The farm management software and services market comprises of major applications that include record keeping, farm mapping, monitoring and forecasting, farm economics, and other applications. The farm management market is majorly driven by factors impacting the growth of the software and IT market such as growing demand for organic food and changing the lifestyle of people, profitability, and production with smart techniques implemented in farming. Additionally, the monitoring and observation of crops and cattle to yield additional production. The market for farm management software is expected to show a significant growth due to growing demand for a convenient cloud storage that has been widely incorporated in farm management software.
Apart from the management of crops, Farm Management Software Market is also used for tax management, profit center analysis, cost accounting, inventory management, livestock management, and financial management. These additional services and features benefit farmers to keep monitored ROI and manage expenses revenue by tracking all the vital information. Various governments have started investing and taking initiative for the need and importance of the management software, thereby promoting farming and agriculture drive the growth of the market. However, higher initial capital investment and limited technical expertise are some of the factors restraining the market growth.
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Major Key Players:
- Deere & Company (U.S.)
- Trimble Inc (U.S.)
- AG Junction, Inc (U.S.)
- Raven Industries, Inc. (U.S.)
- Iteris, Inc. (U.S.)
- AG Leader Technology Inc (U.S.)
- Dickey-John Corporation (U.S.)
- SST Development Group, Inc. (U.S.)
- Topcon Positioning Systems, Inc.(U.S.)
On the basis of the agriculture type, the market is segmented into precision farming, livestock monitoring, fish farming, smart greenhouse farming, and others.
On the basis of the delivery model, the market is segmented into on-premise/web-based, and cloud-based.
On the basis of service providers, the market is segmented into managed service providers (farm operation services, data services, and analytics services), professional service providers (supply chain management services and climate information services), connectivity service providers, maintenance, up gradation and support services.
On the basis of the application, the market is segmented into record keeping, farm mapping, monitoring and forecasting, farm economics, and others.
North America is the leading region in the global Farm Management Software Market. Industrialization and various investment of the local and central government bodies towards agriculture and organic farming in the North American region and the presence of technologically advanced countries such as the U.S. and Canada are providing enterprises with a competitive advantage to take over the market of farm management software. Farmers in these countries are increasingly adopting modern farming systems and equipment such as farm management software, mobile applications, cloud services, imagery services, hi-speed internet services, and data analytics services. Additionally, this growth is due to the on-premise/web-based delivery model of farm management software.
Europe, on the other hand, holds the second largest share of the global farm management software market.
This stronghold over the market is due to the presence of several developed countries such as Germany, France, Italy, the U.K. and the Netherlands in the region.
On the other hand, Asia Pacific region is expected to emerge as the fastest growing market among all the regions during the forecast period. The market is majorly driven by the various initiative of the government of Asian countries such as China, Japan, and India for the adoption on-cloud based delivery model of the farm management software market. Additionally, South East Asia, China, and India are the largest potential markets where the enterprises are willing to make investment leading to heavy demand for agricultural products. In the last ten years, the governments of these countries have announced a various collaboration with the multinational companies for upgrading their current infrastructure. 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. Increased government spending, improved standard of living, urbanization, and growing awareness among agriculturists regarding advanced farming solutions are some of the key drivers for the growth of the farm management software market in this region.
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- Farm Management Software services providers
- IT service providers
- Farm equipment manufacturers
- Government agencies
- Cloud Service providers
- Agriculture components manufacturers
- Value-added resellers
- Construction builders
- Research Firms
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