Farm Management Software Market

Market Leader - Farm Management Software Market

The global farm management software market is estimated to grow from USD 2.1 billion in 2021 to USD 4.2 billion by 2026 at a CAGR of 14.7% during 2021–2026.  The growth of the farm management software market is driven by factors such as increasing implementation of cloud computing in real-time farm data management, growing population and subsequent rise in demand for food worldwide, and strengthening of intellectual property rights over agricultural innovations. Government support to encourage the adoption of modern agricultural techniques and focus on monitoring livestock performance and health to increase farm efficiency are also driving the growth of the farm management software market.

Key players in the farm management software market include Trimble (US), Raven Industries (US), Topcon Positioning Systems (US), Granular Inc., A Corteva Agriscience Company (US), Agrivi (UK), AgJunction (US), Farmers Edge (Canada), Agworld (US), Deere & Company (US), IBM Corporation (US), SST Development Group (US), The Climate Corporation (US), Microsoft Corporation (US), Afimilk (Israel), Iteris (US), GEA Farm Technologies (Ukraine), CropX (Israel), Conservis (US), Cropio (Ukraine), CropIn (India), ec2ce (Spain), Gamaya (Switzerland), Connecterra (Netherlands), Aquabyte (US), and Eruvaka Technologies (India). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.

Trimble is one of the key players in the farm management software market. Trimble’s “agriculture” division provides solutions that solve complex technological challenges across the agricultural landscape. The company conducts extensive R&D on its products & services and had invested 470 million for the same in 2019. Product launches and developments are the major strategies adopted by Trimble to compete in the farm management software market. It has made consistent product enhancements and launched products between 2017 and 2019. For example, in 2018, the company upgraded its Trimble Ag Software with added features such as crop health imagery and work orders. This has helped the company to be one of the major players in the farm management software market. The company has weak presence in emerging markets across APAC, the Middle East, and Africa. As a result, the company faces high competition from start-ups and small innovative players
Raven Industries is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies. The company offers a wide range of products to help farmers improve yield. Services offered by the company include high-speed infield internet connectivity and cloud-based data management. The company is mainly focusing on product launches, mergers, acquisitions, and collaborations. In November 2019, Raven acquired Smart Ag Inc., a technology company that develops autonomous farming solutions for agriculture. In September 2018, the company signed a licensing agreement with Topcon Agriculture Group, a division of the Topcon Positioning Group. Raven Industries has a firm grip in the US, as well as in the European markets; in 2019, these geographies collectively accounted for ~92% of its revenue. The company has limited sales and distribution network and focuses only on the North American market. The company can focus on other markets, such as Europe, APAC, and Latin America, to sustain its position in the farm management software market.

Another important player in the farm management software market is Topcon Positioning Systems. Topcon Positioning provides advanced IoT-connected field and farm management solutions for aftermarket and OEM customers in the agriculture industry, integrating high-precision hard154ware, software, and data services to bring efficiency and enhance productivity to every phase of the farming operation. Topcon Positioning Systems focuses on partnerships and collaboration to maintain its market presence globally. Through partnerships and agreements, the company aims to create innovative products by integrating advanced technologies into its existing systems. For instance, Topcon Positioning’s collaboration with IBM resulted in the development of an AI-based software for agriculture. The company also has limited focus on inorganic growth strategies, such as acquisitions and collaborations in the farm management software market.

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Granular is one of the leading players in the farm management software market. The company’s innovative products help farmers to build more profitable and efficient farms. The company’s product portfolio is more focused on data science and data analytics. Unique software solutions offered by Granular help the global agricultural industry to stabilize and improve crop productivity. The company is recognized for its expertise in farm management software solutions, which utilize data science and agronomy to understand how climate variability affects different crops. Granular has adopted partnerships as its key strategy to grow in the farm management software market. For instance, in March 2018, Granular partnered with Planet, an integrated aerospace and data analytics company to incorporate its global satellite imagery data into the company’s farm management software suite. Similarly, in June 2020, the company partnered with Smithfield Foods, Inc., an American food company with agricultural roots and a global reach. Granular also partnered with John Deere to integrate its farm management software with John Deere’s Operations Center. The company faces stiff competition from new entrants and from vendors with a wide geographic presence. Intense competition among major farm management software solution vendors may increase pricing pressure in the global market.

Agrivi is a leading digital agriculture company in Europe; it offers a wide range of products/software for farm management applications. The company has developed innovative products to cater to the needs of customers from the farm management software market by combining its expertise in software technologies with inputs from farmers. Agrivi’s recent partnerships with key players in digital agriculture and software development space are expected to strengthen the company’s position in the farm management software market. For instance, the company acquired Agroklub’s eGAP, a digital agriculture tool, in 2019. The acquisition of Agroklub’s eGAP application will position it as a market leader in digital agriculture in Europe and one of the leading players in Croatia, with more than 90% market share in Croatia. In November 2020, the company secured EUR 4 million in a Series A round led by South Central Ventures, European Investment Fund, and Croatian Bank for Reconstruction and Development. With this, the company aims to expand its reach in key European markets and in the US. The company has a relatively weak presence in the emerging markets of the Middle East, South America, and APAC. As a result, the company faces fierce competition from global players, such as Trimble and Raven Industries, as they have a wider geographical reach and well-established distribution channel.

Other major players in the farm management software market are mainly focusing on acquisitions and partnerships along-with new product launches to achieve continuous and sustainable development.

Related Reports:

Farm Management Software Market with Covid-19 Impact Analysis by Application (Precision Farming, Livestock, Aquaculture), Offering (On-cloud, On-premise, Data Analytics Services), Farm Size, Production Planning, and Geography - Global Forecast to 2026

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Report Code
SE 4449
RI Published ON
3/9/2021
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