(PharmaNewsWire.Com, July 31, 2019 ) Precision Farming Software Market by Delivery Model (Local/Web, Cloud, SaaS, PaaS), Application (Yield Mapping, Crop Scouting, Irrigation Management, Inventory Management, Financial Management), Services Provider, by End-User (Agriculture, Horticulture, Floriculture, Animal Husbandry), and Geography - Global Forecast to 2025
The precision agriculture tools are mainly designed to maximize yield and revenue related to crops. The precision farming software assists with the information such as ideal planting schedule, maintenance instructions, and environmental factors that could impact a given crop. Precision agriculture software often offers predictive analytics features such as expected waste, yield size, and profitability in relation to market values, which helps farmers and growers to make optimal decision throughout each growth cycle.
The various research organizations and associations play a vital role in the development of precision farming software market. Growing population with the increasing demand for food and high penetration of cloud computing technology in the farm data management are the factors that will boost the growth of this market. Further, the other factors, such as integration of mobile technology with farming techniques, increasing use of agriculture software for maintaining farm efficiency, and government support to adopt modern agriculture techniques are expected to fuel the growth of precision farming software market. However, the high initial capital investment hinders the growth of this market to some extent. The high-speed internet connectivity and integration of smartphone with agriculture hardware and software applications are the factors that will offer the growth opportunities in the precision farming software market.
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Key findings in the global precision farming software market study:
The report offers the detailed precision farming based on delivery model, application, services provider, and geography.
The cloud-based delivery model is expected to grow at the highest CAGR between 2019 and 2025
Based on delivery model, the precision farming software market is divided into local/web based and cloud-based delivery model. Cloud based delivery model is an internet-based computing model that provides shared processing of resources and data to user on demand. The adoption rate of cloud-based delivery model is high as compared to the local/web-based model mainly due to the various advantages, such as data sharing, optimized performance, ability to access system on a variety of devices from any location that has internet service and ease of access.
The yield monitoring application to witness the largest demand through 2025
Yield monitoring application commanded the largest share of the global precision farming software market in 2018. Yield monitoring is the most widely used application in precision farming software, as this application plays a key role in understanding the field variability and helps farmers in maximizing yields. It provides information about the weather conditions, soil properties, and fertilizers, which may affect the overall production. Owing to these, the adoption of yield monitoring application is consistently increasing worldwide.
Asia-Pacific: Fastest growing regional market
North America commanded the largest share of the global precision farming software market in 2018. The farmers in the region are well educated and increasingly adopting advanced farming systems, farm management software, mobile applications, cloud services, imagery services, and data analytics services. However, Asia-Pacific will be the fastest growing regional market due to large area under agriculture cultivation and growing population.
Key Players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 5 years (2014-2018). The key players profiled in the global precision farming software market research report are Trimble, Inc., i.Agri Limited., Observant, Deere & Co, Granular, Inc., Agrivi Ltd., Monsanto Company, Raven Industries, Inc., Dickey-John Corporation, Ag Leader Technology, AgJunction, CNH Industrial NV, and SST Development Group.
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