DUBLIN, March 18, 2024 /PRNewswire/ — The “Europe Farm Management Software and Data Analytics Market – Analysis and Forecast, 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The Europe farm management software and data analytics market (excluding U.K.) was valued at $ 1.12 billion in 2022, which is expected to grow with a CAGR of 15.79% and reach $ 2.34 billion by 2027.
In the European market, farm management software and data analytics solutions are made to improve farmers’ operational efficiency and simplify agricultural procedures. By increasing farming methods’ openness, these digital solutions lower the likelihood of crop failure. Farmers may easily access all field activities with the use of farm management software, which can be simply accessible through tablets or mobile phones.
Insights into farm economics, crop scouting, weather tracking and forecasting, irrigation management, yield monitoring, and field mapping are some of the agricultural industry’s primary benefits of these technologies. Using these tools in European agriculture helps farmers make better decisions and increase their overall production.
Market Introduction
The market for farm management software and data analytics in Europe is active, with developments centered on improving agricultural practices. These software solutions, which are designed to make farm operations more efficient, are essential in giving farmers the means to improve transparency, reduce crop failure risk, and simplify different parts of agriculture. Farm management software, which can be accessed on tablets or mobile phones, provides farmers with extensive data on field operations.
Yield monitoring, crop scouting, field mapping, weather tracking and forecasts, irrigation management, and insights into farm economics are some of the important aspects. In addition to showing a dedication to modernity, the agricultural sector in Europe has adopted these technologies, which strategically point towards data-driven decision-making and promote sustainable and fruitful farming methods throughout.
Market Segmentation:
Livestock management is expected to dominate the Europe farm management software and data analytics market in the application segment. The huge market share and growth potential associated with livestock management as an application for farm management software and data analytics is attributed to the broad range of applications found under the farming type for agricultural software solutions.
The product segment’s Europe farm management software and data analytics market is expected to be dominated by on-cloud software-based farm management solutions. The benefits of affordable pricing models, scalability, integration, and convenience associated with software solutions are the primary reasons behind the growth of this product offering.
The Europe farm management software and data analytics market in the product segment is expected to be dominated by managed services. Managed services include various services such as data, analytics, farm operation, supply chain management, and climate information services. They deliver service-oriented architecture services and solutions, providing many benefits to an organization, including enhanced information flow, configuration flexibility, ability to build new functionalities, and advanced integration capabilities quickly. Thus, the vast market share of managed services segment is due to the market players providing a service-oriented architecture that aligns the business objectives with the IT environment.
Analyst’s Perspective on Europe Farm Management Software and Data Analytics Market
Farm management software adoption is higher in developed countries due to factors such as technology availability, high-speed internet access, and technological literacy among farmers. In contrast, adoption rates are lower in developing countries, particularly in rural areas with limited technology and internet connectivity. Efforts are being made to increase adoption rates in developing countries through programs and initiatives aimed at improving agricultural productivity and sustainability.
How can this report add value to end users?
Product/Innovation Strategy: The product segment helps the reader in understanding the different types of farm management software for the agriculture industry and their potential in Europe region. Moreover, the study provides the reader with a detailed understanding of the different farm management software and data analytics products by application (precision farming, livestock management, aquaculture, and forestry) and precision farming (yield monitoring and farm mapping, crop scouting, weather tracking and forecasting, irrigation management, and farm economics).
Growth/Marketing Strategy: The Europe farm management software and data analytics market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been business expansion to strengthen their positions in the farm management software and data analytics market.
Competitive Strategy: Key players in the Europe farm management software and data analytics market analyzed and profiled in the study involve farm management software and data analytics service providers that provide tools and technologies. Moreover, a detailed competitive benchmarking of the players operating in the Europe farm management software and data analytics market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Questions Answered in the Report
- What is the estimated Europe farm management software and data analytics market size in terms of revenue for the forecast period 2022-2027, and what is the expected compound annual growth rate (CAGR) during the forecast period 2022-2027?
- What are the major restraints inhibiting the growth of the Europe farm management software and data analytics market?
- What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- What is the competitive strength of the key players in the farm management software and data analytics market based on an analysis of their recent developments, product offerings, and regional presence?
- How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
Some of the prominent names established in this market are:
- Accenture
- AGRIVI
- Amazon Web Services, Inc.
- BASF SE
- CNH Industrial N.V.
