Farm Management Software and Data Analytics Market Size, Growth, Opportunities5
Farmers are increasingly focusing on driving down operational costs and increasing farm efficiency in order to attain profitability. The growth in data analytics for intelligent decision-making with the help of the different types of solutions is transforming the agriculture industry. Conventionally, the farm management software and data analytics in the agriculture industry were offered as software solutions. However, for the past five years, a new solution model and a mode of solution offering have emerged. These are based on a cloud-based customized model in which the user (company/individual) can design its software solution as per the need. This solution model is popularly termed as Platform-as-a-Service (PaaS). Presently, farm management software and data analytics companies in agriculture also offer these services as solution offerings.
The utilization of farm management software and data analytics is revolutionizing farm operations with increased efficiency and control of farmers over the yield. The different types of analytical tools are employed for different applications such as yield monitoring and forecasting, record keeping, farm mapping, aquatic species tracking and navigation, animal health monitoring and comfort, among others. Understanding and analyzing the patent landscape is necessary in order to recognize the developments that are occurring in the industry.
The companies operating in the farm management software and data analytics market have been adopting strategies such as partnerships, collaborations and joint ventures, and product launches and developments. The farm management software and data analytics market comprise four types of players, namely precision crop farming companies, livestock monitoring and management companies, indoor farming companies, and aquaculture software providers companies. Some of the most prominent precision crop farming software providers companies in farm management software and data analytics include AgJunction, 365FarmNet Gmbh, AgLeader Technology, Agrinavia, Agrivi, AGROPTIMA, aWhere, BASF SE, Farmers Edge, FarmLogs, Granular Inc., Hexagon Agriculture, and Source trace System, among others. Similarly, some of the prominent livestock monitoring and management software companies include Afimilk Ltd., AgriWebb, Boumatic LLC, Connectera, Dairy Master, Delaval, Fullwood Packo, GEA group, Lely S.a.r.l, and Valley Agricultural Software, among others. The leading indoor farming software providers include MotorLeaf Inc., Aetemis, Infarm – Indoor Urban Farming Gmbh, Lettus Grow Ltd., and Tenacious Solution Ltd., among others. Similarly, leading aquaculture software provides include, Aquabyte, Xpertsea, Aquanetix, Chetu, and Eruvaka Technologies, among others.
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The impact analysis of the factors that significantly affect the market, namely drivers, restraints, and opportunities, have been evaluated as per the market scenario during the forecast period. Major developments and strategies that have been undertaken by some of the key players in this market have been considered for the evaluation of the impact analysis. Additionally, product launches from companies and regulations from regulatory bodies have also been considered while evaluating the dynamics of the farm management software and data analytics market.