Asia-pacific Agriculture Technology As A Service Market: Growth Prospects 2024-2032
As per Triton’s research report, the Asia-Pacific agriculture technology as a service market is estimated to progress in terms of revenue at a CAGR of 16.70% during the forecast period 2024-2032.
The Asian Development Bank (ADB) collaborates with member countries to integrate food production, processing, and distribution, committing over $14 billion from 2022 to 2025 to strengthen regional food and agricultural value chains. The population growth in countries like China and India, along with a demand rise for organic food fuels agricultural production. As smart agriculture is growing significantly, several governments in the Asia-Pacific region provide support in developing farm management software, particularly within vertical farming. These factors create a widening scope for the growth of agriculture technology as a service market.
The countries analyzed in this region include China, Australia & New Zealand, ASEAN Countries, Japan, South Korea, India, Rest of Asia-Pacific.
China leads with a major market share, recording nearly $123.43 million in 2023.
Given China’s leadership in advanced technology, there is a significant demand for agricultural technology within the country. In this regard, the World Bank approved a $345 million loan from 2018 to 2035 to support the Rural Revitalization Program and green agriculture in China.
This credit aims to create financial incentives for farmers and food processing companies to adopt climate-smart agriculture technologies and good agricultural practices.
The program also includes investments in developing methodologies for green budgeting and expenditure tracking systems. Such initiatives lead to a higher demand for agriculture technology solutions in China.
Agriculture Technology as a Service Market Forecast for Japan and India
The Ministry of Agriculture, Forestry, and Fisheries (MAFF) in Japan previously announced a strategic plan to expand smart farming technologies and services by launching 205 demonstration projects for promoting smart agriculture technologies. Thus, the spread of smart farming technology in companies is expected to improve production and management in agrifood systems. Additionally, in 2021, the Japanese government established guidelines for an open application programming interface (API) system to help farmers access agricultural machinery data from various manufacturers.
Similarly, the Indian government is boosting the agriculture sector by developing an ‘agriStack’ with Agritechs, offering up to 100% subsidies for Kisan drones, funding Agritech startups, and promoting the eNAM platform for better market access. In February 2022, the PM Kisan Samman Nidhi Scheme allocated $26.4 billion to support over 110 million farmers with technology upgrades and agri-waste management. With such active efforts in adopting agricultural technologies, the market is assured to grow during the forecast years.
The agriculture technology as a service market is segmented by type, technology, and application. Based on type, it is further classified into software as a service (SAAS) and equipment as a service (EAAS). By providing SaaS services, agriculture technology companies benefit from a scalable environment, enabling seamless integration of new features into their offerings. This approach also simplifies operations for customers, allowing easy integration and scalability.
Contender Analysis in the Agriculture Technology as a Service Market:
Fujitsu provides information and communications technology (ICT) solutions along with a range of computing devices, servers, storage devices, electronic devices, networking systems, and allied products. It serves various industries, including automotive, retail, manufacturing, transport, public sector, and energy and utilities. It has operations in the Middle East, Europe, Africa, Asia-Pacific, and the Americas. Fujitsu is headquartered in Minato-Ku, Tokyo, Japan.
In 2023, Fujitsu and Kawasaki City announced the launch of field trials for ‘Green Carbon Club,’ a Fujitsu-developed smartphone app designed to increase awareness of sustainable lifestyles among citizens and businesses in Japan.
Other key contenders in the market include Trimble Inc, Agco Corporation, CLAAS KGaA mbH, Hexagon AB, Deere and Company, Microsoft Corporation, IBM Corporation, Raven Industries Inc, Topcon Corporation, and Fujitsu.
