Farm Management Software Market by Application (Precision Farming, Livestock, Aquaculture, Forestry, Smart Greenhouses), Offering (On-cloud, On-premise, Data Analytics Services), Farm Size, Production Planning and Geography - Global Forecast to 2028
[319 Pages Report] 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. The growth of the farm management software market is largely driven by the increasing agricultural activities and the growing need for real-time data for decision-making. Artificial intelligence and machine learning are used in multiple farming applications including precision farming, livestock monitoring, precision aquaculture, smart greenhouse, vertical and indoor farming practices. Rapid urbanization and rising population, paired with water shortage issues and increased climate changes prove to be a driving factor for this market.
The impact of recession is likely to have a low-to-medium impact on the farm management software market. Even the prices for farming equipment are increasing; an increase in the need for software arises due to labor shortages for on sight production management in many parts of the world. Investment scenario in precision farming-related technology might witness a slight dip in the year 2023 due to glooming macro and micro factors across major developed regions. However, the precision farming segment is expected to provide attractive growth and investment opportunities from a medium-to-long-term perspective. The dairy farm segment within precision livestock is expected to have minimum impact, whereas precision livestock segments such as poultry and swine farm would be witnessing higher pain points in the short-to-medium time interval.
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Market Dynamics:
Driver: Increasing implementation of big data analytics in agriculture
Big data provides farmers with granular data on rainfall patterns, water cycles, fertilizer requirements, and more. Farm operators tend to make smarter decisions in aspect of crop health, growth, monitoring and appropriate harvest time for better profitability. Data analytics facilitates ease in precision agriculture or smart farming, which helps in cutting-down costs and increase yields. Big data helps in boosting the agricultural supply chain's efficiency by providing effective tracking and optimization options for delivery truck routes. This makes the food delivery cycle convenient to track from producer to market. It makes sure that food will not go to waste in the process.
Farm offices gather information regarding crop yields, fertilizer requirement, soil mapping, weather patterns, and animal health. This data helps to make appropriate decisions with regards to costs and yields. The use of water sensors helps to facilitate the ease in digital agriculture as to how the water usage should be planned for optimal usage of water. This can be particularly helpful in drought-prone areas. By combining AI with big data, farmers can get valid recommendations based on well-sorted real-time information on crop needs. This, in turn, will take away the guesswork and enable more precise farming practices such as irrigation, fertilization, crop protection, and harvesting.
Restraint: Requirement of high initial capital investment
According to the majority of farmers, farm management solutions are not cost-effective, and the cost required for hardware, software, and integration services is too high. The GPS technology-enabled devices for navigation and mapping applications are expensive, and the integration of guidance and sensing devices with farm management software and databases requires high initial investments. In developing countries such as China, Japan, and India, the impact of this restraining factor is high since the farmlands are fragmented, and the number of marginal farmers is high. Farmers need to pay an additional cost for the integration of software with the hardware devices and also for further consultation to use these software solutions as they are complex to use. The high cost of devices and software used for farm management is thus expected to restrain the growth of the farm management software market
Opportunity: Increasing use of drones and remote sensing for farm management
With the assistance of drones, farmers can track the crop density, moisture, water requirement and fertilizer requirement across the field remotely. They can also keep track of crop health, and growth with high precision. The accurate satellite data with higher resolution helps to deliver better results. Drones are also helpful in identifying the presence of pests, insects, and any irregularity in the fields. It can also track the invasion of rhodes and pests, which can be prevented by applying insecticide in hazardous areas using drones while reducing the likelihood of direct exposure leading to chemical poisoning.
Even though drones are easy to use and can collect large amounts of data within short time frames, using them constantly can be a challenge as they do not come cheap. Drones are almost helpless where mapping or monitoring of large areas is required, and it is better to complement the technology with satellite monitoring among already mapped areas where specific zones need to be cross-checked.
Remote sensing involves aerial or satellite scans of the Earth’s surface. For medium spatial resolution land remote sensing data gathered from space, Landsat is a better alternative. The Landsat 8 is an observation satellite that orbits Earth every 16 days. It records nine visible light bands helping assess crop health, nutrient content, insect infestation, or moisture. Not only does Landsat 8 record visible light, but also the one invisible to the human eye—Thermal Infrared Radiation (TIR). This increased usage of drones and remote sensing in agricultural fields can help create opportunities to strive for the growth of this market.
