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Global Farming as a Service Market Research Report: Forecast (2021-2026)

  • ID: 5439656
  • Report
  • August 2021
  • Region: Global
  • 210 Pages
  • MarkNtel Advisors LLP

FEATURED COMPANIES

  • Accenture
  • Apollo
  • EM3
  • IBM
  • John Deere
  • PrecisionHawk
Farming as a Service (FaaS) provides innovative & professional-grade solutions for agriculture and associated services through a pay-per-use or subscription model. It further enables stakeholders to make data-driven decisions to enhance efficiency and productivity.

The “Global Farming as a Service Market” is likely to grow at a CAGR of around 15.3% during the forecast period, i.e., 2021-26, says the author. The market growth primarily attributes to the rising need to adopt advanced agriculture technologies to boost productivity. Farming as a Service helps convert capital expenditure into operational expenditure for customers, thereby making the technique affordable for most small farmers. Also, it is beneficial in enhancing customer retention for service providers.

The research report, “Global Farming as a Service Market Analysis, 2021,” states that added benefits offered by FaaS, including scalability and lower costs, are likely to contribute significantly to Farming as a Service Market across the globe.

Impact of COVID-19 Pandemic on Global Farming as a Service Market


The outbreak of the COVID-19 pandemic has led to a significant downturn in the general economy. The Agriculture industry witnessed a marginal dip in the growth amidst the pandemic. Also, lockdown and movement restrictions resulted in supply chain disruptions across different verticals, such as forestry, precision farming, and livestock monitoring, affecting the farmer's income.

However, stable demand for agricultural products and various initiatives taken by governments to provide benefits & security to farmers are the crucial factors fueling the overall market growth during the ongoing pandemic. Hence, these factors shall support the overall market growth in the coming future.

Market Segmentation


Government Sector Dominated the Global Farming as a Service Market with Largest Share


Based on the End-User, the market bifurcates into Farmer, Government, Corporates, Financial Institution, and Advisory Bodies. Of these segments, the Government sector acquired the largest share of the Global Farming as a Service Market in the previous few years.

Governments have started adopting FaaS solutions to assist farmers in enhancing productivity & efficiency. It can also help overcome the challenges faced by the farmers, such as lack of access to technology, dependence on rainwater for irrigation, high cost of machinery, and low financing.

Besides these, the influx in the government spending to support the FaaS startups & propel the adoption of pay-per-use services among the farmers is likely to promulgate the growth of the Farming as a Service market globally in the coming years cites the authors in their research report “Global Farming as a Service Market Analysis, 2021”.

Production Assistance Captured the Significant Share of Global Farming as a Service Market


Based on the Solution, the market bifurcates into Farm Management, Production Assistance, and Access to Markets. Of these three, Production Assistance held the largest share of the Global Farming as a Service Market in the past few years.

The segment growth owes to the rising inclination of the farmers toward the farm assistance services, such as rental equipment to use machinery at an affordable rate and utility services, including irrigation & off-grid power service to enhance productivity.

In addition, the surging investment in the startups such as EM2 and the launch of production assistance solutions by major industry players such as John Deere and TAFE positively impact the overall growth of the Farming as a Service market in the forthcoming period.

Regional Landscape


North America Attained the Largest Market Share


Geographically, North America has dominated the Global Farming as a Service Market in the previous few years. It is due to the presence of industry players with best-in-class equipment and service to offer. Further, surging demand for advanced technology & devices to support the growth of agribusinesses and rising awareness regarding the quality of crops provides lucrative opportunities to drive the market in the North America region.

Market Driver


Rising Internet Penetration Across Rural Areas to Boost the Market Growth


The fast internet connectivity offers many benefits to the farmers and helps them optimize various inputs in farming activities, such as seeds, fertilizers, and soil. Also, it is beneficial in minimizing waste, which further leads to cost reduction.

Further, with the improving internet connectivity in rural areas, the adoption of FaaS shall increase significantly in the coming future owing to its numerous benefits, such as increased productivity and efficiency through data-driven decisions.

Market Challenge


Management of Large Volumes of Data for Better Data-Driven Decision Making Might Hinder the Market Growth


Data Management is the biggest challenge faced by many end-users. The data obtained from farms using advanced technologies are very crucial as it helps farmers make appropriate decisions. Hence, the data must be stored & managed properly for enhancing farming efficiency. However, management of a large pool of data is a challenging task that could restrain the market growth.

Competitive Landscape


According to the publishers, the leading industry players in the Global Farming as a Service market are Trimble, Em3, Apollo, John Deere, Accenture, SGS, Taranis, PrecisionHawk, IBM etc.

Key Questions Answered in the Market Research Report:


1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Farming as a Service Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Farming as a Service Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Farming as a Service Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Farming as a Service Market study?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accenture
  • Apollo
  • EM3
  • IBM
  • John Deere
  • PrecisionHawk
1. Introduction
1.1. Market Segmentation
1.2. Product Definition
1.3. Research Process
1.4. Assumptions

2. Executive Summary

3. Farming as a Service Overview

4. Farming as a Service Start-ups Ecosystem

5. Expert Verbatim- What our Experts Say?

6. Global Farming as a Service Market Analysis, 2016-2026F
6.1. Market Size & Analysis
6.2. Market Share & Analysis
6.3. Market Attractiveness Index

7. North America Farming as a Service Market Analysis, 2016-2026F
7.1. Market Size & Analysis
7.2. Market Share & Analysis
7.3. Market Attractiveness Index

8. South America Farming as a Service Market Analysis, 2016-2026F
8.1. Market Size & Analysis
8.2. Market Share & Analysis
8.3. Market Attractiveness Index

9. Asia-Pacific Farming as a Service Market Analysis, 2016-2026F
9.1. Market Size & Analysis
9.2. Market Share & Analysis
9.3. Market Attractiveness Index

10. Middle East & Africa Farming as a Service Market Analysis, 2016-2026F
10.1. Market Size & Analysis
10.2. Market Share & Analysis
10.3. Market Attractiveness Index

11. Europe Farming as a Service Market Analysis, 2016-2026F
11.1. Market Size & Analysis
11.2. Market Share & Analysis
11.3. Market Attractiveness Index

12. Global Farming as a Service Market Policies, Regulations, Product Standards

13. Global Farming as a Service Market Trends & Insights

14. Global Farming as a Service Market - Customers Key Decision Making Factors

15. Global Farming as a Service Market Dynamics
15.1. Growth Drivers
15.2. Challenges
15.3. Impact Analysis

16. Global Farming as a Service Market Hotspot & Opportunities

17. Global Farming as a Service Market Key Strategic Imperatives for Success & Growth

18. Competition Outlook
18.1. Competition Matrix
18.2. Companies Solution Matrix
18.3. Company Profiles of top companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)

19. Disclaimer
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Trimble
  • Em3
  • Apollo
  • John Deere
  • Accenture
  • SGS
  • Taranis
  • PrecisionHawk
  • IBM
Note: Product cover images may vary from those shown
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