Farm Management Software Market by Agriculture Type (Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse Farming), Delivery Model (Web Based, Cloud Based), Service Provider, Application, and Geography - Global Forecast to 2023
“Increasing implementation of cloud computing in real-time farm data management, growing population and demand for food worldwide, and governments’ support to adopt modern agricultural techniques drive the growth of the farm management software market”
The farm management software market was valued at USD 748.0 million in 2016 and is expected to reach USD 1,937.9 million by 2023, at a CAGR of 14.12% between 2017 and 2023. The market growth can be attributed to the increasing focus on farm efficiency, crop yield and productivity, strengthening of intellectual property rights over agricultural innovations, and increasing focus on monitoring livestock performance and health to increase farm efficiency that drives the growth of the farm management software market. Major restraining factors for the growth of farm management software market include the requirement of high initial capital investment and a dearth of technical acumen.
“Farm management software market for fish farming application is expected to grow at the highest rate during the forecast period”
The increasing demand for fleet navigation and fish tracking services is the major driver for the high growth of farm management software market in fish farming. Fish farming has become a common practice to increase the income of practitioners and reduce the wage bill expended on fish importation. Fish farming, on the basis of application, has been segmented into fish tracking and fleet navigation, feeding management, water quality management, and others.
“Cloud-based delivery model is expected to grow at the highest rate during the forecast period”
Cloud-based delivery model is expected to grow at the highest rate during 2017 and 2023. The major reason for the high growth of the said market is the increasing adoption of cloud-based delivery model owing to its optimized performance, effective energy utilization, and ease of access. The cloud-based delivery model provides shared processing of resources and data to users on demand. The cloud-based model also provides on-demand and real-time availability, and access to the shared pool of data. In this model, users have more flexibility and access to data as they do not need any physical infrastructure for storing and processing the data.
“Farm management software market in APAC is expected to grow at the highest rate between 2017 and 2023”
APAC is one of the prospective markets for farm management software solutions. The adoption rate of farm management software is expected to grow at a high rate in APAC as this region consists of emerging countries such as India, China, and Southeast Asian countries. Rapidly increasing population, availability of arable farms, and government support through subsidies are the factors that are driving the adoption of the farm management software market in APAC. Some of the major players in the farm management software market are Deere & Company (US), Trimble (US), AgJunction (US), Raven Industries (US), AG Leader Technology (US), SST Development Group (US), DICKEY-john (US), Topcon Positioning Systems (US), and The Climate Corporation (US).
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key experts. The breakup of the profiles of primary participants is as follows:
• By Company Type: Tier 1 = 53 %, Tier 2 = 33%, and Tier 3 = 14%
• By Designation: C-Level Executives = 45%, Directors = 35%, and Others = 20%
• By Geography: Americas = 37%, Europe = 34%, APAC = 20%, and RoW = 9%
Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.
This report profiles the following key players in this market:
1. Deere & Company (US)
2. Trimble (US)
3. AgJunction (US)
4. Raven Industries (US)
5. AG Leader Technology (US)
6. SST Development Group (US)
7. DICKEY-john (US)
8. Topcon Positioning Systems (US)
9. The Climate Corporation (US)
10. Iteris (US)
11. DeLaval (US)
12. BouMatic (US)
13. Conservis (US)
14. FARMERS EDGE (Canada)
15. GEA Group (Germany)
This report covers the farm management software market based on agriculture type, delivery model, service provider, application, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as product launches, mergers and acquisitions, partnerships, agreements, and collaborations associated with the farm management software market.
Key Benefits of Buying the Report
The report would help the market leaders or new entrants in the following ways:
1. This report segments the overall market comprehensively and provides the closest approximations of the global farm management software market size and that of the subsegments across different applications and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them the information on key drivers, restraints, challenges, and opportunities in the farm management software market.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the farm management software market.