Farm Management Software and Data Analytics Market Future Prospects And Competitive Analysis 2020-2026

The growth in the global farm management software and data analytics market is expected to be driven by increasing demand for agricultural mechanization and automation along with increasing average farm size in certain countries such as Australia and Canada.

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Farm management software and data analytic solutions not only offer increased transparency in the agricultural field but also decrease the chances of pest attack and crop failure. Increased agricultural production will help in catering to the growing population and uplifting the global agricultural industry.

A major factor driving the farm management software and data analytics market is the increase in government initiatives and support toward agricultural digitization. Government initiatives increase the awareness regarding the farm management software and the benefits these solutions entail when applied correctly in the agricultural industry.

One of the major challenges in the growth and development of the global farm management software and data analytics market is the depleting farm income leading to less investment in farm management software and data analytic solutions. Low agricultural revenue generation has become a major hindrance in the adoption of farm management software solutions by the farmers.

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The global farm management software and data analytics market is expected to boost the global precision agriculture market and the global food demand. This will also lead to the upliftment of farmers with increased revenue generation of farm activities. With increased automation in the agriculture industry, the precision agriculture market is expected to grow in the forecast period.

The global farm management software and data analytics market is expected to grow in the coming years with increased government initiatives for the upliftment of the market. Some of the leading companies operating in the global farm management software and data analytics market are 365Farmnet, ABACO Group UK, Ag Leader Technology, AGCO Corporation, AgJunction, AGRIVI, Agroptima, Agworld Pty Ltd, BASF SE, Bushel Inc., CLAAS KGaA mbH, CNH Industrial N.V., CropIn Technology Solutions Private Limited, CropX Inc., Deere & Company, EFC Systems, Farmers Edge Inc., Granular, Inc., IBM Corporation, Raven Industries Inc., SourceTrace, The Climate Corporation, Topcon, Trimble Inc., and Hexagon Agriculture.

The global farm management software and data analytics market has seen major development by key players operating in the market, such as merger and acquisition, business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been mergers and acquisitions to strengthen their position in the global farm management software and data analytics market. For instance, in September 2021, GrubMarket announced it had completed the acquisition of Farmigo, a provider of community-supported agriculture software to farms to manage its business online and reach more consumers.

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