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NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America Agriculture Technology as a Service Market by Technology (Data Analytics & Intelligence, Guidance Technology, Sensing Technology, Variable Rate Application Technology, Other Technologies) Market by Type (Software as a Service, Equipment as a Service) Market by Application (Yield Mapping and Monitoring, Soil Management, Crop Health Management, Navigation and Positioning, Other Applications) by Geography

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MARKET OVERVIEW

The North America Agriculture Technology as a Service market is evaluated to grow with a CAGR of 16.44% over the forecasting period of 2023 to 2032. The market is projected to reach a revenue of $2678.07 million by 2032.

The growth of the Agriculture Technology as a Service market in this region is driven by the adoption of IoT systems and advanced farming equipment. Furthermore, the widespread implementation of digital technologies among farms has significantly accelerated the uptake of precision agriculture and smart farming practices across the North American region.

The North America Agriculture Technology as a Service market covers an in-depth study of the United States and Canada. The United States is home to major global agriculture machinery manufacturers, such as Deere & Company, AGCO Corporation, etc. These companies have consistently maintained their leading positions in the agriculture industry, showcasing their adaptability to changes within the sectorover time. Moreover, with the advent of automation and robotics, traditional agricultural machinery suppliers have also adopted this next generation technology into their machinery in order to keep up with industry advancements and customer expectations. 

On the other hand, the agriculture and agri-food sector contributes significantly to the Canadian economy. As of February 2022, according to data from the Ontario Soil and Crop Improvement Association, the government invested $182.7 million in partner organizations to help farmers control and reduce emissions and climate impact of agricultural activities. Such government initiatives and programs aimed at developing the entire agriculture sector have fueled the demand for Agriculture Technology as a Service market in Canada.

North America Agriculture Technology As A Service Market

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The North America Agriculture Technology as a Service market is segmented into technology, type, and application. The technology segment includes data analytics & intelligence, guidance technology, sensing technology, variable rate application technology, and other technologies. Data analytics and intelligence services have gained prominence in the global Agriculture Technology as a Service market, primarily since they are offered under the Software as a Service (SaaS) model. 

SaaS allows companies to offer their products at a lower price than the typical one-time purchase model. Maintenance costs are reduced for the consumer because the company owns the environment, and the expenses are split among all other customers. These lower-cost models allow agriculture companies to expand their customer base to low and moderate-income farmers. As the software is installed and configured in the host company’s environment and cloud, integration and deployment times are reduced, thereby making it easier for both parties.

Leading players operating in the North America Agriculture Technology as a Service market include Deere & Company, AGCO Corporation, Trimble Inc, etc.

Deere & Company, headquartered in the United States, manufactures and distributes agricultural, construction and forestry equipment and related service parts. The company’s portfolio of products includes agriculture and turf equipment and related service parts, other outdoor power products, machines and service parts used in construction, earthmoving, material handling and timber harvesting. It also finances sales and leases of new and used equipment and provides wholesale financing and extended equipment warranties.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($Million)
Segments Analyzed
Technology, Type, and Application
Countries AnalyzedThe United States and Canada
Companies AnalyzedAccenture, Agco Corporation, Agrivi Ltd, Airbus SAS, AT&T, Ceres Imaging, CLAAS KGaA mbH, Deere & Company, Fujitsu, Hexagon AB, IBM Corporation, Microsoft Corporation, Raven Industries (Acquired by CNH Industrial NV), Topcon Corporation, Trimble Inc

