The global software market for precision farming tools 2018-2022 is expected to post a CAGR of more than 16% during the forecast period, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global software market for precision farming tools from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing impact of software for precision farming tools in decision making. Software for precision farming tools helps in decision making in precision farming at various stages. It helps identify the risk factors of farming that requires proper handling and better management, which includes the variability of soil, crop conditions, and weather conditions. Such software deals with a vast amount of data and helps the farmers in using historical data to make predictive analysis and take appropriate farming decisions.
This market research report on the global software market for precision farming tools 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising demand for SaaS in farming as one of the key emerging trends in the global software market for precision farming tools:
Global software market for precision farming tools: Rising demand for SaaS in farming
SaaS-based cloud computing software solution offers a platform to efficiently manage the resources in precision farming. SaaS is provided as a cloud-based service, and the maintenance is done by the service providers. So, it can inherently reduce the cost of ownership of the software infrastructure for farmers.
"Some of the prominent vendors that offer SaaS-based for precision farming tools are Deere Company, Monsanto, and Trimble. The key leading companies are focusing on the continuous development of SaaS solutions for precision farming. The SaaS for precision agriculture is specifically developed to provide an integrated environment to manage all farming resources. The vendors also focus on developing solutions due to an increase in the influx of mobile applications among the end-users," says a senior analyst at Technavio for research on agricultural equipment.
Global software market for precision farming tools: Segmentation analysis
This market research report segments the global software market for precision farming tools by application (yield monitoring software, crop scouting software, weather forecasting software, and field mapping software), by delivery model (cloud-based software and local web-based software) and geographical regions (APAC, EMEA, and the Americas).
The Americas accounted for the highest growth in 2017 with an incremental growth of more than 46%, followed by EMEA and APAC respectively.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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