Agriculture Technology-as-a-Service Market Size is Expected to total US$ 3796.1 million by 2027

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Market Research Report EXCLUSIVE EDITION
Global Agriculture Technology-as-a- Service
Market Report Opportunities, and Forecast By 2030
Global Industry Analysis, Forecast and Trends,
2022-2030
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Agriculture Technology-as-a-Service Market
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Agriculture Technology-as-a-Service Market 2021
Industry Size, Regions, Emerging Trends, Growth
Insights, Development Scenario, Opportunities,
and Forecast By 2027
Agriculture Technology-as-a-Service Market by
Product (SaaS and EaaS), by Application (Yield
Mapping and Monitoring, Soil Management, Crop
Health Management, Navigation, and Positioning),
by Technology, by Region Global Share and
Forecast to 2027 Description The global
agriculture technology-as-a-service market size
is expected to grow from USD 1,101.6 million in
2020 to USD 3796.1 million by 2027, at a CAGR of
22.9 from 2021 to 2027. Agriculture technologies
are offered as a service for various agriculture
applications covering the entire farming cycle,
including data management, soil management,
yield mapping, monitoring, spraying, harvesting,
and planting. With an estimated 80 million people
being added to the worlds population every year,
the demand for essential ingredients that
fulfill their daily needs, such as food, is
expected to grow manifold. Subsequently,
improvement in the standard of living of the
rising urban population worldwide has led to an
increased demand for fresh crop produce and
animal protein. Increasing demand for food
production globally, along with the pressure of
providing a constant supply of high-quality farm
produce, has formed an alarming situation for the
farmers worldwide, who are struggling to
increase production per hectare. Moreover,
shrinking agricultural lands and scarcity of
availability of natural resources raises the
urgency to resolve the concern.
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The concerns and pressure on the agriculture
industry, factored by the growing demand for
global food production, prompt the growers to
enhance farm profitability despite slowing yield
trends in several staple crops. As advancements
across end-user industries lead to an efficient
world, the agriculture industry gradually
incorporates smart technologies on farms for
profitable farming. With the introduction of
information and communication technologies and
advancements therein in the past decade, the
agriculture industry has witnessed a
revolution. Professionals and experts worldwide
are comparing this revolution with the process in
the previous century when new farm equipment and
machinery, fertilizers, high-yield crops, and
pesticides breeds led to dynamic growth in crop
production around the globe. Request Sample Copy
of this Report https//www.marketstatsville.com/r
equest-sample/agriculture- technology-as-a-servic
e-market High growth in the market is probable
to be driven by the growing need to adapt
agriculture technologies across the industry,
conversion of capital spending into operational
expenditure for customers, and greater customer
retention for facility providers. The extra
benefits of lower costs, integration,
accessibility, and scalability associated with
ATaaS are also anticipated to be responsible for
the reported development of the business model.
Agriculture is the basis of livelihood and
sustenance of the economy in several regions of
the world. Global Agriculture Technology-as-a-Ser
vice Market Dynamics
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Drivers Increasing Demand for Global Food
Production According to the FAO (Food and
Agriculture Organization) projections of the
United Nations (UN), by 2050, the worldwide
population of 9.1 billion people would require
overall food production to double from 2005. In
contrast, the arable land could not be expanded
to more than 5. The demand for food is growing
exponentially, and farmers face constant
pressure from society to keep up with the demand.
With 90 of the growth in the global crop
production being dependent on increased cropping
intensity and higher yields, the role of
agriculture technology practices and equipment
has risen to become a necessity for the
agriculture industry. Agriculture technology
services are being intensively introduced to
improve agricultural productivity. Some of the
prominent technology services utilized by
farmers worldwide include farm management
software, agriculture drones, agriculture
robots, precision irrigation equipment, and
remote sensing. Challenges Price Inflation of
Agricultural Produce The inflation of prices in
the agriculture and food commodity market
directly impacts the income of farmers, which is
flexible, as it depends on the number of products
sold. An increase in the price of inputs for the
grower leads to overall growth in the cost of
supplies sold. Even with government subsidies and
low import duties, costly inputs in agriculture
eventually reflect in the final agricultural
commodity. Higher inflation of food prices causes
low farmer incomes, which ultimately leads to
the farmers cutting down on the costs of
production, which does not fall in line with
high capital investment and maintenance costs of
using agriculture technologies in agriculture.
