According to the latest report by IMARC Group, titled “Farm Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the Global farm management software market reached a value of US$ 2.3 Billion in 2021. Farm management software refers to a system that is used to manage, plan, assess, implement, and optimize the everyday operations of farming professionals. It includes crop scheduling, a communication platform, crop advisory, compliance, analyzing farm activities, and tracking business expenses and farm budgets. Farm management software commonly includes services, such as system integration and consulting, managed services, maintenance and support, and assisted professional services. This, in turn, helps in better risk management, optimizing the production activities, enhanced planning and tracking, monitoring farm production capabilities, and complying with regulatory requirements. As a result, farm management software finds extensive application in livestock monitoring, precision farming, fish farming and smart greenhouses.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.’
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Global Farm Management Software Market Trends-
The significant shortage of food across the globe due to the increasing global population is one of the key factors creating a positive outlook for the market. Farm management software aids in improving animal health and farm efficiency by providing predictive analytics and insightful outputs. Additionally, the widespread adoption of the software due to its numerous advantages, such as accurate traceability, reduction of input and labor costs, and improved planning and tracking, is favoring the market growth. Apart from this, various advancements in technologies, such as the integration of the Internet of Things (IoT), artificial intelligence (AI) and machine learning (ML) to track activities in real-time, automate record-keeping processes, increase efficiency, and aid in making informed decisions are providing an impetus to the market growth. Moreover, the increasing implementation of cloud-based platforms across the agriculture industry, along with the easy availability of high-speed internet connectivity are positively impacting the market growth. Other factors, including the rising need to monitor livestock performance, extensive research and development (R&D) activities and the implementation of various government initiatives promoting the use of chemical-free fertilizers, are anticipated to drive the market further toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.3 Billion by 2027, growing at a CAGR of 11.4% during 2022-2027.
Competitive Landscape:
- Ag Leader Technology
- AGCO Corporation
- AgJunction Inc.
- AGRIVI
- Corteva Inc.
- Deere & Company
- DeLaval
- Microsoft Corporation
- Raven Industries Inc
- CNH Industrial N.V.
- RELX Group plc
- Syngenta
- China National Chemical Corporation
- The Climate Corporation
- Bayer AG
- Topcon Corporation
- Trimble Inc.
Key Market Segmentation:
Breakup by Agriculture Type:
- Precision Farming
- Livestock Monitoring
- Smart Greenhouse
- Fish Farming
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Service:
- System Integration and Consulting
- Maintenance and Support
- Managed Services
- Assisted Professional Services
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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