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Global Farm Management Software & Services Market

Global Farm Management Software & Services Market, Analysis & Forecast (2017-2021) (Focus on Service Type: Managed, Maintenance & Support Services, Applications: Record Keeping, Farm Mapping, Monitoring & Forecasting, Farm Economics, Delivery Model and Region)

The farm management software and services market is expected to reach $2,883.4 million by 2021, at a CAGR of 17.6% from 2017 to 2021. This growth is attributed to the increasing awareness among governments about the need to produce more food while taking care about the environment.

SKU: AG013A
Published Year: 2017
 
 

Owing to the to the increase in global population which has led to an increased demand for food, the need to produce more food from the available farm lands has increased drastically. Taking care of the environment by using minimal quantities of chemical fertilizers while ensuring better yields from the available farm areas has resulted in the growth of the global farm management softaware and services market, which is expected to grow at a CAGR of 17.6% through 2017 to 2021. The report is a compilation of the different segments of global farm management software and services market, including market breakdown by application, service type, delivery models and geographical areas. Herein the revenue generated from the applications, namely:  record keeping, farm mapping, monitoring and forecasting, farm economics and others (inventory management and farm equipment maintenance) ;  service type, namely: managed services (data services, analytics, farm operation services) and maintenance and support services; delivery models, namely: on-premise delivery model and cloud based delivery model,  and geography, namely: North America, Europe, APAC and Rest of the World is tracked to calculate the overall market size. The report also provides market numbers and analysis on cross segments which include delivery models by application and service type, and geographical regions by application and service types. While highlighting the key driving and restraining forces for this market, the report also provides a detailed  summary of the farm management software and services market. It also includes the key participants involved in the industry at the relevant sections. 

The report answers the following questions about the global farm management software and services market:

•    What are the different factors driving the market and how will the impact change through the forecast period?
•    What are the major factors challenging the growth of global farm management software and services market and how can they be addressed through the forecast period?
•    How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
•    Which region will lead the global farm management software and services market by the end of the forecast period?
•    Which application and service type leads in which region?
•    What are the prevalent farm management software applications and what is the market size for each of them?
•    What are the prevalent farm management service types and what is the market size for each of them?
•    What are the prevalent delivery models and what is the market size for each of them?
•    Which application and service type leads in each of the delivery models?
•    How will the competitive rivalry evolve through the forecast period?

The report puts special emphasis on the market share of the services provided in farm management software and services market, owing to the changing paradigms in the industry. In spite of this, due to the numerous instances of failed business models and financial pressure, a majority of potential new entrants resist from adopting farm management software and services. The reports further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. This  segment also focuses on the investments done in the farm management software and services market by the market participants.

The most often used strategy for developing a better hold on to the market has been through product launch and development, followed by partnerships and collaborations. Moreover, the company profile section  highlights  significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years. 

Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (R.o.W.). Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating in the global farm management software and services market are Trimble Navigation Limited, Iteris, Inc., Ag Leader, AgJunction, Deere and Company, Conservis Corporation, Farmers Edge, and Agrivi, among others.

