Agriculture Software Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 11.70 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Agriculture Software Market Analysis
The Agriculture Software Market is expected to register a CAGR of 11.70% during the forecast period.
The key driving factors contributing to the adoption of agriculture software are the increasing awareness of technology among the young generation and environmental awareness to maximize the farm operational capacity, among others.
- The growth in the agriculture sector, alongside the integration of advanced technologies such as AI, IoT, and cloud, among others, is analyzed to boost the market during the forecast period. Agriculture software covers various software types that provide agribusinesses business management and tracking solutions. Agriculture software can help farmers, ranchers, and growers with different operations, such as irrigation, inventory, crop planning, connected agriculture, crop management, and farm management.
- The growing population is creating significant demand for food, thereby impacting the adoption of advanced technologies such as agriculture software solutions to maximize productivity. As the global population increases significantly, food production must double between 2014 and 2050 (source: Food and Agriculture Organization (FAO)). The United Nations estimates that the world's population will reach 9.6 billion by 2050. As a result, farmers will face intense pressure to increase crop production, either by making land arable for growing crops or by implementing new techniques like smart greenhouses and vertical farming.
- Rapid urbanization, climate change, a growing worldwide population, and increased food demand contribute to steady market revenue growth. The growing understanding of farmers about the benefits of automatic monitoring and control of the greenhouse environment has resulted in a recent increase in the adoption of smarter greenhouse automation systems and approaches. In both wealthy and developing countries, the scarcity of arable land is driving the deployment of smart greenhouses to boost agricultural yields and satisfy rising food demand.
- With the growing demand for sustainable agriculture, precision farming is analyzed to grow at a significant rate owing to the real-time data availability of the field conditions that lead to efficient monitoring, controlling, and decision-making, thereby significantly driving the market.
- The major macroeconomic trends in the agriculture market are the growing population, climate change, Russia-Ukraine conflict, and the trend of digitalization. Solutions such as precision farming and smart greenhouse technologies could aid these trends and significantly boost the market growth rate during the forecast period.
Agriculture Software Market Trends
Platform as a Service (PaaS) to Witness the Market Growth
- Agriculture software in the smart greenhouse helps farmers and growers monitor and control the smart greenhouse's environmental conditions and crop growth. A smart greenhouse is a greenhouse that uses various sensors, actuators, and devices to create an optimal microclimate for plants and to automate the growing process. Agriculture software in smart greenhouses can help with multiple aspects of smart greenhouse management, such as data collection and analysis, data visualization and management, predictive modeling and planning, and monitoring and control, thereby significantly driving the market growth rate.
- Agriculture software in smart greenhouses can monitor the environmental conditions and crop growth in real-time using various sensors and devices. The software can also control the environmental conditions and crop growth by sending commands to multiple actuators and devices, such as fans, heaters, coolers, vents, shades, lights, sprinklers, pumps, valves, or robots. The software can also provide alerts and recommendations for any issues or anomalies detected in the smart greenhouse, thereby contributing to the demand across several regions.
- A system for monitoring the crop field with sensors (light, humidity, temperature, soil moisture) is constructed in IOT-based smart greenhouse farming, making the irrigation system more automated. The farmers can keep an eye on the state of the fields from any location. Compared to the standard method, smart greenhouse farming that is IOT-based is highly productive.
- For instance, in December 2022, Astrocast, a nanosatellite IoT network administrator, and Avirtech, a supplier of farmer control frameworks that screen site conditions to reduce functional expenses and increase yields, reported a smart farming partnership. Astrocast provides Avirtech with Satellite IoT (SatIoT) network answers for its BIOTA keen homestead control framework. Avirtech's Avirlink will incorporate its technology as part of this.
- Further, the growing investments in smart agriculture solutions by several governments, such as India and the United States, are analyzed to bolster the market growth rate during the forecast period.
North America to Hold Major Share in the Market
- North America is analyzed to hold the highest share of 52.46% in the previous year. The United States contributes significantly to the smart agriculture practices analyzed to bolster the market growth rate during the forecast period significantly. For instance, in May 2023, The U.S. Department of Agriculture (USDA) spent USD 8 million in four collaborations to promote and increase soil carbon measurement and monitoring on working agricultural lands and evaluate how climate-smart practices affect carbon sequestration. On regional soil organic carbon stock monitoring programs, the USDA's Natural Resources Conservation Service (NRCS) will collaborate with Iowa State University, Michigan State University, American Climate Partners, and the University of Texas at El Paso.
- Additionally, in April 2023, U.S. agricultural exports reached USD 196.4 billion in 2022, according to the data published by the U.S. Department of Agriculture, which shows the development of agricultural production in the country and creates an opportunity for agricultural software market vendors in the United States.
- The application of agriculture software in precision farming is fueling the country's market growth. It is becoming increasingly popular among farmers, who are employing information gathered by GPS, satellite images, internet-connected devices, and other technology to do farming more effectively.
- The agriculture software market in Canada is primarily driven by increasing government efforts and investments to boost precision farming coupled with the growing trend of transitioning towards sustainable practices in the country. Further, precision farming is witnessing significant adoption as farmers in the country are able to monitor and manage their operations with high precision with the help of sophisticated analytics.