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS 
      1. AUTOMATION IS BECOMING AN INTEGRAL PART OF THE AGRICULTURAL SECTOR
      2. RISE OF CORPORATE FARMING IN THE REGION
      3. CONCERNS REGARDING DATA PRIVACY AND DATA OWNERSHIP
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. INCREASED DEMAND FOR FOOD PRODUCTION
      2. ECONOMIC NECESSITY OF PRECISION AGRICULTURE
      3. NEED FOR MINIMAL CAPITAL INVESTMENT
      4. INNOVATION AND TECHNOLOGICAL ADVANCEMENTS IN AGRICULTURE
    2. KEY RESTRAINTS
      1. LACK OF TECHNICAL EXPERTISE AMONG FARMERS
      2. POOR CONNECTIVITY IMPACTS TECHNOLOGICAL SERVICES
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET CONCENTRATION ANALYSIS
    5. KEY BUYING CRITERIA
      1. DATA ANALYSIS
      2. CONNECTIVITY
      3. DATA SECURITY
      4. DATA COLLECTION FREQUENCY
  5. MARKET BY TECHNOLOGY
    1. DATA ANALYTICS & INTELLIGENCE
    2. GUIDANCE TECHNOLOGY
    3. SENSING TECHNOLOGY
    4. VARIABLE RATE APPLICATION TECHNOLOGY
    5. OTHER TECHNOLOGIES
  6. MARKET BY TYPE
    1. SOFTWARE AS A SERVICE (SAAS)
    2. EQUIPMENT AS A SERVICE (EAAS)
  7. MARKET BY APPLICATION
    1. YIELD MAPPING AND MONITORING
    2. SOIL MANAGEMENT
    3. CROP HEALTH MANAGEMENT
    4. NAVIGATION AND POSITIONING
    5. OTHER APPLICATIONS
  8. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET DRIVERS
      3. NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET CHALLENGES
      4. KEY PLAYERS IN NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET
      5. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES AGRICULTURE TECHNOLOGY AS A SERVICE MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET SIZE & OPPORTUNITIES
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. PRODUCT LAUNCHES & DEVELOPMENTS
      2. PARTNERSHIPS AND AGREEMENTS
      3. MERGERS & ACQUISITIONS
    2. COMPANY PROFILES
      1. ACCENTURE
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      2. AGCO CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      3. AGRIVI LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      4. AIRBUS SAS
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      5. AT&T
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      6. CERES IMAGING
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      7. CLAAS KGAA MBH
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      8. DEERE & COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      9. FUJITSU
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      10. HEXAGON AB
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      11. IBM CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES 
      12. MICROSOFT CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      13. RAVEN INDUSTRIES (ACQUIRED BY CNH INDUSTRIAL NV)
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      14. TOPCON CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      15. TRIMBLE INC
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – AGRICULTURE TECHNOLOGY AS A SERVICE

TABLE 2: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TECHNOLOGY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 10: LEADING PLAYERS OPERATING IN NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET

TABLE 11: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 12: LIST OF PARTNERSHIPS AND AGREEMENTS

TABLE 13: LIST OF MERGERS & ACQUISITIONS

LIST OF FIGURES 

FIGURE 1: KEY TECHNOLOGY TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR NORTH AMERICA

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2022

FIGURE 8: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY DATA ANALYTICS & INTELLIGENCE, 2023-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY GUIDANCE TECHNOLOGY, 2023-2032 (IN $ MILLION)

FIGURE 10: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SENSING TECHNOLOGY, 2023-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY VARIABLE RATE APPLICATION TECHNOLOGY, 2023-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY OTHER TECHNOLOGIES, 2023-2032 (IN $ MILLION)

FIGURE 13: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022

FIGURE 14: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SOFTWARE AS A SERVICE (SAAS), 2023-2032 (IN $ MILLION)

FIGURE 15: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY EQUIPMENT AS A SERVICE (EAAS), 2023-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 17: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY YIELD MAPPING AND MONITORING, 2023-2032 (IN $ MILLION)

FIGURE 18: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SOIL MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 19: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY CROP HEALTH MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 20: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY NAVIGATION AND POSITIONING, 2023-2032 (IN $ MILLION)

FIGURE 21: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 22: NORTH AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23: UNITED STATES AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24: CANADA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, 2023-2032 (IN $ MILLION)

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