TABLE OF CONTENT
Executive Summary
1 Report Methodology & Scope
1.1 The Farm Management Software & Services Market Research Methodology
1.1.1 Assumptions & Limitations
1.1.2 Primary Data Sources
1.1.3 Secondary Data Sources
1.1.4 Data Triangulation
1.1.5 Data Analysing & Market Estimation
2 Market Dynamics
2.1 Drivers
2.1.1 Convenience of Cloud Usage
2.1.2 Government initiatives to improve farming and agriculture
2.1.3 Cost effective farming
2.1.4 Increasing Farm Size
2.2 Restraints
2.2.1 Lack of technical knowledge
2.2.2 Risk of security breaches
2.2.3 Huge investment
2.2.4 Lack of acceptance from small farmers
2.3 Opportunities
2.3.1 Increased cloud security
2.3.2 Increased availability of portable devices
2.3.3 Abundance of arable land
3 Competitive Landscape
3.1 Key Market Developments & Strategies
3.1.1 Mergers & Acquisitions
3.1.2 Partnerships, Collaborations & Joint Ventures
3.1.3 Product Launches
3.1.4 Business Expansion
3.2 Industry Attractiveness
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of Buyers
3.2.3 Bargaining Power of Suppliers
3.2.4 Threat from Substitutes
3.2.5 Intensity of Competitive Rivalry
4 Industry Analysis
4.1 Opportunity Matrix
4.2 Country Share Analysis
4.3 Market Share Analysis
5 Global Farm Management Software and Services Market by Delivery Model
5.1 Assumptions and Limitations for Analysis and Forecast of the Global Farm Management Software & Services Market
5.2 Market Overview
5.3 On-Premise Delivery Model
5.3.1 On-Premise Delivery Model by Application
5.3.2 On-Premise Delivery Model by Service Type
5.4 Cloud Based Delivery Model
5.4.1 Cloud Based Delivery Model by Application
5.4.2 Cloud Based Delivery Model by Service Type
6 Farm Management Software and Services Market by Service Type
6.1 Managed Services
6.1.1 Farm Operation Services
6.1.2 Data Services
6.1.3 Analytics
6.2 Maintenance and Support Services
7 Farm Management Software and Services Market by Application
7.1 Record Keeping
7.2 Farm Mapping
7.3 Monitoring and Forecasting
7.4 Farm Economics
7.5 Others
8 Farm Management Software and Services Market, by Region
8.1 North America
8.1.1 North America by Country
8.1.1.1 The U.S.
8.1.1.2 Canada
8.1.1.3 Mexico
8.1.2 North America by Application
8.1.3 North America by Services
8.2 Europe
8.2.1 Europe by Country
8.2.1.1 Germany
8.2.1.2 The U.K.
8.2.1.3 France
8.2.1.4 Italy
8.2.1.5 Spain
8.2.1.6 The Netherlands
8.2.1.7 Rest of Europe
8.2.2 Europe by Application
8.2.3 Europe by Services
8.3 Asia-Pacific
8.3.1 APAC by Country
8.3.1.1 Australia
8.3.1.2 China
8.3.1.3 India
8.3.1.4 Japan
8.3.1.5 Rest of Asia-Pacific
8.3.2 APAC by Application
8.3.3 APAC by Services
8.4 Rest of the world (RoW)
8.4.1 RoW by Country
8.4.1.1 South America
8.4.1.2 Middle East and Africa
8.4.2 RoW by Application
8.4.3 RoW by Services
9 Company Profiles
9.1 AgJunction
9.1.1 Company Overview
9.1.2 Product Portfolio
9.1.3 Financials
9.1.3.1 Financial Summary
9.1.4 SWOT Analysis
9.2 Ag Leader Technology
9.2.1 Company Overview
9.2.2 Product Portfolio
9.2.3 SWOT Analysis
9.3 AGRINAVIA
9.3.1 Company Overview
9.4 Agrivi
9.4.1 Company Overview
9.4.2 Product Portfolio
9.4.3 SWOT Analysis
9.5 aWhere
9.5.1 Company Overview
9.5.2 Product Portfolio
9.5.3 SWOT Analysis
9.6 Conservis Corporation
9.6.1 Company Overview
9.6.2 Product Portfolio
9.6.3 SWOT Analysis
9.7 Deere & Company
9.7.1 Company Overview
9.7.2 Product Portfolio
9.7.3 Financials
9.7.3.1 Financial Summary
9.7.4 SWOT Analysis
9.8 DICKEY-John
9.8.1 Company Overview
9.8.2 Product Portfolio
9.8.3 SWOT Analysis
9.9 EFC Systems
9.9.1 Company Overview
9.9.2 Product Portfolio
9.10 Farmers Edge
9.10.1 Company Overview
9.10.2 Product Portfolio
9.10.3 SWOT Analysis
9.11 FarmLogs
9.11.1 Company Overview
9.11.2 Product Portfolio
9.11.3 SWOT Analysis
9.12 Granular, Inc.
9.12.1 Company Overview
9.12.2 Product Portfolio
9.12.3 SWOT Analysis
9.13 Iteris, Inc.
9.13.1 Company Overview
9.13.2 Financials
9.13.2.1 Financial Summary
9.13.3 Product Portfolio
9.13.4 SWOT Analysis
9.14 SourceTrace Systems
9.14.1 Company Overview
9.14.2 Product Portfolio
9.14.3 SWOT Analysis
9.15 SST Development Group Inc.
9.15.1 Company Overview
9.15.2 Product Portfolio
9.15.3 SWOT Analysis
9.16 The Climate Corporation
9.16.1 Company Overview
9.16.2 Product Portfolio
9.16.3 SWOT Analysis
9.17 TRIMBLE NAVIGATION LIMITED
9.17.1 Company Overview
9.17.2 Financials
9.17.2.1 Financial Summary
9.17.3 Product Portfolio
9.17.4 SWOT analysis
List of Tables
Table 2.1 Initiatives by Governments of Various Countries to Promote Farming
Table 3.1 Key Mergers & Acquisitions (2014-17)
Table 3.2 Key Partnerships & Collaborations (2014-16)
Table 3.3 Key Launch Activities (2015-16)
Table 3.4 Key Business Expansion Activities (2014-17)
Table 3.5 Analyzing the Threat of New Entrants
Table 4.1 Market Share Analysis
Table 5.1 Global Farm Management Software and Services Market by Delivery Model, 2016-2021
Table 5.2 On-Premise Delivery Model by Application, 2016-2021
Table 5.3 On-Premise Delivery Model by Service Type, 2016-2021
Table 5.4 Cloud Based Delivery Model by Application, 2016-2021
Table 5.5 Cloud Based Delivery Model by Service Type, 2016-2021
Table 6.1 Farm management Software and Services Market by Service Type, 2016-2021
Table 6.2 Products from Leading Companies Providing Farm Operation Services
Table 6.3 Products by Leading Companies which Provide Data Services in the Farm Management Software and Services Market
