment for Customers
1.2.2 Business Challenges
126.96.36.199 Price Inflation of Agricultural Produce
188.8.131.52 Lack of Technical Awareness Amongst Farmers
1.2.3 Business Strategies
184.108.40.206 Product Developments
220.127.116.11 Market Developments
1.2.4 Corporate Strategies
18.104.22.168 Mergers & Acquisitions
22.214.171.124 Partnerships, Collaboration, and Joint Ventures
1.2.5 Business Opportunities
126.96.36.199 Growth of Agriculture Service Economy
188.8.131.52 Increasing Investments for Agriculture Technology
184.108.40.206 Rising Trend of Farming-as-a-Service in India
2.1 Global Agriculture Technology-as-a-Service Market (by Application), $Million
2.1.1 Market Overview
2.1.2 Yield Mapping and Monitoring
2.1.3 Soil Management
2.1.4 Crop Health Management
2.1.5 Navigation and Positioning
2.2 Global Agriculture Technology-as-a-Service Market (by Farm Produce), $Million
2.2.1 Market Overview
2.2.3 Oil Crops
2.2.4 Fiber Crops
2.2.8 Tree Nuts
2.2.9 Roots and Tubers
3.1 Global Agriculture Technology-as-a-Service Market (by Service Type), $Million
3.1.1 Assumptions and Limitations for Analysis and Forecast of the Global Agriculture Technology-as-a-Service Market
3.1.2 Market Overview
3.1.3 Software-as-a-Service (SaaS)
3.1.4 Equipment-as-a-Service (EaaS)
3.2 Global Agriculture Technology-as-a-Service Market (by Technology), $Million
3.2.1 Market Overview
3.2.2 Data Analytics and Intelligence
3.2.3 Guidance Technology
3.2.4 Sensing Technology
3.2.5 Variable Rate Application Technology
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Company Profiles
220.127.116.11 Role in Global Agriculture Technology-as-a-Service Market
18.104.22.168 Service portfolio
22.214.171.124 Production Sites and R&D Analysis
126.96.36.199 Product Development
188.8.131.52 Market Developments
184.108.40.206 Mergers and Acquisitions
220.127.116.11 Partnerships, Collaborations, and Joint Ventures
5.2.2.Strengths and Weaknesses
CNH Industrial N.V.
Deere & Company
Yanmar Co. Ltd.
CropIn Technology Solutions Pvt Ltd.
Robert Bosch GmbH
Precision Hawk Inc.
SZ DJI Technology Co. Ltd
Harvest Automation Inc.
Small Robot Company
Ceres Imaging Inc.
Intertek Group plc
Nutrien AgSolutions, Inc.
Raven Industries Inc.
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