Precision Farming Software Market Projected to reach 1,188.7 Million USD by 2022


Posted August 25, 2020 by nareshkumar

P recision Farming Software Market by Delivery Model (Local/web-based, Cloud-Based, SaaS, PaaS), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting), Service Provider, and Geography - Global Forecast to 2022

 
The report "Precision Farming Software Market by Delivery Model (Local/web-based, Cloud-Based, SaaS, PaaS), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting), Service Provider, and Geography - Global Forecast to 2022", The precision farming software market is expected to grow from USD 463.8 Million in 2015 and is expected to reach USD 1,188.7 Million by 2022, at a CAGR of 14.03% between 2016 and 2022. The increasing need for data management through cloud computing and the government’s support for modern agricultural techniques are some of the significant drivers for the growth of the market.

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“Local/web-based delivery model is expected to lead the precision farming software market”

The local/web-based software delivery model is expected to hold the largest share of the market between 2016 and 2022. These software are being created in programming languages which are browser supported. Web-based software is popular because they are easy to maintain and update. This software helps in storing data on secure, updated enterprise class servers. The web-based precision farming software held the larger share compared to cloud-based software in 2016.

“Precision farming software market for weather tracking and forecasting expected to grow at the highest rate between 2016 and 2022”

Weather tracking and forecasting is one of the important parameters in precision farming software, as this application facilitates up-to-date information on prevailing climatic conditions, such as temperature, rain, wind speed and direction, solar radiation, and so on. The software part of weather tracking includes desktop weather software for different weather applications and add-on software modules. Weather tracking helps in taking decisions before severe and potentially dangerous conditions occur, thereby protecting a farmer’s family or business.

“Americas held the largest share of the precision farming software market in 2015”

The Americas held the largest share of the market in 2015. The factor for this growth is increased industrialization of farming equipment with the need for improved efficiency and productivity to meet the global demand for food. Efficient farming requirements, high production accuracy, increased use of farm management software, mobile applications, data analytics services, and cloud services are some of the factors for the growth of the market in the Americas region.

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Some of the major players in the precision farming market are Deere & Company (U.S.), Trimble, Inc. (U.S.), Raven Industries Inc. (U.S.), AgJunction, Inc. (U.S.), and AGCO Corporation (U.S.) among others. Some of the major start-ups in the market which were established after 2010 are Farmeron, Inc. (U.S.), Airinov (France), Microdrones GmbH (Germany), OnFarm Systems (U.S.), and PrecisionHawk (U.S.) among others.
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Last Updated August 25, 2020