Farming as a Service Market Booming Worldwide with Latest Trend and Future Scope by 2025

According to the report, the global farming as a service industry generated $2.9 billion in 2021, and is estimated to reach $12.8 billion by 2031, witnessing a CAGR of 16.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Adopting advanced technologies in agricultural products, the popularity of Internet of Things (IoT) in agriculture and reducing energy consumption and cost-effectiveness are the major growth factors for the market.

However, lack of technical awareness and high initial investments and need for continuous internet are the major factors hampering the growth of the market. On the contrary, increase in number of agritech start-ups will provide lucrative opportunities for the growth of the market in the upcoming years.

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Covid-19 scenario:

• The COVID-19 pandemic had a positive impact on the farming as a service market, owing to the farm management solutions such as precision farming tools and analytics gained more relevance in the wake of the pandemic as they allowed remote monitoring of several addition parameters such as yield monitoring, pest prevention, and irrigation.

On the basis of service type segment, the farm management solutions segment held the largest market share in 2021 due to rise in internet penetration and rise in acceptance of farming solutions by end users such as farmers.

Based on region, North America attained the highest revenue in 2021 due to increasing acceptance of smart farming methods, which has led to an increase in the use of farming as a service model across the region.

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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 Société Générale de Surveillance SA, 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 farming as a service market share.

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Key benefits for stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the farming as a service market analysis from 2021 to 2031 to identify the prevailing farming as a service market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the farming as a service market segmentation assists to determine the prevailing market opportunities.

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