- Syngenta AG
- Proagrica
- Yara International ASA
- OneSoil
- Vidacycle
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Market Definition
1.1.2 Trends
1.1.2.1 Increasing Requirement for Crop Yield
1.1.2.1.1 Growing Need to Combat Climate Change
1.1.2.1.2 Increasing Agricultural Farm Size
1.1.2.2 Expanding Technological Advancements in Agricultural Applications
1.1.2.2.1 Augmenting Implementation of Agriculture Technology-as-a-Service
1.1.2.2.2 5G: A Boost for Farm Management and Data Analytics Services
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory Bodies
1.1.3.3 Government Programs
1.2 Business Dynamics
1.2.1 Drivers
1.2.1.1 Increasing Demand for Food
1.2.1.1.1 Need to Reduce Crop Losses
1.2.1.1.2 Decreasing Workforce Availability
1.2.1.2 Need for Automation and Mechanization
1.2.1.3 Increased Government Support
1.2.2 Challenges
1.2.2.1 Threat to Farm Data Security Leading to Low Investments
1.2.2.2 Technological Challenges Impede the Development
1.2.2.2.1 Complexities Due to Lack of Infrastructure
1.2.2.2.2 Lack of Interoperation Management
1.2.3 Market Strategies and Developments
1.2.3.1 Business Strategies
1.2.3.1.1 Product Launches
1.2.3.1.2 Business Expansions
1.2.3.2 Corporate Strategies
1.2.3.2.1 Mergers and Acquisitions
1.2.3.2.2 Partnerships, Collaborations, and Joint Ventures
1.2.3.2.3 Snapshot of Corporate Strategies Adopted by the Key Players in the Market
1.2.4 Opportunities
1.2.4.1 Rise in Integration of Emerging Technological Advancements
1.2.4.1.1 Increasing Adoption of Modern Technologies
1.2.4.1.2 Growth in AI and Blockchain-Based Solution Providers
1.2.4.1.3 Integral Offerings with Horizontal Integration in Farming
1.2.4.2 Improved Services for Farmers in Rural Areas
1.2.4.2.1 Penetration of Innovative Wireless Networks
1.2.4.2.2 Scope of Developing Affordable Solutions
1.2.5 Case Studies
1.2.5.1 SourceTrace
1.2.5.2 AGRIVI
1.2.5.3 AgriWebb
1.3 Impact of COVID-19 on Farm Management Software and Data Analytics Market
1.4 Start-Up Landscape
1.4.1 Key Startups in the Ecosystem
1.4.1 Funding Analysis
1.4.1.1 Total Investments and Number of Funding Deals
1.4.1.2 Top Investments by Market Players
2 Region
2.1 Europe
2.1.1 Market
2.1.1.1 Key Providers in Europe
2.1.1.2 Business Drivers
2.1.1.3 Business Challenges
2.1.2 Application
2.1.2.1 Europe Farm Management Software and Data Analytics Market (by Application), $Million, 2021-2027
2.1.2.2 Europe Farm Management Software and Data Analytics Market (by Precision Farming), $Million, 2021-2027
2.1.3 Product
2.1.3.1 Europe Farm Management Software and Data Analytics Market (by Product), $Million, 2021-2027
2.1.3.2 Europe Farm Management Software and Data Analytics Market (by Software Type), $Million, 2021-2027
2.1.3.3 Europe Farm Management Software and Data Analytics Market (by Service Provider), $Million, 2021-2027
2.1.4 Europe (by Country)
2.1.4.1 Germany
2.1.4.2 France
2.1.4.3 Netherlands
2.1.4.4 Italy
2.1.4.5 Spain
2.1.4.6 Belgium
2.1.4.7 Switzerland
2.1.4.8 Greece
2.1.4.9 Ukraine
2.1.4.9.1 Market
2.1.4.10 Turkey
2.2 U.K.
3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.2.1 Market Share Analysis of Farm Management Software and Data Analytics Companies
3.3 Company Profiles
3.3.1 Company Overview
3.3.1.1 Role in the Farm Management Software and Data Analytics Market
3.3.1.2 Product Portfolio
3.3.1.3 Target Customers
3.3.2 Business Strategies
3.3.2.1 Business Expansions
3.3.3 Corporate Strategies
3.3.3.1 Mergers and Acquisitions
3.3.4 Analyst View
For more information about this report visit https://www.researchandmarkets.com/r/4nvc7w
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