Key Findings
The Asia-Pacific Agriculture Technology as a Service market is expected to grow at a CAGR of 19.09% during the forecast period 2023-2032. The Asia-Pacific region is on track to become a global hub for vertical farming technologies, largely attributed to the rapid adoption of IoT technologies, which are being embraced at a faster pace in this region compared to the rest of the world.
Market Insights
China, Japan, India, South Korea, Indonesia, Thailand, Australia & New Zealand, and Rest of Asia-Pacific are evaluated in order to predict the growth of Asia-Pacific Agriculture Technology as a Service market. The Thailand government is encouraging initiatives to transform conventional agriculture into smart agriculture to close the gap in the country’s agricultural profitability. Additionally, to offset the climate impact of yield-enhancing technologies, the government is calling on farmers to adopt climate-smart agricultural practices. The Thai government has also launched training initiatives in particular application fields, such as animal farming.
In Indonesia, the Agriculture Value Chain Development (ICARE) project is currently underway and focuses on developing models to promote sustainable and inclusive agriculture value chains in nine selected regions. One notable innovation is the Smart Agricultural Enterprise (SAE), an integrated soybean agroindustry system developed by researchers at the Department of Agricultural Technology at Gadjah Mada University. This system is used to produce Indonesian tempeh, the country’s most popular protein. According to the Indonesian Central Statistics Agency (BPS), the annual soybean requirement in Indonesia is estimated at 2.8 million tons; however, domestic production currently stands at only 800,000 tons. During the forecast period, these factors are expected to drive the growth of the market in the Asia-Pacific.
Competitive Insights
Some of the leading companies in the market are Microsoft Corporation, Fujitsu Ltd, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments