The farm management software market size is expected to grow from USD 748.0 million in 2016 to USD 1,937.9 million by 2023, at a CAGR of 14.12% between 2017 and 2023. The base year considered for the study is 2016 and the market size forecast is provided for the period between 2017 and 2023.
The major drivers for the market are increasing implementation of cloud computing in real-time farm data management, growing population and demand for food worldwide, governments’ support to adopt modern agricultural techniques, strengthening of intellectual property rights over agricultural innovations, and increasing focus on livestock monitoring to increase farm efficiency.
This report covers the farm management software market based on agriculture type, delivery model, service provider, application, and geography. The precision farming agriculture type is expected to lead the market between 2017 and 2023. Precision farming is expected to be the fastest-growing agriculture type in market due to increasing focus on farm efficiency, crop yield, and productivity. The increasing demand for food worldwide, extended profitability and production due to the implementation of advanced techniques in farming, and monitoring of crops to yield production benefits are some of the major factors contributing to the growth of the market for precision farming. Also, the government initiatives worldwide are helping farmers use optimized agricultural and technological tools and improve their farm production.
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Field mapping includes mapping the field; recording of field boundary; calculating the surface area; and registering sample location points, drainage tiles, grid locations, and data collection. Nowadays, field mapping is done with the help of handheld devices and other systems equipped with GPS/GNSS and farm management software systems that help farmers to achieve objectives related to crop productivity, along with cost-effective field mapping solutions.
Yield monitoring is an agricultural tool to collect data and identify the yield variability within a field accurately. The interpretation of this data allows farmer to take effective decisions about the resource allocation in the farms. Yield monitoring plays a vital role in understanding the field variability based on parameters such as soil type and nutrient availability, and helps farmers in maximizing their yields. Yield monitoring provides farmers with the information on weather conditions, soil properties, and fertilizers; this impacts the overall grain production.
Crop scouting helps in examining the conditions of crops, which includes weed patches, insects, fungal infection, and crop tissue nutrients. Traditionally, crop scouting process used to be carried out by walking and taking measurements in the fields on a regular basis and making a report manually, which was a tedious job and used to consume a lot of time and human efforts. Nowadays, crop scouting involves the use of sophisticated devices such as a GPS receiver on a vehicle, which moves through the field gathering field-specific information on pests, crop injury, harvesting, and others. The collected information is presented in a form of a report, which is made available in real time for a farmer. This facilitates farmers to prepare valuation reports and analyze data trend, to monitor in-season field-specific observation, and also use these reports for future references. Crop scouting is an important tool for making timely decisions during the phases of harvesting, pre-seeding, on-seeding, and after-seeding.
Farm management software market has different delivery models such as local/web and cloud based. The local/web-based delivery model includes software that is installed locally and can be considered as a static approach of using the software. A cloud-based delivery model is dynamic and includes software that can be used according to the customer requirements for data storage on the cloud; also, no physical infrastructure, such as servers and cables, is required for operating this model.
The farm management software market in APAC is expected to grow at the highest rate between 2017 and 2023. The adoption rate of farm management software is expected to grow at a high rate in APAC as this region consists of emerging countries such as India, China, and Southeast Asian countries. Rapidly increasing population, availability of arable farms, and government support through subsidies are the factors that are driving the adoption of the market in APAC.
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