Farm Management Software and Services Market Size to Reach USD 3.24 Billion by 2027

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Reports and data

Farm management software and services market size – USD 0.99 billion in 2019, market growth – CAGR of 14.1%, high demand from developing countries.

NEW YORK, NY, USA, March 28, 2022 /EINPresswire.com/ — The shift from inefficient traditional farming methods to modern farming practices in the agriculture industry is driving market demand.

The Global Farm Management Software and Services Market is expected to reach $3.24 billion by 2027, according to a new report from Reports and Data. The growing trend of remote sensing technologies for consistent monitoring is propelling the market demand. Constant watch provides farmers with real-time weather information and also enables them to reduce the impact of natural calamities. The proliferation of advanced technologies is driving market demand. Additionally, the adoption of virtual fencing to separate paddocks during grazing is also encouraging the growth of the market. As fence maintenance becomes costly, the deployment of virtual fences is gaining momentum.

The growing penetration of smartphones and high-speed internet is also driving demand. Market players are taking advantage of high-speed internet to deliver these advanced technologies to farmers, especially in Asian countries such as India, China, Japan, and South Korea. However, the high capital required to deploy these technologies will limit market demand. Moreover, the lack of technical expertise will also hamper the growth of the market.

North America has the highest adoption rate because farmers have enough capital to invest in modern equipment, and the region is rapidly adopting the latest technologies. Additionally, companies like Deere & Company provide software to help farmers control tractors and farm equipment.

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The main participants are Deere & Company, Trimble, Ag Junction, Raven Industries, Iteris, Ag Leader Technology, DeLaval, DICKEY-john, Topcon Positioning Systems, BouMatic.

Other key findings from the report suggest

• Precision farming is almost like taking a pill to focus on disease. The arrangements are exceptionally tailor-made, from the type of reasonable yield for a plot to the use of pesticides in targeted districts so to speak. Adopting precision cultivation reduces costs and waste, as the personalized needs of each plot are compelled.
• Cloud-based mode of deployment will see increased demand as they are cost effective and easier to use. They are also accessible via smartphones, tablets and PCs. The segment will witness a CAGR of 14.1% during the forecast period.
• Supported professional services are expected to grow as they include supply chain management services and climate information services. Farmers are eager to know the weather forecast and keep an eye on the changing weather, in order to reduce crop loss or damage.
• The Asia-Pacific market is expected to assert the most remarkable CAGR of 14.3% over the forecast period. It is spearheading revenue growth with China and Japan leading the way. Organizations in the region are increasingly investing resources in R&D to introduce advanced drones to improve productivity.

To identify key industry trends, click the link below: https://www.reportsanddata.com/report-detail/farm-management-software-services-market

For this report, reports and data have been segmented into Global Farm Management Software Services Market on the basis of Farm Type, Service Provider, Delivery Model, Application and Region:

Agriculture Type Outlook (Revenue, USD Billion; 2017-2027)

• Precision farming
• Breeding
• Aquaculture
• Smart greenhouse agriculture
• Other

Service Provider Outlook (Revenue, USD Billion; 2017-2027)

• System integrators
• Managed services
• Assisted professional services
• Connectivity services
• Maintenance, upgrades and support services

Delivery Model Outlook (Revenue, USD Billion; 2017-2027)

• Local/web-based
• Cloud-based

Application Outlook (Revenue, USD Billion; 2017-2027)

• Precision farming application
• Breeding request
• Application for fish farming
• Smart greenhouse agriculture app
• Other app

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• Europe
• Asia Pacific
• AEM
• Latin America

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Frequently asked questions addressed in the report:

• What is the forecast size and revenue CAGR of the global Farm Management Software and Services market?
• What are the major factors driving the growth of the Global Farm Management Software and Services Market?
• What are the latest trends influencing market growth?
• What are the looming risks and challenges that may impede the growth of the industry?
• Who are the major companies operating in the global agricultural management software and services market?

Thank you for reading our report. Please contact us to learn more about the report and its customization feature. Our team will ensure that the report is well suited to meet your requirements.

Tushar Rajput
Reports and data
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