Farm Management Software Market Insights | Key players: Deere & Company, Trimble, AgJunction, Raven Industries and AG Leader Technology
According to the new market research report "Farm
Management Software Market by Agriculture Type (Precision Farming,
Livestock Monitoring, Fish Farming, Smart Greenhouse Farming), Delivery Model
(Web Based, Cloud Based), Service Provider, Application, and Geography - Global
Forecast to 2023", The farm management software market was valued at
USD 748.0 Million in 2016 and is expected to reach USD 1,937.9 Million by 2023,
at a CAGR of 14.12% between 2016 and 2023. The increasing implementation of
cloud computing in real-time farm data management, growing population and
demand for food worldwide, governments’ support to adopt modern agricultural techniques,
strengthening of intellectual property rights over agricultural innovations,
and increasing focus on monitoring livestock performance and health to increase
farm efficiency are some of the significant drivers for the growth of this
market.
Precision farming agriculture type to hold a major share
of the farm management software market during the forecast period
Precision farming agriculture type is expected to hold the
largest share of this market between 2017 and 2023. The agriculture types
include precision farming, livestock farming, fish farming, smart greenhouse
farming, and others. Precision farming agriculture has the largest share of the
overall market owing to its extensive benefits in the farm management software
market. The market growth can be attributed to the increasing focus on farm
efficiency, crop yield, and productivity. The increasing demand for food
worldwide, extended profitability and production due to the implementation of
advanced techniques in farming, and monitoring of crops to yield production
benefits are some of the major factors contributing to the growth of the market
for precision farming. Also, the government initiatives worldwide are helping
farmers use optimized agricultural and technological tools and improve their
farm productions.
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The local/web-based delivery model is expected to hold
the largest share of farm management software market
Local/web-based delivery model is expected to hold the
largest share of the market between 2017 and 2023. The farm management software
market for the web-based delivery model is already popular among users due to
its easy accessibility compared with cloud-based software, which is still at
its nascent stage. Web-based software are simple agriculture and land
management software that allows the efficient management of key aspects of farm
operations such as land list, master data, and charts of accounts. Web-based
software is most preferred because it is secure and readily available on
smartphones, tablets, or desktop computers.
System integrator service providers held the largest
share of the farm management software market in 2016
System integrators play an important role in the integration
of the software and hardware equipment. System integrators are involved in
troubleshooting and diagnosing farm management solutions, as well as in
developing new concepts related to software and hardware equipment. The
independent system integrator recommends optimal component solutions according
to specific customer needs. It integrates numerous different subsystems
including farm management software, sensors, access control systems, fire control
systems, and camera systems. The increasing new hardware and software
installations in the farms are expected to create a market for system
integrators. Companies including Deere & Company (US), Trimble, Inc. (US),
and AgJunction, Inc. (US) provide system integration services to farmers. Also,
there are third-party system integrators who provide external support to these
companies.
The Americas held the largest share of the farm
management software market in 2016
The Americas held the largest share of the farm management
software market in 2016. The countries in the Americas region such as the US
and Canada are the early adopters of the farm management software, thereby
attributing to be one of the major reasons for the high growth of the said
market in this region. In addition, the presence of major farm management
software providers and favorable government regulations play a major role in
the growth of this market.
The farm management software ecosystem includes
manufacturers and resellers such as Deere & Company (US), Trimble (US),
AgJunction (US), Raven Industries (US), AG Leader Technology (US), SST
Development Group (US), DICKEY-john (US), Topcon Positioning Systems (US), The
Climate Corporation (US), Iteris (US), DeLaval (US), BouMatic (US), Conservis
(US), FARMERS EDGE (Canada), and GEA Group (Germany).
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