- Cloud-based agriculture software is expected to witness growth in the coming years. This is primarily due to enhanced reliability through cloud-based technology solutions offered in a cloud deployment. In addition, ease of use, flexibility, and scalability are a few of the factors that may help to increase the cloud-based deployment of agriculture software in large agribusiness companies as well as small and medium farmers.
- Overall, the Canadian market for agriculture software is expected to witness substantial growth owing to increasing government initiatives towards sustainable practices and the use of technologies in the agriculture sector coupled with various ongoing and past investments by the government to accelerate precision farming in the country. In addition, easy-to-use and sophisticated agricultural software launches will further proliferate the growth of agriculture software in Canada over the forecast period.
Agriculture Software Industry Overview
The Agriculture Software Market is fragmented, and various companies compete on a regional scale to gain market share. Vendors in the market are expected to compete intensely to gain large-scale projects, but smaller vendors are expected to hold prominence over the market in local space. Major vendors that offer integrated products are expected to command a higher share of the adoption for their solutions due to the spread of their presence over the value chain and the ability to mitigate the risk.
- January 2023 - The Deere & Company announced the launch of ExactShot, a new sensor- and robotics-based system for applying fertilizer. Farmers can minimize the amount of starting fertilizer used during planting by more than 60%. Instead of administering a continuous flow of fertilizer to the whole row of seeds, the system employs sensors and robots to accurately distribute starting fertilizer onto the seeds as they are planted in the soil.
- December 2022 - Raven Industries Inc. launched its driverless tillage and driver assist harvest solutions at CNH Industrial NV's Tech Day. The system is designed to support multiple stages of the cash-crop production cycle and make autonomy more accessible to farmers across seasons.
Agriculture Software Market Leaders
-
Trimble Inc.
-
AGRIVI Ltd
-
Oracle Corporation
-
Conservis
-
Farmbrite
*Disclaimer: Major Players sorted in no particular order
Agriculture Software Market News
- April 2023 - CropX, a provider of decision and planning tools, secured a Series C financing round with USD 30 million to advance its farm management system, integrating data from the earth and the sky to provide soil and crop intelligence.
- February 2023 - The Topcon Corporation launched a solution for specialized farmers called Transplanting Control. The growers of permanent and perennial trees, fruits, and vegetable crops can profit from this system, which provides GNSS-based guiding, autosteering, and control, which has been designed to reduce labor costs, boost productivity, and increase efficiency.
Agriculture Software Market Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of Impact of Macro Economic Trends
4.4 Case Studies
4.5 Ecosystem Analysis
5. MARKET SEGMENTATION
5.1 By Deployment Type
5.1.1 Cloud
5.1.1.1 Software-as-a-service (SAAS)
5.1.1.2 Platform-as-a-service (PAAS)
5.1.2 On-premise
5.2 By Application
5.2.1 Precision Farming
5.2.2 Livestock Tracking and Monitoring
5.2.3 Smart Greenhouse
5.2.4 Precision Forestry
5.2.5 Other Applications
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Australia and New Zealand
5.3.3.3 Thailand
5.3.3.4 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Mexico
5.3.4.3 Argentina
5.3.4.4 Rest of Latin America
5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Trimble Inc.
6.1.2 AGRIVI Ltd
6.1.3 Oracle Corporation
6.1.4 Conservis
6.1.5 Farmbrite
6.1.6 Deere & Company
6.1.7 Ag Leader Technology Incorporated
6.1.8 AgJunction Inc.
6.1.9 AGCO Corporation
6.1.10 Raven Industries Inc.
6.1.11 Topcon Corporation
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OPPORTUNITIES
Agriculture Software Industry Segmentation
The agriculture software market study tracks the revenue accrued through the sale of subscriptions and licensing of agriculture software, specifically in agricultural applications such as precision farming and smart greenhouse across the globe. The analysis is based on the market insights captured through secondary research and the primaries. The market also covers the major factors impacting the growth of the market in terms of drivers and restraints.
The agriculture software market is segmented by deployment type (cloud (software-as-a-service (SaaS), platform-as-a-service (PaaS)) and on-premise), application (precision farming, livestock tracking and monitoring, smart greenhouse, precision forestry, and other applications), geography (North America (United States, Canada), Europe (United Kingdom, France, Germany, Rest of Europe), Asia-Pacific (China, Australia and New Zealand, Thailand, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD ) for all the segments.
| By Deployment Type | ||||
| ||||
| On-premise |
| By Application | |
| Precision Farming | |
| Livestock Tracking and Monitoring | |
| Smart Greenhouse | |
| Precision Forestry | |
| Other Applications |
| By Geography | ||||||
| ||||||
| ||||||
| ||||||
| ||||||
| Middle East & Africa |
Agriculture Software Market Market Research Faqs
What is the current Agriculture Software Market size?
The Agriculture Software Market is projected to register a CAGR of 11.70% during the forecast period (2024-2029)
Who are the key players in Agriculture Software Market?
Trimble Inc., AGRIVI Ltd, Oracle Corporation, Conservis and Farmbrite are the major companies operating in the Agriculture Software Market.
Which is the fastest growing region in Agriculture Software Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Agriculture Software Market?
In 2024, the Asia Pacific accounts for the largest market share in Agriculture Software Market.
What years does this Agriculture Software Market cover?
The report covers the Agriculture Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Agriculture Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Agriculture Software Market Industry Report
Statistics for the 2024 Agriculture Software market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Agriculture Software analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
