Farming As A Service Market
Farming As a Service Market Forecasts to 2030 - Global Analysis By Service (Production Assistance, Access to Markets, Farm Management Solutions and Other Services), Delivery Model, End User and By Geography
According to Stratistics MRC, the Global Farming as a Service Market is accounted for $3.63 billion in 2023 and is expected to reach $8.81 billion by 2030 growing at a CAGR of 13.5% during the forecast period. Farming as a Service (FaaS) is a model where agricultural resources, such as land, equipment, and expertise, are provided to individuals or organizations on a subscription or pay-per-use basis. FaaS integrates technology, like IoT sensors and data analytics, to optimize crop production, monitor environmental conditions, and manage resources efficiently.
Market Dynamics:
Driver:
Government support and policies
Many governments recognize the importance of modernizing agriculture to address challenges such as food security, environmental sustainability, and rural development. These initiatives may include financial incentives such as subsidies or grants for farmers to invest in FaaS solutions and tax breaks for agri-tech start-ups. Furthermore, by incentivizing farmers to adopt these practices, governments aim to improve agricultural productivity, reduce environmental impact, and thereby drive market growth.
Restraint:
Initial investment costs
For many farmers, especially in developing regions, the high upfront costs pose a significant barrier to entry into the FaaS market. The initial investment costs encompass various factors, including the purchase or lease of hardware such as sensors, drones, and precision agriculture equipment. Moreover, the uncertain return on investment and long payback periods may deter farmers from committing to FaaS solutions and hamper the market size.
Opportunity:
Technological advancements
Innovations in agricultural technology, including Internet of Things (IoT) sensors, artificial intelligence (AI), robotics, and data analytics, enable the implementation of precision agriculture techniques. This data is then analyzed using advanced analytics and machine learning algorithms to provide actionable insights for optimizing farming operations. Additionally, the development of precision agriculture technologies allows farmers to apply inputs, which is driving this market further.
Threat:
Lack of education
Many farmers, particularly in rural and developing regions, may lack access to formal education or training opportunities related to modern agricultural technologies and practices. This educational gap hampers their ability to understand the potential benefits of FaaS solutions. Additionally, a lack of education can hinder farmers' ability to effectively utilize the data and insights provided by FaaS technologies.
Covid-19 Impact
The COVID-19 pandemic has had negative impacts on the Farming as a Service (FaaS) market globally. The pandemic has impacted labor availability, particularly in regions reliant on migrant workers for farm labor. Travel restrictions and health concerns have limited the mobility of workers, leading to labor shortages during critical periods such as planting and harvesting seasons. Moreover, movement restrictions and border closures have hindered the transportation of goods and this market expansion.
The farm management solutions segment is expected to be the largest during the forecast period
The farm management solutions segment is estimated to hold the largest share due to its crucial role in offering farmers access to these advanced tools and capabilities without the need for substantial upfront investment in technology infrastructure. Key components include crop monitoring through satellite imagery or drones, soil health analysis, weather forecasting, and precision irrigation systems. Furthermore, these tools leverage data analytics and machine learning algorithms to provide actionable insights for decision-making and drive this segment.
The subscription segment is expected to have the highest CAGR during the forecast period
The subscription segment is anticipated to have highest CAGR during the forecast period. This segment revolves around offering comprehensive packages that include access to various resources and technologies essential for modern farming practices. Subscription-based FaaS offerings typically encompass a range of services, such as land leasing, equipment rental, crop monitoring, and data analytics. Moreover, these technologies enable farmers to monitor crop health and mitigate risks, which are boosting this segment’s growth.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period owing to various factors, including population growth, urbanization, and the increasing demand for food security and sustainability. The Asia Pacific region is witnessing a surge in demand for farm management solutions and agricultural advisory services to enhance productivity and profitability. Moreover, the rise of smart farming initiatives and government support for agricultural modernization further propel the growth of the FaaS market in Asia Pacific.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to the need for sustainable agricultural practices, increasing consumer demand for traceability and transparency in food production, and advancements in agricultural technology. Moreover, the European Union's Common Agricultural Policy (CAP) and initiatives promoting sustainable agriculture, biodiversity, and rural development are driving the adoption of FaaS solutions across the region.
Key players in the market
Some of the key players in the Farming as a Service Market include Accenture, Deere & Company, IBM, Trimble Inc., ITC, AGCO Corporation, CNH Industrial N.V., Bayer AG, Precision Hawk, Apollo Agriculture, Syngenta AG, Taranis and Mahindra & Mahindra Ltd.
Key Developments:
In January 2024, The GSMA and IBM announced a new collaboration to support the adoption and skills of generative artificial intelligence (AI) in the telecom industry through the launch of GSMA Advance's AI Training program and the GSMA Foundry Generative AI program.
In October 2023, IBM announced an expansion of its relationship with Amazon Web Services to help more mutual clients operationalize and derive value from generative artificial intelligence (AI).
