A report added by Radiant Insights, Inc. indicates that the global farm management software market is poised to reach a significant valuation by 2022. Farm management software provides farmers a suite of solutions to manage production activities, create operational plans, and make improved decisions. Increasing integration of the software with remote sensing technologies for constant monitoring to reduce the impact of natural calamities and disasters is likely to drive the market.
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Recent improvements in Internet connectivity across the world are estimated to stimulate the growth of the farm management software market. Rising incorporation of specific methods into farming to meet the continuously surging demand for food and need to avoid wastage can also supplement the growth of the market. In addition, growing global population is working in favor of the market.
Several governments across the globe are introducing policies that are encouraging the adoption of modern and advanced agricultural techniques. This, in turn, can provide a fillip to the market. Besides this, increasing steps taken by governments to strengthen intellectual property rights over agricultural innovations are promoting development of innovative farm management software.
The report “Global Farm Management Software Market Size, Status and Forecast 2022” is available now at https://www.radiantinsights.com/research/global-farm-management-software-market-size-status-and-forecast-2022
Growing implementation of virtual fences is also projected to positively impact market growth. Since fixing and maintaining fences is both time- and capital-consuming, it has escalated the need for virtual fences that are operated using remote sensors and network programming. Soaring popularity of cloud infrastructure is prompting farm management software-developers to launch cloud-based products. For instance, in November 2017, Topcon Agriculture introduced TAP, a cloud-based farm management platform that provides real-time monitoring and data analysis for intelligent decision-making at every phase of a farming cycle.
On the flip side, high cost of the software can inhibit market growth. Dearth of personnel with adequate technical acumen and poor standardization for managing data are expected to keep the market from realizing its utmost potential. Apart from this, poor Internet connectivity, especially in developing and less-developed countries, can hamper the upward climb of the market. Nevertheless, technological advancements and proliferation of smartphones are anticipated to shape the future of the market.
The global farm management software market has been divided based on type, application, and geography. On the basis of type, the market has been bifurcated into maintenance and support and managed services. In terms of application, the market can be segmented into crop farming and livestock farming.
The key regions analyzed in the farm management software marketreport are United States, Japan, Europe, Southeast Asia, India, and China. U.S. will be a major revenue contributor in the global arena through 2022. Domicile of a large number of key manufacturers and presence of several massive farms are likely to provide an upthrust to the market in the region. Rapid advancements in farm management technology, coupled with high acceptance of advanced software, are contributing to the growth of the region.
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Regions such as India and China will post noteworthy CAGRs between 2017 and 2022. Large population base of these countries and favorable measures taken by their governments to escalate the adoption of modern farming techniques are propelling the growth of these regional markets.
Some of the prominent companies operating in the farm management software marketare SST Development Group, New Science Technologies, Trimble Navigation Ltd., The Climate Corp, and Deere & Co.
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