JERSEY CITY, N.J., Dec. 14, 2023 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Farm Management Software and Data Analytics Market- By Solution (Software (On-Cloud Software, On-Premise Software), Platform-as-a-Service), By Application (Precision Crop Farming (Yield Monitoring and Farm Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Economics, Others), Livestock Monitoring & Management (Milk Harvesting, Animal Health Monitoring and Comfort, Feeding Management, Heat Stress and Fertility Monitoring, Others), Indoor Farming (HVAC Management, Lighting Management, Plant Development Monitoring, Others), Aquaculture (Feed Management, Aquatic Species Tracking and Navigation, Water Quality Management, Others), Others), By Farm Produce (Cereals, Oil Crops, Fibre Crops, Pulses, Fruits, Vegetables, Tree Nuts, Roots and Tubers), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the global Farm Management Software and Data Analytics Market is valued at US$ 3.61 Bn in 2022, and it is expected to reach US$ 12.79 Bn by 2031, with a CAGR of 15.52% during a forecast period of 2023-2031.
Farm Management Software and Data Analytics Market Report Scope
Report Attribute | Specifications |
Market Size Value In 2022 | USD 3.61 Bn |
Revenue Forecast In 2031 | USD 12.79 Bn |
Growth Rate CAGR | CAGR of 15.52 % from 2023 to 2031 |
Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
Historic Year | 2019 to 2022 |
Forecast Year | 2023-2031 |
Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered | By Solution, By Application, By Farm Produce |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; SouthEast Asia; South Korea |
Competitive Landscape | 365FarmNet GmbH, AgJunction, AGCO Corporation, Ag Leader Technology, Inc., Agrinavia, Agroptima, aWhere, Inc., BASF SECLAAS Group, CNH Industrial N.V., CropIn Technology Solutions Pvt. Ltd, CropX Inc., Deere & Company, DICKEY-john, EFC Systems Limited., Farmers Edge Inc., FarmLogs, Granular Inc., Hexagon Agriculture, IBM Corporation, Iteris, Inc., Kubota Corporation, Microsoft Corporation, Raven Industries Inc., SourceTrace Systems, SST Development Group Inc., The Climate Corporation (A Bayer AG Company), Topcon Corporation, Trimble Inc., Afimilk Ltd., AgriWebb and others. |
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Farm management software & data analytics is necessary nowadays to handle large-scale farm data produced daily, including details about plant health, soil, water usage, weather conditions, and temperature. The advanced technologies and applications for farm management can reduce human dependability and crop failure. They also help manage various field activities such as crop choices, crop scouting, real-time data analysis, yield monitoring, weather tracking, field mapping, irrigation management, and farm economics.
Fast farmer adoption of farm management software, growing innovations in AI-based agricultural technologies, high demand for better crop yields, government initiatives for development in data management solutions, technological advancements in agriculture management solutions and increasing farmers' interest in farm data management solutions' benefits. The COVID-19 pandemic has hampered the supply chain of agricultural industries worldwide. Hence, companies are developing advanced and more convenient farm management applications to manage the various field activities, which is likely to increase the demand for farm management software in the coming years.
Some Major Key Players In The Farm Management Software and Data Analytics Market:
- 365FarmNet GmbH
- AgJunction
- AGCO Corporation
- Ag Leader Technology, Inc.
- Agrinavia
- Agroptima
- aWhere, Inc.
- BASF SECLAAS Group
- CNH Industrial N.V.
- CropIn Technology Solutions Pvt. Ltd
- CropX Inc.
- Deere & Company
- DICKEY-john
- EFC Systems Limited.
- Farmers Edge Inc.
- FarmLogs
- Granular Inc.
- Hexagon Agriculture
- IBM Corporation
- Iteris, Inc.
- Kubota Corporation
- Microsoft Corporation
- Raven Industries Inc.
- SourceTrace Systems
- SST Development Group Inc.
- The Climate Corporation (A Bayer AG Company)
- Topcon Corporation
- Trimble Inc.
- Afimilk Ltd.
- AgriWebb
- BouMatic LLC.
- Connecterra B.V.
- Dairymaster
- DeLaval
- Evonik Industries AG
- Fullwood Packo.
- GEA Group.
- ISAGRI
- Lely S.A.R.L.
- Valley Agricultural Software
- Artemis
- Infarm - Indoor Urban Farming Gmbh
- Lettus Grow Ltd.
- MotorLeaf Inc.