Challenge: Large presence of fragmented farms in developing countries
There are over 570 million farms around the world, and 95% of all these farms are less than 5 hectares in size. Developing countries such as India, China, and African countries account for a large number of fragmented farmlands. India is characterized by small farms, as more than 80% of farms in the country are less than 5 acres in size. Farmers in these countries are reluctant to use farm management software solutions mainly due to high initial investment for implementing farm management software solutions, low ROI, availability of cheap labor, and limited adoption of modern farming practices such as precision farming, smart greenhouse, and livestock monitoring. The majority of farmers in these countries do not have access to fundamental precision farming technologies, such as yield monitoring, guidance technology, and variable rate technology. These factors are challenging the growth of the farm management software market in these countries.
Precision farming segment likely to dominate overall farm management software market during the forecast period
The precision farming application held the largest share in farm management software market in 2022 and similar trend is expected to continue during the forecast period. Increasing demand for food arising from the rapid increase in population has prompted many farmers to adopt farm management software and other precision farming techniques. By using farm management software, the productivity of the farm can be enhanced by optimization of farming processes and conservation of resources. Processes such as site inspections and the application of fertilizers not only consume a lot of effort but also incur high costs. Farmers are adopting farm management software to reduce the cost incurred in such processes and obtain higher returns.
On-cloud offering holds the largest market share during the forecast period
On-cloud system tends to hold the largest market share during the forecast period due to increased convenience of data storage on a single cloud system for any given field by any farm operator across the globe. The maintenance and infrastructure cost is reduced when on-cloud systems are adopted; due to which its demand increases.
Small farms segment is expected to witness higher CAGR growth during the forecast period
The small farm segment of the farm management software market will grow at a higher rate during the year 2023 – 2028. Due to reduction in the prices of such farm management software as well as various technologies related to it, even the farmers in small farms have started to adopt these technologies, hence, resulting in the growth of this market segment.
APAC likely to witness highest growth in overall farm management software market between 2023 and 2028
Asia Pacific is likely to be the fastest-growing farm management software market during the forecast period. The growth prospects of the market in Asia Pacific are very high as farm management software is still a nascent technology in many countries in the region. The Asia Pacific region comprises many emerging economies, such as China, India, and Indonesia, to name a few. Relatively high availability of inexpensive labor, smaller farm sizes, low internet connectivity, and lack of awareness were responsible for the low adoption rate of farm management software initially. India has an average farm size of less than five acres. However, farmers frequently adopted farm management software and other smart farming techniques to increase productivity, making Asia Pacific the fastest-growing market for farm management software globally.
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Key Market Players
The farm management software market is dominated by a few globally established players such as Trimble Inc. (US), Raven Industries (US), Topcon (US), Granular Inc. (US), AGRIVI (UK).
These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.
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Report Metric |
Detail |
Market Size Availability for Years |
2019–2028 |
Base Year |
2022 |
Forecast Period |
2023–2028 |
Forecast Units |
Value (USD Million/Billion) and Volume (Million/Billion Units) |
Segments Covered |
By Farm Size, Farm Production Planning, Offering, Application, and Region |
Geographies Covered |
Americas, Europe, Asia Pacific, and RoW |
Companies Covered |
Granular Inc. (US), Raven Industries (US), AGRIVI (UK), Topcon (US), Trimble Inc. (US) |
This research report categorizes the Farm Management Software market, by farm size, farm production planning, offering, application and region.
Based on Farm Size:
- Small
- Medium
- Large
Based on Farm Production Planning:
- Pre-production Planning
- Production Planning
- Post-production Planning
Based on Offering:
- On-Cloud
- On-premise
- Data Analytics Services
Based on the Application:
- Precision Farming
- Precision Livestock
- Precision Aquaculture
- Precision Forestry
- Smart Greenhouses
- Others (Vertical Farming, Floriculture, Cannabis, Indoor Farming)
Based on the Region:
- Americas (North America, South America)
- Europe
- Asia Pacific
- RoW (Africa, Middle East)
Recent Developments
- In January 2023, AGRIVI partnered with Agrowex to offer premium digital agriculture solutions to South African countries. AGRIVI’s digital agriculture solutions along with AGROWEX’s knowledge and presence are expected to lead to a transformation in digital agriculture in countries such as South Africa, Botswana, Namibia, Angola, Zambia, Malawi, Mozambique, Swaziland, Lesotho, and Zimbabwe.
- In December 2022, AKVA Fusion aims to connect all parts of the industry, the new and the old, and create a new standard for communication, control, and data collection across platforms. Through AKVA Fusion, the AKVA ecosystem enables a set of APIs that enable seamless integration across solutions in the industry. The APIs make it possible to integrate AKVA Fishtalk and 4th generation AKVA connect with other digital solutions.
