The global farm management software market is expected to be benefited by increasing demand for smart or precision farming over the forecast period. Farm management software is used for crop management and is implemented for the improvement of yield, growth, and development of agricultural crops. Farm management deals with the environmental requirements, multi-functionality of agricultural enterprise, consumer requirements, traceability, and agricultural policies.
Planning, implementation, assessment, and optimization of tasks performed on farms are key operations executed by farm management software. For the improvement of the aforementioned purposes, management systems such as software architectures and database network structures have been introduced. The farm management software provides generic functionalities for the service providers. Numerous farm sensors and devices are implemented with the integration of different communication standards. Existing farming technologies are expected to support varied communication standards including ISOBUS, Wi-Fi, and ZigBee. Integration of the farm management software with the remote sensing technologies for continuous monitoring in order to minimize the impact of disasters and natural calamities has garnered importance. The mechanisms needed among the management systems further allow farmers’ related information to be easily accessible to the traders, end-users, and by specialized stakeholders such as, agriculturists and spraying contractors. The two farm management subsystems (including cloud & local) are anticipated to be implemented over the forecast period with the use of generic software modules for farm management tasks.
Growing adoption of cloud computing has paved the way for smart farming through the provision of software, scalable computation, storage services, and data access. Increased demand for automatic computing (AUTO-COM) has enhanced the farm management software provider’s work, thereby reducing the operating expenses required in the operation of the software modules. Application developers offer access to generic and standardized interfaces, thereby providing varied services and solutions. Key application segments served by the market include revenue and financial management. Integration of financial management software with ongoing market rates helps the farm owners in tracking the actual prices of the crops and thereby ensuring transactions at the market prices.
Availability of the internet connectivity and increased demand for precise farming systems are some of the factors expected to drive the farm management software market over the forecast period. Lack of technical expertise is expected to pose a challenge to market growth.
In terms of revenue, Asia Pacific is expected to hold a considerable share over the forecast period, which can be attributed to growing government support for farming. Furthermore, North America is anticipated to witness a major share in the farm management software market owing to the increase in the land availability and the emergence of the advanced technologies.
Prominent farm management software packages available in the farm management software market include Agrivi, iAgri Online, Accufarm Manager, GrainTrac, iRely Grain, ACC-TRAC, and Teapac Millenium Edition.
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