Technavio market research analysts forecast the global vineyard management software market to grow at a CAGR of more than 15% during the forecast period, according to their latest report.
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Technavio has published a new report on the global vineyard management software market from 2017-2021. (Graphic: Business Wire)
The report further segments the global vineyard management software market by deployment (cloud-based and on-premises) and by geography (the Americas, EMEA, and APAC).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global vineyard management software market:
- Increasing adoption of competitive pricing strategies
- Increased adoption of SaaS-based vineyard management software
- Demand for automated management of winery processes
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Increasing adoption of competitive pricing strategies
To thrive in a competitive market environment, software vendors are adopting competitive pricing strategies and promoting technological advances. Customers' needs and value perceptions are the prime focus of many vendors, and they provide value-based pricing models. The unique features and the value additions provided to the customers decide the price of the software.
Customers can focus on economic and market factors such as increasing ROI, adopting open-source software, and optimizing IT budgets using the vineyard management software. The high price of the software and constrained IT budgets has encouraged the vendors to re-evaluate the software pricing and delivery models as vendors must consider varying customer pricing preferences and budgets. During the forecast period, the adoption of vineyard management software among end-users will increase due to varying pricing structures.
According to Amrita Choudhury, a lead analyst at Technavio for IT professional services research, "The market is expected to experience growth in the coming years due to the increasing demand for beauty supplements. Flavonoids find extensive applications in the cosmetic industry due to their antioxidant properties. Many beauty supplement products contain flavonoids."
Increased adoption of SaaS-based vineyard management software
Enterprises are deploying software as a service (SaaS)-based vineyard management software, which is cost-effective and improves the overall effectiveness of the wine production processes. Even without additional installation and management of application software, remote access to data and services through a web-browser has been made easier. The advantages such as short implementation time have led to the increasing acceptance of SaaS-based vineyard management software over the traditional software packages. The implementation cost is reduced due to this and ROI for the end-users is also improved. One of the advantages of SaaS-based vineyard management software over traditional on-premises software is the minimal operational expense.
Demand for automated management of winery processes
One of the key drivers for the market is the rising demand for automated management of winery processes that helps wineries and wine distributors to simplify processes and reduce paperwork. It also helps to save administration costs and time by offering centralized management of wine production and distribution tasks. Vineyard management software also tracks processes such as bottling, warehousing, and distribution. This alongside its ability to ensure transparency in the winemaking operations has led to it gaining prominence among wineries and wine clubs.
Several wineries are moving away from manual processes and cumbersome spreadsheets due to the automation in wine management. The operations such as production and bottling, inventory and allocation management, the point of sale, wine club operations, and transferring the financial information to QuickBooks can be tracked with the help of Vineyard management software. One of the benefits of the software is that it ensures error-free data entry through validation
"Manufacturers offer flavonoid-containing weight management supplements and nutritional products in various forms such as capsules, tablets, and powders. For instance, InVite Health, a health and wellness brand, offers product lines including vitamins, supplements, beauty and skincare products, which contain flavonoids," saysAmrita
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