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Farm Management Software Global Market Report 2024: Size, Share, Growth, Trends, Forecast to 2033
Farm Management Software Market
According to The Business Research Company's, The farm management software market size has grown rapidly in recent years. It will grow from $2.72 billion in 2023 to $3.10 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to adoption of precision agriculture techniques, increasing complexity of farm operations, demand for real-time data and analytics, emphasis on sustainable farming practices, and integration of iot and sensor technologies.
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Market Drivers and Trends:
The increasing initiatives by the government pertaining to the digitalization of the agriculture industry are expected to propel the growth of farm management software going forward. Government initiatives pertaining to the digitalization of the agriculture industry encompass the strategic integration of emerging disruptive digital technologies, such as the Internet of Things (IoT), big data and analytics (BDA), and artificial intelligence (AI), to advance various aspects of agricultural practices. Government initiatives can provide funding and support for the development and implementation of farm management software, enabling companies to invest in research and development, as well as offering comprehensive training programs to enhance technological literacy. For instance, according to the USDA 2022 Highlights, a US-based agriculture organization, in 2022, the USDA allocated $500 million through a new grant program to bolster independent, innovative, and sustainable American fertilizer production, aiming to cater to American farmers' needs and leverage advancements in biotechnology and biomanufacturing. Therefore, the increasing initiatives by the government pertaining to the digitalization of the agriculture industry are driving the growth of the farm management software market.
Major companies operating in the farm management software market are developing next generation products, such as Bushel Farm, to provide farmers with advanced tools for optimizing and managing their farm operations. Bushel Farm refers to the next generation of farm management software designed to provide solutions to crop growers, grain buyers, and agriculture retailers. For instance, in March 2023, Bushel Inc., a US-based technology company, launched Bushel Farm, the next generation in farm management software for farmers and their agribusiness partners. The new offering reduces the burden of manual data entry for farmers and provides valuable insights into their operations. It offers a robust feature-set in both mobile and desktop experiences while maintaining its easy-to-use design.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
John Deere, Trimble Inc., Mothive Limited, Topcon, DeLaval, Reed Business Information Ltd., Raven Industries Inc., The Climate Corporation, Iteris Inc., Proagrica, Granular Inc., AG Leader Technology, BouMatic, Farmers Edge Inc., DICKEY-john., Agrivi, Ceres Imaging Inc , CropX Inc., Conservis LLC, Cropio Group, AGJunction Inc., Auroras s.r.l., CropIn Technology Solutions Private Limited, Grownetics Inc., Harvest Profit Inc.
Farm Management Software Market 2024 Key Insights:
• The farm management software market is expected to grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Government Initiatives And Digitalization A Driving Force For Farm Management Software Market
• Bushel Farm The Next-Generation Farm Management Software For Precision Agriculture
• North America was the largest region in the farm management software market in 2023
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