Farm Management Software Market Insight
Farm management software is optimizes, centralizes and manage the developed activities and processes of farms. Through farm management software, farmers have the ability to be efficient in their responsibilities and daily farm related tasks. Farm management software have the monitoring and recording of various farms activities such as monitors and analyzes agricultural activities and keeps track of business costs and farm budgets. In addition, It supports agricultural financial management, including accounting programs, agricultural planning, procurement efficiency, budgeting and marketing tools. Furthermore, It helps farmer to record keeping and monitoring farm production capabilities, which propel the growth of the market.
Impact of COVID-19 on Farm Management Software Market:
- The global impact of the COVID-19 is expected to significantly affect the firm management software market in 2020.
- The ongoing COVID-19 situation has put the agriculture sector. There is a low demand in food sector, and sowing work is halted, owing to the labor shortage and lockdown around the globe, which directly affects the market growth
- Once the situation gets normal, the demand for this software is expected to increase as farmer tend to adopt such software to cut the overall operational cost.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Government support to adopt modern agricultural methods, and reinforcement of intelligent assets rights over farming modernizations across the globe acts as the major factors driving for the growth of the farm management software market. Moreover, growing population demand for food worldwide, and increasing implementation of cloud computing in real time among agriculture industry are also key factors that propels the market growth during the forecast period. However, lack of technical knowledge for farmers restricts the growth of market. Contrarily, on-going R&D for obtainability of high-speed internet connectivity among developing regions is expected to create opportunities for farm management market.
Reinforcement of intellectual property rights over agricultural innovations
The reinforcement of Intellectual Property Rights (IPR) finished farming revolutions has a great impact in the global agriculture market as it aids in poverty exclusion and economic development. This reinforcement is reflected in the economic growth in various countries that are supporting and allowing such rights. The IPR system provides the protection for development in any invention as well as expands the scope of protection. Emerging technologies have a very high adoption rate in the agriculture sector, and thus IPR has become a major concern for the main players in this sector. Changes that have taken place in IPR within the agricultural sector are relevant to the pattern in which the international agricultural research is being organized through Consultative Group on International Agricultural Research (CGIAR) and National Agricultural Research Organizations (NARO).
Lack of technical knowledge for farmers
Use of farm management software solutions in agriculture management requires technical knowledge to a certain extent. The farmer needs to have a substantial considerate of the method to usage this software in an effective way. Even though being carefully proficient of connecting these systems, growers are not capable to use these systems due to the lack of technical awareness. The incapability of certain farmers to understand the methods to practice farm management software, agricultural data control, and its application in conclusion making acts as a restraining factor for the growth of the farm management software market. Currently, the influence of this feature is great; as a consequence, the popular of the agriculturalists are unwilling to accept this farm management software. The upcoming influence of this restrictive factor is projected to decrease considering main market companies are upcoming accelerative to deliver discussion, training, and guidance sessions to the farmers and enhance their confidence to use farm management software.
Key benefits of the report:
- This study presents the analytical depiction of the global farm management software industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global farm management software market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global farm management software market analysis based on competitive intensity and how the competition will take shape in coming years.
Farm Management Software Market Report Highlights
| Aspects | Details |
 By Offering |
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 By Application |
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 By Farm Size |
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 By Farm Production Planning |
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 By Region |
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 Key Market Players | Trimble, AgJunction IBM Corporation, Raven Industries, Agrivi, Granular Inc., A Corteva Agriscience Company, Topcon Positioning Systems, SST Development Group, Microsoft Corporation, The Climate Corporation |
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