Global Precision Farming Software Market to reach USD 1862.8 million by 2025.
Global Precision Farming Software Market valued approximately USD 533.7 million in 2016 is anticipated to grow with a healthy growth rate of more than 14.9% over the forecast period 2018-2025. Increasing focus of farmers on improving productivity, crop yield, and farm efficiency and growing use of web-based software for farming are the major factors which are driving the growth in the Global Precision Farming Software Market. However, the lack of human resources with proper technical knowledge, poor internet connectivity in some of the developing economies and legal restrictions associated with using personal data are the main reasons that hamper the market growth. The precision farming software is designed to improve yield and revenue of crops using data-driven insights. This software assists by providing information such as environmental factors, planting schedule and maintenance instructions that could affect the crop. The precision farming software also provides analytics features like yield size, expected waste and profit in the market, hence allowing farmers to make proper decisions during each growth cycle. This software often communicates with normal controllers being used as well as with hardware designed for particular use certain cases. This software is easy to maintain and can be updated easily. These help in storing data on secure and updated servers. Precision farming software help in weather tracking by providing up-to-date information on climatic conditions like wind speed and direction, temperature, rain and so on, this information help in taking decisions before severe and possibly dangerous circumstances occur, thereby protecting businesses.
The regional analysis of Global Precision Farming Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Delivery Model:
§ Local/web-based
§ Cloud-Based
By Application:
§ Yield Monitoring
§ Field Mapping
§ Crop Scouting
§ Weather Tracking and Forecasting
§ Inventory Management
§ Irrigation Management
§ Farm Labor Management
§ Financial Management
§ Others
By Service Provider:
§ System Integrators
§ Managed Services Providers
§ Assisted Professional Services Providers
§ Connectivity Services Providers
§ Maintenance, Software Upgradation, and Support Services Providers
By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Deere & Company, Trimble Inc, Agjunction, Inc., SST Development Group Inc., Iteris, Inc., Raven Industries Inc., AG Leader Technology, Conservis Corporation, Dickey-John Corporation, Farmers Edge Inc., The Climate Corporation, Topcon Positioning Systems, Inc., Key Innovators, Granular, Inc., Aururas S.R.L, Grownetics, Inc. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Precision Farming Software Market in Market Study:
§ Key Consulting Companies & Advisors
§ Large, medium-sized, and small enterprises
§ Venture capitalists
§ Value-Added Resellers (VARs)
§ Third-party knowledge providers
§ Investment bankers
§ Investors