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.
Browse full research report on 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
- Data
services
- Analytics
services
- Farm
operation services
- Assisted
professional services
- Supply chain
management services
- Climate
information services
Farm
Management Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- South America
- Brazil
- Middle East
and Africa (MEA)
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.
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