Reasons Behind North American Region to Attain the Fastest Growth in the Global Agriculture Technology as a Service (ATaaS) Market

 The ATaaS business model enables the customers to obtain their desired agriculture technologies as services within affordable pricing models at different intervals rather than making a one-time purchase.

The Global Agriculture Technology as a Service Market is likely to grow at a CAGR of 22.9% in the forecast period between 2021-26. The main factors behind the robust growth are the driving need to adapt agriculture technologies across various end-user industries. Alongside that, consumer recognition and capital expenditure in operations are likely to propel the demand for ATaaS in the coming years.

Out of the different segments, talking about the type of service, the global agriculture technology-as-a-service market segments into software-as-a-service (SaaS) and equipment-as-a-service (EaaS), where Software-as-a-Service ruled the global market in recent years and is likely to continue the dominance in the coming years.

On the other hand, based on the application segment, Yield Mapping & Monitoring is likely to dominate the Global Agriculture Technology as a Service (ATaaS) Market in the forecast period. It owes to benefits like lower costs, integration, scalability, and accessibility between manufacturers & consumers.

Out of all the regions, North America is likely to attain the largest market share in the forecast period. Several factors like increased automation application and control systems and the growing adoption of Smart Farming practices lead to market growth. Alongside that, the rising demand for food and expanding farm size shall also propel the market in the forecast years.

Some of the prominent high-tech market leaders are Deere & Company, Trimble Inc., AGCO Corporation, Accenture plc, CNH Industrial N.V., Airbus S.A.S., Raven Industries, AT&T Inc., Topcon Corporation, Intertek plc, SGS S.A., Taranis, Naio Technologies, PrecisionHawk, Microsoft Corporation, and IBM Corporation, etc. These prominent market leaders are massively investing in the production of the market. Moreover, they are also taking initiatives to look after the research & developments to bring a more comprehensive scheme for market sustainability in the forecast period.

In emerging countries, the market growth shall drive through the growing awareness among governments & manufacturers about the flooding need to raise field produce and evaluate the expenditure. Moreover, the rising food sustainability concerns worldwide are likely to lead the government to make investments. Hence, the market shall propel at an exponential pace in the years to come.

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