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.
Increasing utilization of smart crop monitoring solutions, which aims at optimizing resource usage and crop growth through real-time, precises and location-dependent adjustments are driving growth of the agriculture technology as a service market. Farmers are adopting drone farming as it provides more frequent, cost-effective remote monitoring of large areas, and enables remote interventions to boost yield and reduce losses caused by crop pests.
The analysis is done on the basis of the authentic and relevant information obtained from in-depth primary and secondary research. Additionally, the factors expected to drive or restrain the growth of the market are studied extensively in the report.
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Major Key Companies:
- rimble Inc.
- Deere Company
- AGCO Corporation
- IBM Corporation
- Accenture plc
- Airbus S.A.S.
- ATT Inc.
- Raven Industries Inc.
- Topcon Corporation
- SGS S.A.
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.
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)
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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.
Elements analyzed in the report:
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.
Key players in the market include Trimble Inc., Deere Company, AGCO Corporation, IBM Corporation, Accenture plc, Airbus S.A.S., ATT Inc., Raven Industries, Inc., Topcon Corporation, and SGS S.A.
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