Farm Management Software Market Sales Revenue Forecasts 2025 Analysis By Data from Major Countries and Covid-19 Analysis, Industry Trends, Growth, Scale, Segmentation, Future Demand, Latest Innovations

In a recent published report, Kenneth Research has updated the market report for Farm Management Software Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Farm Management Software Market products.

The Farm Management Software Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market synopsis

The farm management software and services market comprises of major applications that include record keeping, farm mapping, monitoring and forecasting, farm economics, and other applications. The farm management market is majorly driven by factors impacting the growth of the software and IT market such as growing demand for organic food and changing the lifestyle of people, profitability, and production with smart techniques implemented in farming. Additionally, the monitoring and observation of crops and cattle to yield additional production. The market for farm management software is expected to show a significant growth due to growing demand for a convenient cloud storage that has been widely incorporated in farm management software.

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Apart from the management of crops, farm management software is also used for tax management, profit center analysis, cost accounting, inventory management, livestock management, and financial management. These additional services and features benefit farmers to keep monitored ROI and manage expenses revenue by tracking all the vital information. Various governments have started investing and taking initiative for the need and importance of the management software, thereby promoting farming and agriculture drive the growth of the market. However, higher initial capital investment and limited technical expertise are some of the factors restraining the market growth.

Segmentation

On the basis of the agriculture type, the market is segmented into precision farming, livestock monitoring, fish farming, smart greenhouse farming, and others.On the basis of the delivery model, the market is segmented into on-premise/web-based, and cloud-based.On the basis of service providers, the market is segmented into managed service providers (farm operation services, data services, and analytics services), professional service providers (supply chain management services and climate information services), connectivity service providers,  maintenance, up gradation and support services.On the basis of the application, the market is segmented into record keeping, farm mapping, monitoring and forecasting, farm economics, and others.

Regional analysis

North America is expected to have the largest market share in the forecast period. This growth is due to the on-premise/web-based delivery model of farm management software. Additionally, the government amenability increased the need for farm yield, and growing demand for advanced farming solutions tends to drive the farm management software market. Farmers in countries like the U.S. and Canada are progressively accepting modern farming systems, components, and devices such as farm management software, mobile applications, cloud services, imagery services, hi-speed internet services, and data analytics services.

However, Asia Pacific is the fastest growing market due to the on-cloud delivery model of the farm management software market. The rate of acceptance of farm management software is expected to be high as the Asia Pacific comprises of emerging countries such as India, China, and Southeast Asian countries. Increased government spending, improved standard of living, urbanization, and growing awareness among agriculturists regarding advanced farming solutions are some of the key drivers for the growth of the farm management software market in this region.

Key players

The key players in the global farm management software market include Deere & Company (U.S.), Trimble Inc (U.S.), AG Junction, Inc (U.S.), Raven Industries, Inc. (U.S.), Iteris, Inc. (U.S.), AG Leader Technology Inc (U.S.), Dickey-John Corporation (U.S.), SST Development Group, Inc. (U.S.), Topcon Positioning Systems, Inc.(U.S.) among others.

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Global Farm Management Software Market, USD Billion

Intended Audience

Farm Management Software services providers

IT service providers

Farm equipment manufacturers

Government agencies

Cloud Service providers

Agriculture components manufacturers

Value-added resellers

Construction builders

Research Firms

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