Europe Farm Management Software and Services Market Anticipated to Reach $1,204.5 M by 2023

Thursday 20 December 2018, Amsterdam

Market Research Report Press Release According to a new market intelligence report, titled 'Europe Farm Management Software and Services Market-Analysis and Forecast (2018-2023)’, the Europe farm management software and services market is expected to reach $1,204.5 million by 2023, rising at a CAGR of 15.52% from 2018 to 2023. The high growth is attributed to the increasing farm consolidation in the region along with the rapid employment of cloud computing solutions in real-time farm data management and government backing to implement advanced agricultural techniques.

A change in the farming structure across Europe due to farm consolidation in the region since the past four decades along with the growing need for the management of farm data has been the prominent reason for the development of innovative business models for farm management software. Farm management software provides a convenient and effective solution to the problems of handling a large amount of data generated from farms that are larger in size. Growing acceptance of smart agricultural systems integrated with software solutions such as big data, analytics, and wireless connectivity has been observed majorly in the countries such as Germany, France, the U.K., Italy, the Netherlands, and Spain. In other parts of Europe, majorly Eastern Europe, lack of infrastructure, awareness, and proper guidance is hindering the wide-scale adoption of farm management software solutions. However, farm land consolidation and declining farm labor in the region are expected to affect the farming structures of these nations. This increasing trend in the region toward farm consolidation is expected to create huge market opportunities for farm management software and service providers. Farm management software and services not only enable farmers to manage their data effectively but also allow them to make better informed decisions.

According to Arvind Pal, Analyst, in 2017, the cloud-based delivery model contributed more than 64% of the revenue and is expected to grow at a robust rate during the forecast period. Cloud-based services are finding widespread usage, as they do not require heavy investments upfront. The cloud-based software work on monthly subscriptions, reducing the risk of loss to a customer. Moreover, cloud-based services are faster and easier to use. Moreover, the farm management software and services market in the region was dominated by the precision crop farming application, which accounted for more than 33% of the total revenue generated in 2017. With the growing need for appropriate usage of agricultural inputs and variable rate, application-based software in the market are expected to further propagate the growth of precision crop farming in the Europe market. During the forecast period, applications in the indoor farming sector and aquaculture are expected to display the highest growth rates. Growing urbanized areas and increasing demand for fresh agricultural produce all around the year are expected to propagate the growth of indoor farming. Aquaculture is also witnessing greater integration of aquaculture management software for efficient breeding of aquatic species.

A dominant market share in Europe is contributed by the Germany and the U.K., which is expected to continue during the forecast period. However, during the forecast year, market growth optimism is expected to increase for countries such as the Netherlands, Poland, Russia, Poland, Austria, and Czech Republic, among others. The high market growth in these countries is attributed to the continuous investment by the government in the technological development of the agricultural sector.

The major established players in the market are focusing on product launches and developments to introduce new forms of innovations. Trimble Navigation, 365FarmNet, Hexagon Agriculture, Iteris, Conservis Corporation, and Topcon Positioning Systems were the most prominent names that surfaced in 2017 in this regard. In February 2018, InFarm - Indoor Urban Farming GmbH raised $25 million in Series A funding led by venture capital (VC) firm Balderton Capital. In May 2017, Trimble announced the launch of Irrigate-IQ, which was the industry’s first pressure regulating technology that allowed farmers to perform Variable Rate Irrigation (VRI) on center pivot irrigation systems with standard pumping equipment or limited well capacity.

This report is a meticulous compilation of research on more than 100 players in the farm management ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also covers 16 leading company profiles which include 365FarmNet GmbH, Agrivi, Agroptima S.L., Deere & Company, Hexagon Agriculture, Topcon Positioning Systems, Trimble Inc., DeLaval, Fullwood Ltd., GEA Group, Lely S.a.r.l, Motorleaf Inc., Infarm, Lettus Grow Ltd., AKVA Group, and Integrated Information Systems S.A.

Key questions answered in the report:
  • What is the Europe farm management software and services market size in terms of revenue along with the growth rate during the forecast period 2018-2023?
  • What is the revenue generated by farm management software and services for different applications?
  • What are the major types of delivery models in the farm management software and services market?
  • What are the key trends and opportunities in the market pertaining to countries included in the region?
  • How attractive is the market for different stakeholders present in the industry based on the analysis of the futuristic scenario of Europe farm management software and services market?
  • What are the major driving forces that are expected to increase the demand during the forecast period?
  • What are the major challenges inhibiting the growth of the Europe farm management software and services market?
  • What kind of new strategies have been adopted by the existing market players to expand their market position in the industry?
  • What is the competitive strength of the key players in the Europe farm management software and services market based on their recent developments, product offerings, and regional presence?
Europe Farm Management Software and Services Market - Analysis & Forecast, 2018-2023

Europe Farm Management Software and Services Market - Analysis & Forecast, 2018-2023

Publish date : December 2018
Report code : ASDR-473952
Pages : 269

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