Farm Management Software Market Growth Opportunities and Outlook, 2030

The global farm management software market size was estimated at USD 3.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.2% from 2023 to 2030.?

The growth of the market can be attributed to the increasing implementation of cloud computing for real-time farm data management. Farm Management Software (FMS) involves the use of Information Communication Technology (ICT), particularly IoT and big data analytics, to address resource constraints such as shortage of energy, water, and labor and social issues such as environment, animal welfare and use of fertilizers, which negatively influence the agricultural production.

The adoption of remote sensing technology in the agriculture industry has increased due to the emergence of drones and GIS. The images captured through a device featuring remote sensing technology can be used for the detection of cop water stress, monitoring weeds & crop diseases, classification of crop species, and mapping of soil properties. Some open-source remote sensing software includes Quantum GIS Semi-Automatic Classification Plugin (SCP), Optical and Radar Federated Earth Observation (ORFEO) toolbox, Opticks, and PolSARPro.

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Farm Management Software Market Report Highlights

? The emergence of big data, mobile computing, and advanced sensing technology, which supports software, are shaping the market for farm management software

? The precision farming agriculture type dominated the overall market with a share of 43.5% in 2022 and is expected to continue its dominance over the forecast period

? The cloud-based deployment model is expected to witness the highest CAGR of 17.7% over the projected period

? The data collected through sensors and drones are visualized through the platforms developed by the service providers

? The software segment dominated the market in 2022, driven by the increasing recognition of digital solutions' advantages in agriculture, offering streamlined operations, efficient resource management, improved decision-making through data analytics, enhanced crop planning, better inventory tracking, and increased productivity and profitability for farmers

? Managed services are similar to third-party or outsourced services. Most growers adopt managed service providers for drone services as data collection requires special assistance

? North America dominated the market and held a share of 33.7% in 2022, owing to the increased adoption of precision agriculture, sustainability practices, data-driven decision-making, and technological advancements, empowering farmers to enhance productivity and competitiveness in the agricultural industry

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