Global demand for farm management software market was valued at approximately USD 993.8 million in 2018 and is expected to generate revenue of around USD 2,517.4 million by end of 2025, growing at a CAGR of around 14.2% between 2019 and 2025.
The report covers forecast and analysis for the farm management software market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the farm management software along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the farm management software market on a global level.
As per the report, the global demand for farm management software market was valued at approximately USD 993.8 million in 2018 and is expected to generate revenue of around USD 2,517.4 million by end of 2025, growing at a CAGR of around 14.2% between 2019 and 2025.
Worldwide deployment of farm management software is trending at rapid pace. The software is extensively utilized for planning, monitoring, and analyzing every farm activities. Some of the well-known farm activities analyzed by the software are harvesting, crop protection, planting, irrigation, fertilization, and tillage, among others.
Worldwide flourishing internet penetration rate and applications in numerous industry verticals is propelling the market demand to a greater extent. Additionally, constant rise in demand for food production and pressure to reduce source wastage is further driving the market demand. After the deployment of the software, it requires relevant technical knowledge for smooth operation. Lack of skilled workforce and worldwide awareness is hampering overall growth of farm management software market to some extent. Moreover, rising government initiatives in agriculture sector and emerging technological advancements in developing economies is expected to result in benefitting market opportunities during forecast time frame.
The farm management software market is segmented on the basis of agriculture type, delivery model, service provider, application, and region. Based on agriculture type, the market is majorly classified into smart greenhouse farming, precision farming, fish farming, livestock farming, and others. Livestock farming segment is estimated to register notable growth rate during forecast time frame. Forestry, horticulture and orchid are included in others segment of the market. Delivery model segment of the market include cloud based, and local/web based. Platform as a Service (PaaS), and Software as a Service (SaaS) together are sub-segments of cloud-based solutions. Services provider segment is further categorized into maintenance, upgradation, and support services, managed services, system integrators, connectivity services, and assisted professional services. Farm management software is implied for diversified applications such as livestock monitoring applications, precision farming applications, smart greenhouse applications, fish farming applications, and others.
On the basis of geography, the farm management software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Geographically, North America held prominent share in global farm management software market, attributing to strong presence of countries with early adopters of farm management software. The United States and Canada altogether primarily contributes in driving the market demand in the region. Rapid acceptance rate of the software and availability of large farms plays crucial role in revenue contribution. The market is projected to witness rapid growth in developing Asian economies such as India and China. In Asia Pacific, the market is mainly driven due to flourishing technology integration in agriculture sector.
As the market demand is globally emerging, prominent farm management software market competitors are extensively getting involved in software upgradation. Globally renowned companies of farm management software market are AgJunction, Deere & Company, AG Leader Technology, Raven Industrie, Trimble, Topcon Positioning Systems, BouMatic, SST Development Group, GEA Group, Iteris, The Climate Corporation, DICKEY-john, FARMERS EDGE, and DeLaval, among others.
The report segments of global farm management software market are as follows:
Global Farm Management Software Market: Agriculture Type Segment Analysis
Global Farm Management Software Market: Delivery Model Segment Analysis
Global Farm Management Software Market: Service Provider Segment Analysis
Global Farm Management Software Market: Application Segment Analysis
Global Farm Management Software Market: Regional Segment Analysis
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