Global Farming as A Service Market Insights Forecasts to 2033

• The Global Farming as A Service Market Size was Valued at USD 3.09 Billion in 2023
• The Market Size is Growing at a CAGR of 14.87% from 2023 to 2033
• The Worldwide Farming as A Service Market Size is Expected to Reach USD 12.36 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period

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The Global Farming as A Service Market Size is Anticipated to Exceed USD 12.36 Billion by 2033, Growing at a CAGR of 14.87% from 2023 to 2033.

 

Market Overview

Farming as a service is a business strategy that enables farmers to purchase a service on a pay-per-use or subscription basis, providing innovative, professional, and user-friendly agricultural solutions. It is a framework of professional services that provides a variety of agricultural management solutions. Also, it provides farmers with access to a variety of services, including advanced agricultural instruments, analytics, utilities and labor services, equipment rentals, and exposure to a larger audience and markets, among others. Farming as a service provides farmers with easy access to crop production, on-time labor availability, rental of machinery at the appropriate time, and utility services such as irrigation and power supply. Global farming as a service market uses technologies like machine learning, IoT in yield monitoring and collecting weather data. After the collection of data on these metrics, various algorithms are worked on these metrics to gather meaningful insights and analytics. These insights are used in farming management to boost farm production and address deficiencies that can adjust higher-level productivity. Because these solutions integrate technology such as Artificial Intelligence (AI), remote sensing, and data analytics, the data gathered enables farmers to make better & more informed decisions and strategies before time.

 

Report Coverage

This research report categorizes the market for the global farming as a service market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global farming as a service market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global farming as a service market.

 

Driving Factors

The increasing advancement of agricultural technologies to drive the global farming as a service market during the forecast period. The growth can be attributed to several factors such as increasing demand for sustainable farming practices, and efficient & cost-effective farming solutions. Adoption of the farming as a service model offers numerous benefits to farmer it includes reduced capital investment and access to specific expertise for enhanced productivity to boost global farming as a service market across the world. Furthermore, farmers have benefited from the increased usage of IoT technology in agriculture by receiving real-time support using IoT apps. Traditional agriculture practices that use loT solutions save time and money on agricultural resources such as energy, land, and water, allowing farmers to focus on producing high-quality food for their customers. In addition, the smart farming sector is expected to grow as it provides more convenient solutions than traditional methods.

 

Restraining Factors

Lack of technical awareness and understanding of new technologies to hamper the global farming as a service market during the forecast period. Farmers must be trained on how to utilize applications and technology for smart agriculture to be more generally accepted, as many of them are uncomfortable with newer technologies and have a lack of digital literacy. Furthermore, the early investment is restricting the adoption of smart agricultural technologies. In rural areas where internet connectivity is not available or not that smooth it may restrict the market from expansion. These issues are expected to impede market growth over the forecast period.

 

Market Segmentation

The global farming as a service market share is classified into service type, delivery model, and end user.

• The farm management solutions segment is expected to hold the largest share of the global farming as a service market during the forecast period.

Based on the service type, the global farming as a service market is divided into farm management solutions, production assistance, and access to markets. Among these, the farm management solutions segment is expected to hold the largest share of the global farming as a service market during the forecast period. The segmental growth can be attributed to providing high-quality food items to the globe. Increase in internet penetration and increasing in adopting farming solutions by farmers. The farm management solution enhances farming productivity by using tools such as hyperspectral imaging technology, auto-guidance equipment, sensors (to gather information on weather, soil health), and precision irrigation systems, etc.

 

• The subscription segment is expected to hold the largest share of the global farming as a service market during the forecast period.   

Based on the delivery model, the global farming as a service market is divided into subscription and pay-per-use. Among these, the subscription segment is expected to hold the largest share of the global farming as a service market during the forecast period. The subscription services are more cost-effective in the long run because farmers charge more for the pay-per-use model over a longer time. The subscription agreement with farms rent or leasing out farming equipment for a specific period like 3 to 4 months. The subscription services are more useful for farmers because those farmers require equipment only at specific times.

 

• The farmer’s segment is expected to hold the largest share of the global farming as a service market during the forecast period.

Based on the end user, the global farming as a service market is divided into farmers, governments, corporate, financial institutions, and advisory bodies. Among these, the farmer’s segment is expected to hold the largest share of the global farming as a service market during the forecast period. The growth can be due to the farmers use all types of services like farm management solutions, production assistance, and access to markets. Also, they use agricultural marketing, equipment rentals, utility services, and labor services.

 

Regional Segment Analysis of the Global Farming as A Service Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• Latin America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of global farming as a service market over the predicted timeframe.

 

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North America is projected to hold the largest share of global farming as a service market over the predicted timeframe. North American countries increasing the use of automation and control systems as well as the growing adoption of smart farming technology in this region. The growing prevalence of automated machinery, smart crops, livestock monitoring, and drones are helping farmers to improve farm management, adding to regional market growth.

 

Asia Pacific is expected to grow at the fastest pace in the global farming as a service market during the forecast period. The increasing population and growing consumption of food in this region boost farming as a service market. Also, increasing government-friendly policies and increasing food production demand will help the region to hold a notable share over the forecast period.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global farming as a service market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Mahindra and Mahindra
• John Deere
• ITC
• Trimble
• Deere & Company
• SGS Société Générale de Surveillance SA
• EM3
• 63Ideas Infolabs Private Limited
• BigHaat.com
• Apollo Agriculture
• Accenture
• Ninjacart
• Taranis
• Precision Hawk
• IBM
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• January 2023, Panorama, precision planting's newest tool to help farmers use data from their 2020® monitors, was unveiled. The panorama was unveiled on the first day of the company's annual winter conference.

 

• In January 2023, Taranis announced the official launch of AcreForward, a new technology designed to help agricultural retailers get more value out of each acre of land. The solution was developed to provide growers with unparalleled leaf-level data about their crops on a more frequent basis throughout the season, allowing them to capitalize on the potential in each acre, as well as new insights into carbon appropriation and soil healthiness.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global farming as a service market based on the below-mentioned segments: 

 

Global Farming as A Service Market, By Service Type

• Farm Management Solutions
• Production Assistance
• Access to Markets

 

Global Farming as A Service Market, By Delivery Model

• Subscription
• Pay-per-use

 

Global Farming as A Service Market, By End User

• Farmers
• Governments
• Corporate
• Financial Institutions
• Advisory Bodies

 

Global Farming as A Service Market, By Region

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of the Middle East & Africa