A recent report published by Infinium Global Research on farm management software market provides an in-depth analysis of segments and sub-segments in the global as well as regional farm management software market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional farm management software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global farm management software market. According to the report, the global farm management software market is projected to grow at a CAGR of 14.9% over the forecast period of 2019-2025.
Nowadays, several agricultural activities are being driven by data, smart farming technologies as well as the sharing economy model. Big data is already revolutionizing the sector by improving the process of supply tracking and supporting predictive modeling techniques amongst other things. Technologies such as the Internet of Things, Artificial Intelligence, Machine Learning, Precision Agriculture, etc., are being leveraged for crop and soil monitoring, predictive analysis, agricultural robotics, and variable rate technology, etc. The shared economy model is also playing a huge role in making sure that farmers are able to have access to farm machinery that they otherwise can’t afford.
Increasing implementation of cloud computing in real-time farm data management is the major driving factor for the farm management software market. Furthermore, factors such as increasing demand for organic food and changing the lifestyle of people, a growing population across the globe are other driving factors of the market. Increasing government support for the adoption of new technologies is fueling market growth. Governments of many countries are implementing policies that will help in promoting the employment of modern and advanced agricultural techniques. Industry players are investing in R&D activities to develop effective and efficient drones for enhancing productivity. However, high initial investment cost and lack of proper knowledge are restraining the growth of the market. Moreover, increasing use of smartphones in the farm management software is anticipated to provide growth opportunities to the market players.
Geographically, North America dominates the global farm management software market owing to the presence of several large farms and robust advancements in technology coupled with a high acceptance rate of the software in the countries such as the US and Canada. Asia-Pacific is the fastest-growing region due to substantial growth with the deployment of farm management software in countries such as China and India.
The report on global farm management software market covers segments such as agriculture type, delivery model, service providers, and applications. On the basis of agriculture type, the sub-markets include precision farming, livestock monitoring, fish farming, smart greenhouse farming, and others agriculture types. On the basis of delivery model, the sub-markets include on-premise/web-based, and cloud-based. On the basis of service providers, the sub-markets include system integrators, managed service providers, assisted professional service providers, connectivity service providers, and maintenance, upgradation, & support service providers. On the basis of applications, the sub-markets include farm mapping, farm economics, record keeping, monitoring, resource & inventory management, and other applications.
The report provides profiles of the companies in the market such as Deere & Company, Trimble, Inc., Agjunction, Inc., Raven Industries, Inc., Iteris, Inc., AG Leader Technology, Dickey-John Corporation, SST Development Group, Inc., Topcon Positioning Systems, Inc., The Climate Corporation, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of farm management software market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.