Global Agriculture Technology-as-a-Service Market Anticipated to Reach $2,492.6 Million by 2024
Key Questions Answered in this Report: • What is the expected global agriculture technology-as-a-service market size in terms of value from 2018 to 2024? • What is the expected future scenario and revenue generation by the different types of service including software-as-a-service (SaaS) and equipment-as-a-service (EaaS)? • What is the expected future scenario and revenue generation by different types of agriculture technologies offered as service including data analytics and intelligence, guidance technology, sensing technology, and variable rate application technology, among others? • What is the expected future scenario and revenue generation by the application segments for which agriculture technologies are offered as service including yield mapping and monitoring, soil management, crop health management, and navigation and positioning, among others? • Which region is the largest market for global agriculture technology-as-a-service market? • What is the expected future scenario and the revenue generation by different regions and countries in the agriculture technology-as-a-service market ? North America, Europe, Asia-Pacific, and Rest-of-the-World? • What is the competitive strength of the key players in the agriculture technology-as-a-service market on the basis of the analysis of their recent developments, product offerings, and regional presence? • What are the different pricing models available in the global agriculture technology-as-a-service market? • How is the adoption scenario, related opportunities, and challenges associated with agriculture technology-as-a-service? • What are the market dynamics of the global agriculture drones and robots market including market drivers, restraints, and opportunities? • What is the SWOT analysis for leading companies in the agriculture technology-as-a-service market?
Global Agriculture Technology as a Service Market Forecast, 2019-2024
The Global Agriculture Technology-as-a-Service Industry Analysis projects the market to grow at a significant CAGR of 21.75% during the forecast period from 2019 to 2024. 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 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 the governments across the world.
“ATaaS business model allows the customers to procure their desired agriculture technologies as services under different affordable pricing models rather than acquiring them as a one-time purchase. By relieving the customers of ownership of agriculture technologies through the service model, the entire responsibility of ownership of assets relies on the service providers, leading to a higher cost of operations for them. Despite these additional costs, by adopting the Agriculture Technology-as-a-Service model, service providers are expected to experience better customer retention and recurring revenue, owing to the direct contact with their customers for constant feedback.”
Scope of the Global Agriculture Technology-as-a-Service Market
The global agriculture technology-as-a-service market research provides a detailed perspective regarding the service type, its value, and estimation, among others. The purpose of this market analysis is to examine the agriculture technology-as-a-service industry outlook in terms of factors driving the market, trends, developments, and regulatory landscape, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contributions of the key players operating in the market. The agriculture technology-as-a-service report is a compilation of different segments including market breakdown by service type, technology, application, and region.
The global agriculture technology-as-a-service market (on the basis of service type) is segmented into software-as-a-service (SaaS) and equipment-as-a-service (EaaS). The Software-as-a-Service segment dominated the global agriculture technology-as-a-service market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).
The global agriculture technology-as-a-service market (on the basis of technology) is segmented into data analytics and intelligence, guidance technology, sensing technology, variable rate technology, and other technologies. The data analytics and intelligence segment dominated the global agriculture technology-as-a-service market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).
The global agriculture technology-as-a-service market (on the basis of application) is segmented into yield mapping and monitoring, soil management, crop health management, navigation and positioning, and other applications. The yield mapping and monitoring segment dominated the global agriculture technology-as-a-service market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).
The global agriculture technology-as-a-service market by region is segregated under four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions is provided by country.
Key Companies in the Agriculture Technology-as-a-Service Industry
The key market players in the global agriculture technology-as-a-service market include Trimble Inc., Deere & Company, AGCO Corporation, CNH Industrial N.V., Accenture plc, Airbus S.A.S., AT&T Inc., Raven Industries, Topcon Corporation, SGS S.A., Intertek plc, Taranis, PrecisionHawk, Naio Technologies, IBM Corporation, and Microsoft Corporation, among others.
Countries Covered • North America • U.S. • Canada • Rest-of-North America • Europe • Germany • U.K. • France • Italy • Rest-of-Europe • Asia-Pacific • Australia • Japan • China • India • Rest-of-Asia-Pacific • Rest-of-the-World (RoW) • Brazil • Argentina • Israel • South Africa • Rest-of-RoW
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