Farm Management Software Market

Farm Management Software Market Size (2022 - 2027):

Farm Management Software Market is currently valued at 752 Million USD in 2021. The market is expected to grow at a CAGR of 13.8% over the forecast period to reach a valuation of 1852 Million USD in 2026.

Farm management software is used to boost the production, development, and growth of crops. Other uses of farm management software include tax management, cost accounting, livestock management, profit center analysis, and financial management. When all these forms of data are restored, farmers will benefit from a good return on investment and will also be able to manage their money economically.

Farm Management Software Market drivers, restraints, and opportunities:

Major factors which have helped drive the Farm Management Software Market forward are-

• Farm management software is applied on a wide scale in order to satisfy the increasing demand for food and to prevent food wastage.
• The Government of the different regions is taking initiatives and is also investing in the production of farm management software, thereby boosting the market growth.
• The use of technology has improved agricultural techniques that, in effect, have increased yields, which lead to increased use among farmers.
• The increasing adoption of cloud computing in smart farming techniques has given rise to market growth.
• Managed services include analysis, farm operations, and data services. These services help to maintain the quality standards of farm management software, thus improving crop production.

The factors holding the Farm Management Software Market back include:

• There are some factors that hinder market growth, including lack of technical awareness among farmers and poor internet connectivity.
• High capital investment required to implement such technologies is expected to reduce the growth of the industry
• The adoption of farm management software is growing every year, with farmers ' needs moving towards high productivity and return on investment. This has prompted many start-ups to enter the market, making it a competitive market.
• The implementation of IP rights increases the profit margins of technology enablers, attracts a number of companies in the industry and boosts the market for farm management software.
• Advances in technologies such as cloud computing and the Internet of Things (IoT) are expected to promote the use of big data, artificial intelligence, and robots in agriculture. Big data plays a key role in providing predictive insights into agriculture, redesigning the business process, and making real-time operational decisions to change business models.

REPORT COVERAGE:

Market Segmentation:

Farm Management Software Market - By Agriculture Type:

• Precision Farming
• Livestock Monitoring
• Fish Farming
• Smart Greenhouse Farming

Farm Management Software Market - By Delivery Model:

• Web-Based
• Cloud-Based

Farm Management Software Market - By Service Provider:

• System Integrators
• Managed Service Providers
• Assisted Professional Service Providers
• Connectivity Service Providers
• Maintenance, Upgradation, & Support Service Providers

Farm Management Software Market - By Application:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is the largest market as the adoption rate of farm management software by the farmers in this region is high. The demand for farm management software in APAC is expected to grow at the highest rate between 2021 and 2026. The rate of adoption of farm management software is expected to increase at a high rate in APAC, as this region is made up 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 driving the market uptake in APAC.

Key market players:

The Farm Management Software Market includes manufacturers and resellers such as Deere & Company (US), The Climate Corporation (US), Trimble (US), AgJunction (US), Conservis (US), AG Leader Technology (US), Raven Industries (US), SST Development Group (US), DICKEY-john (US), Topcon Positioning Systems (US), Iteris (US), DeLaval (US), BouMatic (US), FARMERS EDGE (Canada), GEA Group (Germany)