Market Size – USD 0.99 Billion in 2019, Market Growth – CAGR of 14.1%, Market Trends – High demand from developing nations.
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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The COVID-19 impact:
As the COVID-19 crisis grows, producers are swiftly adopting safe strategy and techniques which are supposed to increase the demand for Farm Management Software and Services. The significant effect is the constraints in logistics, as it can be seen through a shortage in the supply of materials. The impact of COVID-19 is variable, depending upon the participants of the market and the locations. While seeing at the supply side, most of the Indian domestic producers of Farm Management Software and Services have resumed their plants’ post lockdown. In logistics, many countries are detaching the import-export policies post lockdown to recover the loss because of the epidemic.
Key participants include: Deere & Company, Trimble, Ag Junction, Raven Industries, Iteris, Ag Leader Technology, DeLaval, DICKEY-john, Topcon Positioning Systems, BouMatic.
For this report, Reports and Data have segmented into the global Farm Management Software Services Market based on Agricultural Type, Service Provider, Delivery Model, Application, and region:
Agriculture Type Outlook (Revenue, USD Billion; 2017-2027)
Service Provider Outlook (Revenue, USD Billion; 2017-2027)
Delivery Model Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Further key findings from the report suggest
Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Farm Management Software and Services Market Segmentation & Impact Analysis
4.1. Farm Management Software and Services Market Material Segmentation Analysis
……
Chapter 11. Company Profiles
11.1. Deere & Company
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Trimble
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. Ag Junction
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. Raven Industries
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Iteris
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
11.6. Ag Leader Technology
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Technology Insights
11.6.4. Strategic Initiatives
11.7. DeLaval
11.7.1. Company Overview
Continued….
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