Market Analysis and Insights
The farm management software market was valued at USD 2,000 million in 2020, and it is projected to reach USD 3,840 million by 2027, registering a CAGR of 11.2% during the forecast period of 2021-2027.
Key Findings of the farm management software Market Report:
- The global farm management software market was a highly fragmented market in 2020. Trimble Inc., Topcon Corporation, Raven Industries Inc., and Syngenta AG (Cropio Group) are some of the prominent players operating in the market. As the digital agriculture landscape continues to evolve, players are expanding their operations in different regions across the world. Expansions, partnerships, and mergers and acquisitions are some of the major strategies adopted by the players to strengthen their position in the market.
- The shortage of farm labor, with the decreasing area of arable land, is expected to drive the rate of adoption of farm management software among farmers, providing a boost to the overall market during the forecast period.
- As the demand for farm management solution is growing, companies are venturing into development of desirable digital solutions. For instance, Bosch and xarvio, a digital farming solution from BASF collaborated in the development of digital farming solutions. The collaboration aims to develop an intelligent system for target-based application of fertilizer and intelligent seed placement of seeds, which was to be launched in 2020 in South America.
- The digital agriculture with the advanced technologies allows the long-term cultivation of a wide range of crops, grown with the help of digitalization. Recent developments in the field of agriculture, to cater to casual growers and simplify technology and economics, are increasing the demand for digitalization in the market studied.
- North America is the largest market for farm management software market, with a market share of 47.5% in 2020. The United States, among all the regional countries, provides an attractive market potential for the players in the market. The Precision Connectivity Act, incorporated in the Farm Bill of 2018, aims at promoting effective policy and regulatory solutions that encourage the use of broadband internet access service on farms and precision agriculture. The recent collaboration of the US Department of Agriculture with Microsoft aims at cutting farm costs and increasing yields using the FarmBeats program.
- The digital agri-technologies and farm management technologies that are currently emerging to drive precision agriculture have the potential to address these challenges in the sector and improve the growth in South Africa. There are several opportunities in South Africa for Agritech and digital agricultural solutions to substantially increase resource use efficiency, profitability, transparency, market participation, and environmental sustainability. Precision agriculture is offered by many companies in South Africa, and they are undergoing much research at universities and institutions. The University of the Free State is conducting research on the feasibility of precision agriculture solutions in South Africa.
- The precision farming segment of the market studied was valued at USD 1,516.0 million in 2020, and it is projected to reach USD 2,914.6 million by 2026, witnessing a robust CAGR of 11.3% during the forecast period. The rising product innovation, coupled with the increasing focus toward profitability enhancement, backed up with the rising adoption of crop management software in large-scale farms, is likely to further accelerate the precision farming farm management software sales in the years to come.
- The US farm management software market was valued at USD 693.1 million in 2020, and it is projected to reach USD 1,392.5 million by 2027, registering a CAGR of 12.3% during the forecast period. The large-sized farms, high adoption rate by farmers, and the government initiatives in the country are boosting the market studied, during the forecast period.
Research Methodology
Our research methodology constitutes a mix of secondary & primary research which ideally starts from exhaustive data mining, conducting primary interviews (suppliers/distributors/end-users), and formulating insights, estimates, growth rates accordingly. Final primary validation is a mandate to confirm our research findings with Key Opinion Leaders (KoLs), Industry Experts, Farm Management Software includes major supplies & Independent Consultants among others
Market Segmentation
The Farm Management Software market is segmented on the basis of type, application, end-use industry, and region & country.
Global Farm Management Software Market by Type
Based on Farm Management Software type, the market is divided into type Desktop, Mobile. Farm Management Software market's sub-segment is expected to hold the largest market share during the forecast period. Increased demand for high-quality industrial valves in the ICT Media and other industries. Also to mitigate the risk of contamination is driving the demand for Farm Management Software at present. The growing concern about the market and industry is expected to boost the Farm Management Software market in ICT Media.
Global Farm Management Software Market by Application
Based on Farm Management Software application, the market is divided into Record Keeping, Farm Mapping, Monitoring & Forecasting, Farm Economics, Resources & Inventory Management, Others. Farm Management Software application valves are one of the most basic and indispensable components of today's modern technological society. Market segment is expected to hold the largest market share in the global Farm Management Software market.
Global Market Scope and Farm Management Software Market Size
The scope of the report is to provide a 360-degree view of the market by assessing the entire value chain and analyzing the key Farm Management Software market trends from 2021 to 2027 underlying in specific geographies. Qualitative and quantitative aspects are interlinked to provide rationales on market numbers, CAGR, and forecasts.
Farm Management Software Market Country Level Analysis
Most of the countries are estimated to emerge as a fastest growing region and hold the largest market share in the global industrial Farm Management Software market, mainly due to Growing industory trends of present situations, which cannot be ignored. Geographically, regional insights has been segmented on the basis of North America, Europe, Asia Pacific, South America and The Middle East And Africa region.
Key Farm Management Software market players identified in the report are listed below
PRAGMATIC, AgriWebb, AgSquared, Agrivi, Conservis, AgriOpenData, Agworld, Monsanto, Cropio, FarmLogs, The Climate Corporation, Granular, DeLaval, SST Softwares, Ag Leader Technology, Topcon Positioning Systems, Raven Industries, CropZilla Software, Inc., Farm Edge, Inc, FarmIQ, iAgri, Trimble Inc, Vital Fields, FarmERP, Deere & Company
Some of the other major highlights of the demand for Farm Management Software report include analysis, purchasing volume, prices, pricing analysis, and regulatory framework. Coverage on manufacturing structure, distribution channels, and Porter’s Five Forces analysis are also incorporated in the scope to provide analysis on the demand and supply side. This is anticipated to create opportunities for the growth of the Farm Management Software market during the forecast period.
COVID-19 Impact Analysis
- The COVID-19 pandemic had a significant impact on the on trade segment and Industry.
- Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Farm Management Software industry is expected to stabilize after 2021.
- The liquor industry was not impacted severely due to the pandemic.
Key Farm Management Software Market Trends
- The report identifies, determines, and forecasts the Global Farm Management Software Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Farm Management Software Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in the Farm Management Software Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Farm Management Software Market.
Table of Contents
Study Coverage: It includes key manufacturers covered, key market segments, the scope of products offered in the global Farm Management Software market, years considered, and study objectives. Additionally, it touches the segmentation study provided in the report on the basis of the type of product and application.
Executive Summary: It gives a summary of key studies, market growth rate, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
Production by Region: Here, the report provides information related to import and export, production, revenue, and key players of all regional markets studied.
Profile of Manufacturers: Each player profiled in this section is studied on the basis of SWOT analysis, their products, production, value, capacity, and other vital factors.
Farm Management Software Market Growth is segmented on the basis of market type, application, end-user and region.
Based on Type
Desktop
Mobile
Based on Application
Record Keeping
Farm Mapping
Monitoring & Forecasting
Farm Economics
Resources & Inventory Management
Others
Regions Covered
Americas
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Chile
Colombia
Rest Of Latin America
Europe
United Kingdom
Germany
France
Italy
Spain
Netherlands
Sweden
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Indonesia
Malaysia
Thailand
Philippines,
Vietnam
Rest of Asia-Pacific
The Middle East And Africa
Saudi Arabia
United Arab Emirates
South Africa
Iran
Turkey
Morocco
Nigeria
Algeria
Cameroon
Chad
Congo
Egypt
Kuwait
Rest of LAMEA
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