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Precision Farming Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The global precision farming software market is segmented by type into on-farm based and cloud-based software, by application into Crop Management, Financial Management, Farm Inventory Management, Personnel Management, Weather Tracking and Forecasting, and others. A detailed geographical analysis covers more than 16 demographics.
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016 - 2026
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
North America
CAGR:
16.7 %
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Market Overview
The global precision farming software market was valued at USD 993.24 million in 2019 and is anticipated to register a CAGR of 16.7% during the forecast period(2020-2025).
- Increasing awareness about the benefits of precision agriculture, in optimizing agricultural production, has resulted in a great boom in the precision agriculture market. With the growing food demand, owing to the increasing population, the adoption of precision agriculture tools is inevitable for farmers. The advancements and innovations in technology are the major factors driving the precision agriculture market, helping the farmers maximize their yield and minimize losses with efficient use of resources.
- North America is the largest and mature market for precision agriculture, followed by Europe. Together, these two regions constitute more than 50% of the precision agriculture software market, globally.
Scope of the Report
Precision agriculture software is a farm management software that uses information technology and ensures that soil, as well as crop, receive the optimum amount of nutrients needed to maximize the production, thereby increasing the crop yield. This approach helps the user to receive real-time information about plant health, soil requirements, weather predictions and cost of labor incurred to complete a particular task in the field. Various sensors in the field, such as satellite and robotic drones provide data and images, which help farmers take immediate decisions on providing fertilizers, water or crop protection chemicals needed by the crop, for normal functioning.
| Application | |
| Crop Management | |
| Financial Management | |
| Farm Inventory Management | |
| Personnel Management | |
| Weather Tracking and Forecasting | |
| Others |
| Type | |
| Local/Web-based | |
| Cloud-based |
| Geography | ||||||||
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| Rest of the World |
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Key Market Trends
Decreasing skilled labor in agriculture
Precision farming is a way of farming in which internet of things (IOT), softwares, and other technlologies are used to utilize farm inputs in an productive way to cut the cost. According to International Labor Organization, Globally, in 2016, 28.81% of human resource were engaged in agriculture are skilled. This has reduced to 28.40% in 2017 which further decreased to 28.26% in 2016. As precision agriculture needs skilled labor who are at acute shortage of availability, presicion farmers admire and tend to consume softwares that can be productive with the current challenge. This scenario is one of the major factors that pendulate the market forward.
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North America to Dominate the Global Precision Farming Software Market
North America is one of the most important regions in the world for precision agriculture apart from Europe and Brazil. Wide Area Augmentation System (WAAS), a GNSS based solution, is the most popular technology in North America. The segment has 66% of market penetration. A large potential for satellite-based devices and equipment lies in the North American Market. The market growth is primarily accelerated by the increasing demand for Real-Time Kinetic technology, fertilizer and sprayer controllers, robotics, variable rate irrigation, networks and remotes sensing technologies.AgLeader, Agri-vision, Blue River Technologies, Crop Venture Incorporated, Farm Works, Holland Scientifics are some of the precision agriculture software-based companies based in the United States market.
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Competitive Landscape
The results of the market share analysis indicate that the market is highly fragmented with various small and medium-sized companies and a few big players, resulting in stiff competition in the market. This is one of the major factors for the fragmented nature of the market.
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Table Of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Crop Management
5.1.2 Financial Management
5.1.3 Farm Inventory Management
5.1.4 Personnel Management
5.1.5 Weather Tracking and Forecasting
5.1.6 Others
5.2 Type
5.2.1 Local/Web-based
5.2.2 Cloud-based
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 AG DNA
6.3.2 AG Junction
6.3.3 AG Leader Technology
6.3.4 AGCO Corporation
6.3.5 Agribotix
6.3.6 Bayer CropScience AG
6.3.7 Case IH Agriculture
6.3.8 ClearAg Operations
6.3.9 Conservis Corporation
6.3.10 Deere & Company
6.3.11 Fairport Farm Software
6.3.12 IBM
6.3.13 Mapshots Inc.
6.3.14 Raven Industries
6.3.15 Topcon Positioning Systems
6.3.16 Trimble Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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