The global farm management software market is estimated to grow from USD 3.0 billion in 2023 to USD 5.1 billion by 2028 at a CAGR of 11.1% during 2023–2028
Some of the key factor contributing towards market growth includes increasing agricultural activities and the growing need for real-time data for decision-making, rapid urbanization and expanding population, shrinking of water resources, and continued climate change due to the increase in the emission of greenhouse gases, and increasing initiatives by governments pertaining to digitalization of agricultural industry.
New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Farm Management Software Market by Application, Offering, Farm Size, Production Planning and Geography - Global Forecast to 2028" - https://www.reportlinker.com/p06428022/?utm_source=GNW
Precision aquaculture application is projected to grow at the highest CAGR during forecast period
Based on application, farm management software market for precision aquaculture is projected to register the highest CAGR during the forecast period.The rising demand for protein-rich aqua food is facilitating the growth of farm management software for precision aquaculture.
To bring the number of fish production to a sufficient level, appropriate quantity of nutrients should be fed to the fishes, in accordance to their requirement.Hence, fish farmers use farm management software in order to track and identify the feeding requirements in proper proportions to increase production of fishes.
These drivers will lead to the market growth for precision aquaculture application in the farm management software market.
Production planning segment to hold largest market share throughout the forecast period
Rising implementation and usage of on-cloud platform in order to carry out real-time farm data management, along with the constantly increasing population, resulting in subsequent increase in demand for food throughout the world, are among the major factor responsible for higher market share for production planning stage in the farm management software market.
China likely to dominate farm management software market in Asia Pacific by 2028
China aims to progress aggressively in the agriculture field.Hence, the country is highly conducive to the growth of the farm management software market.
Support from the Government plays a key role in its agriculture sector’s growth.The Chinese Government is looking to incorporate sustainable agriculture mechanization (SAM) in agricultural practices to transform agriculture from a subsistent practice to a more market-oriented practice.
This can be achieved by incorporating technology into farming. According to the Chinese Academy of Agriculture Sciences, China uses technology for high-quality crops, pollution control, waste recycling, food processing, and automated vehicles.
Breakdown of profiles of primary participants:
• By Company: Tier 1 = 20%, Tier 2 = 45%, and Tier 3 = 35%
• By Designation: C-level Executives = 35%, Directors = 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
• By Region: Americas = 45%, Asia Pacific = 20%, Europe=25%, and RoW=10%
Major players profiled in this report:
The farm management software market is dominated by a few established players such as Trimble Inc. (US), Raven Industries (US), Topcon (US), Granular Inc. (US), AGRIVI (UK), and AgJunction Inc. (US).
This report offers detailed insights into the farm management software market based on offering (on-cloud, on-premise, data analytics services), application (precision farming, precision livestock, precision aquaculture, precision forestry, smart greenhouses), farm size (large, medium, small), farm production planning (production planning, pre- production planning, post- production planning) and region (North America, South America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) which includes the Middle East and Africa (MEA)) and Africa.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the farm management software market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the farm management software market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06428022/?utm_source=GNW
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