Farming as a Service Market Size Worth $14.63 Billion By 2032 | CAGR: 14.9%

The global farming as a service market size is expected to reach USD 14.63 billion by 2032, according to a new study by Polaris Market Research. The report “Farming as a Service Market Size, Share, Trends, Industry Analysis Report: By Service Type (Farm Management Solutions, Production Assistance, and Access to Markets), By Delivery Model, By End-User, and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032.” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growth of the farming as a service market is driven by rapid automation adoption in farming applications. Farmers are increasingly embracing automation technologies such as sensors, electronic actuators, and industrial IoT to optimize farming processes, reduce labor costs, and boost productivity. The growing adoption of mechanical development tools in agriculture is enabling the development of advanced autonomous systems for tasks like weeding, watering, and harvesting.

Agritech startups are also playing a pivotal role in shaping the FaaS market. These innovative companies are introducing advanced technologies that help farmers overcome challenges related to efficiency, sustainability, and profitability. By making these technologies more accessible and affordable, agritech startups are particularly benefiting small-scale farmers in developing countries. The government is also taking initiatives for new startups in the market. For instance, in July 2024, The Indian government plans to launch a Rs 750 crore AgriSURE fund to promote startups and rural enterprises in agriculture and allied sectors through equity and debt support. As the agriculture industry continues to face pressures from population growth, climate change, and rising input costs, the rapid adoption of automation and the emergence of agritech startups are expected to be major drivers of farming as a service market in the coming years

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In recent years, the increasing adoption of advanced technologies has significantly driven the growth of farming as a service market. Modern agricultural tools such as data management software, GPS, yield mapping software (YMS), and variable rate technology (VRT) are enhancing profit margins and improving soil fertility while simultaneously reducing farming costs. These technologies promote sustainable agriculture by optimizing resource usage and minimizing waste. Additionally, the growing popularity of the Internet of Things (IoT) in agriculture enables real-time data collection and analysis, allowing farmers to make informed decisions that enhance productivity and sustainability.

Farming as a Service Market Report Highlights

• The farm management solutions segment led the market, driven by precision farming services leveraging advanced technologies like hyperspectral imaging and precision irrigation to boost agricultural productivity and meet global food demand.
• The subscription delivery model segment dominated the market in 2023, enabling farmers to access advanced agricultural technologies and services through recurring fees, reducing upfront investment requirements.
• The Asia Pacific region is expected to grow fastest during the forecast period, driven by India, China, and Bangladesh, supported by government initiatives and infrastructure improvements, amid challenges posed by shifting food consumption patterns due to population growth.
• The global key market players include Accenture, Apollo Agriculture, BigHaat, EM3, IBM, ITC, John Deere (Deere & Company), Mahindra & Mahindra Ltd., Precision Hawk, Taranis, and Trimble Inc.

Polaris Market Research has segmented the farming as a service market report based on service type, delivery model, end-user, and region:

Farming as a Service, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Farm Management Solutions
• Production Assistance
• Access to Markets

Farming as a Service, Application Outlook (Revenue - USD billion, 2019 - 2032)

• Subscription
• Pay-per-use

Farming as a Service, End-User Outlook (Revenue - USD billion, 2019 - 2032)

• Corporate
• Financial Institutions
• Advisory Bodies
• Farmers
• Governments

Farming as a Service, Regional Outlook (Revenue - USD billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Vietnam
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Farming as a Service Report Scope: