About the Farm Management Software Market
Farm management software includes all the software used for various processes involved in agriculture like crop management, inventory management, financial calculations and analysis, and customer management. The software is cloud-based or installed on-premises.This software allows farmers to gather data from farm equipment to detect soil containing nitrogen, water requirements, and leveling of surface for cultivation. This information is fed into the software to help farmers make real-time decisions for cultivation and other financial aspects.
Technavio’s analysts forecast the global farm management software market to grow at a CAGR of 16.81% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global farm management software market for 2016-2020. To calculate the market size, the report considers both the direct revenue and the indirect revenue of the vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Farm Management Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global farm management software market: Agrimap, Agrimaster, Agrinavia, Agrivi, Agroptima, N.S.T. New Science Technologies, Granular, and iAgri.
Other Prominent Vendors in the market are: AgCloud, Agri-Data, Farm Works, FarmLogs, TapLogic, and WMS (Wine Management Systems).
Commenting on the report, an analyst from Technavio’s team said: “A trend which is helping to boost market growth is the increased use of UAVs. Farm management software requires accurate information about agricultural land to optimize land management. Therefore, UAVs are increasingly used in the initial stages of agriculture projects for field management. UAVs acquire data using remote sensors and produce thermal, lidar, and multispectral imaging. Also, they are eco-friendly and do not pollute the atmosphere as they use solar or electric power. Many companies offer UAVs for efficient farming.”
According to the report, a key growth driver is the increased IPR in agriculture. Ancient methods of agriculture are incapable of handling the increased demand for food. Hence, innovation in the agriculture industry is required to invent more efficient and productive ways of farming to balance the demand and supply. However, the R&D in agriculture is a highly extensive business, predominantly managed by private funding. Unlike processes funded by the public, private institutions impede the process of innovation when the system does not generate revenue as expected. Revenues have direct impact on these institutions and investors. Hence, if the rights and interests of these institutions are not safeguarded, it can have an adverse effect on the R&D process.
Further, the report states that one challenge that could hamper market growth is data management.
Agrimap, Agrimaster, Agrinavia, Agrivi, Agroptima, N.S.T. New Science Technologies, Granular, iAgri, AgCloud, Agri-Data, Farm Works, FarmLogs, TapLogic, WMS (Wine Management Systems).
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook