As per current published report by Markntel Advisors the Farming as a Service Market is estimated to grow at a CAGR of around 15.3% during the forecast period, i.e., 2023-28.
A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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Growing Need for Technologically Advanced Agricultural Practices:
With the increasing rate of global warming & conditions like early or delayed rains, cyclones, heavy floods, droughts, etc., farmers are unable to predict climatic changes. As a result, their dependence on conventional agricultural practices leads them toward production losses and disruption in the supply chain. However, the utilization of data-driven farming practices using technologies like the Internet of Things & AI is said to help reduce the risk of crop failures.
Moreover, it shall also help farmers attain necessary information about their farms like soil type, nutritional value, weather conditions, optimal amount of water, pesticides, etc. Furthermore, these services entwined with the rising government support for FaaS models shall enable farmers to enhance their crop production & reduce mental pressure, which, in turn, would significantly reduce farmer suicide cases. Hence, the aspects cited above are projected to drive the Global Farming as a Service Market during 2023-28.
The Farming as a Service Market has segmented the market into the following categories:
Based on Solution
– Farm Management
— Information Sharing
— Analytics
— Precision Farming Tools
– Production Assistance
— Equipment Rentals
— Labor Services
— Utility Services
– Access to Markets
Based on Delivery Model
– Pay-per-use
– Subscription
Based on End Users
– Farmers
– Government
– Corporate
– Financial Institutions
– Advisory Bodies
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-By Region
– North America
– South America
– Asia-Pacific
– Middle East & Africa
– Europe
Competitive Environment Featuring Key Players:
Trimble Inc., Em3 Agri Services Pvt. Ltd., Apollo Agriculture, John Deere, Accenture, SGS Société Générale de Surveillance SA, Taranis, , PrecisionHawk, IBM, ITC Limited, Ninjacart, Mahindra and Mahindra Limited , AGRIVI, Hexagon Agriculture, Other.
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-A geographical analysis that shows how the product or service is used in each area and what factors are influencing the market in that particular area
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-The present and projected market outlook in light of recent changes, which include growth prospects and drivers as well as obstacles and constraints in both developed and emerging regions
-Using Porter’s Five Forces approach, provides a thorough examination of the market from a variety of angles.
-Uses the value chain to offer market intelligence.
-The state of the market dynamics and potential for future market expansion
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