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The farm management software market size is forecast to increase by USD 2,128.21 million, at a CAGR of 11.29% between 2023 and 2028. The growth of the market depends on several factors, including the growing popularity of precision farming, the rising pressure of meeting food demand with limited resources, and the increase in data management requirements in farming. The latest market trends are driven by rapid digital transformation, increased focus on sustainability, and the growing adoption of artificial intelligence, big data, and automation. Consumer preferences for eco-friendly products, personalized experiences, and remote work solutions are shaping industries, while advancements in technology and data analytics drive innovation and efficiency.
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The farm management software market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The precision farming segment is estimated to witness significant growth during the forecast period. The increasing adoption of precision farming tools in farms is resulting in a simultaneous rise in the demand for farm management software and precision farming tools software. In addition, yield monitoring is an aspect of precision farming, through which farmers are provided with adequate information to make appropriate decisions in the field. Furthermore, yield monitoring software helps farmers map and compare the variability of yield based on data collected through sensors and drones.
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The precision farming segment was the largest segment and was valued at USD 561.84 million in 2018. Moreover, mapping of fields for the variable application of irrigation and fertilizers is possible using this data. In addition, yield monitoring and field mapping help in identifying high- and low-performing parts of the field. Furthermore, key companies that offer yield monitoring software for farm management include Ag Leader Technology and Trimble Inc. In addition, farm management software also keeps track of crop scouting and provides measures to counter different related problems. Hence, such factors are fuelling the growth of this segment, which in turn drives farm management software market growth during the forecast period.
The advantages of the cloud-based segment will increase the market growth. The cloud-based segment comprises the revenue generated from on-cloud software and associated services. In addition, there are two types of cloud-based software services available for precision farming, namely, software as a service (SaaS) and platform as a service (PaaS). Moreover, farmers can use on-cloud farm management software and access information from any device with an Internet connection without incurring high initial costs. Furthermore, they do not require to purchase and maintain their own server for running the software. Hence, such factors are fuelling the growth of this segment, fueling farm management software market growth during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The US is prominent in the farm management software market in North America. In addition, being a pioneer of technology adoption in agriculture, it was one of the early adopters of precision farming. Moreover, the US has always been at the forefront of technological adoption in the agriculture industry. In addition, the wide variety of farm management software offered by companies headquartered in the US shows the demand for farm management software in the country. Furthermore, major companies such as AGCO Corp., Ag Leader Technology, Deere and Co., and Trimble Inc. provide farm management software with new features, including big data and precision farming integration. Hence, such factors are driving farm management software market growth in North America during the forecast period.
One of the key factors driving the market growth is the rising pressure of meeting food demand with limited resources. As per the United Nations, the global population rose from 7.67 billion in 2019 to 8 billion in 2023. In addition, growing at the given rate, the global population is expected to be 8.25 billion by 2030.
Moreover, the growing population will lead to an increased demand for food, which will have to be supplied from constrained resources such as land and water in the coming years. In addition, the use of farm management software will help in better yield management. Furthermore, various mathematical models in farm management software are used for the prediction of the yield of a crop. Therefore, the software helps in increasing yields, which will result in better food security for a growing population. Hence, such factors are driving farm management software market growth during the forecast period.
A key factor shaping the market growth is the increasing role of big data in farm management. Big data collected from farms through sensors can be utilized to make improved farm management decisions and increase crop yields. In addition, the data can be analyzed to help improve crop and field patterns regarding soil nutrients, moisture content, recurring crop diseases and pests, and cyclical weather patterns such as temperature, rainfall, and snow.
Moreover, the data are collected through systems such as the global positioning system (GPS) trackers, soil sensors, drones, and satellites. In addition, global information systems (GIS) show the data collected through GPS in the mapped format to farmers to get a clearer picture of the farm's condition. Furthermore, big data in agriculture has significantly improved crop yields and reduced waste precision, and agriculture technologies, such as GPS mapping and sensor networks, can increase by up to 30% crop yields. Hence, such factors are driving the market growth during the forecast period.
Lack of awareness among farmers regarding farm management software are one of the key challenges hindering the market growth. Several farmers do not have the required skillsets to use farm management software, resulting in lower adoption. In addition, as farmers have specific problems to solve on their farms, the standard features of farm management software may not gain farmers' attention.
Moreover, choosing the right farm management software is an arduous task, which may be difficult for farmers. Therefore, these farmers do not feel the need to educate themselves on the advantages of technology, which hinders the usage of various farm management software. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder farm management software market growth during the forecast period.
The farm management software market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the farm management software market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGCO Corp: The company offers farm management software such as Fuse, which empowers farmers to make their individually best business decisions to maximize yields and profitability.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak. The farm management software market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 0 market companies, including Agrivi d.o.o., Bayer AG, CNH Industrial NV, Cropin Technology Solutions Pvt. Ltd., Deere and Co., Fairfax Financial Holdings Ltd., GEA Group AG, International Business Machines Corp., Iteris Inc., Kubota Corp., Madison One Holdings LLC, Nofence AS, RELX Plc, SemiosBio Technologies Inc., Syngenta Crop Protection AG, Topcon Corp., Trimble Inc., TSI Inc., and Microsoft Corp. Additionally, Ag Leader Technology provides farm management software, including SMS software that transforms field data into intelligent management decisions by leveraging information collected throughout the entire agricultural process, from planting to harvest.
The farm management software market is experiencing significant growth due to the increasing adoption of advanced technologies in agricultural activities. Real-time data and machine learning contribute to informed decision-making, while livestock monitoring and smart greenhouse enhance overall efficiency. Vertical farming and indoor farming address challenges posed by rapid urbanization, rising population, water shortage, and climate change. Despite challenges such as labor shortages and economic recessions, the market sees substantial investments, especially in precision farming-related technologies. The dynamics of the farm software market extend to various segments, including dairy farms, precision livestock farming, poultry farms, and swine farms. These technologies cover aspects like crop health, growth monitoring, harvest timing, agricultural supply chain optimization, delivery truck routes, farm offices, fertilizer requirements, soil mapping, and animal health management.
The farm management software market is gaining traction due to various factors like water shortage issues, climate changes, and recession, which are driving the need for efficient resource use. The investment scenario in farming equipment is evolving, with a focus on poultry and swine farms, especially during harvest time when fertilizer requirements peak. Machine learning plays a vital role in livestock monitoring, precision aquaculture, and smart greenhouse technologies, enabling better decision-making. Vertical and indoor farming are also becoming popular solutions to tackle rapid urbanization and the rising population. Labor shortages are addressed through automation and big data analytics, which assist in crop health and growth monitoring, ultimately improving profitability. Farm offices now utilize software to optimize crop yields, soil mapping, and track weather patterns, while ensuring animal health. This technology offers a comprehensive approach to managing farms, enhancing efficiency and sustainability in modern agriculture.
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Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.29% |
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Market Growth 2024-2028 |
USD 2,128.21 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.49 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 32% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ag Leader Technology, AGCO Corp., Agrivi d.o.o., Bayer AG, CNH Industrial NV, Cropin Technology Solutions Pvt. Ltd., Deere and Co., Fairfax Financial Holdings Ltd., GEA Group AG, International Business Machines Corp., Iteris Inc., Kubota Corp., Madison One Holdings LLC, Nofence AS, RELX Plc, SemiosBio Technologies Inc., Syngenta Crop Protection AG, Topcon Corp., Trimble Inc., TSI Inc., and Microsoft Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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