The global farm management software market size is
anticipated to reach USD 4.22 billion by 2025, according to a new report by
Grand View Research, Inc., expanding at a CAGR of 16.7% during the forecast
period. The perpetual shortage of water along with growing population in
developing countries is compelling governments to seek different ways of
increasing food production.
A shift from inefficient traditional
agricultural methods to modern agricultural practices would help cope with
sustainability challenges in the agriculture industry, which is expected to
positively influence the farm management software market over the forecast
period.
Increasing awareness regarding benefits of
organic foods and their subsequently growing consumption are fueling the demand
for higher agricultural output. As a result, industry players are investing in
R&D activities to develop effective and efficient drones for enhancing productivity.
The Food and Agriculture Organization (FAO) estimated a 60% increase in the
demand for agricultural products by 2050, representing an approximate increase
by 1% per year, as the global population is likely to reach 9 billion by 2050.
Furthermore, growing middle-class population in emerging countries is poised to
stoke the demand for agricultural products such as vegetables and fruits.
Moreover, increasing uptake of healthier food is boosting the demand for
market.
Increasing focus of farmers on crop yield,
productivity, and farm efficiency is projected to provide a fillip to the
market over the forecast period. Advancements in technologies such as cloud
computing and Internet of Things (IoT) are anticipated to promote the usage of
big data, artificial intelligence, and robots in farming. Big data plays an
essential role in providing predictive insights in agriculture, redesigning
business process, and making real-time operational decisions for altering
business models.
Global IT companies such as IBM are
offering software solutions and big data analytics for precision farming
techniques. On the other hand, startups are moving upstream in the value chain
and extending their offerings to insurance and advisory services. The value
chain of the farm management software market includes suppliers, agricultural
OEMs, integrators & service providers, and customers.
Access Research Report of Farm Management
Software Market @ https://www.grandviewresearch.com/industry-analysis/farm-management-software-market
Further key findings from the report suggest:
· The emergence of big data, mobile
computing, and advanced sensing technology, which supports software are shaping
the farm management software market
· The cloud-based deployment model is
expected to witness the most promising growth, registering a CAGR of 19.5% over
the projected period
· The data, which is collected through
sensors and drones, is visualized through platforms developed by service
providers
· The managed services segment dominated the
market in 2016. Managed services are similar to third party or outsourced
services. Most growers adopt managed service providers for drone services as
collection of data using drones requires special assistance
· The North American market dominated the
market and was valued at USD 492.7 million in 2016
· Some of the key players in the market are
DeLaval International AB; CropMetrics LLC; Granular, Inc.; DICKEY-john
Corporation; Gamaya; and Raven Industries.
Grand View Research has segmented the
global farm management software market based on agriculture type, deployment
model, service, and region:
Farm Management Software Agriculture Type
Outlook (Revenue, USD Million, 2014 - 2025)
·
Precision farming
·
Livestock monitoring
·
Smart greenhouse
·
Others
Farm Management Software Deployment Model
Outlook (Revenue, USD Million, 2014 - 2025)
·
Web-based
·
Cloud-based
Farm Management Software Services Outlook
(Revenue, USD Million, 2014 - 2025)
·
System integration & consulting
·
Maintenance & support
·
Managed services
o
Data services
o
Analytics services
o
Farm operation services
·
Assisted professional services
o
Supply chain management services
o
Climate information services
Farm Management Software Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
Australia
·
South America
o
Brazil
·
Middle East and Africa (MEA)
Access Press Release of Farm Management Software Market@ https://www.grandviewresearch.com/press-release/global-farm-management-software-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