Governments and associations need to find ways to
allow technological inclusion in agriculture
actively.
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• Opportunities Growth of Agriculture Service
  Economy
• With the exponentially growing population
  worldwide, the subsequent rise in global demand
  for food, depletion of finite natural resources,
  and shrinking agricultural lands, the need to
  enhance farm yield has become critical. Factors
  such as the increase in the urban population in
  developing countries with the enhancement of
  quality of living due to high-income levels and
  increased demand for animal protein and fresh
  crop produce are growing the market for crop
  production. Limited availability of raw materials
  such as fresh water and arable land and slowing
  yield trend in some staple crops have prompted
  farmers and the farming sector to introduce
  innovative and advanced smart agriculture
  techniques and technologies to enhance farm
  profitability. The growth in the agriculture
  service economy can aid entrepreneurs in adopting
  the service business model with opportunities to
  build scalable businesses which can be relevant
  globally. The increase in the number of companies
  and start-ups with agriculture technology-as-a-ser
  vice business models is expected to generate a
  high influx of funds to this sector.
• Scope of the Report
• The study categorizes the agriculture
  technology-as-a-service market based on product,
  application, technology, and regions.
• Direct Purchase Report https//www.marketstatsvil
  le.com/buy-now/agriculture-technology-as-a-service
  - market?opt2950
• By Product Outlook (Revenue, USD Million,
  2017-2027)
• Software-as-a-Service (SaaS)
• Equipment-as-a-Service (EaaS)
• By Application Outlook (Revenue, USD Million,
  2017-2027)
• Yield Mapping and Monitoring
• Soil Management
• Crop Health Management
• Navigation and Positioning
• Others

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The applications can be classified as yield
mapping and monitoring, soil management, crop
health management, navigation positioning,
etc. In terms of value, the yield mapping and
monitoring application dominated the global
agriculture technology-as-a-service market (by
application) in 2020. High market share and
growth potential associated with yield mapping
and monitoring as an agriculture
technology-as-a-service application is attributed
to the growing need to understand the yield
pattern before applying any agriculture
technology and wide adoption of
software-as-a-service business model. Access
full Report Description, TOC, Table of Figure,
Chart, etc https//www.marketstatsville.com/table
-of-content/agriculture-technology-as-a-
service-market Yield mapping products are
comparatively new to the agriculture industry,
thus offering these products as a service allows
the agriculture companies and growers to test the
product's viability through essentially
affordable initial investment. These are a few
primary reasons behind the higher adoption of
yield mapping and monitoring products under the
global agriculture technology-as-a-service
market. Amongst other applications, soil
management is valued at the second position in
terms of the highest market share. Companies
such as SGS and Intertek offer agriculture
technology as a service for soil management.
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Asia Pacific accounts for the highest CAGR during
the forecast period The geographical analysis of
the global agriculture technology-as-a-service
market concerning different regions, namely
North America, Asia-Pacific, Europe, South
America, and the Middle East Africa. Globally,
Asia Pacific is probable to hold the highest CAGR
in the global agriculture technology-as-a-service
market during the forecast period. As per the
United Nations, over 60 of the world's
population lives in the Asia-Pacific region,
which is expected to grow exponentially, leading
to concerns about food insufficiency. In the
Asia-Pacific region, high population growth,
increasing disposable incomes, and increased
urbanization have increased consumption in the
Asia Pacific region. Henceforth, farmers in the
region are now concentrating on rising crop
yields and providing an all-year supply of
agricultural products to satisfy the increasing
demand for food. Several countries in the region
have experienced the growing adoption of
technology. Although the current rate is
sluggish, it is anticipated that acceptance will
increase at a tremendous pace with rising
awareness and growing food demand. Request For
Report Description https//www.marketstatsville.c
om/agriculture- technology-as-a-service-market
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