“Increasing initiatives by governments pertaining to digitalization of agricultural industry is set to drive the farm management software market”
The global farm management software market is estimated to grow from USD 2.1 billion in 2021 to USD 4.2 billion by 2026 at a CAGR of 14.7% during 2021–2026. The growth of the farm management software market is driven by factors such as increasing implementation of cloud computing in real-time farm data management, growing population and subsequent rise in demand for food worldwide, and strengthening of intellectual property rights over agricultural innovations. Government support to encourage the adoption of modern agricultural techniques and focus on monitoring livestock performance and health to increase farm efficiency are also driving the growth of the farm management software market.
“Precision aquaculture application is projected to grow at the highest CAGR during forecast period”
The farm management software market for precision aquaculture is projected to register the highest CAGR during the forecast period, by application. The increasing demand for protein-rich aqua food is driving the growth of farm management software for precision aquaculture. Additionally, to increase the production of different types of fishes, adequate amount of nutrients as per the requirement must be fed to the them. Hence, fish farmers are increasingly using farm management software for feeding management to improve fish production. These factors are expected to drive the market growth of farm management software for precision aquaculture application.
“Production planning is estimated to hold the largest share of the market during forecast period”
The production planning of the farm management software market is estimated to register largest market share in 2026, by farm production planning. The main driver for the farm management software market in the production planning segment is the increasing implementation of cloud computing in real-time farm data management, growing population and subsequent rise in demand for food worldwide, and strengthening of intellectual property rights over agricultural innovations.
“APAC is projected to become the fastest growing geographical market between 2021 and 2026”
The farm management software market in APAC is projected to register the highest CAGR during the forecast period, by region. The growth prospects of the market in APAC are very high as farm management software is still a nascent technology in many countries in the region. However, due to the rapid increase in population and the consequent need to cope with the increasing demand for agricultural products, farmers are adopting farm management software solutions and other advanced agricultural practices in precision agriculture, livestock monitoring, and aquaculture farms.
Breakdown of profiles of primary participants:
- By Company: Tier 1 = 20%, Tier 2 = 45%, and Tier 3 = 35%
- By Designation: C-level Executives = 35%, Directors = 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
- By Region: North America = 45%, APAC = 20%, Europe=25%, and ROW=10%
Major players profiled in this report:
The farm management software market is dominated by a few established players such as Trimble (US), Raven Industries (US), Topcon Positioning Systems (US), Granular Inc., A Corteva Agriscience Company (US), Agrivi (UK), and AgJunction (US).
Research coverage
This report offers detailed insights into the farm management software market based on offering (on-cloud, on-premise, data analytics services), application (precision farming, precision livestock, precision aquaculture, precision forestry, smart greenhouses), farm size (large, medium-sized, small), farm production planning (production planning, pre- production planning, post- production planning) and region (North America, South America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) which includes the Middle East and Africa (MEA)) and Africa.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the farm management software market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the farm management software market and provides them information on key market drivers, restraints, challenges, and opportunities.
