Farm management software plays a vital role in various agriculture operations. It aids farmers in managing farming operations, farm financials, labor management, and assists in improving the profitability and productivity of the overall farm. The global farm management software market is projected to grow at a significant CAGR of over 15% during the forecast period. The primary factors that drive the growth of the global farm management software include the rise in the implementation of cloud in real-time farm data managing. The adoption of remote-sensing technologies is also on the rise. These technologies allow the classification of crop species, detection of water stress, mapping of soil properties, monitoring weeds, and crop diseases among the management of many others through the image captured. Thus, such properties encourage the farmers to manage the farm seamlessly, which, in turn, contribute towards the growth of the market. 

Further, the government is also supporting the farmers to implement this technology to improve productivity, which may also influence market growth during the forecast period. However, the lack of skilled personnel with technical knowledge to operate the software and poor internet connectivity are the factors that may hamper the growth of the market during the forecast period. Besides, technological advancements will aid to overcome the restrain and provide ample opportunities for market growth. 

Segmental Outlook

The global farm management software is segmented on the basis of deployment type and application. Based on the type the market is segmented into web-based and cloud-based. Based on the applications, the market is segmented into precision farming, livestock farming, smart greenhouse, and others such as fish farming and horticulture.

Global Farm Management Software Market by Application, 2018 (%)

Precision Farming to Significantly Contribute to the Market Growth

Amongst the application segment of the market, precision farming is expected to hold a significant share in the global farm management software market as it includes the precise applications of farming such as weather and crop needed to improve productivity, quality, and profitability in agriculture, inputs concerning soil, and many others. This also focuses on the reduction of the costs associated with the management which further influences the market growth. Precision farming involves the use of IoT and AI to preserve resources and optimize yields and thus help the farmers in controlling the amount of fertilizers to be applied to a farm field.

Regional Outlook

The global farm management software market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold a significant share in the global market during the forecast period. This is attributed to the increased investments by the companies to introduce advanced software. Further, the North American region is also estimated to be one of the key regions of the market, owing to favorable government support. For instance, the California government has offered a rebate on smart controllers. In addition, the increased spending by the government for the development and advancements of farms is driving the regional growth of the market. For instance, the New Jersey Economic Development Authority invested $9 million to AeroFarms for building the largest vertical farm in New Jersey, to harvest more food. 

Global Farm Management Software Market, by Region 2018 (%)

Market Players Outlook

Some of the prominent players operating in the global farm management software market include AG Leader Technology, AGJunction Inc., Boumatic LLC, Conservis Corp., Raven Industries, Inc., CropIn Technology Solutions Pvt. Ltd., Deere & Co., Dickey-john Corp., Trimble Inc., and many others. These companies are adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global farm management software market. 

Some of the open-source remote sensing software offered by the key players operating in the market includes Quantum GIS Semi-Automatic Classification Plugin (SCP), Opticks, PolSARPro, Optical, and Radar Federated Earth Observation (ORFEO) toolbox, among others.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Farm Management Software market. Based on the availability of data, information related to products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.