Farm Management Software and Data Analytics Market is Estimated to Reach $4,311.8 Million by 2025, Growing at a CAGR of 32.32% from 2020 to 2025

According to a new market intelligence report by BIS Research titled ‘Global Farm Management Software and Data Analytics Market − Analysis and Forecast, 2020-2025’, the farm management software and data analytics market is expected to reach $xx billion by 2025, rising at a CAGR of xx% from 2020 to 2025. The market growth is largely attributed to the growing necessity to increase efficiency in farm operations, increasing farm sizes, and rapid increase in the demand for automation in the farming solutions to manage the raw materials and resources effectively. The farm management software and data analytics provide a holistic vision on a single platform that facilitates growers to plan more efficiently, track several farm activities in real-time and take efficient decision.

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The growth of the market is further expected to be driven by the added benefits of these advanced solutions such as lower labor costs, integration, and accessibility associated with advance digital farming solution. In 2020, the farm management software and data analytics market is expected to experience downfall due to the COVID-19 pandemic. During the COVID-19 outbreak, the supply chain of the agriculture industry has been disrupted, and companies are focusing on new strategies to develop more convenient tools to cater to the food demand. Hence, the farm management software and data analytics industry is playing a critical role to deal with the unprecedented situation caused by COVID-19 by providing predictive analytics and insightful outputs to monitor the crop and animal health effectively.

The adoption of farm management software and data analytics is considered to be an advanced digital technological change in the farming sector, adapted to improve crop yield and mitigate the climate impact on agriculture among others, to meet the global food demand. The farm management software and data analytics enable the growers to manage, centralizes, and optimizes the farms' production activities and helps the farmer in decision-making, using that information throughout the production cycle. The agriculture industry has been witnessing a revolutionary phase owing to the introduction of IoT in farming in the past decade. The integration of advance equipment solutions has led to the generation of a huge amount of data that can be analyzed using different software and data analytics providing farmers with valuable insights to promote farm profitability. As the advancement in the practice of the utilization of advance tools drives the usage of advanced solutions, several challenges associated also restricted the adoption.

In countries such as China, India and Australia, large penetration of the Internet of Things systems have led to the rapid adoption of farm management software and data analytics. Additionally, the governments of different countries have also realized the importance and advantage of these advanced digital farming solutions, and thus their initiatives to promote farm management software and data analytics are also expected to drive the growth of the market. Some of the popular use cases of farm management software and data analytics include crop farming, livestock farming, indoor farming, and aquaculture. As per the agriculture applications, yield monitoring, farm mapping, irrigation, weather tracking, and animal health monitoring, among others, are where the farm management software and data analytics solutions have been successfully utilized.

The global farm management software and data analytics market witnessed a tremendous increase in developments along with the number of players in the market focused on innovation. During the period January 2017-June 2020, a total of $437.47 million investment and funding was generated by players in the market. There has been an increase of 127.62% from the amount invested in 2018 to that in 2019. For instance, Taranis, an agriculture intelligence software platform company, received $20 million from Viola Ventures, Finistere Ventures, Vertex Ventures, OurCrowd, Eyal Gura and Gal Yarden. The company received total investment and funding from round Series B.

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Key questions answered in the report:

• What is the estimated global farm management software and data analytics market size in terms of value for the period 2019-2025?

• What is the expected future scenario and revenue to be generated by different types of solutions including software and Platform-as-a-Service?

• What is the expected future scenario and revenue generated by farm management software and data analytics in different types of farming, including precision crop farming, livestock farming, and indoor farming, among others?

• What is the expected future scenario and revenue generated by the application segments for which farm management software and data analytics is offered, including crop yield monitoring and farm mapping, crop scouting, weather monitoring and forecasting, irrigation management, and animal growth and health monitoring, among others?

• What is the expected future scenario and revenue to be generated by the farm management software and data analytics operating for different farm produce, including cereals, oil crops, fiber crops, fruits, vegetables, and tree nuts, among others farm produce types?

• Which region is the largest market for the global farm management software and data analytics market?

• What is the expected future scenario and the revenue generated by different regions and countries such as North America, South America, Europe, Asia-Pacific & Japan, China, the U.K., and Middle East & Africa, in the farm management software and data analytics market?

• What is the competitive strength of the key players in the farm management software and data analytics market on the basis of the analysis of their recent developments, product offerings, and regional presence?

• Where do the key precision crop farm management software and data analytics companies lie in their competitive benchmarking, compared on the factors of market coverage and market potential?

• How is the funding and investment landscape in the global farm management software and data analytics market?

• How is the patents landscape in the global farm management software and data analytics market?

• What are the market dynamics of the global farm management software and data analytics market including market drivers, restraints, and opportunities?

• What is the SWOT analysis for leading companies in farm management software and data analytics market?

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Global IoT in Agriculture Market: Focus on Systems (Sensing, Communication, Cloud Computing, Data Management), Applications (Precision Crop Farming, Indoor Farming, Livestock Monitoring, Aquaculture) - Analysis and Forecast (2018-2023): https://bisresearch.com/industry-report/iot-in-agriculture-market.html

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This release was published on openPR.