Technavios global farm management software market research report forecasts the market to grow at a CAGR of over 16% during the forecast period.
The usage of farm management software for virtual fencing will be one of the major trends in the global farm management software market during 2018-2022. The herding of animals while grazing is a labor-intensive job, particularly in large farms. The grazing areas should be protected by fences to prevent animals from straying away. Installing fences around a large farm necessitate periodic maintenance and additional costs. Livestock software provides the option of virtual fencing that eliminates the need for physical fences.
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According to Technavio analysts, one of the key drivers for the global farm management software market is the growing popularity of precision farming:
Global farm management software market: Growing popularity of precision farming
Precision farming uses hardware and software tools to maximize farm production with fewer inputs. The software tools are used for purposes such as managing fertilizer input, monitoring crops, and managing tasks on the farm. The software tools use data collected from hardware, including crop yield and moisture content in the oil for monitoring crops.
According to a senior analyst at Technavio for research on power, Precision farming includes yield and soil mapping applications with input management. The yield and soil mapping are done by geographic information system software packages. These display desired data such as yield and soil nutrient information on a map. An easy-to-understand view about the yield and soil nutrient variability in the form of a map is helpful as farmers need to increase yield and improve soil nutrient concentration.
Global farm management software market: Segmentation analysis
This global farm management software market analysis report provides market segmentation by application (precision farming, livestock monitoring, aquaculture, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major applications, the precision farming segment held the largest farm management software market share in 2017, contributing to approximately 71% of the market. This application segment will dominate the global market throughout the forecast period.
The EMEA region held the largest share of the market in 2017, accounting for close to 41% share. It was followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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