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Farm Management Software Market Research Report - Global Forecast to 2027

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 2027

ID: MRFR/ICT/3768-HCR | December 2022 | Region: Global | 100 Pages         

Farm Management Software Market

The farm management software market attains a CAGR of ~15% growth value

Segmentation

By Type precision farming livestock monitoring fish farming
By delivery model on premise/web-based cloud-based
By Service managed service professional service connectivity service

Key Players

  • 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.)

Drivers

  • Increase in global population and reduction of arable land
  • IT department plays a major role
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Market Overview

The farm management software market attains a CAGR of ~15% growth value. Companies are adopting various strategies and are developing various tools to cater to the demand for food. The advancement of software is updated every year to fulfill the needs of the farmer towards high productivity and animal health. This has encouraged many investors to take startups to enter into the industry and help in the fragmented growth of the farm management software industry.

Covid 19 Analysis

The companies dealing with the expansion of farm management market size were badly affected by the pandemic, COVID 19. The business of the suppliers and the distributors, management facilities, and the corporate offices experienced harsh effects. The deterioration of export and import business decreased the demand of the farm market. It had a very negative impact on the steady domestic requirement of farm software. The key players experienced stagnant growth in their order of intake. Due to this outbreak, the supply of agriculture is highly disrupted. Due to this pandemic, there was a delay in the upcoming product launches by the market players.

The farm management software industry is playing a major role in this situation by providing products for good crop growth and animal health. Governments of various states started investing and taking all the necessary initiatives for the need of the farm management software business.


Market Dynamics


Drivers
An 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.


Opportunities
Other 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.


Challenges
The 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 Growth
Proper 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.


Restraints
Small-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

The local experts with global infrastructure have designed the supply chain management to provide proper service that will help the farm business to grow and meet the customer needs. They build a strong supply chain backbone that provides value-added capabilities that will meet the business objectives. Their supply chain management solutions make your business stay end-to-end. The stakeholder management solutions are connected by modern technology platforms that make the supply chain work exactly as it needs to work. They keep the customer’s wishes and goals in mind and work accordingly.

 

Segment Overview


By Type
The dominant segment is the cloud-based management software which helps in the fast expansion of the farm management software market size. Based on agriculture, the farm market is bifurcated into precision farming, livestock monitoring, fish farming, smart greenhouse farming, and many more. Based on the delivery model, the farm management software market segment is divided into on-premise/web-based and cloud-based. Based on service providers, the farm industry is bifurcated into service providers, professional service providers, connectivity service providers, maintaining it and upgrading and supporting the services. Concerning application, the market is bifurcated into record keeping, farm mapping, monitoring and forecasting, farm economics, and many more.


By Technology
Data from the technology-based advanced satellite brings incremental farm management software market trends where the farmers applied this software for the development of the FMS market. The advancement of modern technologies made the farmers aware and very much alert about the environment. The lack of agricultural land has made them use these technologies for putting forward innovative means to improve productivity. Following the technology gives them information about evapotranspiration, soil moisture, and electrical conductivity that gears up farm management market growth. By using modern techniques precision farming is gaining attention globally.

 

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 Landscape
These 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 Overview
From 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 2 billion
  CAGR   15%
  Base Year   2016
  Forecast Period   2017-2023
  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.


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Frequently Asked Questions (FAQ) :

The farm management software market is expected to strike 15% CAGR.

The farm management software market is anticipated to be valued at USD 2 Bn.

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.