- 1. Asia-pacific Agriculture Technology As A Service Market - Summary
- 2. Industry Outlook
- 2.1. Impact Analysis On Agriculture Technology As A Service Market
- 2.1.1. Covid-19 Impact On Agriculture Technology As A Service Market
- 2.2. Porter’s Five Forces Analysis
- 2.2.1. Threat Of New Entrants
- 2.2.2. Threat Of Substitutes
- 2.2.3. Bargaining Power Of Buyers
- 2.2.4. Bargaining Power Of Suppliers
- 2.2.5. Threat Of Competitive Rivalry
- 2.3. Key Buying Impact Analysis
- 2.3.1. Data Analysis
- 2.3.2. Connectivity
- 2.3.3. Data Security
- 2.3.4. Data Collection Frequency
- 2.4. Market Attractiveness Index
- 2.5. Key Market Strategies
- 2.5.1. Collaborations
- 2.5.2. Product Launches
- 2.5.3. Investments & Expansions
- 2.6. Market Drivers
- 2.6.1. Necessity Of Precision Agriculture From An Economic Standpoint
- 2.6.2. Minimal Capital Investment For Operating Services
- 2.6.3. Surging Technological Innovations And Advancements In Agriculture
- 2.7. Market Challenges
- 2.7.1. Inadequate Technical Expertise Among Farmers
- 2.7.2. Lack Of Connectivity Affecting Technological Services
- 2.8. Market Opportunities
- 2.8.1. Increasing Demand For Food With The Rising Population
- 2.8.2. Integration Of Internet Of Things (Iot) And Sensor Technologies In Agriculture
- 2.8.3. Growing Concerns About Climate Change And Its Impact On Agriculture
- 2.9. Analyst Perspective
- 3. Asia-pacific Agriculture Technology As A Service Market – By Technology
- 3.1. Data Analytics & Intelligence
- 3.2. Guidance Technology
- 3.3. Sensing Technology
- 3.4. Variable Rate Application Technology
- 3.5. Other Technologies
- 4. Asia-pacific Agriculture Technology As A Service Market – By Type
- 4.1. Software As A Service (Saas)
- 4.2. Equipment As A Service (Eaas)
- 5. Asia-pacific Agriculture Technology As A Service Market – By Application
- 5.1. Yield Mapping And Monitoring
- 5.2. Soil Management
- 5.3. Crop Health Management
- 5.4. Navigation And Positioning
- 5.5. Other Applications
- 6. Asia-pacific Agriculture Technology As A Service Market – By Country Outlook
- 6.1. Asia-pacific
- 6.1.1. Country Analysis
- 6.1.1.1. China
- 6.1.1.1.1. China Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.2. Japan
- 6.1.1.2.1. Japan Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.3. India
- 6.1.1.3.1. India Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.4. South Korea
- 6.1.1.4.1. South Korea Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.5. Asean Countries
- 6.1.1.5.1. Asean Countries Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.6. Australia & New Zealand
- 6.1.1.6.1. Australia & New Zealand Agriculture Technology As A Service Market Forecast & Prospects
- 6.1.1.7. Rest Of Asia-pacific
- 6.1.1.7.1. Rest Of Asia-pacific Agriculture Technology As A Service Market Forecast & Prospects
- 7. Competitive Landscape
- 7.1. Agco Corporation
- 7.1.1. Overview
- 7.1.2. Product Portfolio
- 7.1.3. Key Strength
- 7.1.4. Key Challenge
- 7.2. Deere And Company
- 7.2.1. Overview
- 7.2.2. Product Portfolio
- 7.2.3. Key Strength
- 7.2.4. Key Challenge
- 7.3. Trimble Inc
- 7.3.1. Overview
- 7.3.2. Product Portfolio
- 7.3.3. Key Strengths
- 7.3.4. Key Challenges
- 7.4. Raven Industries Inc
- 7.4.1. Overview
- 7.4.2. Product Portfolio
- 7.4.3. Key Strength
- 7.4.4. Key Challenge
- 7.5. Fujitsu
- 7.5.1. Overview
- 7.5.2. Product Portfolio
- 7.5.3. Key Strength
- 7.5.4. Key Challenges
- 7.6. Topcon Corporation
- 7.6.1. Overview
- 7.6.2. Product Portfolio
- 7.6.3. Key Strength
- 7.6.4. Key Challenge
- 7.7. Claas Kgaa Mbh
- 7.7.1. Overview
- 7.7.2. Product Portfolio
- 7.7.3. Key Strength
- 7.7.4. Key Challenges
- 7.8. Hexagon Ab
- 7.8.1. Overview
- 7.8.2. Product Portfolio