Table 6.4 Products by Leading Companies in the Farm Management Software and Services Market which Provide Analytical Service
Table 7.1 Global Farm Management Software and Services Market by Service Type, 2016-2021
Table 7.2 Record Keeping Products by key Companies in Farm Management Software & Services Market
Table 7.3 Farm Mapping Products by Leading Companies in the Farm Management Software and Services market
Table 7.4 Farm Monitoring and Forecasting Products by Leading Companies in Farm Management Software and Services Market
Table 7.5 Farm economics products by leading companies in the farm management software and services market
Table 7.6 Inventory Management Software and Services by Leading Companies in the Farm Management Software & Services Market
Table 8.1 Global Farm Management Software and Services Market by Geography, 2016-2021
Table 8.2 North American Farm Management Software and Services Market by Country, 2016-2021
Table 8.3 North America Farm Management Software and Services Market by Application, 2016-2021
Table 8.4 North America Farm Management Software and Services Market by Service Type, 2016-2021
Table 8.5 Europe Farm Management Software and Services Market by Country, 2016-2021
Table 8.6 Europe Farm Management Software and Services Market by Application, 2016-2021
Table 8.7 Europe Farm Management Software and Services Market by Service Type, 2016-2021
Table 8.8 Asia-Pacific Farm Management Software and Services Market by Country, 2016-2021
Table 8.9 APAC Farm Management Software and Services Market by Application, 2016-2021
Table 8.10 APAC Farm Management Software and Services Market by Service Type, 2016-2021
Table 8.11 Rest of the World Farm Management Software and Services Market by Country, 2016-2021
Table 8.12 RoW Farm Management Software and Services Market by Application, 2016-2021
Table 8.13 RoW Farm Management Software and Services Market by Service Type, 2016-2021
List of Figures
Figure 1 Global Farm Management Software and Services Market Snapshot
Figure 2 Global Farm Management Software and Services Market by Application
Figure 3 Global Farm Management Software and Services Market by Service Type
Figure 4 Global Farm Management Software and Services Market by Geography
Figure 1.1 Farm Management Software & Services Market Scope
Figure 1.2 Report Design
Figure 1.3 Primary Interviews Breakdown, by Player, Designation, and Region
Figure 1.4 Sources of Secondary Research
Figure 1.5 Data Triangulation
Figure 1.6 Top Down-Bottom-Up Approach for Market Estimation
Figure 2.1 Market Dynamics
Figure 2.2 Impact Analysis of Drivers
Figure 2.3 Reasons for Using Cloud Services in Percentage of Total Cloud Users in Europe for 2014
Figure 2.4 Daily Internet Usage by Adults in Great Britain from 2013-2016
Figure 2.5 Average Expenditure of Farms in the U.S. on Farm Production Activities in 2013 & 2014
Figure 2.6 Number of Farms and Average Farm Size in the U.S. from 2013-2016
Figure 2.7 Impact Analysis of Restraints
Figure 3.1 Strategies Adopted by Key Players
Figure 3.2 Share of Key Market Strategies & Developments
Figure 3.3 Porter’s Five Forces Analysis
Figure 4.1 Global Farm Management Software & Services Market Opportunity Matrix, by Region, 2016
Figure 4.2 Global Farm Management Software & Service Market Opportunity Matrix, by Country, 2016
Figure 4.3 Global Farm Management Software & Service Market Opportunity Matrix, by Region, 2017- 2021
Figure 4.4 Country Share Analysis of Global Farm Management Software and Services Market, 2016
Figure 5.1 Types of Farm Management Software and Services by Delivery Model
Figure 5.2 Farm Management Software and Services Market by Delivery Model, 2016, 2017 & 2021
Figure 5.3 Advantages of On-Premise Delivery Model
Figure 5.4 Disadvantages of On-Premise Delivery Model
Figure 5.5 On-Premise Delivery Model Market of Farm Management Market
Figure 5.6 Factors Limiting Enterprises from Using Cloud Computing Services, by Type of Enterprise in 2014
Figure 5.7 On-Premise Delivery Model by Application Type, 2016, 2017 & 2021
Figure 5.8 On-Premise Delivery Model by Service Type, 2016, 2017 & 2021
Figure 5.9 Advantages of Cloud Based Delivery Model
Figure 5.10 Disadvantages of Cloud Based Delivery Model
Figure 5.11 Cloud Based Delivery Model Market of Farm Management Software and Services Market, 2016-2021
Figure 5.12 Use of Cloud Computing Services in Enterprises in 2016
Figure 5.13 Cloud Based Delivery Model by Application, 2016, 2017 & 2021
Figure 5.14 Cloud Based Farm Management Software by Service Type, 2016, 2017 & 2021
Figure 6.1 Types of Services in the Farm Management Software and Services Market
Figure 6.2 Farm Management Software and Services Market by Service Type, 2016, 2017 & 2021
Figure 6.3 Types of Managed Services
Figure 6.4 Revenue Generated from Managed Services, 2016-2021
Figure 6.5 World Population from 1975-2015
Figure 6.6 Consumption of Fertilizer in Kilograms/Hectare of Arable Land from 2010-2014
Figure 6.7 Expenditure on Farm Supplies and Repairs in 2014 & 2015
Figure 6.8 Revenue Generated from Maintenance and Support Services, 2016-2021
Figure 7.1 Applications of Farm Management Software and Services
Figure 7.2 Farm Management Software and Services Market by Application, 2016, 2017 & 2021
Figure 7.3 Importance of Record Keeping
Figure 7.4 Types of Records to be kept
Figure 7.5 Revenue Generated from Record Keeping Application, 2016-2021
