Farm management software global market 2024 to reach $4.92 billion by 2028 at rate of 12.3%

The Business Research Company’s Farm Management Software Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The farm management software market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The farm management software market is projected to continue its strong growth, reaching $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to advancements in artificial intelligence and machine learning, expansion of cloud-based farm management solutions, growing need for traceability and transparency in agriculture, adoption of mobile-based farm management applications, and integration of blockchain technology for supply chain management.

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Growth driver of the farm management software market
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.

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Major Players and Market Trends
Key players in the farm management software market include 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.

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.

Segments:
1) By Component: Solution, Services
2) By Deployment Type: Cloud-Based, Web-Based
3) By Farm Size: Small, Medium, Large
4) By Application: Precision Farming, Livestock Monitoring, Smart Greenhouse, Aquaculture, Other Applications

Geographical Insights: North America Leading the Market
North America was the largest region in the farm management software market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of farm management software.

Farm Management Software Market Definition
Farm management software is a category of digital tools and applications designed to help farmers and agricultural businesses manage their operations more efficiently. These software solutions are designed to streamline tasks, optimize resources, and improve decision-making across different areas of farm management.

Farm Management Software Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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