Farm management software manages and optimizes the production activities and operations of farms. Farm management software allows automatically recording and storage of data, facilitates the monitoring and analyzing of all farm activities, and streamlines production and work schedules. The global Farm Management Software market reached a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
Growth Drivers – Farm Management Software Market
Rise of Digital Agriculture
The farming industry is going through digital evolution. With the introduction of new digital technologies in Agriculture, the farming industry is getting digitalized with time. These advanced digital technologies have allowed farmers to collect and leverage vast amounts of critical data at minimal costs, which in turn, makes a farm’s field operations more insight-driven, and potentially more productive and efficient. Digital agriculture involves a range of advanced hardware, software and sensors such as drones, farm management software and others. Farm management software has been a crucial part of digital farming.
Commercialization of Agriculture
Previously a significant part of farmers was used to grow crops for themselves or village, but now the agriculture sector is going through marketing and farmers are producing vegetables for sale in national and even in the international market. Rapid commercialization of agriculture has resulted in revolutionary challenges in farming methods; farmers are adopting advanced technologies to maximize crop yield. Smart agriculture is another trend is another factor which has encouraged the growth of the global farm management software market. Smart agriculture market is likely to surpass USD 27 Billion by the end of 2020 at a CAGR of around 15% during the projected period. Further, this rise in smart agriculture technology is likely to bolster the growth of the global farm management software market.
Rising Food Scarcity
In the coming decades, the world population is expected to grow by 33%, to grow to almost 10 Billion by 2050. This horrifying growth in population will defiantly boost demand for food, and to meet the demand, the farming industry will have to adopt every possible technology and methods in future. Digital solutions such as farm management software have baked farmers to manage their farms efficiently and effectively.
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Barriers – Farm Management Software Market
High Cost of Farm Management Software
The digital evolution of farm requires excellent cost and input. This high price involved with the adoption of digital technologies has resulted in a low adoption rate in low-income countries. This weak adoption rate of digital technologies in low-income countries will hamper the market in coming years.
The farm management software market is segmented in different categories including by deployment type, and by agriculture type. The market is segmented by type into local/web-based, cloud-based, software as a service (SaaS) and platform as a service (PaaS). Among this segment, the local/web-based software segment is expected to capture significant shares of the market in 2018. Global local/web-based software segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the agriculture type segment, the farm management software market is further sub-segmented into precision farming, livestock monitoring, smart greenhouse, fish farming and others. Among which precision farming segment is about to register a remarkable growth rate in upcoming years.
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to farm management software market, North America is the leader in farm management software market. The North America region has acquired significant market shares and is poised to continue its dominance in the coming years. Growing number of digital farms and high agricultural technology awareness among America farmers are two major factors which have encouraged the growth of North America farm management software market in recent years.
The report also covers detailed competitive analysis of major market players of the global farm management software market, such as Agrivi, Cropio, Cropin Technology Solution, Croptracker, AgSquared LLC, Trimble Inc., AgriSight, Inc., Conservis, Farmbrite, FarmLogic and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
By Deployment Mode
- Software as a Service (SaaS)
- Platform as a Service (PaaS)
By Agriculture Type
- Precision Farming
- Livestock Monitoring
- Smart Greenhouse
- Fish Farming
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
- Cropin Technology Solution
- AgSquared LLC
- Trimble Inc.
- AgriSight, Inc.
- Other Major & Niche Players
The study also provides a company’s positioning and market share in farm management software market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Farm Management Software market by the following segments:
- Deployment Type
- Agriculture Type
Key Questions Answered in the Global Farm Management Software Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?