PUBLISHER: Allied Market Research | PRODUCT CODE: 1239602
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239602
Farming as a service refers to using technologies such as machine learning and the internet of things in yield monitoring and collecting weather data. After the collection of data on these metrics, various algorithms are applied on these metrics to gather meaningful insights and analytics. These insights are used to boost the farm's production and address any shortcomings that can be adjusted to get a higher level of productivity. Farming as a services converts fixed upfront costs for farmers into variable ongoing costs, making the techniques more affordable for the majority of small farmers.
Gaining popularity of internet of things (IoT) in agriculture sector is driving the farming as a service market growth. Farmers have benefitted from the expanding usage of internet of things (IoT) technology in agriculture by receiving real-time help through loT applications. Moreover, farmers can respond to substantial changes in air efficiency, humidity, and weather thanks to the agricultural sector's extensive use of loT technology. In addition, adoption of advanced technologies in agricultural products and reduced energy consumption and cost effectiveness. Thus, these factors drives the growth of the farming as a service market size. However, need for continuous internet connection is hampering the growth of the farming as a service market. On the contrary, the increasing number of agritech start-ups will provide major lucrative opportunities for growth of the farming as a service market.
Farming as a service market is segmented on the basis of service type, delivery model, end user, and region. By service type, it is segmented into farm management solutions, production assistance and access to markets. By delivery model, it is segmented into subscription and pay-per-use. By end user, it is segmented into farmers, governments, corporate, financial institutions and advisory bodies. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the farming as a service market such as Apollo Agriculture, Deere & Company, Trimble Inc., Mahindra & Mahindra Ltd., SGS Societe Generale de Surveillance SA, Accenture, Taranis, Precision Hawk, BigHaat.com and 63Ideas Infolabs Private Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the farming as a service market share.