Market Report Coverage - Farm Management Software and Data Analytics
- Solution – Software (On-Cloud, On-Premise), Platform-as-a-Service
- Application- Precision Crop Farming, Livestock Farming, Indoor Farming, Aquaculture and Others
- Farm Produce- Cereals, Oil Crops, Fiber Crops, Pulses, Fruits, Vegetables, Tree Nuts, Roots and Tubers.
- Region – North America, South America, Europe, U.K., China, Asia-Pacific Japan, and Middle East and Africa
- North America – U.S., Canada, and Mexico
- South America – Brazil, Argentina, Chile, Peru and Rest-of-South America
- Europe –Germany, France, Italy, Spain, Netherlands, Russia, Poland, Ukraine, Czech Republic, Austria, and Rest-of-Europe
- Asia-Pacific Japan – Japan, India, Australia, and Rest-of-Asia-Pacific Japan
- Middle East Africa –Israel, South Africa, Saudi Arabia, and Rest-of-Middle East Africa
Market Growth Drivers
- Growing Necessity to Increase Efficiency in Farm Operations
- Increasing Farm Size
- Increasing Demand for Automation in Farming
Market Growth Restraints
- Depleting Farm Income Leading to Lesser Investments in Farm Software and Analytics
- Farmer’s Resistance to Share Farm Data Due to Privacy & Security
- Rise in technological advancements of Artificial Intelligence
- Increase in Government Initiatives to Facilitate Precision Agriculture Adoption
- Growth of Software-Integrated Precision Agriculture Solutions
Key Farm Management Software and Data Analytics Companies Profiled
365FarmNet GmbH, Agrivi, Agroptima S.L., Deere & Company, Hexagon Agriculture, Topcon Positioning Systems, and Trimble Inc, DeLaval, Fullwood Ltd., Lely S.a.r.l., Boumatic LLC, GEA Group, Motorleaf Inc., Infarm-Indoor Urban Farming GmbH, and Lettus Grow Ltd, XpertSea, Aquabyte, Aquanetix and Eruvaka Technologies, among others.
Key questions answered in this report:
- What is the estimated global farm management software and data analytics market size in terms of value for the period 2019-2025?
- What is the expected future scenario and revenue to be generated by different types of solutions including software and Platform-as-a-Service?
- What is the expected future scenario and revenue generated by farm management software and data analytics in different types of farming, including precision crop farming, livestock farming, and indoor farming, among others?
- What is the expected future scenario and revenue generated by the application segments for which farm management software and data analytics is offered, including crop yield monitoring and farm mapping, crop scouting, weather monitoring and forecasting, irrigation management, and animal growth and health monitoring, among others?
- What is the expected future scenario and revenue to be generated by the farm management software and data analytics operating for different farm produce, including cereals, oil crops, fiber crops, fruits, vegetables, and tree nuts, among others farm produce types?
- Which region is the largest market for the global farm management software and data analytics market?
- What is the expected future scenario and the revenue generated by different regions and countries such as North America, South America, Europe, Asia-Pacific & Japan, China, the U.K., and Middle East & Africa, in the farm management software and data analytics market?
- What is the competitive strength of the key players in the farm management software and data analytics market on the basis of the analysis of their recent developments, product offerings, and regional presence?
- Where do the key precision crop farm management software and data analytics companies lie in their competitive benchmarking, compared on the factors of market coverage and market potential?
- How is the funding and investment landscape in the global farm management software and data analytics market?
- How is the patents landscape in the global farm management software and data analytics market?
- What are the market dynamics of the global farm management software and data analytics market including market drivers, restraints, and opportunities?
- What is the SWOT analysis for leading companies in farm management software and data analytics market?
The global farm management software and data analytics market is projected to grow from $1.06 billion in 2020 to $4.31 billion by 2025, at a CAGR 32.32% from 2020 to 2025. The reported market growth is attributed to the increasing demand for efficient farm operations and cost-effective usage of resources. Rise in adoption of smart farming equipment such as sensors and controllers have increased the number of data points in farms, allowing greater usage of data analysis for monitoring and management. The rising concerns over global food security and sustainability have led to extensive investments by the governments across the world.
The farm management software and analytics has garnered the attention of various stakeholders amongst different farming types such as precision crop farming, livestock farming, indoor farming, and aquaculture. Catering to precision crop farming, the wide range of use cases found under this farming type for agricultural software solutions is driving the growth. Major use cases for precision crop farming under the application segment include yield monitoring and farm mapping, crop scouting, weather tracking, and forecasting, irrigation management, and farm economics.
The introduction of smart lights integrated with software is expected to augment the growth of farm management software and data analytics in the indoor farming sector. Moreover, depleting agricultural land and increasing demand for fresh agricultural produce all around the year are expected to propagate the growth of indoor farming
Impact of COVID-19 on Global Farm Management Software & Data Analytics Market
In 2020, the farm management software and data analytics market is expected to experience a downfall, due to the COVID-19 pandemic. During the COVID-19 outbreak, the supply chain of the agriculture industry has been disrupted. Companies are focusing on new strategies to develop more convenient tools to cater to the demand for food. Hence, the farm management software and data analytics industry are playing a critical role to cater to the unprecedented situation caused by COVID-19 by providing predictive analytics and insightful outputs to assist efficient crop growth and animal health.
The competitive landscape for the farm management software and data analytics market demonstrates an inclination toward the companies that are adopting strategies such as partnerships, collaborations, and joint ventures along with product launches and developments for introducing new technologies and enhance their existing product portfolio. With the increasing growth of the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, in March 2020, Farmers Edge entered a partnership with Nufarm Brasil Strike Landmark to digitize 3 million acres of agricultural land in Brazil. In January 2020, Farmers Edge entered a partnership with Lindsay Corporation to connect and digitize around two million irrigated acres of the land by the end of 2021. Similarly, in March 2017, Muddy Boots and Iteris, Inc. collaborated on the integration of ClearAg global weather information into the cloud-based Greenlight Grower Management System to enable the farmers to enhance decisions based upon the present and predicted field-level weather conditions to boost productivity and reduce risk.
Regional Market Dynamics
The global farm management software and data analytics market holds a prominent share in various countries of North America, Europe, Asia-Pacific & Japan, and Middle East & Africa. North America is at the forefront of the global farm management software and data analytics market, with high market penetration rate in the U.S., Canada, and others, which are expected to display robust market growth in the coming five years.
During the forecast period, the Asia-Pacific & Japan region is expected to flourish as one of the most lucrative markets for farm management software and data analytics. Asia-Pacific & Japan is expected to exhibit significant growth opportunities for farm management software and data analytics owing to the increasing urban population size, growing market penetration of Internet of Things, and favorable government support and investments for the adoption of farm management software and data analytics in farming operations.