Rising Popularity of Precision Farming to Drive Growth of Farm Management Software Market Over The Forecast Period–2026

Tue, 28 May 2019 5:39

Farm management software provides a single platform that enables farmers to plant more efficiently, track activities in real-time and make the best decisions. It is an analytical system which collects, analyses, and enables informed decision making to ensure a farm operation reaches its true potential. Various governments have started investing and taking initiative for the need and importance of the farm management software, thereby promoting farming and agriculture drive the growth of the market.

Segmental Insights

Farm Management Market is segmented into agriculture type, deployment type, and by service type.

On the basis of agriculture type, farm management software market is segmented into precision farming and smart greenhouse. Precision farming is likely to grow at highest CAGR, due to rising key applications of precision farming includes yield monitoring, crop scouting, irrigation management, inventory management, and weather tracking.

By deployment model, the market is segmented into web-based, cloud-based. The cloud-based segment is expected to witness significant growth in the market, owing to higher adoption of cloud-based farmer management software market.

On the basis of services, farm management software market is segmented into system integration & consulting, maintenance & support, assisted professional services, and managed services. Managed service is expected to remain dominant in the farm management software market, owing to higher use of this service among the farms.

Regional Insights

By geography, the farm management software market is segmented into North America, Europe, Asia Pacific, and the LAMEA.

North America is projected to dominate in the farm management software market, due to the growing demand for advanced farming solutions in this region.

Europe is expected to grow at a significant growth rate in the farm management market, as agriculture is one of the main pillars of the European Union.

Asia Pacific is expected to grow at highest CAGR during the forecast period, owing to adoption of new advanced technologies and modern farming systems including cloud services, mobile applications, data analysis tools, and high-speed imagery services.

LAMEA is expected to increase at the significant growth rate, owing to increasing government investments towards the adoption of modern farming techniques.

Key Market Players

Some of the key market players in the farm management market are Deere & Company (U.S.), Trimble Inc (U.S.), Leader Technology Inc (U.S.), AG Junction, Inc (U.S.), SST Development Group, Raven Industries, Inc. (U.S.), Iteris, Inc. (U.S.), AG Dickey-John Corporation (U.S.), Inc. (U.S.), and Topon position System (U.S.)

The industry is fragmented in nature owing to the presence of many regional players. Big players in the industry are acquiring start-ups and small players to gain a considerable share. Agricultural equipment manufacturers are developing telematics systems, owing to increasing awareness of precision agriculture among farmers.

Telematic services of Raven Industries called “Slingshot”, offers real-time kinematic GPS correction signals, real-time technical support, and data transfer in the field.

August 2018- Trimble Inc. has launched a new agricultural software solution, Farmer Fit, to its lineup of Trimble® Ag Software solutions. The new software bundle equips farms of all sizes with field record-keeping and mapping system—available 24/7 on desktop or mobile platforms.

Farm Management Software Market Segmentation

By Agriculture Type

  • Precision Farming
  • Smart Greenhouse

By Deployment Model

  • Web-based
  • Cloud-based

By Services

  • System Integration & Consulting
  • Maintenance & Support
  • Assisted Professional Services
  • Managed Services

By Region

  • North America
  • Europe
  • Asia Pacific
  • LAMEA