In order to make farming smart and precise, agronomists introduced advanced technologies to agriculture practices as they became aware that crops responded differently to various inputs and agricultural practices. According to the exhibit, more than 50% of large farms use some form of precision agriculture hardware, while nearly a quarter of small farms use this technology or intend to use it over the next two years. The introduction of agriculture technologies into farming allowed growers to utilize the opportunity of growing higher yields. Agriculture technologies are being used for activities such as soil testing, crop scouting, yield monitoring, and field georeferencing. Many farmers, especially those in developing regions like Asia and Africa, cannot afford these technologies. In order to overcome this restraint in the agriculture technology ecosystem, agriculture technology-as-a-service was introduced, a business model in which these technologies are offered as a service. Being offered as a service reduces the upfront costs and capital investment required to procure these agriculture technologies, leading to higher adoption. For instance, John Deere is a leading farm equipment and technology company that offers its advanced farm management system as a service to farmers in the form of a subscription. Within this business model, different companies offer agriculture technologies as services under different pricing models. This provides farmers with the ability to select the pricing model that best fits their budget, thus allowing them to access the latest technology without having to invest a large sum of money upfront. A few of the key pricing models deployed in the industry are discussed in the following segments.

1 Markets

2 Application 

3 Products

4 Region

5 Markets - Competitive Benchmarking & Company Profiles

6 Research Methodology