According to Inkwood Research, the Global Agriculture Technology as a Service Market is expected to grow at a CAGR of 17.37% over the forecasting period of 2023-2032.
“Browse 48 Market Data Tables and 48 Figures spread over 228 Pages, along with an in-depth TOC on the Global Agriculture Technology as a Service Market Forecast 2023-2032.”
Agriculture Technology as a Service (ATaaS) represents a modern agricultural technology that uses cutting-edge technology solutions to enhance diverse facets of farming operations. This approach entails delivering agricultural technology and services through subscription models or pay-per-use arrangements, affording farmers the opportunity to harness state-of-the-art tools and expertise without significant upfront investments.
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Growing Demand for Global Food Production to Drive Market Growth
Agriculture technology services are experiencing global adoption to enhance agricultural productivity. Among the notable technology services adopted by farmers globally are farm management software, agricultural drones, agricultural robots, precision irrigation equipment, and remote sensing solutions. The provision of agriculture technology as a service helps alleviate financial barriers for farmers seeking to embrace technology in order to meet the growing global food production demands.
Yield Mapping and Monitoring: Highest Revenue-Generating Application in 2022
Yield monitoring and mapping is the process of systematic collection of geo-referenced data and associated crop yield information, facilitating the mitigation of potential risks and the optimization of economically viable opportunities for users. This precision crop farming service generates detailed yield maps that offer insights into spatial variability, enabling informed management decisions for agricultural producers.
Asia-Pacific to Rise with Highest CAGR by 2032
The Asia-Pacific region is emerging as a significant player in agriculture technology as a service market, offering substantial prospects for global industry players. This expansion is anchored by the presence of rapidly growing economies in the region. The projected timeframe anticipates strong growth, predominantly propelled by escalating urbanization trends and heightened government backing for the adoption of advanced agricultural instruments.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.