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Worldwide Farm Management Software and Data Analytics Industry to 2025 - Rise in Technological Advancements of AI - ResearchAndMarkets.com


The "Global Farm Management Software and Data Analytics Market: Focus on Solution, Application, Produce, Patents, Funding, Impact of COVID-19 - Analysis and Forecast" report has been added to ResearchAndMarkets.com's offering.

The global farm management software and data analytics market is projected to grow from $1.06 billion in 2020 to $4.31 billion by 2025, at a CAGR 32.32% from 2020 to 2025.

The reported market growth is attributed to the increasing demand for efficient farm operations and cost-effective usage of resources. The rise in adoption of smart farming equipment such as sensors and controllers have increased the number of data points in farms, allowing greater usage of data analysis for monitoring and management. The rising concerns over global food security and sustainability have led to extensive investments by governments across the world.

The farm management software and analytics have garnered the attention of various stakeholders amongst different farming types such as precision crop farming, livestock farming, indoor farming, and aquaculture. Catering to precision crop farming, the wide range of use cases found under this farming type for agricultural software solutions is driving the growth. Major use cases for precision crop farming under the application segment include yield monitoring and farm mapping, crop scouting, weather tracking, and forecasting, irrigation management, and farm economics.

The introduction of smart lights integrated with software is expected to augment the growth of farm management software and data analytics in the indoor farming sector. Moreover, depleting agricultural land and increasing demand for fresh agricultural produce all around the year are expected to propagate the growth of indoor farming

Impact of COVID-19 on Global Farm Management Software & Data Analytics Market

In 2020, the farm management software and data analytics market is expected to experience a downfall, due to the COVID-19 pandemic. During the COVID-19 outbreak, the supply chain of the agriculture industry has been disrupted. Companies are focusing on new strategies to develop more convenient tools to cater to the demand for food. Hence, the farm management software and data analytics industry are playing a critical role to cater to the unprecedented situation caused by COVID-19 by providing predictive analytics and insightful outputs to assist efficient crop growth and animal health.

Market Dynamics

Drivers

Restraints

Opportunities

Key Questions Answered in this Report:

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/n3rzha


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News published on 29 october 2020 at 10:25 and distributed by: