Report Description
Market Report Coverage - Global GIS Software in Agriculture Market
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Base Year
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2018
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Market Size by 2018
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$1.44 Billion
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Forecast Period
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2019-2024
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Value Estimation by 2024
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$2.57 Billion
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CAGR During Forecast Period
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10.41%
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Number of Tables
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Market Segmentation
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• Solution Type – On-Cloud and On-Premise
• Application – Crop Monitoring, Soil Analysis, Irrigation Monitoring, and others
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Regional Segmentation
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• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Italy, Spain, and Rest-of-Europe
• Asia-Pacific – India, Australia & New Zealand, Japan, Vietnam, and Rest-of-Asia-Pacific
• Middle East Africa – Israel, South Africa, Kenya, and Rest-of-Middle East Africa
• China
• South America – Brazil, Argentina, and Rest-of-South America
• U.K.
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Key Companies Profiled
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The key market players in the global GIS software in agriculture market include ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., Earth Observing System, Geosoft, Inc., Hi-Target Surveying Instrument Co. Ltd., L3 Harris Technologies, Parrot SA, Pitney Bowes Inc., Takor Group Ltd., and Oracle Corporation, among others
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Market Segmentation
Market Outlook by Solution Type
In terms of market value, the on-cloud GIS software solutions have dominated the global GIS software in agriculture market during the forecast period and generated a market revenue of $1.04 billion in 2019. Factors such as technology maturation and widespread adoption of GIS software have contributed massively towards the growth of on-cloud GIS software solutions.
Market Segmentation by Application
Out of all the applications, crop monitoring applications occupy most of the market share in the global market for GIS software in agriculture market. The application areas of GIS software solutions in agriculture cover a wide range of farm assessment aspects, including irrigation, field monitoring, soil mapping, yield forecasting, plant health management, and data management. The irrigation sector represents the most significant application market for GIS software in agriculture technologies.
Market Segmentation by Region
North America region holds the most prominent market share for the GIS software in agriculture market globally and generated the highest revenue of $432.3 million in 2018. Although North America and the European region hold a major market share, other developing regions such as Japan, Middle East Africa, and South America are witnessing massive opportunities day by day. During the forecast period, the European market for GIS software in agriculture is expected to witness a CAGR of 9.33%.
Key Questions Answered in this Report
Key Questions Answered in this Report:
• What is the expected global GIS software in agriculture market size in terms of value during the period 2018-2024?
• What is the expected future scenario and revenue generated by the different types of solutions such as on-premise and on-cloud software, for GIS software in agriculture?
• What is the expected future scenario and revenue generated by the GIS software in agriculture for different applications in farming including crop monitoring, soil analysis, and irrigation monitoring, among others?
• Which geographical region is the largest market for global GIS software in agriculture market?
• What is the expected future scenario and the revenue generated by different geographical regions and countries such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan in the global GIS software in agriculture market?
• What is the expected future scenario and revenue generated by different applications of GIS software in agriculture in different regions such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan?
• What is the competitive strength of the key players in the GIS software in agriculture on the basis of the analysis of their recent developments, product offerings, and regional presence?
• What are the emerging trends in global GIS software in agriculture market?
• How is the adoption scenario, related opportunities and challenges associated with GIS software in agriculture?
• What are the market dynamics of the global GIS software in agriculture market including market drivers, restraints, and opportunities?
• What will be the major market driving trends for GIS software in agriculture in terms of business model, market consolidation, and new product offerings?
Market Overview
Market Overview and Estimation
As the world population stood at 7.7 billion in 2019, the pressure on the food and agriculture value chain to meet the global food demand is increasing with every passing day. With limited and continuously depleting natural resources and shrinking arable land due to urbanization, the need to optimize farm resources in order to produce agricultural commodities optimally is rising day by day.
In 2019, only 28.10% of the total employed population were working in the agricultural sectors. In comparison to 2000, the share has fallen drastically from the figure of 40.06%. To combat the problems related to rising food demand, leading technology providers are introducing innovative solutions in the farming arena. Technologies such as Geographic Information System (GIS) and Global Navigation Satellite Systems (GNSS) help farmers interpret, analyze, and assess data to make smart farming decisions.
In our recently conducted industry analysis, the global GIS software in agriculture industry is projected to cater to a market revenue of $2.57 billion in 2024 as compared to $1.44 billion generated in 2018 while growing at a CAGR of 10.41 during the forecast period 2019-2024. The growing need to elevate farm produce has resulted in awareness among governments worldwide, which has contributed to the growth of this market. The massive usage of this technology also aims at solving the rising concerns over global food security, resulting in intensive investments from governments and stakeholders globally.
Substantial technological changes such as the integration of remote sensing equipment, implementation of Internet of Things (IoT) and Information and Communication Technologies (ICT), application of Artificial Intelligence (AI), and predictive analytics in the farming scenario, have fuelled the growth and adoption of GIS technologies for the purpose of yield forecasting, pest monitoring, crop monitoring, irrigation monitoring, and soil analysis, among others. Several GIS software providers are progressing towards making their solutions compatible with popular brands that offer drones in the agriculture space.
Some of the prominent players in the GIS software in agriculture market include ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., and Oracle Corporation, among others. In order to create public awareness about their existing and new products and compete with their competitor’s product portfolio, key market players have ramped up their product launch activities in recent years. For instance, in 2019, Hexagon AB launched GeoMedia, which is an on-cloud GIS software solution for precision agriculture.
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Growth Drivers
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• Tackling Global Food Insecurity
• Favourable Government Initiatives and Investments
• Growing Need for Precision Farming
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Market Challenges
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• High Initial Investment Costs
• Availability of Open Source GIS Software and Applications
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Market Opportunities
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• Rising Opportunities in Developing Countries
• Adoption of Drones in Agriculture
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Growth Factors
Tackling Global Food Insecurity
As per the recent report by the United Nations (UN), the world population reached an all-time high mark with 7.7 billion people in 2019. Due to factors such as the limited availability of natural resources and depleting arable land, global governments are actively involved in introducing efficient farm management practices to support the farming sector in achieving the goal of food self-sufficiency.
Favourable Government Initiatives and Investments
As the agriculture industry stands on the brink of technological revolution, developed and developing countries realize its importance and take initiatives to promote smart farming techniques. In the Asia-Pacific region, the government is providing support in terms of subsidy, regulations, and research in the related fields. Additionally, several governments and private research institutes, and favorable trade policies, are making efforts to identify the benefits of agricultural drone and robot solutions for augmenting global food production.
Growing Need for Precision Farming
As traditional farming approaches are being replaced with technological solutions, precision farming solutions are supporting farmers in field monitoring, plant health management, soil mapping, and smart irrigation, among others. The use of GIS software helps farmers capture, store, manipulate, analyze, manage, and present spatial or geographic data for their farms.
