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Farm Management Software Market Size
Farm Management Software Market size is expected to grow at a decent pace during 2024 to 2032, driven by a growing global population and changing dietary preferences, which has given rise to rising food insecurity. According to World bank, in 2022, up to 783 million people faced hunger, and projections indicate that by 2030, over 600 million people will continue to struggle to feed their families. Farm management software helps farmers optimize their production processes, mitigate risks, and ensure food security by maximizing crop yields.
Farm Management Software Market Trend
There is a growing emphasis on sustainability and environmental stewardship in agriculture, considering the gigantic nature of the industry and its resultant impacts. For instance, according to WWF, agriculture employs over one billion people and produces over $1.3 trillion worth of food annually, occupying about 50% of the Earth's habitable land and providing habitat and food for various species.
This has led to increased demand for farm management solutions that support regenerative farming practices, soil health management, and carbon sequestration initiatives. Farmers are looking for software tools that help them track and reduce their environmental footprint while improving long-term productivity and profitability. Moreover, climate change and environmental concerns are going to intensify the adoption of sustainable farming practices facilitated by advanced software solutions. This will shape the market outlook in the coming years.
Farm Management Software Market Analysis
Smart greenhouse application segment is poised to grow rapidly till 2032, as they integrate sensors, automation systems, and data analytics to create optimal growing conditions for crops. By providing precise control over environmental factors such as temperature, humidity, and lighting, smart greenhouses help farmers improve crop yield, quality, and resource efficiency. This will augment the market demand from smart greenhouses.
Cloud-based farm management software segment is set to gain traction in forthcoming years, due to their scalability, flexibility, and accessibility. These solutions enable farmers to access farm data from anywhere, at any time, using internet-connected devices. Integrated cloud-based platforms streamline farm operations by centralizing data management and facilitating collaboration among stakeholders, thereby inducing market growth.
Asia Pacific farm management software market is anticipated to showcase decent growth up to 2032, propelled by the increasing adoption of precision agriculture practices, government initiatives to modernize the agriculture sector, and the growing awareness among farmers about the benefits of farm management software. Countries like China, India, and Australia are investing in advanced agricultural technologies to improve productivity, enhance food security, and promote sustainable farming practices, thereby inducing industry growth.
Farm Management Software Market Players
Some of the leading companies involved in the farm management software industry include:
- Agrivi
- Deere & Company (John Deere)
- Trimble
- AG Leader Technology
- AgJunction
- Raven Industries
- DeLaval (Tetra Laval)
- SST Development Group (LexisNexis Risk Solutions Group)
- BouMatic
- Iteris
- GEA Group
- Farmers Edge
Companies are adopting various expansion strategies to strengthen their market presence.
Farm Management Software Industry News
- In January 2023, John Deere announced eight companies for its 2023 Startup Collaborator program, aiding in precision technology design for its equipment. This initiative, launched in 2019, previously led to successful collaborations, like with Bear Flag Robotics, later acquired by Deere in 2021 for autonomous tractor development.
- In July 2023, Bushel, a software technology company operating independently and specializing in the creation of digital solutions tailored for the agricultural supply chain, unveiled a pioneering addition to its product lineup, Bushel Farm: an automated grain contract entry feature.