The global farm management software market is expected to reach USD 4.22 billion by 2025. The market is driven by factors such as proliferation of IoT, big data analytics and information & communication technology along with emphasis on cloud computing leading to recording and retrieval of real-time data management. In addition, rising population and enlarged demand for food worldwide coupled with government support to boost modern agricultural techniques is likely to boost the market growth in the forthcoming period. The farm management software market is expected to witness a CAGR of 16.7% in the forecast period.
The
global farm management software industry witnesses several opportunities such
as green initiatives for sustainable agriculture coupled with awareness in
farmers for precision agriculture and pursuance of modern agricultural
practices. However, rising food demands and farming challenges are likely to
create hindrance in the market during the forecast period up to 2025.
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Farming
systems are now embracing conceptual framework of web management to support
farm production systems. The web management system is trifurcated into decision
support sub-system, biophysical sub-system and decision support sub-system. In
addition, the web system encompasses project management idea scoupled with
model-view controller concepts. In reality, the farm management software
supports the farmers with enhanced yield and productivity and farm efficiency
is expected to gain a traction due to its proliferation worldwide. Big data
plays a significant role in giving predictive insights, rebuilding business
process and enabling real-time operational decisions for change in business
models.
The
farm management software industry segmentation includes agriculture, deployment
model, application, service provider and region. Deployment segment dominates
the farm management software market growth in the forthcoming period owing to
rise in cloud-computing and is anticipated to witness a CAGR of 19.5% during
the forecast period.
Geographical
segmentation for farm management software industry spans North America, South
America, Europe, Asia-Pacific, Europe, Middle East and Africa. North American
and South American farm management software market is expected to gain positive
traction in the near future. Factors such as rising demand for farm yield,
favorable policies by government, demand for agricultural solutions, and
inclination towards precision farming is likely to contribute to the market
growth in the forthcoming period.
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European
market is expected to gain a positive traction in the forthcoming period due to
government support, increasing R&D activities pertaining to smart
agriculture such as employing drones for enhanced production and building Aero
Farms for better agriculture yield. Middle Eastern and African market is
expected to gain a higher CAGR in the forthcoming period owing to rise in
R&D activities, use of GPS signals and monitoring of real-time data.
The
key players in the farm management software industry include Ag Leader
technology; CropZilla Software, Inc. AB CropMetrics LLC, Granluar Inc,
Dickey-John Corporation, The Climate Corporation; DeLaval; and Farm Edge, Inc.
Big players are now offering technological assistance such as Big data
analytics for smart farming whereas startups are expanding horizontally in the
value chain service by providing insurance, consulting and advisory services.
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