- 7.8.3. Key Strength
- 7.8.4. Key Challenge
- 7.9. Ibm Corporation
- 7.9.1. Overview
- 7.9.2. Product Portfolio
- 7.9.3. Key Strengths
- 7.9.4. Key Challenge
- 7.10. Microsoft Corporation
- 7.10.1. Overview
- 7.10.2. Product Portfolio
- 7.10.3. Key Strength
- 7.10.4. Key Challenge
- 8. Research Methodology & Scope
- 8.1. Research Scope & Deliverables
- 8.2. Sources Of Data
- 8.3. Research Methodology
- Tables List
- Table 1: Asia-pacific Agriculture Technology As A Service Market, By Country Outlook, 2024-2032 (In $ Million)
- Table 2: List Of Collaborations
- Table 3: List Of Product Launches
- Table 4: List Of Investments & Expansions
- Table 5: Asia-pacific Agriculture Technology As A Service Market, By Technology, 2024-2032 (In $ Million)
- Table 6: Asia-pacific Agriculture Technology As A Service Market, By Type, 2024-2032 (In $ Million)
- Table 7: Asia-pacific Agriculture Technology As A Service Market, By Application, 2024-2032 (In $ Million)
- Table 8: Asia-pacific Agriculture Technology As A Service Market, By Country Outlook, 2024-2032 (In $ Million)
- Figures List
- Figure 1: Porter’s Five Forces Analysis
- Figure 2: Key Buying Impact Analysis
- Figure 3: Market Attractiveness Index
- Figure 4: Asia-pacific Agriculture Technology As A Service Market, By Technology, 2023 & 2032 (In %)
- Figure 5: Asia-pacific Agriculture Technology As A Service Market, By Data Analytics & Intelligence, 2024-2032 (In $ Million)
- Figure 6: Asia-pacific Agriculture Technology As A Service Market, By Guidance Technology, 2024-2032 (In $ Million)
- Figure 7: Asia-pacific Agriculture Technology As A Service Market, By Sensing Technology, 2024-2032 (In $ Million)
- Figure 8: Asia-pacific Agriculture Technology As A Service Market, By Variable Rate Application Technology, 2024-2032 (In $ Million)
- Figure 9: Asia-pacific Agriculture Technology As A Service Market, By Other Technologies, 2024-2032 (In $ Million)
- Figure 10: Asia-pacific Agriculture Technology As A Service Market, By Type, 2023 & 2032 (In %)
- Figure 11: Asia-pacific Agriculture Technology As A Service Market, By Software As A Service (Saas), 2024-2032 (In $ Million)
- Figure 12: Asia-pacific Agriculture Technology As A Service Market, By Equipment As A Service (Eaas), 2024-2032 (In $ Million)
- Figure 13: Asia-pacific Agriculture Technology As A Service Market, By Application, 2023 & 2032 (In %)
- Figure 14: Asia-pacific Agriculture Technology As A Service Market, By Yield Mapping And Monitoring, 2024-2032 (In $ Million)
- Figure 15: Asia-pacific Agriculture Technology As A Service Market, By Soil Management, 2024-2032 (In $ Million)
- Figure 16: Asia-pacific Agriculture Technology As A Service Market, By Crop Health Management, 2024-2032 (In $ Million)
- Figure 17: Asia-pacific Agriculture Technology As A Service Market, By Navigation And Positioning, 2024-2032 (In $ Million)
- Figure 18: Asia-pacific Agriculture Technology As A Service Market, By Other Applications, 2024-2032 (In $ Million)
- Figure 19: Asia-pacific Agriculture Technology As A Service Market, By Country Outlook, 2023 & 2032 (In %)
- Figure 20: China Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 21: Japan Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 22: India Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 23: South Korea Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 24: Asean Countries Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 25: Australia & New Zealand Agriculture Technology As A Service Market 2024-2032 (In $ Million)
- Figure 26: Rest Of Asia-pacific Agriculture Technology As A Service Market 2024-2032 (In $ Million)
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