The Impact Of Increasing Food Consumption On The Farming As A Service Market: Strengthening the Growth Trajectory of the Farming As A Service Market

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What Is the Expected CAGR for the Farming As A Service Market Through 2025?_x000D_
In recent times, there has been a swift expansion in the market size of farming as a service. Projected to inflate from $4.95 billion in 2024 to $5.85 billion in 2025, the compound annual growth rate (CAGR) is set at 18.1%. The historic growth period can be credited to the amplification in farm productivity, heightened usage of IoT devices, a growing demand for sustainable farming methods, an increased interest in vertical farming, and a surge in the requirement for farm automation._x000D_
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What's the Projected Size of the Global Farming As A Service Market by 2029?_x000D_
In the coming years, the market size of farming as a service is anticipated to experience rapid expansion. The market is projected to reach $11.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.7%. Factors contributing to this anticipated growth in the forecast period include the escalating demand for precision farming, increased government initiatives and subsidies, a rising necessity for food security, a growing call for sustainable farming practices, and an increased application of contemporary farming methods. Key trends predicted for the forecast period are advances in technology, the inclusion of artificial intelligence, precision farming, IoT gadgets, and intelligent greenhouses._x000D_
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Top Growth Drivers in the Farming As A Service Industry: What's Accelerating the Market? _x000D_
The surge in food consumption is forecasted to stimulate the enhancement of the farming as a service market. The rise can be attributed to escalating global populations, increasing incomes, and alterations in diet choices and life practices. Farming as a service (FaaS) offers admission to cutting-edge technologies such as precision agricultural apparatus, which maximize the utilization of water, fertilizers, and pesticides. This culminates in improved crop yields and diminished waste, authorizing farmers to produce additional food with less resources. For instance, in April 2024, a report from the United States Department of Agriculture, a US government entity, stated that global food consumption touched roughly 2.5 billion metric tons in 2021, where bread and cereal products were the most consumed category. Moreover, the agriculture, food, and correlated industries contributed around $1.530 trillion towards the U.S. gross domestic product (GDP) in 2023, making up nearly 5.6% of the aggregate. Hence, the boost in food consumption is fueling the expansion of the farming as a service market._x000D_
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What Trends Will Shape the Farming As A Service Market Through 2029 and Beyond?_x000D_
Key players in the farming as a service market are prioritizing the creation of technologically superior solutions like farm management software to boost and simplify agricultural procedures. Farm management software is a digital tool designed to aid farmers in planning, supervising, and evaluating farm tasks, enhancing efficiency, resource allocation, and informed decision-making based on pertinent data. For instance, Bushel Inc., an American software venture, unveiled the Bushel Farm management software in March 2023, setting a new standard in farm management tools for farm owners and their agricultural partners. Bushel Farm significantly lowers the need for manual data entry through its harmonisation with Bushel's FarmLogs solution. This unique characteristic allows farmers to seamlessly import grain sales information from multiple grain providers utilizing Bushel remedies. Rather than spending extensive hours manually recording data from contracts or weight tickets, farmers can now automate the procedure with minimal effort. This software is designed to smooth out contract management by automatically filling in contract specifics, streamlining the process and saving farmers precious time._x000D_
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What Are the Main Segments in the Farming As A Service Market?_x000D_
The farming as a servicemarket covered in this report is segmented - _x000D_
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1) By Services: Farm Management Solutions, Production Assistance, Access To Markets_x000D_
2) By Delivery Model: Subscription, Pay-Per-Use_x000D_
3) By End User: Farmers, Government , Corporate, Financial Institutions, Advisory bodies_x000D_
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Subsegments:_x000D_
1) By Farm Management Solutions: Farm Planning Software, Crop Monitoring Solutions, Irrigation Management Systems, Data Analytics and Reporting Tools, Livestock Management Software _x000D_
2) By Production Assistance: Consulting Services, Technical Support Services, Training And Education Programs, Equipment Leasing And Rental Services, Input Supply Services _x000D_
3) By Access To Markets: E-commerce Platforms for Farmers, Market Linkage Services, Supply Chain Management Solutions, Direct-To-Consumer Sales Platforms, Export Facilitation Services _x000D_
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Which Top Companies are Driving Growth in the Farming As A Service Market?_x000D_
Major companies operating in the farming as a service market are Mahindra & Mahindra Limited, Trimble Inc., Ninjacart, Topcon Corporation, Raven Industries Inc., Granular Inc., RML AgTech, Figured Limited, Farmers Edge Inc., Agworld Pty Ltd., Conservis Corporation, FarmLogs Inc., AgriWebb, Solinftec, Farmplan, EM3 Agri Services Pvt Ltd., Synnefa, AGRIVI, Farmbrite, Agroptima SL, Traction Ag Inc., Grownetics Inc., Harvest Profit, Croptracker Inc. _x000D_
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Which Regions Will Dominate the Farming As A Service Market Through 2029?_x000D_
North America was the largest region in the farming as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the farming as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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