DUBLIN, January 11, 2022 / PRNewswire / – The report “Farm Management and Data Analysis Software Market – A Global and Regional Analysis: Focus on Product, Application, and Country Analysis – Analysis and Forecast, 2020-2026” has been added to ResearchAndMarkets.com offer.
The global agricultural management and data analytics software market is expected to reach $ 5.26 billion by 2026, with a CAGR of 18.55% during the forecast period 2021-2026.
The growth rate of the market is due to the increase in the average size of farms in some regions of the world. Farm management software is primarily needed to run a large-scale farm to reduce human reliability and the risk of crop failure. Another major driver for the growth of the farm management software and data analysis software market is the increase in government initiatives aimed at improving the market.
Farm Management Software and Data Analytics Market
Farm management software and data analysis solutions aim to make farming operations easier for farmers. These software increase transparency in the field and reduce the risk of poor harvests. With farm management software, a farmer has complete information about all activities in the field, which can be managed through software accessible via a mobile phone or tablet. Some of the major benefits of farm management software and data analysis solutions in agriculture include yield monitoring and field mapping, crop scouting, weather monitoring and forecasting, crop management irrigation and agricultural economics.
Since 2010, the adoption of farm management software and data analysis solutions has increased, especially by medium and large scale farmers. The increased awareness of the benefits of farm management software has increased the rate of adoption of these solutions. Another driver for adoption of farm management software and data analysis solutions by farmers is the high technological advancements in some parts of the world.
Impact of COVID-19 on the Global Farm Management and Data Analytics Software Market
The supply chain of the majority of industries across the globe has been affected due to the COVID-19 pandemic, including the farm management software industry and data analytics. During the COVID-19 outbreak, the agricultural industry’s supply chain was disrupted. Companies are focusing on new strategies to develop more practical tools to meet the demand for food.
Therefore, the farm management software and data analytics industry is playing a vital role in addressing the unprecedented situation caused by COVID-19 by providing predictive analytics and insightful results to aid efficient growth. crops and animal health.
Global Farm Management and Data Analytics Software Market by Application
The global agricultural management and data analysis software market in application segment is expected to be dominated by precision agriculture. The high market share and growth potential associated with precision farming as an application for farm management software and data analysis is attributed to the wide range of use cases found in this type of business. agriculture for agricultural software solutions.
Global Farm Management and Data Analytics Software Market by Product
The global farm management software and data analysis market in product segment is expected to be dominated by farm management software solutions. The benefits of affordable pricing models, integration, scalability and accessibility associated with software solutions are the primary reasons for the reported growth of this product offering.
Global Farm Management and Data Analytics Software Market by Region
North America generated the highest turnover of $ 498.95 million in 2020, which is attributed to technological advancements in the North America Region. In the region, government support as well as technological advancements have contributed to the growth of the market.
Furthermore, the major players in the Farm Management Software and Data Analytics Market are operating in the North America region, which offers a wide range of options to producers who purchase farm management solutions. The region is expected to experience strong CAGR growth of 17.47% during the forecast period 2021-2026.
Key Market Players and Competition Summary
The major players operating in the global Farm Management and Data Analytics Software Market analyzed and presented in the study involve Original Equipment Manufacturers (OEMs) providing the software required for deployment in the industry. agricultural.
Additionally, a detailed competitive benchmarking analysis of players operating in the Global Farm Management Software and Data Analytics Market has been performed which will help the reader to understand how the players stack up against each other. to others, presenting a clear market landscape.
Market growth drivers
Increase in the average size of farms
Growing demand for agricultural mechanization and automation
Increased government support and initiatives
For more information on this report, visit https://www.researchandmarkets.com/r/q9xg3l
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SOURCE Research and Markets