Farm Management Software and Data Analytics Market worth $12.79 Bn by 2031 - Exclusive Report by InsightAce Analytic
Farm Management Software and Data Analytics Market Report Scope
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Farm management software & data analytics is necessary nowadays to handle large-scale farm data produced daily, including details about plant health, soil, water usage, weather conditions, and temperature. The advanced technologies and applications for farm management can reduce human dependability and crop failure. They also help manage various field activities such as crop choices, crop scouting, real-time data analysis, yield monitoring, weather tracking, field mapping, irrigation management, and farm economics.
Fast farmer adoption of farm management software, growing innovations in AI-based agricultural technologies, high demand for better crop yields, government initiatives for development in data management solutions, technological advancements in agriculture management solutions and increasing farmers' interest in farm data management solutions' benefits. The COVID-19 pandemic has hampered the supply chain of agricultural industries worldwide. Hence, companies are developing advanced and more convenient farm management applications to manage the various field activities, which is likely to increase the demand for farm management software in the coming years.
Some Major Key Players In The Farm Management Software and Data Analytics Market:
Market Dynamics:
Drivers-
Multiple factors such as the fast adoption of farm management software by farmers, growing innovations in AI-based agricultural technologies, high requirement for better crop yields, rising government initiatives to develop farm data management solutions, technological advancements in agriculture management solutions, growing usage of robots, drones, and sensors in agriculture, increasing farmers' awareness regarding benefits of farm data management solutions, and the surging demand for agricultural process automation are expected to drive the growth of the farm management software and data analytics market during the forecast period.
Challenges:
Farm data security and privacy concerns and farmers' economic challenges reducing farm management software investment may hinder market argumentation over the anticipated timeframe. Also, Crop management software solutions are unpopular among farmers in many regions due to their high initial cost, low ROI, cheap labor, and limited adoption of modern farming practices like precision farming, smart greenhouses, and livestock monitoring. Yield monitoring, advice, and variable rate technology are unavailable to most farmers in these countries.
Regional Trends:
Asia Pacific is expected to hold the highest share of the global farm management software and data analytics market over the coming years due to growing government support for agricultural automation and the increasing adoption of advanced agricultural technologies such as AI, robots, drones, and cloud-based platforms in farms.
Furthermore, the European region is anticipated to contribute significantly to the development of this market due to the growing demand for high-yield and fast implementation of AI-based technologies in agriculture.
Recent Collaborations And Agreements In The Market:
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Market Segments
Global Farm Management Software and Data Analytics Market, by Solutions, 2023-2031 (Value US$ Mn)
Global Farm Management Software and Data Analytics Market, by Application, 2023-2031 (Value US$ Mn)
Global Farm Management Software and Data Analytics Market, by Farm Produce, 2023-2031 (Value US$ Mn)
Global Farm Management Software and Data Analytics Market, by Region, 2023-2031 (Value US$ Mn)
North America Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
Europe Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
Asia Pacific Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
Latin America Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
Middle East & Africa Farm Management Software and Data Analytics Market, by Country, 2023-2031 (Value US$ Mn)
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