Press Release

The Agriculture Technology-as-a-Service Market Is Estimated To Record a CAGR of Around 16.88% During The Forecast Period

Global generative AI market

Evolve Business Intelligence has published a research report on the Global Agriculture Technology-as-a-Service Market, 2023–2033. The global Agriculture Technology-as-a-Service market is projected to exhibit a CAGR of around 16.88% during the forecast period of 2023 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Agriculture Technology-as-a-Service Market: IBM Corporation, Hexagon Agriculture, Microsoft Corporation, Topcon, 365FarmNet GmbH, PrecisionHawk, Trimble Inc, Deere & Company, DJI, KUBOTA Corporation.

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Market Highlights

The Agriculture Technology-as-a-Service market is projected to be valued at USD 5.78 Billion by 2033, recording a CAGR of around 16.88% during the forecast period. Agriculture Technology-as-a-Service” (Agri-TaaS) refers to a business model in the agricultural industry where technology solutions and services are provided to farmers and agricultural businesses on a subscription or pay-per-use basis. It involves offering a range of agricultural technologies, tools, and platforms as a service, similar to software-as-a-service (SaaS) models. Agri-TaaS providers deliver comprehensive packages that include hardware, software, data analytics, and support services to help farmers optimize their operations, increase productivity, and make data-driven decisions.

The COVID-19 pandemic had a profound and enduring effect on the Agriculture Technology-as-a-Service (Agri-TaaS) market. As the pandemic disrupted global food supply chains and highlighted the need for resilient and efficient agricultural systems, there was an increased focus on digital solutions to address these challenges. Agri-TaaS providers experienced a surge in demand as farmers sought technology-driven tools to optimize their operations, improve supply chain visibility, and ensure food security. The pandemic acted as a catalyst for the adoption of Agri-TaaS, accelerating the digital transformation in agriculture and driving innovation in areas such as remote sensing, precision agriculture, and data analytics. The market witnessed increased investments, collaborations, and partnerships to develop and deploy advanced Agri-TaaS solutions, shaping the future of sustainable and technology-enabled agriculture.

Segmental Analysis

The global Agriculture Technology-as-a-Service market has been segmented based on Service Type, Pricing, Application, and region.

Based on the Service Type, the Agriculture Technology-as-a-Service market is segmented based on Software-as-a-Service (SaaS), Equipment-as-a-Service (EaaS). Software-as-a-Service (SaaS) is expected to have the largest market share throughout the forecast period, while Equipment-as-a-Service (EaaS) is expected to grow at the fastest rate.

Based on Pricing, the global 5G in the Healthcare market has been divided into Subscription, Pay-Per-Use. The Subscription segments are anticipated to dominate the market.

Based on the Application, the global Agriculture Technology-as-a-Service market has been divided into Yield Mapping and Monitoring, Soil Management and Testing, Crop Health Monitoring, Irrigation, and Others. The Yield Mapping and Monitoring segments are anticipated to dominate the market.

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Regional Analysis

The Agriculture Technology-as-a-Service market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America region includes the United States and Canada, where there is significant adoption of advanced agricultural technologies and a strong focus on precision farming, farm management systems, and data-driven decision-making in agriculture. European countries such as Germany, France, the United Kingdom, and the Netherlands have been at the forefront of adopting Agri-TaaS solutions. The region emphasizes sustainable farming practices, smart agriculture, and the use of digital technologies to optimize crop production and resource management. Asia-Pacific Countries like China, India, Japan, and Australia play a significant role in the Agri-TaaS market in the Asia-Pacific region. Rapid population growth, increasing demand for food, and the need for efficient agricultural practices drive the adoption of technology solutions in this region. Brazil, Argentina, Mexico, and other Latin American countries have a strong presence in the Agri-TaaS market. The region’s vast agricultural land, diverse crops, and growing need for modern farming practices contribute to the demand for technology services in agriculture. Middle Eastern countries such as Israel, Saudi Arabia, and the United Arab Emirates have embraced Agri-TaaS to overcome the challenges of water scarcity and arid environments. These countries focus on precision irrigation, vertical farming, and smart agriculture solutions.

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