Figure 7.6 Revenue Generated from Farm Mapping Application, 2016-2021
Figure 7.7 Factors needed to be monitored
Figure 7.8 Revenue Generated from Monitoring and Forecasting Application, 2016-2021
Figure 7.9 Revenue Generated from Farm Economics Application, 2016-2021
Figure 7.10  Revenue Generated from Other Applications, 2016-2021
Figure 8.1 Farm Management Software and Services Market, by Geography
Figure 8.2 Global Farm Management Software and Services Market, Market Share and CAGR by Geography
Figure 8.3 North American Farm Management Software and Services Market, by country
Figure 8.4 Number of farms in the U.S., 2013-2016
Figure 8.5 Average farm size in the U.S., 2013-2016
Figure 8.6 The U.S. Farm Management Software and Services Market Size (2016-2021)
Figure 8.7 Average Farm Size and the Number of Farms in Canada (2006 and 2011)
Figure 8.8 Distribution of Farms by Age of Operator in Canada in 2011
Figure 8.9 Canada Farm Management Software and Services Market Size, 2016-2021
Figure 8.10 Mexico Farm Management Software and Services Market Size, 2016-2021
Figure 8.11 Fertilizer Consumption in Mexico in Kg/Hectare from 2012-2014
Figure 8.12 North America Farm Management Software and Services Market by Application ($Million), 2017-2021
Figure 8.13 North America Farm Management Software and Services Market by Service Type, 2017 and 2021
Figure 8.14 Europe Farm Management Software and Services Market by Country, 2017-2021
Figure 8.15 Number of Holdings and Average Farm Size in Germany, 2000 and 2010
Figure 8.16 Farm Management Software and Services Market Size in Germany, 2016-2021
Figure 8.17 Number of Holdings and Average Farm Size in U.K., 2000 and 2010
Figure 8.18 Farm Management Software and Services Market Size in U.K., 2016-2021
Figure 8.19 Number of Holdings and Average Farm Size in France, 2000 and 2010
Figure 8.20 Farm Management Software and Services Market Size in France, 2016-2021
Figure 8.21 Number of Holdings and Average Farm Size in Italy, 2000 and 2010
Figure 8.22 Farm Management Software and Services Market Size in Italy, 2016-2021
Figure 8.23 Number of Holdings and Average Farm Size in Spain, 2000 and 2010
Figure 8.24 Farm Management Software and Services Market Size in Spain, 2016-2021
Figure 8.25 Number of Holdings and Average Farm Size in the Netherlands, 2000 and 2010
Figure 8.26 Farm Management Software and Services Market Size in the Netherlands, 2016-2021
Figure 8.27 Farm Management Software and Services Market Size in Rest of Europe, 2016-2021
Figure 8.28 Europe Farm Management Software and Services Market by Application ($Million), 2017-2021
Figure 8.29 Europe Farm Management Software and Services Market by Service Type, 2017-2021
Figure 8.30 Asia-Pacific Farm Management Software and Services Market by Country, 2016-2021
Figure 8.31 Area Utilized and Amount of Production of Barley in Australia, 2010 and 2012
Figure 8.32 Farm Management Software and Services Market Size in Australia, 2016-2021
Figure 8.33 Fertilizer Consumption in China, 2005-2014
Figure 8.34 Farm Management Software and Services Market Size in China, 2016-2021
Figure 8.35 Land under Cultivation in India, 2010-2013
Figure 8.35 Total Cereals and Pulses Produced from Farms in India, 2010-2013
Figure 8.36 Farm Management Software and Services Market Size in India, 2016-2021
Figure 8.37 Percentage of Arable Land in Japan, 1984-2014
Figure 8.38 Farm Management Software and Services Market Size in Japan, 2016-2021
Figure 8.39 Farm Management Software and Services Market Size in Japan, 2016-2021
Figure 8.40 APAC Farm Management Software and Services Market by Application ($Million), 2017 and 2021
Figure 8.41 APAC Farm Management Software and Services Market by Service Type, 2017-2021
Figure 8.42 Rest of the World Farm Management Software and Services Market by Country, 2016-2021
Figure 8.43 Farm Management Software and Services Market Size in South America, 2016-2021
Figure 8.44 Fertilizer consumption in Brazil, 2009-2011
Figure 8.45 Farm Management Software and Services Market Size in Middle East and Africa, 2016-2021
Figure 8.46 RoW Farm Management Software and Services Market by Application ($Million), 2017-2021
Figure 8.47 RoW Farm Management Software and Services Market by Service Type, 2017-2021
Figure 9.1 Ag Junction: Overall Financials, 2014-16
Figure 9.2 Ag Junction: Geographic Revenue Mix, 2014-16
Figure 9.3 Ag Junction: SWOT Analysis
Figure 9.4 Ag Leader: SWOT Analysis
Figure 9.5 Agrivi: SWOT Analysis
Figure 9.6 aWhere: SWOT Analysis
Figure 9.7 Conservis Corporation: SWOT Analysis
Figure 9.8 Deere & Co.: Overall Financials, 2014-2016
Figure 9.9 Deere & Co.: Geographical Revenue Mix, 2014-16
Figure 9.10 Deere & Co.: Business Revenue Mix, 2014-16
Figure 9.11 Deere & Company: SWOT Analysis
Figure 9.12 DICKEY-John: SWOT Analysis
Figure 9.13 Farmers Edge: SWOT Analysis
Figure 9.14 FarmsLogs: SWOT Analysis
Figure 9.15 Granular, Inc.: SWOT Analysis
Figure 9.16 Iteris: Overall Financials, 2014-16
Figure 9.17 Iteris: Business Revenue Mix, 2014-16
Figure 9.18 Iteris, Inc.: SWOT Analysis
Figure 9.19 SourceTrace Systems: SWOT Analysis
Figure 9.20 SST Development Group, Inc.: SWOT Analysis
Figure 9.21 The Climate Corporation: SWOT Analysis
Figure 9.22 Trimble: Overall Financials, 2014-16
Figure 9.23 Trimble: Geographical Revenue Mix, 2014-16
Figure 9.24 Trimble: Business Revenue Mix, 2014-16
Figure 9.25  Trimble Navigation Limited: SWOT Analysis