- Tenacious Solutions Ltd
- Aquabyte
- Aquanetix Ltd.
- Chetu Inc.
- Eruvaka Technologies
- XpertSea
- Other Prominent Players
Market Dynamics:
Drivers-
Multiple factors such as the fast adoption of farm management software by farmers, growing innovations in AI-based agricultural technologies, high requirement for better crop yields, rising government initiatives to develop farm data management solutions, technological advancements in agriculture management solutions, growing usage of robots, drones, and sensors in agriculture, increasing farmers' awareness regarding benefits of farm data management solutions, and the surging demand for agricultural process automation are expected to drive the growth of the farm management software and data analytics market during the forecast period.
Challenges:
Farm data security and privacy concerns and farmers' economic challenges reducing farm management software investment may hinder market argumentation over the anticipated timeframe. Also, Crop management software solutions are unpopular among farmers in many regions due to their high initial cost, low ROI, cheap labor, and limited adoption of modern farming practices like precision farming, smart greenhouses, and livestock monitoring. Yield monitoring, advice, and variable rate technology are unavailable to most farmers in these countries.
Regional Trends:
Asia Pacific is expected to hold the highest share of the global farm management software and data analytics market over the coming years due to growing government support for agricultural automation and the increasing adoption of advanced agricultural technologies such as AI, robots, drones, and cloud-based platforms in farms.
Furthermore, the European region is anticipated to contribute significantly to the development of this market due to the growing demand for high-yield and fast implementation of AI-based technologies in agriculture.
Recent Collaborations And Agreements In The Market:
- In March 2023, 365FarmNet and UNIFORM-Agri partnered to provide dairy farmers with advanced herd management software, forming a comprehensive digital solution for farm management. The collaboration represented a notable advancement for 365FarmNet in meeting the needs of professional dairy farmers who sought to efficiently oversee their entire farm using a single software solution.
- In Jan 2023, Cropin, an agricultural data business headquartered in India, secured $13.7 million in Series D funding. Google and JSR Corporation were new investors in the round. In addition, the investors ABC Impact and Chiratae Ventures were also involved. The funds were used for the expansion of Cropin Cloud, the platform that consolidated the company's diverse applications and services for the agricultural sector.
- In Dec 2022, Raven Industries introduced two self-governing agricultural solutions, namely the Driverless Tillage Solution and the Driver Assist Harvest Solution, during CNH Industrial's Tech Day event in Phoenix, Arizona, 2022. These solutions enhanced the brand's existing Raven Autonomy portfolio by offering extra assistance across all stages of the cash crop production cycle, hence increasing the accessibility of future autonomy solutions for customers in many seasons.
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Market Segments
Global Farm Management Software and Data Analytics Market, by Solutions, 2023-2031 (Value US$ Mn)
- Software
- On-Cloud Software
- On-Premise Software
- Platform-as-a-Service
Global Farm Management Software and Data Analytics Market, by Application, 2023-2031 (Value US$ Mn)
- Precision Crop Farming
- Yield Monitoring and Farm Mapping
- Crop Scouting
- Weather Tracking and Forecasting
- Irrigation Management
- Farm Economics
- Others
- Livestock Monitoring & Management
- Milk Harvesting
- Animal Health Monitoring and Comfort
- Feeding Management
- Heat Stress and Fertility Monitoring
- Others
- Indoor Farming
- HVAC Management
- Lighting Management
- Plant Development Monitoring
- Others
- Aquaculture
- Feed Management
- Aquatic Species Tracking and Navigation
- Water Quality Management
- Others
- Others
Global Farm Management Software and Data Analytics Market, by Farm Produce, 2023-2031 (Value US$ Mn)
- Cereals
- Oil Crops
- Fibre Crops
- Pulses
- Fruits
- Vegetables
- Tree Nuts
- Roots and Tubers
Global Farm Management Software and Data Analytics Market, by Region, 2023-2031 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
- U.S.
- Canada
Europe Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Why should buy this report:
- To receive a comprehensive analysis of the prospects for the global Farm Management Software and Data Analytics market
- To receive an industry overview and future trends of the Farm Management Software and Data Analytics market
- To analyze the Farm Management Software and Data Analytics market drivers and challenges
- To get information on the Farm Management Software and Data Analytics market value (US$ Mn) forecast to 2031
- Significant investments, mergers & acquisitions in the Farm Management Software and Data Analytics market industry
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Artificial Intelligence in Livestock Farming Market
Vertical Farming Market
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