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Farm Management Software Market Trends

ID: MRFR//3768-HCR | 100 Pages | Author: Aarti Dhapte| July 2024

Farm Management Software Market Overview

The Farm Management Software market size is projected to grow from USD 3.58 billion in 2024 to USD 7.53 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.74% during the forecast period (2024 - 2032). Additionally, the market size for Farm Management Software was valued at USD 3.22 billion in 2023.

Global population growth and shrinking arable land are the key market drivers enhancing the market growth.

Figure1: Farm Management Software Market, 2024 - 2032 (USD Billion)

Farm Management Software Market Overview1

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Farm Management Software Market Trends

Growing use of ML is driving the market growth

Market CAGR for farm management software supplements is being driven by the rising use of ML. The farm management software industry is developing due to increased agricultural activities and the requirement for real-time data for decision-making. Precision farming, animal monitoring, fish farming, and improved greenhouse techniques are just a few farming applications where artificial intelligence and machine learning are swiftly gaining traction. They coordinate the data interchange between hardware and humans to facilitate farm management. 

The major purpose of the farm management framework is to grasp the environment by analyzing data generated by various farm management instruments such as global positioning systems (GPS), satellite imagery, and in-field sensors. Because agricultural management choices depend on real-time data analysis from farm operations, data management is critical. Artificial intelligence and machine learning are becoming increasingly common, allowing for real-time data access and streamlining data management duties such as planning, procurement, feeding, harvesting, marketing, and inventory control. Data acquired in real-time from farming activities aid in analysis and decision-making. 

Many governments are implementing regulations to encourage adopting cutting-edge agricultural practices, which is expected to be good news for the global farm management software industry. The market's expansion is also expected to be supported by the rising use of cloud computing in agricultural data management. The availability of various sensors, including vibration, temperature, and load, hastened the market's growth.

The constant technical breakthroughs in the semiconductor sector and the severe rivalry among manufacturers contribute to the market's expansion. Artificial intelligence (AI) is a potential technology that can fulfill the continued food needs of the agriculture sector by increasing production. All solutions improve the efficiency of agricultural operations by providing insights. Farmers can analyze real-time weather, temperature, moisture, and crop prices on the market thanks to the combination of the lot and powerful analytics provided by Al. 

All technologies reliably and concisely identify anomalies within a field, allowing farmers to swiftly and precisely locate a problem utilizing drones and robots. After hundreds of visible and infrared photos of each field have been taken using advanced software to identify damaged or nutritionally deficient regions, an algorithm builds a single field image. Farmers may focus on fixing impacted regions after the magnitude of the problem in a field has been recognized, thereby benefiting them in enhancing production and efficiency. Thus, driving the Farm Management Software market revenue.

Farm Management Software Market Segment Insights

Farm Management Software Agriculture type Insights

Based on agriculture type, the global Farm Management Software market segmentation includes precision farming, livestock monitoring, and fish farming. Precision farming dominated the market, accounting for 45% of market revenue. It entails using IoT and ICT to maximize production while conserving resources. In every discipline, hardware and software technology are utilized to analyze and treat naturally existing circumstances properly. The need for protein-rich aqua food drives the expansion of precision aquaculture farm management software. Furthermore, the proper amount of nutrients must be supplied to fish to boost their production of various kinds.

Farm Management Software Delivery Model Insights

Based on the delivery model, the global Farm Management Software market segmentation includes on-premise/web-based and cloud-based. The cloud-based segment dominated the market. According to estimates, cloud-based solutions will save expenses involved with operating and purchasing servers, paying for software licenses, producing backups, and maintaining security. The increased need for real-time data management via cloud computing, government assistance to promote advanced agricultural practices, and the increasing usage of agriculture software to maintain farm efficiency are key drivers driving market expansion.

Farm Management Software Service Insights

The global Farm Management Software market segmentation, based on service, includes managed service, professional service, and connectivity service. The managed service category generated the most income. Managed services entail contracting out the maintenance and predictability of numerous processes and procedures, ostensibly boosting operations and lowering budgetary expenses by removing directly engaged personnel. Farmers' growing usage of this service is to blame. Outsourcing or third-party services are similar to managed services. Most farmers employ managed service providers due to the specialized help required for drone data collecting.

