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Global Farm Management Software Market to Reach US$ 4.3 Billion by 2027, Impelled by the Rising Inclination Toward Modern Agricultural Practices

Published on Apr 19, 2022

According to the latest report by IMARC Group, titled "Farm Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Global farm management software market reached a value of US$ 2.3 Billion in 2021. Farm management software refers to a system that is used to manage, plan, assess, implement, and optimize the everyday operations of farming professionals. It includes crop scheduling, a communication platform, crop advisory, compliance, analyzing farm activities, and tracking business expenses and farm budgets. Farm management software commonly includes services, such as system integration and consulting, managed services, maintenance and support, and assisted professional services. This, in turn, helps in better risk management, optimizing the production activities, enhanced planning and tracking, monitoring farm production capabilities, and complying with regulatory requirements. As a result, farm management software finds extensive application in livestock monitoring, precision farming, fish farming and smart greenhouses.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Farm Management Software Market Trends-

The significant shortage of food across the globe due to the increasing global population is one of the key factors creating a positive outlook for the market. Farm management software aids in improving animal health and farm efficiency by providing predictive analytics and insightful outputs. Additionally, the widespread adoption of the software due to its numerous advantages, such as accurate traceability, reduction of input and labor costs, and improved planning and tracking, is favoring the market growth. Apart from this, various advancements in technologies, such as the integration of the Internet of Things (IoT), artificial intelligence (AI) and machine learning (ML) to track activities in real-time, automate record-keeping processes, increase efficiency, and aid in making informed decisions are providing an impetus to the market growth. Moreover, the increasing implementation of cloud-based platforms across the agriculture industry, along with the easy availability of high-speed internet connectivity are positively impacting the market growth. Other factors, including the rising need to monitor livestock performance, extensive research and development (R&D) activities and the implementation of various government initiatives promoting the use of chemical-free fertilizers, are anticipated to drive the market further toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.3 Billion by 2027, growing at a CAGR of 11.4% during 2022-2027.

Market Summary:

  • On the basis of the agriculture type, the market has been classified into precision farming, livestock monitoring, smart greenhouse, fish farming, and others.
  • Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based.
  • On the basis of the service, the market has been classified into system integration and consulting, maintenance and support, managed services, and assisted professional services.
  • Based on the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Ag Leader Technology, AGCO Corporation, AgJunction Inc., AGRIVI, Corteva Inc., Deere & Company, DeLaval, Microsoft Corporation, Raven Industries Inc. (CNH Industrial N.V.), RELX Group plc, Syngenta (China National Chemical Corporation), The Climate Corporation (Bayer AG), Topcon Corporation and Trimble Inc.

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