The farming as a service global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Farming As A Service Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The farming as a service market size has grown rapidly in recent years. It will grow from $4.21 billion in 2023 to $4.95 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to growth in farm productivity, increasing use of IoT devices, rising demand for sustainable farming practices, rising popularity of vertical farming, and growth in demand for farm automation.
The farming as a service market size is expected to see rapid growth in the next few years. It will grow to $9.56 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to growing demand for precision agriculture, growing government initiatives and subsidies, rising need for food security, rising demand for sustainable agriculture practices, and increasing adoption of modern agricultural methods. Major trends in the forecast period include technological advancements, integration of artificial intelligence, precision agriculture, IoT devices, and smart greenhouses.
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Scope Of Farming As A Service Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Farming As A Service Market Overview
Market Drivers –
The increasing food consumption is expected to propel the growth of the farming as a service market going forward. The increase in food consumption is due to growing global populations, rising incomes, and changes in dietary preferences and lifestyles. Farming as a service (FaaS) provides access to advanced technologies like precision agriculture tools, which optimize water use, fertilizers, and pesticides. This leads to higher crop yields and reduced waste, allowing farmers to produce more food with fewer resources. For instance, in April 2024, according to a report published by the United States Department of Agriculture, a US-based government agency, global food consumption reached approximately 2.5 billion metric tons in 2021, with bread and cereal products being the largest category consumed. Further, agriculture, food, and related industries contributed roughly $1.530 trillion to the U.S. gross domestic product (GDP) in 2023, accounting for about 5.6% of the total. Therefore, the increase in food consumption is driving the growth of the farming as a service market.
Market Trends –
Major companies operating in the farming as a service market are focused on developing technologically advanced solutions, such as farm management software, to streamline and enhance agricultural operations. Farm management software is a digital tool that helps farmers plan, monitor, and analyze farm operations, optimizing productivity, resource use, and decision-making through data-driven insights. For instance, in March 2023, Bushel Inc., a US-based software company, launched the Bushel Farm management software, the next generation in farm management software for farmers and their agribusiness partners. Bushel Farm enhances farm management by significantly reducing manual data entry through its integration with Bushel’s FarmLogs solution. This innovative feature enables farmers to effortlessly import grain sales data from numerous grain facilities that use Bushel solutions. Instead of spending hours manually entering data from contracts or scale tickets, farmers can now automate the process with just a few clicks. This software will streamline contract management by auto-populating contract details, simplifying the workflow, and saving farmers valuable time.
The farming as a service market covered in this report is segmented –
1) By Services: Farm Management Solutions, Production Assistance, Access To Markets
2) By Delivery Model: Subscription, Pay-Per-Use
3) By End User: Farmers, Government, Corporate, Financial Institutions, Advisory bodies
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Regional Insights –
North America was the largest region in the farming as a service market in 2023. 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.
Key Companies –
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.
Table of Contents
- Executive Summary
- Farming As A Service Market Report Structure
- Farming As A Service Market Trends And Strategies
- Farming As A Service Market – Macro Economic Scenario
- Farming As A Service Market Size And Growth
…..
- Farming As A Service Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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