- In November 2022, AGRIVI launhed Field Ops, which is a new module, developed to provide an integrated overview of farmer’s fields, including growth, nutrition, yield, harvest.
- In October 2022, Trimble Inc. launched its digital displays – GFX-1060 and GFX-1260 for precision agriculture. This helps farm operators to view to complete in-field view and operations efficiently.
- In August 2022, Trimble and CLAAS entered into a strategic alliance to develop a next-generation precision farming system for CLAAS agriculture equipment. The alliance is expected to result in the combination of CLAAS' machine interface and Trimble's guidance capabilities into one common in-cab user experience.
- In March 2022, Granular Inc. enhanced its Granular Insights by integrating an additional Map Tab within the Granular Insights web application and select 2022 Crop Season from the dropdown menu in the Field List. It surfaces weather data within Granular Insights, so you can monitor how your crop is progressing or whether or not a farmer can work a field on a given day. It gives precipitation data, data of precipitation since planting, etc.
- In March 2022, AGRIVI partnered with Eviit GmbH (Germany) in order to expand its presence in Germany.
- In October 2021, AGRIVI launched SpaceSense, which delivers the most accurate precision farming maps for precision farming.
Frequently Asked Questions (FAQ):
What is the current size of the global farm management software market?
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.
Who are the major players operating in the global farm management software market?
Companies such as Trimble Inc. (US), Raven Industries (US), Topcon (US), Granular Inc. (US), AGRIVI (UK). These companies cater to the requirements of their customers by providing advanced farm management software with a presence in multiple countries.
What are the opportunities for the existing players and for those who are planning to enter various stages of the farm management software value chain?
There are various opportunities for the existing players to enter the value chain of farm management software industry. Some of these include increasing acceptance of advanced aquaculture systems like RAS-based aquaculture and Cage-based aquaculture farming.
Which region is likely to offer lucrative growth opportunity in the farm management software market?
Asia Pacific region is expected to offer lucrative growth opportunity in farm management software market due to the rapid increase in population and the consequent need to cope with the increasing demand for agricultural products.
How is competitive scenario in farm management software market?
The farm management software market is fragmented with the presence of many players including large players, startups, and small and medium enterprises. The top five players in the market accounted for a higher than 15% share in 2020.
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The study involved four major activities for estimating the size of the farm management software market. Exhaustive secondary research has been carried out to collect information relevant to the market, its peer markets, and its parent market. Primary research has been undertaken to validate key findings, assumptions, and sizing with the industry experts across the value chain of the farm management software market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.
Secondary Research
The study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the farm management software market. Few of major secondary sources includes International Federation of Robotics, International Livestock Research Institute (ILRI), International Society for Precision Agriculture, International Association of Horticultural Producers, and National Oceanic and Atmospheric Association (NOAA Fisheries).
Vendor offerings have been taken into consideration to determine the market segmentation. The entire research methodology included the study of annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles by recognized authors; directories; and databases.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the farm management software market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply-side players across key regions, namely, North America, Europe, APAC, and Middle East and Africa (MEA) and South America. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.
Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of farm management software market and its segments. The research methodology used to estimate the market size includes the following:
- Key players in the market have been identified through extensive secondary research
- The supply chain and the size of the farm management software market, in terms of value, have been determined through primary and secondary research processes
- Several primary interviews have been conducted with key opinion leaders related to farm management software market including key OEMs, IDMs, and Tier I suppliers.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
- Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
Global Farm management software market Size: Bottom-Up Approach
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Data Triangulation
After arriving at the overall market size from the market size estimation process explained in the earlier section, the overall farm management software market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying several factors and trends from both the demand and supply sides. Along with this, the farm management software market size has been validated using both the top-down and bottom-up approaches.
Report Objectives
- To describe and forecast the farm management software market, in terms of value, based on offering, farm size, farm production planning, application, and region
- To describe and forecast the farm management software market, in terms of value, for various segments with respect to 4 key regions, namely, Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
- To provide a detailed overview of the farm management software value chain
- To strategically profile the key players and comprehensively analyze their market ranking in terms of revenue and core competencies
- To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the farm management software market
- To map competitive intelligence based on company profiles, strategies of key players, and game-changing developments such as product launches, partnerships, collaborations, and agreements undertaken in the farm management software market
Available Customizations:
Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
- Additional country-level analysis of farm management software market
Growth opportunities and latent adjacency in Farm Management Software Market
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