Global Farming As A Service Market is valued approximately USD 4.05 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.0% over the forecast period 2024-2032. Farming As A Service (FaaS) represents a transformative model in agriculture, redefining how farmers access essential resources and support. This innovative approach entails providing farmers with a comprehensive suite of agricultural services and resources through subscription or pay-per-use arrangements. Through harnessing the power of digital technologies and data-driven methodologies, FaaS revolutionizes traditional farming practices, empowering farmers with enhanced efficiency and productivity. Furthermore, rising focus towards data-driven decision making are gaining attention towards Global Farming As A Service Market. Farmers increasingly rely on data analytics and insights provided by FaaS platforms to make informed decisions about crop management, irrigation, pest control, and other aspects of farming. Data-driven decision-making helps optimize farm operations and maximize productivity.
Global Farming As A Service Market is driven by increasing adoption of modern agricultural techniques and rising demand for food across the world. Farming as a Service (FaaS) platforms leverage modern agricultural techniques by providing farmers with access to a suite of digital tools, technologies, and services tailored to optimize their farming operations. These platforms offer solutions for precision agriculture, data analytics, farm management, equipment rentals, and more, empowering farmers to adopt and implement modern techniques effectively. In addition, FaaS solutions offer tools and technologies that enable farmers to enhance productivity and efficiency, thereby helping to meet the rising demand for food. 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.
The key regions considered for the Global Farming As A Service market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market in terms of revenue owing to factors such as increasing adoption of smart farming methods and access to large agricultural land across the region. FaaS platforms facilitate the integration and interoperability of various smart farming technologies and data sources, providing farmers with a unified and holistic view of their operations. By consolidating data from diverse sources such as sensors, drones, weather stations, and historical records, FaaS enables farmers to make informed decisions based on comprehensive insights and analytics. Furthermore, the market in Asia Pacific, on the other hand, is expected to grow at the fastest rate over the forecast period.
Major market player included in this report are:
Mahindra & Mahindra Limited
Deere & Company
ITC Limited
Trimble Inc
EM3 AgriServices Pvt Ltd
Apollo Agriculture Limited
Accenture plc
Taranis Visual Ltd
PrecisionHawk Inc
International Business Machines Corporation
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
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
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 regional 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.