Finding ways to cater to the ever increasing demand for food from the limited farmlands requires solutions that would help improve the productivity of the farm. Moreover, with the increasing farm sizes, the management of farms has become more and more difficult. Farm management software provide a convenient and effective solution to the problems of handling large amounts of data generated from farms which are larger in size. In a survey conducted by USDA, they revealed that the number of farms in U.S. decreased from 2.2 million in 2013 to 2.06 million in 2016. During the same time, the average farm size increased from 435 acres in 2013 to 442 acres in 2016. These software not only help in data handling, but they also provide analytical services which help a farmer in taking more informed decisions. This way the farmers do not have to depend on decision making by chance, instead they can make decisions with assurance of success. 

Farm management assists in managing all the farm activities so that the farm yields better results. Limited availability of resources and the need to cut down on the usage of chemical fertilizers has led to the governments searching for ways and alternatives that help in increasing yields from the available lands while reducing the fertilizer consumption. According to the World Bank, the use of fertilizer in China increased from 423.4 kg/hectare in 2005 to 565.3 kg/hectare in 2014 which shows the efforts that have been put into increasing the yields from the available area. But, increase in fertilizer usage has negative impacts on the environment and also on human health. Thus the need for farm management software is increasing with the increasing need to produce more output from the available land. Farm management software ensures the utilization of each acre of a farm to its maximum potential. These software also help in making sure that the application of fertilizer and the irrigation of fields is effective and in precise quantities. 

