Market by Technology (Data analytics & intelligence, Guidance technology, Sensing technology, Variable rate application technology, Other technologies), Type (Software As A Service (SAAS), Equipment As A Service (EAAS)), Application (Yield mapping and monitoring, Soil management, Crop health management, Navigation and positioning, Other applications), and Country Outlook | Forecast 2024-2032
Triton’s research report predicts that the Latin America agriculture technology as a service market is expected to garner revenue at a CAGR of 14.88% during the forecast years 2024-2032.
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Latin America is a powerhouse in agricultural exports, contributing significantly to the global supply of soybeans, coffee, and fruits. This sector is a critical component of the region’s economy, contributing approximately 5-10% to the GDP of various countries, reflecting its importance in driving economic growth and providing livelihoods for millions. Notably, the scope of smart agriculture in the region is vast, with nations like Brazil, Argentina, and Chile leading the way. Hence, the agricultural technology as a service market in this region is undergoing a significant transformation driven by the integration of digital tools to boost productivity and sustainability.
The countries studied in this region include:
Brazil captures the highest share in the agriculture technology as a service market, obtaining about $23.21 million in 2023.
As per ITA, Brazilian agribusiness accounts for 25% of the country’s GDP, employs nearly 20% of the nation’s workforce, and contributes to 48% of Brazil’s exports.
The rapid adoption of digital farming methods, supported by agriculture consulting firms, advisory and maintenance services, and government funding, presents significant market growth opportunities for emerging technologies like sensing technologies, variable rate application technologies, and agricultural robots.
The strength in Brazil’s agricultural sector highlights a growing demand for high-technology and advanced agricultural services.
Agriculture Technology as a Service Market Forecast for Mexico
ITA stated that Mexico, being the second-largest market for US agricultural exports, gained $28.4 billion worth of agricultural and related products in 2022. It is also the 11th-largest agriculture producer in the world and is constantly expanding due to strong consumer demand and a growing middle class. Around 70% of the country’s agriculture relies on manual labor with basic tools, while only 1.5 million acres of arable land utilize irrigation technologies. As agribusinesses are expanding their capacity to meet the growing domestic demand in the country, there is a growing need for modern agricultural machinery, such as commercial mowers and dairy farm equipment.
The agriculture technology as a service market is segmented based on type, application, and technology. The technology segment is further branched into data analytics & intelligence, variable rate application technology, guidance technology, sensing technology, and other technologies. Growers and traders are adopting advanced equipment and new agriculture tools, such as data analytics and smart farming technologies, for supply tracking, yield enhancement, and predictive modeling. This segment gained prominence primarily due to their availability as SaaS and the rise in cloud service adoption.
Contender Analysis in the Agriculture Technology as a Service Market:
Raven Industries Inc is a diversified technology firm that provides race control modules, flow meters and valves, radar sensors, direct injection, driverless and driver assist ag solutions, driverless tillage solutions, SSC control consoles, lightbar systems, guidance and assisted steering systems, etc. The company has a business presence in Brazil, Canada, Switzerland, the Netherlands, Belgium, Australia, and the US. Raven is headquartered in Sioux Falls, South Dakota, the US.
In April 2024, the company showcased its latest agricultural technology innovations and proven solutions at ‘Agrishow 2024’. Among the highlights were the Raven CRx Guidance Kit and the Augmenta Field Analyzer, which offer user-friendly automation services to enhance farmers’ productivity and profitability.
The key entities in the reviewed market are Raven Industries Inc, Fujitsu, Hexagon AB, IBM Corporation, Microsoft Corporation, Trimble Inc, Agco Corporation, CLAAS KGaA mbH, Topcon Corporation, and Deere and Company.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the agriculture technology as a service market revenue growth in Latin America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the Latin America agriculture technology as a service market growth during the upcoming years
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Market by Technology (Data ana ..
VIEW REPORT1. LATIN
AMERICA 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. LATIN
AMERICA 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. LATIN
AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET – BY TYPE
4.1. SOFTWARE
AS A SERVICE (SAAS)
4.2. EQUIPMENT
AS A SERVICE (EAAS)
5. LATIN
AMERICA 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. LATIN
AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET – BY COUNTRY OUTLOOK
6.1. LATIN
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. BRAZIL
6.1.1.1.1. BRAZIL
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET FORECAST & PROSPECTS
6.1.1.2. MEXICO
6.1.1.2.1. MEXICO
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET FORECAST & PROSPECTS
6.1.1.3. REST
OF LATIN AMERICA
6.1.1.3.1. REST
OF LATIN AMERICA 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 INCS
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
TABLE 1: LATIN AMERICA 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: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TECHNOLOGY, 2024-2032 (IN $
MILLION)
TABLE 6: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TYPE, 2024-2032 (IN $ MILLION)
TABLE 7: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY APPLICATION, 2024-2032 (IN $
MILLION)
TABLE 8: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $
MILLION)
FIGURE 1: PORTER’S FIVE FORCES
ANALYSIS
FIGURE 2: KEY BUYING IMPACT
ANALYSIS
FIGURE 3: MARKET
ATTRACTIVENESS INDEX
FIGURE 4: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TECHNOLOGY, 2023 & 2032 (IN
%)
FIGURE 5: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY DATA ANALYTICS &
INTELLIGENCE, 2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY GUIDANCE TECHNOLOGY, 2024-2032
(IN $ MILLION)
FIGURE 7: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SENSING TECHNOLOGY, 2024-2032
(IN $ MILLION)
FIGURE 8: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY VARIABLE RATE APPLICATION
TECHNOLOGY, 2024-2032 (IN $ MILLION)
FIGURE 9: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY OTHER TECHNOLOGIES, 2024-2032
(IN $ MILLION)
FIGURE 10: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY TYPE, 2023 & 2032 (IN %)
FIGURE 11: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SOFTWARE AS A SERVICE (SAAS),
2024-2032 (IN $ MILLION)
FIGURE 12: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY EQUIPMENT AS A SERVICE (EAAS),
2024-2032 (IN $ MILLION)
FIGURE 13: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY APPLICATION, 2023 & 2032 (IN
%)
FIGURE 14: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY YIELD MAPPING AND MONITORING,
2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY SOIL MANAGEMENT, 2024-2032 (IN $
MILLION)
FIGURE 16: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY CROP HEALTH MANAGEMENT,
2024-2032 (IN $ MILLION)
FIGURE 17: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY NAVIGATION AND POSITIONING,
2024-2032 (IN $ MILLION)
FIGURE 18: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY OTHER APPLICATIONS, 2024-2032
(IN $ MILLION)
FIGURE 19: LATIN AMERICA
AGRICULTURE TECHNOLOGY AS A SERVICE MARKET, BY COUNTRY OUTLOOK, 2023 & 2032
(IN %)
FIGURE 20: BRAZIL AGRICULTURE
TECHNOLOGY AS A SERVICE MARKET 2024-2032 (IN $ MILLION)
FIGURE 21: MEXICO AGRICULTURE
TECHNOLOGY AS A SERVICE MARKET 2024-2032 (IN $ MILLION)
FIGURE 22: REST OF LATIN
AMERICA AGRICULTURE TECHNOLOGY AS A SERVICE MARKET 2024-2032 (IN $ MILLION)