Figure 2: Global Farm Management Software Market, by Service, 2022 & 2032 (USD Billion)

Global Farm Management Software Market, by Service, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Farm Management Software Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American, Farm Management Software market will dominate; Farm management software is expected to increase exponentially in North America, owing to the region's leading industrial automation sector and the adoption of artificial intelligence technologies. In wealthier countries, larger farms and farmer awareness lead to faster adoption of contemporary technology than in poor countries.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, India, Australia, Japan, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The European Farm Management Software market has the second-largest market share. The existence of multiple large farms, major technical breakthroughs, and a high adoption rate of the software are all factors leading to the area's growth. Furthermore, the German Farm Management Software market dominated, while the UK Farm Management Software market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Farm Management Software Market will develop at the quickest CAGR. Businesses in this region extensively spend on R&D to develop new technologies to enhance productivity. Furthermore, because most nations in this area rely on agriculture for a living, demand for farm management software is expected to expand. Furthermore, China's Farm Management Software market had the highest market share, while India's Farm Management Software market was the fastest expanding in the Asia-Pacific region.

Farm Management Software Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Farm Management Software market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Farm Management Software industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Farm Management Software industry to serve clients and expand the market sector. The Farm Management Software industry has provided some of the most important benefits recently. Major players in the Farm Management Software market, including Bushel., Deere & Company and others, are attempting to increase market demand by investing in research and development operations.

Bushel, located in Fargo, North Dakota, is an independently-owned software firm that is a major developer of software technology solutions for farmers, grain buyers, ag merchants, protein manufacturers, and food corporations. Bushel's agriculture platform has developed significantly since its inception in 2017, powering approximately 2,400-grain facilities across the United States and Canada with real-time commercial information for its producers. The platform currently spans more than 40% of grain origination in the United States and Canada, resulting in one of the strongest technological network effects in the United States among farmers and grain purchasers. 

Bushel's solution package comprises its main mobile app, websites, trading tools, digital payments and money facilitation, API services, market feeds, farm management software, and agriculture-focused bespoke software business. In March 2023, Bushel Inc. announces the release of Bushel Farm, the next generation in farm management software for farms and their agribusiness partners. The new product eliminates the stress of manual data entry for farmers and provides vital grain marketing analytics. Based on the company's FarmLogs solution, Bushel Farm provides a powerful feature set in both mobile and desktop environments while being simple to use.

Deere & Company is in the production and distribution of agricultural, turf, construction, and forestry equipment. They assist their clients in pushing the boundaries of what is possible in more productive and sustainable ways to help life progress. Their technology-enabled products, such as the John Deere Autonomous 8R Tractor, See & Spray, and E-Power Backhoe, are just a few examples of how they assist fulfill the world's growing need for food, housing, and infrastructure. In April 2022, In Kingsburg, California, Deere & Company and GUSS Automation launched a joint venture with an LLC. Global Unmanned Spray System (GUSS) is a semi-autonomous sprayer pioneer for orchards and vineyards.

Key Companies in the Farm Management Software market include

  • Deere and Company

  • Trimble Inc

  • AG Junction Inc

  • Raven Industries Inc

  • Iteris Inc

  • AG Leader Technology Inc

  • Dickey-john Corporation

  • SST Development Group Inc.

Farm Management Software Industry Developments

July 2022: Seedz has acquired the Farm Management Platform Perform. Seedz, a Gunderson Dettmer client, was represented in acquiring Perfarm, a farm data platform. Seedz's monthly subscription platform allows rural producers and resellers to earn a specific digital currency for perks like rebates, subscriptions, and farm management software. Currently, around 40,000 farmers utilize the technology, and the acquisition will assist in decreasing costs and aid in harvest decision-making. It greatly impacts a farmer's company when he is not digitalized. One of the most difficult issues is company planning, which includes determining what to expand and what inputs he needs. They decided to investigate the farm's everyday operations to assist the farmer in resolving these issues.

August 2022: According to Case IH and Raven Industries, the IH Triden 5550 applicator with Raven Autonom is the first autonomous spreader in the agriculture industry. This innovative solution satisfies the demand for self-driving vehicles to aid with labor difficulties and increase operational productivity.

Farm Management Software Market Segmentation

Farm Management Software Agriculture Type Outlook

  • Precision Farming

  • Livestock Monitoring

  • Fish Farming

Farm Management Software Delivery Model Outlook

  • On Premise/Web-Based

  • Cloud-Based

  • Service

Farm Management Software Service Outlook

  • Managed Service

  • Professional Service

  • Connectivity Service

Farm Management Software Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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