US Farming As A Service Market is valued approximately USD 1.19 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.02% over the forecast period 2024-2032. Farming As A Service (FaaS) is a revolutionary agricultural paradigm that reimagines the way farmers gain access to critical resources and support. This unique strategy comprises offering farmers a broad spectrum of agricultural services and information via subscription or pay-per-use models. FaaS transforms traditional farming processes by leveraging digital technologies and data-driven methodologies, empowering farmers to be more efficient and productive. Furthermore, expansion of digital farming solutions is gaining attention towards US Farming As A Service Market. FaaS providers are offering integrated digital solutions that streamline farm operations, enhance decision-making processes, and enable farmers to monitor and manage their operations remotely.
US Farming As A Service Market is driven by increasing adoption of smart farming methods and access to large agricultural land across the region. USDA grants and programs provide financial incentives, such as subsidies, grants, and low-interest loans, to farmers who invest in smart farming technologies. These incentives help offset the initial costs associated with purchasing and implementing smart farming solutions, making them more accessible and affordable for farmers. In addition, large agricultural land holdings often involve diverse soil types, microclimates, and environmental conditions. faas providers offer precision agriculture solutions that enable farmers to optimize resource use, including water, fertilizers, and pesticides, based on site-specific conditions. The Conservation Reserve Program allows landowners to take land out of production for environmental benefits. The "Transition Incentives Program" within CRP incentivizes selling or leasing CRP land to beginning farmers, potentially creating opportunities for FaaS models. However, high cost of Farming As A Service and lack of awareness among farmers is going to impede the overall demand for the market during the forecast period 2024-2032.
Major market player included in this report are:
Deere & Company
Trimble Inc
PrecisionHawk Inc
International Business Machines Corporation
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10
The detailed segments and sub-segment of the market are explained below:
By Service
Farm Management Solutions
Production Assistance
Access to Markets
By Delivery Model
Subscription
Pay-per-Use
By End-user
Farmers
Government
Corporate
Financial Institutions
Advisory Bodies
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
