Farm Management Software and Services Market Size Expected to Reach USD 3.24 Billion at a CAGR of 14.1%, by 2027
Farm Management Software and Services Market Size – USD 0.99 Billion in 2019, 14.1% CAGR, Market Trends – Strong demand from developing countries.
NEW YORK, NY, UNITED STATES, September 24, 2021 /EINPresswire.com/ – The shift from inefficient traditional farming methods to modern farming practices in the agricultural industry stimulates 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 disasters. The proliferation of advanced technologies is stimulating market demand. In addition, the adoption of virtual fences to separate paddocks while grazing is also encouraging market growth. As fence maintenance becomes expensive, the deployment of virtual fences is gaining ground.
The growing penetration of smartphones and high-speed internet is also driving demand. Market players are leveraging high-speed internet to provide 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, as farmers have enough capital to invest in modern equipment, and the region quickly adopts the latest technology. 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
â¢ Precision farming is almost like taking a pill to focus on disease. The layouts are exceptionally personalized, from the kind of reasonable yield for a plot to the use of pesticides in targeted districts so to speak. Adopting precision cultivation reduces cost and waste, as the personalized needs of each plot are compelled.
â¢ Cloud-based mode of deployment will experience increased demand as they are cost effective and easier to use. They are also accessible via smartphones, tablets and PCs. The segment will experience a CAGR of 14.1% during the forecast period.
â¢ Assisted 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 climate change, in order to reduce crop loss or damage.
â¢ The Asia-Pacific market is expected to assert the most outstanding CAGR of 14.3% during the forecast period. It is the spearhead of revenue growth with China and Japan leading the way. Organizations in the region are increasingly devoting resources to R&D to introduce advanced drones to improve productivity.
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/farm-management-software-services-market
For this report, reports and data have been segmented into the global Farm Management Software Services market on the basis of agriculture type, service provider, delivery model, application, and region:
Agriculture Type Outlook (Revenue, USD Billion; 2017-2027)
Smart greenhouse agriculture
Service Provider Outlook (Revenue, USD Billion; 2017-2027)
Assisted professional services
Maintenance, upgrade and support services
Delivery Model Outlook (Revenue, USD Billion; 2017-2027)
Local / web-based
Application Outlook (Revenue, USD Billion; 2017-2027)
Precision Agriculture Application
Cattle breeding application
Fish farming application
Smart greenhouse agriculture app
Regional outlook (revenue, billion USD; 2017-2027)
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Frequently asked questions addressed in the report:
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