The market is expected to progress at a substantial rate due to the ever growing affinity for more convenient cloud storage which has been widely incorporated in farm management software. The governments have also realized the need and importance of these software, thus their initiatives to promote farming and agriculture further drive the growth of the market. These software promote cost effective farming which makes it profitable for the farmers as well. The increasing farm size in most of the regions further promotes the growth of the farm management software and services market as the need of software is more in larger farms were more data is generated and its collection and analysis is more complicated. 

The growth of this market is being driven by certain factors such as the convenience of cloud usage in storing and accessing data, government initiatives to improve farming and agriculture, cost effective farming which helps in improving yields while reducing costs, the increasing farm size and the growing demand for food. However, certain challenges are inhibiting the overall growth for the farm management software & services market which include lack of technical knowledge, risk of security breaches, the need of large investment for on-premise software and the lack of acceptance from small farmers.

The farm management software and services market is expected to reach $2,883.4 million by 2021, at a CAGR of 17.6% from 2017 to 2021. This growth is attributed to the increasing awareness among governments about the need to produce more food while taking care about the environment.

Global Farm Management Software and Services Market Snapshot

Global Farm Management Software and Services Market

Source: BIS Research Analysis, Secondary Research and Expert Views

The concept of farm management software and services market revolves around the major applications which include record keeping, farm mapping, monitoring and forecasting, farm economics and other applications. The market can also be classified on basis of the type of service provided by the software. These services can either be managed services or maintenance and support services. Managed services include data services, analytics and farm operation services which include inventory management and maintenance of equipment.

The trends of the farm management software and services market varies with different geographical regions. The farm management software and services market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). The competitive landscape for the farm management software and services market demonstrates an inclination towards companies adopting strategies such as product launch and development, and partnerships and collaborations. The major established players in the market, are focusing more product launch and development to introduce new forms of innovations. Trimble Navigation, Iteris Inc., AgJunction, Ag Leader, and The Climate Corporation were the most prominent names that surfaced in 2016 in this regard. These companies launched various new products and brought new developments to their existing products in order to expand their share in the market.

The need for more R&D and appropriate regulatory environments is a prerequisite for sustained growth of this market. Various government and private research institutes, and regulatory bodies and associations are putting in substantial efforts to identifying how farm management software can be important for required food production. The need for sophisticated farming techniques is necessary to fulfill the increasing demand for food. Farm management software not only makes farming more productive, it also helps in attracting the youth towards farming and agriculture. The youth needs to step up in order to bring improvements in the condition of farming, for which farm management software can play an important role.

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