The global Farm Management Software and Services Market is forecasted to reach USD 3.24 Billion by 2027, according to a new report by Reports and Data. The rising trend of remote sensing technologies for consistent monitoring is propelling the market demand. The constant vigil provides farmers with real-time weather information and also enables them to reduce the impact of natural calamities. The proliferation of advanced technologies is driving market demand. Moreover, the adoption of virtual fences to separate paddocks while grazing is also encouraging market growth. As the maintenance of fences is getting expensive, the deployment of virtual fences is gaining traction.
The growing penetration of smartphones and high-speed internet is also driving the demand. Market players are leveraging high-speed internet to provide these advanced technologies to farmers, especially in Asian nations, such as India, China, Japan, and South Korea. However, the high capital required to deploy these technologies will restrain the market demand. Moreover, lack of technical expertise will also hinder the market growth.
North America has the highest adoption rate as farmers have enough capital to invest in modern equipment, and the region is quick in adopting the latest technologies. Moreover, companies like Deere & Company are providing software to aid farmers in controlling the tractors and farm equipment.
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Key participants include
Deere & Company, Trimble, Ag Junction, Raven Industries, Iteris, Ag Leader Technology, DeLaval, DICKEY-john, Topcon Positioning Systems, BouMatic.
Further key findings from the report suggest
Precision farming is practically equivalent to taking a pill to focus on illness. The arrangements are exceptionally custom-made from the sort of yield reasonable for a plot to the utilization of pesticides in focused districts as it were. Embracing precision cultivating decreases the cost and wastage, as custom-fitted needs of each plot are obliged.
Cloud-based deployment mode will witness an increased demand as they are cost-effective, and they are easier to use. They can be accessed through smartphones, tablets, and PCs as well. The segment will witness a CAGR of 14.1% during the forecast period.
The assisted professional services are expected to grow as it includes supply chain management services and climate information services. Farmers are eager to know about climate forecast and keep an eye on the changing weather, to reduce loss or damage of crops.
The Asia Pacific market is expected to affirm the most noteworthy CAGR of 14.3% over the forecast period. It is spearheading the revenue growth with China and Japan at the forefront. Organizations in the region are increasingly putting resources into R&D to introduce advanced drones to improve productivity.
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For this report, Reports and Data have segmented into the global Farm Management Software and Services market on the basis of resin type, composite phases, industry vertical, and region:
Agriculture Type Outlook (Revenue, USD Billion; 2017-2027)
Smart Greenhouse Farming
Service Provider Outlook (Revenue, USD Billion; 2017-2027)
Assisted Professional Services
Maintenance, Upgradations, and Support Services
Delivery Model Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Precision Farming Application
Livestock Farming Application
Fish Farming Application
Smart Greenhouse Farming Application
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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