Vancouver, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The Global Farm Management Software and Services Market is projected to be worth USD 3,015.5 million by 2027, according to the current analysis by Emergen Research. The growth of this market can be attributed to the rising need for farmers to increase farm profitability and productivity. Increasing government support to implement smart farming is a contributing factor to the growth of the market. Moreover, the emergence of technologically advanced agricultural domes is expected to drive the demand for farm management software & services. Growing utilization of site-specific crop management in order to reduce pesticide usage and enhance crop yield is stimulating market growth. Limited availability of arable land and declining agricultural workforce has increased the utilization of farm management software & services in farming practices over the forecast period.
Limited technological knowledge among farmers and high initial capital investment required for installing farm management software and service is expected to hamper the demand for the technology in the forecast period.
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Key Highlights From The Report
- In July 2019, John Deere entered into a partnership with Continental. The partnership was intended to help the leading technology company Continental expand its business as an original equipment supplier in the agricultural sector.
- The web-based software solutions held the largest market share of 58.4% in 2019, as it is more secure and easily accessible through smartphones, desktop computers, or tablets. The growing need to enhance farm operations is expected to propel the growth of the segment.
- The fish farming segment is projected to grow with the fastest CAGR of 15.6% over the forecast period. The growing global population and the increasing purchasing power of consumers are leading to a rise in the demand for fish food, which is expected to drive the segment's growth.
- The Managed Services segment is expected to register significant growth over the forecast period. The increasing need for technological advancements in the farm operation, analytics, and data services are anticipated to drive the segment's growth.
- North America contributed to the largest share of the Farm Management Software and Services market in 2019, owing to the presence of major farm management software providers in the region.
- Key participants include Deere and Company, GEA Group, Trimble Inc, Raven Industries, Agjunction, Delaval, The Climate Corporation, Iteris, Inc., Conservis Corporation, and Topcon Positioning Systems, Inc., among others.
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Emergen Research has segmented the Global Farm Management Software and Services Market on the basis of agriculture type, delivery model, service provider, and region:
- Agriculture Type Outlook (Revenue, USD Million; 2017-2027)
- Livestock Farming
- Precision Farming
- Smart Greenhouse Farming
- Fish Farming
- Others
- Delivery Model Outlook (Revenue, USD Million; 2017-2027)
- Cloud-based
- Web-based
- Service Provider Outlook (Revenue, USD Million; 2017-2027)
- Managed Services
- System Integrators
- Assisted Professional Services
- Maintenance & support
- Others
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- Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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