Farm Management Software Market - Growth Catalysts, Market Trends And Key Players

The global farm management software market is anticipated to gain significant traction over the forthcoming years due to the rising focus on the improvement of growth, yield, and development of crops. Other than crop management, farm management software is also used for financial management, livestock management, inventory management, cost accounting, and profit center analysis, and tax management. By keeping a track of such information, farm owners are able to maintain desired return on investment and thus manage their revenue.

The report on the global farm management software market serves as a repository of analysis and information regarding several parameters of the market including its dynamics, geographical segmentation, and competitive landscape. It provides a detailed overview of various software offered by key players in the market. It also offers insights into the statistics pertaining to the market. It takes both historic and current scenario into account to estimate future trends of the farm management software market.

The enhancement of internet connectivity worldwide is providing a tremendous boost to the growth of the global farm management software market. Moreover, to keep with the ever growing demand for food and avoid wastage, there is an increasing emphasis on precise farming methods. This is creating an upsurge in demand for crop and inventory management systems, thereby driving the market. Furthermore, several governments are introducing policies that are promoting the adoption of modern agricultural techniques, which in turn is fuelling the market. The increasing implementation of cloud computing in farm data management is also bolstering the growth of the market.

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On the other hand, the growth of the market is restrained by the dearth of personnel with adequate technical knowledge. The lack of proper internet connectivity, particularly in emerging countries, is also hampering the growth of the market. However, advancements in technology and rising penetration of smartphones are likely to open new avenues for players in the global farm management software market.

The key regional markets analyzed in the report are Asia Pacific, North America, Europe, and Rest of the World. North America will a prominent market for farm management software throughout the forecast period, with the U.S. and Canada being a major contributor. The availability of large farms and rapid technological advancements along with high acceptance are augmenting the growth of the region.

Asia Pacific will command for a large share during the same period. The majority of the population in countries such as India and China are dependent on agriculture for their livelihoods, which is likely to work in favor of the growth of the region. Moreover, favorable government initiatives and growing trend of corporate farming are propelling the growth of the region. The growth of the Rest of the World segment is primarily driven by the increasing demand for farm management software in Brazil and other countries with large lands available.

The global farm management software market comprises of a large number of regional and international players competing fiercely in terms of innovation and advancements in their offerings. The capital intensive nature of the market is creating a barrier for new players keen on venturing into the market. Some of the commonly available software in the market are Porcitec, EKA CTRM, FarmLogic, Hay&Crop Manager, Agrivi, VitSmarter Vineyard Software, TeaPac Millennium Edition, Crop Log, FarmERP, Land.db, GrainTrac, iAgri Online, CattleLink, Famous Software, GroMAX – Contract Farming, CenterPoint Accounting for Agriculture, iRely Grain, Hectus Livestock Manager, Accufarm Manager, Feed Mill Manager, ACCU – TRAC, DWorks for Precision Ag, Produce Inventory Control System Software, and Vaquitec.

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