Market Trends of Americas Precision Farming Software Industry
This section covers the major market trends shaping the Americas Precision Farming Software Market according to our research experts:
Cloud-based Precision Farming Software is Expected to Grow Significantly
- There has been an increasing deployment of cloud-based technology across the industries, which has stimulated the region's adoption rate of modern farming techniques. Hence, cloud-based precision farming software is expected to grow significantly during the forecast period.
- The region is viewing strategic partnerships and collaborations as a lucrative path for cloud-based solution providers to enhance their market presence. For instance, in March 2020, Sony Electronics collaborated with four ag-tech firms to create expanded farming solutions. One such company, Progeny Drone Inc., a Purdue University-affiliated startup, created Plot Phenix software that converts aerial crop photos into useful information for plant breeding, crop modeling, and precision agriculture.
- Due to the global coronavirus outbreak, several farmers and agritech startups are facing challenges. Hence, IBM is providing its weather monitoring tools for free during the strict Covid-19 lockdown. The US-based tech firm is offering a 30-day free trial of its Operations Dashboard, which was developed by its subsidiary, The Weather Company, to assist smallholders and supply chain-focused startups with decision-making.
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The United States is Expected to Dominate the Market
- The United States is expected to dominate the precision farming software market in the American region, owing to the massive transformation in the agriculture sector across the country. Certain factors such as rapid digitization and automation, implementation of IoT, growth of connected devices, etc. are seamlessly finding applications in the modern and sustainable farming and agriculture.
- Farming and agriculture are embracing digital transformations in the country over the past few decades, as it is becoming more industrialized and technology-driven. Also, agtech companies across the country are attracting investors from across the world, stimulating the adoption of smart technologies in the agriculture space.
- For instance, IoT America, a US company, deploy IoT solutions across rural America and provide IoT networks for agriculture and towns across the rural US. The company designs, installs, and manages wireless connectivity and value-added solutions for precision agriculture, livestock management, etc.
- Several regional companies are making innovations and developments to create enhanced solutions in the market, thereby capturing a larger share. For instance, in 2019, a precision agriculture intelligence platform, Taranis, launched the industry's first automated crop emergence and stand count solution. The addition of an emergency solution to the company's offerings reflects its vision to become the single-most comprehensive precision agriculture intelligence platform provider.
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