New York, June 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agriculture Software Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06469600/?utm_source=GNW
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.
Key Highlights
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.
Additional Benefits:
The market estimate (ME) sheet in Excel format
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