Agriculture Technology-as-a-Service Market Opportunity and Key Trends 2020-2026

The upcoming trend of global agriculture technology-as-a-service is not only prevalent in developed countries, but developing countries have realized its importance as well. The government of several countries has also realized the need and advantages of this business model, and thus their initiatives to promote this business model is expected to further drive the growth of the agriculture technology-as-a-service market.

Report Overview is Available at: https://bisresearch.com/industry-report/agriculture-technology-service-market-report.html

However, there are certain challenges, which prove to be a restraint in the growth of the global agriculture technology-as-a-service market. As per the preceding figure, the awareness and knowledge about newer technological advancements in agriculture technologies are yet to spread extensively, especially in emerging countries. Price inflation of agricultural produce due to the costly investment of agriculture technologies also brings restraint in the market.

High growth in the market is expected to be driven by the growing need to adopt agriculture technologies across the industry, conversion of capital expenditure into operational expenditure for customers, and greater customer retention for service providers. The added benefits of lower costs, scalability, integration, and accessibility associated with ATaaS are also expected to be responsible for the reported growth of the business model. Agriculture is the source of livelihood and sustenance of the economy in several regions of the world.

Hence, the need to adopt advanced technologies in the agriculture industry has driven favorable initiatives, policies, and support shown by governments in countries such as the U.S., Canada, the U.K., Germany, France, Australia, India, and China. In emerging countries, the growth of the market is expected to be driven by rising awareness among governments and manufacturers-turned-service providers about the need to elevate farm produce while evaluating the farm expenditure of their growers. Furthermore, rising concerns over global food security and sustainability have led to extensive investments by governments across the world.

Obtain the Sample Report: https://bisresearch.com/requestsample?id=1240&type=download

Agriculture technology companies comprise a combination of equipment manufacturers and software providers in the industry. With the introduction of agriculture technology-as-a-service, these companies have respectively adopted the service business model completely or partially, leading to two service types, i.e., equipment-as-a-service (EaaS) and software-as-a-service (SaaS).

The benefits of affordable pricing models, integration, scalability, and accessibility associated with SaaS are the major reasons behind the reported growth of this service type. Equipment-as-a-service (EaaS) has not been adopted as widely as SaaS since the existing systems and equipment have not been able to precisely predict the equipment failures leading to frequent customer dissatisfaction. The introduction of machine intelligence and Internet-of-Things (IoTs) is expected to improve predictive maintenance and boost growth for EaaS service types.

Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.