Market Highlights
The market of farm management market is expected to grow at a significant rate and is majorly driven by factors like increasing demand for organic food against trending fast food. The lifestyle of people is changing as they are adopting a healthier lifestyle and farm grown food. Also, the effectiveness and optimized production, with the implementation of advanced techniques in farming, and monitoring of field yield additional benefit to the farmers. The market is segmented into agriculture type, delivery model, service providers, and application. This farm management software endorse cost-effective farming making it feasible and profitable for the farmers. However, the higher initial capital investment and lack of technical expertise in installation and troubleshooting of software are some of the factors restraining the market growth
Key players
The key players in the global farm management software market include 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.) among others.
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Segmentation:
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 Market: BY Component (Solutions and Services), Deployment (On-Premise and On-Cloud), Industry (Manufacturing, Transportation, Retail & Logistics, Healthcare, and Energy), Application (Internet, Mobile Applications, and Computer system) – Global Forecast to 2027
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