In January 2023, Taranis announced the official launch of AcreForward, a new solution designed to assist ag retailers in driving more value from each acre of land. The solution was designed to provide unparalleled leaf-level data regarding growers’ crops at a higher frequency throughout the season and cash in on the potential in each acre, including new insights into carbon sequestration and soil health.
Services Covered:
• Production Assistance
• Access to Markets
• Farm Management Solutions
• Other Services
Delivery Model Covered:
• Subscription
• Pay-per-Use
End Users Covered:
• Advisory Bodies
• Corporate
• Farmers
• Financial Institutions
• Governments
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Farming As a Service Market, By Service
5.1 Introduction
5.2 Production Assistance
5.3 Access to Markets
5.4 Farm Management Solutions
5.5 Other Services
6 Global Farming As a Service Market, By Delivery Model
6.1 Introduction
6.2 Subscription
6.3 Pay-per-Use
7 Global Farming As a Service Market, By End User
7.1 Introduction
7.2 Advisory Bodies
7.3 Corporate
7.4 Farmers
7.5 Financial Institutions
7.6 Governments
7.7 Other End Users
8 Global Farming As a Service Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Accenture
10.2 Deere & Company
10.3 IBM
10.4 Trimble Inc.
10.5 ITC
10.6 AGCO Corporation
10.7 CNH Industrial N.V.
10.8 Bayer AG
10.9 Precision Hawk
10.10 Apollo Agriculture
10.11 Syngenta AG
10.12 Taranis
10.13 Mahindra & Mahindra Ltd.
List of Tables
1 Global Farming As a Service Market Outlook, By Region (2021-2030) ($MN)
2 Global Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
3 Global Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
4 Global Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
5 Global Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
6 Global Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
7 Global Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
8 Global Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
9 Global Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
10 Global Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
11 Global Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
12 Global Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
13 Global Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
14 Global Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
15 Global Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
16 Global Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
17 North America Farming As a Service Market Outlook, By Country (2021-2030) ($MN)
18 North America Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
19 North America Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
20 North America Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
21 North America Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
22 North America Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
23 North America Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
24 North America Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
25 North America Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
26 North America Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
27 North America Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
28 North America Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
29 North America Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
30 North America Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
31 North America Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
32 North America Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
33 Europe Farming As a Service Market Outlook, By Country (2021-2030) ($MN)
34 Europe Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
35 Europe Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
36 Europe Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
37 Europe Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
38 Europe Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
39 Europe Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
40 Europe Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
41 Europe Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
42 Europe Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
43 Europe Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
44 Europe Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
45 Europe Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
46 Europe Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
47 Europe Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
48 Europe Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
49 Asia Pacific Farming As a Service Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
51 Asia Pacific Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
52 Asia Pacific Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
53 Asia Pacific Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
54 Asia Pacific Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
55 Asia Pacific Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
56 Asia Pacific Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
57 Asia Pacific Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
58 Asia Pacific Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
59 Asia Pacific Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
60 Asia Pacific Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
61 Asia Pacific Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
62 Asia Pacific Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
63 Asia Pacific Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
64 Asia Pacific Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
65 South America Farming As a Service Market Outlook, By Country (2021-2030) ($MN)
66 South America Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
67 South America Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
68 South America Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
69 South America Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
70 South America Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
71 South America Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
72 South America Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
73 South America Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
74 South America Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
75 South America Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
76 South America Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
77 South America Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
78 South America Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
79 South America Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
80 South America Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
81 Middle East & Africa Farming As a Service Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Farming As a Service Market Outlook, By Service (2021-2030) ($MN)
83 Middle East & Africa Farming As a Service Market Outlook, By Production Assistance (2021-2030) ($MN)
84 Middle East & Africa Farming As a Service Market Outlook, By Access to Markets (2021-2030) ($MN)
85 Middle East & Africa Farming As a Service Market Outlook, By Farm Management Solutions (2021-2030) ($MN)
86 Middle East & Africa Farming As a Service Market Outlook, By Other Services (2021-2030) ($MN)
87 Middle East & Africa Farming As a Service Market Outlook, By Delivery Model (2021-2030) ($MN)
88 Middle East & Africa Farming As a Service Market Outlook, By Subscription (2021-2030) ($MN)
89 Middle East & Africa Farming As a Service Market Outlook, By Pay-per-Use (2021-2030) ($MN)
90 Middle East & Africa Farming As a Service Market Outlook, By End User (2021-2030) ($MN)
91 Middle East & Africa Farming As a Service Market Outlook, By Advisory Bodies (2021-2030) ($MN)
92 Middle East & Africa Farming As a Service Market Outlook, By Corporate (2021-2030) ($MN)
93 Middle East & Africa Farming As a Service Market Outlook, By Farmers (2021-2030) ($MN)
94 Middle East & Africa Farming As a Service Market Outlook, By Financial Institutions (2021-2030) ($MN)
95 Middle East & Africa Farming As a Service Market Outlook, By Governments (2021-2030) ($MN)
96 Middle East & Africa Farming As a Service Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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