Global Farm Management Software Market agriculture type (precision farming, livestock monitoring, fish farming), delivery model (on premise/web-based, cloud-based), service (managed service, professional service, connectivity service) - Forecast to 2030
ID: MRFR/ICT/3768-HCR | 100 Pages | Author: Aarti Dhapte | June 2023
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Farm Management Software Market
The Global Farm Management Software Market is expected to reach USD 5.9 Billion by 2030, growing at a CAGR of 11.2% during the forecast period.
$5.9 Billion
11.2%
North America
2022-2030
Market Dynamics
DriversAn increase in global population and reduction of arable land are the major driving factors for the market. The presence of less arable land will push the growers to grow valuable products per hectare of land to meet the growing demand for food. IT department plays a major role in farm management software market growth. The demand for organic food and the revolution in the lifestyle of people gain profit in the production of smart and useful techniques that can be used in farming. The government used various farming solutions to increase the need for farm yield.
OpportunitiesOther than the management of crops, the global farm management software market provides opportunities for tax management, profit center analysis, cost accounting, inventory management, livestock management, and financial management.
The above-mentioned services are very much advantageous to farmers which gives them opportunities to monitor ROI and control the expenses of the revenue by tracking all the necessary information. As per the farm management software market trends, it was marked that this software can be widely used in record keeping, farm mapping, monitoring and forecasting, farm economies department, and in many more applications.
ChallengesThe presence of skilled laborers and presence of availability of raw materials and to the adoption of productive software is the major challenge of the FMS market. For the past five years, United States was facing a labor shortage which has led to the enhancement rate of adopting various farming technologies for managing the products in a better way. Problems of environmental crops like the safety of the crop by use of chemicals is a challenging factor.
Cumulative GrowthProper monitoring of the farming crops and the cattle help in yielding additional production. Rise in farm management software market growth due to rise in demand for convenient cloud storage that can be operated by the FMS software. Investing a high sum of money and limiting the technical expertise are the factors lying behind which can help in the cumulative growth of the industry.
RestraintsSmall-sized farms, bad adoption rate by farmers, and the government taking less initiative will hamper the growth of the global farm management market. The absence of a virtual fence for bounding the large paddocks will lead to the entry of animals thus destroying the crops. The absence of a technical workforce acts as a hindering factor for the growth of crops.
Value Chain Analysis
Recent Developments
- Climate Corporation on merging with Pinnacle Agriculture Distribution Inc. in 2019 which will help in the expansion of the customer base.
- Syngenta signed a partnership with Cropio Group, which provided end-to-end FMS software solutions which helped the farm management software business earn traction of profits.
- In the Asia Pacific region, AgJunction Inc. made collaboration with Geosurf Corporation and with more two companies, Big Data Industrial Technology Research Institute and Anghui Zhingke Intelligent Sense who provided the agricultural solution in a productive and better way.
Regional Analysis
- Adoption of the technology-based solution by different countries and nations made North America the dominant market.it also has a modernized delivery model of farm management software. Some of the companies in Europe started providing the equipment-based software thus making Europe cover the second largest market share. The United States was regarded as the first nation for adopting precision technology to farming techniques. The farmers here and in Cannada after accepting the innovating techniques, components, and devices like farm management software, mobile applications, cloud services, imagery services, high speed of internet connection, and data analytics services.
- To digitize and automated farming and to raise the strength of artificial intelligence, Cannada has invested a huge sum in Canadian Agri-food Automation and Intelligence Network. The adoption of on-cloud technology made the Asia Pacific the fastest growing market. Asia Pacific includes the region of India, China, and Southeast Asian countries, which accept the FMS software at a high rate. According to the farm management software market trends for increasing the farm management software market size, these regions have increased government spending, and has improved the standard of living, urbanization, industrialization, and have also increased the awareness among the farmers based on farming solutions.
Competitive LandscapeThese competitors majorly focus on building partnerships, mergers, and acquisitions with other companies and inventing new and innovative products. The competitors of the market are focussing on using various strategies for undergoing ecosystem analysis. Some of the key players are Deere and Company of United States, Trimble Inc of United States, AG Junction Inc of America, Raven Industries Inc of America, Iteris Inc(U. S.), AG Leader Technology Inc(U. S.), Dickey-john Corporation( U.S.), SST Development Group Inc.,(U. S.), Topcon Positioning System Inc. of America and many others.Report OverviewFrom farm management software market analysis, the share of the market covered by the FMS industry, their size farm management software market trends. Globally the farm management market analysis provides the depth-wise study of the management industry giving priority to the farm management software market outlook. The report gives an overview of the market status of the dominant market players along with the farm management market segments so done during the forecast period. The report also provides exhaustive analysis about the software market gaining demand and further provides information about the market dynamics and the market trends and opportunities prevailing globally. The report analyses about analysis on PEST and SWOT. It provides insights about regional players along with farmers’ behavior and gives detailed information about the secondary and primary research.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 5.9 Billion |
| CAGR | 11.2% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2015 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By TYpe, Model, Services |
| Geographies Covered | North America, Europe, Aisa Pacific |
| Key Vendors | Deere and Company of United States Trimble Inc of United States AG Junction Inc of America Raven Industries Inc of America Iteris Inc(U. S.) AG Leader Technology Inc(U. S.) Dickey-john Corporation( U.S.) SST Development Group Inc.(U. S.) |
| Key Market Opportunities | ROI and control the expenses of the revenue by tracking all the necessary information. |
| Key Market Drivers | An increase in global population and reduction of arable land are the major driving factors for the market. |
Frequently Asked Questions (FAQ) :
The farm management software market is expected to strike 11.2% CAGR.
The farm management software market is anticipated to be valued at USD 5.9 Billion.
Deere & Company (U.S.), AG Junction, Inc (U.S.), Trimble Inc (U.S.), Raven Industries, Inc. (U.S.), AG Leader Technology Inc (U.S.), Iteris, Inc. (U.S.), Dickey-John Corporation (U.S.), Topcon Positioning Systems, Inc.(U.S.), and SST Development Group, Inc. (U.S.) are some of the participants of the market.
By service, the segments of the farm management software market are professional service, managed service, and connectivity service.
By delivery model, the segments are on premise/web-based and cloud-based.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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