Precision Farming Tools Software Market by Delivery Model and Geography - Forecast and Analysis 2020-2024

The precision farming tools software market size has the potential to grow by USD 914.90 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by delivery model (cloud-based and local web-based) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Ag Leader Technology, AgJunction Inc., Agrivi d.o.o., Bayer AG, Deere & Co., Farmers Edge Inc., Pear Agri Ltd., Raven Industries Inc., TELUS Communications Inc., and Trimble Inc.

Market Overview

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Market Competitive Analysis

The precision farming tools software market is fragmented. Ag Leader Technology, AgJunction Inc., and Agrivi d.o.o. are some of the major market participants. The vendors are competing in the market based on certain factors such as new software development and creating new partnerships. The expansion of vendors across various regions is increasing the intensity of competition in the market. They are launching updated versions of software for precision farming tools to sustain in the competitive market landscape. Market drivers such as the rise in demand for proactive control of farm operations will also offer immense growth opportunities. However, factors such as the high initial investment by farmers will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this precision farming tools software market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this precision farming tools software market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Ag Leader Technology
• AgJunction Inc.
• Agrivi d.o.o.
• Bayer AG
• Deere & Co.
• Farmers Edge Inc.
• Pear Agri Ltd.
• Raven Industries Inc.
• TELUS Communications Inc.
• Trimble Inc.

Precision Farming Tools Software Market: Segmentation by Geography

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North America was the largest precision farming tools software market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing inclination of farmers toward technology-based farming practices and increase farming output will significantly drive precision farming tools software market growth in this region over the forecast period.

34% of the market's growth will originate from North America during the forecast period. The US is a key market for precision farming tools software in North America. However, market growth in this region will be slower than the growth of the market in other regions.

Precision Farming Tools Software Market: Segmentation by Delivery Model

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Cloud-based software for precision farming tools has many applications in the agriculture ecosystem. The cloud-based software market also covers the revenue generated from cloud-based software services. Using cloud-based software for precision farming tools, farmers can make an accurate prediction of the crop growth stage and adjust the production accordingly. To access a cloud-based software for precision farming tools, farmers do not require to purchase and maintain their own server to run the software.

Therefore, the flexibility and ease of expansion while using cloud-based software for precision farming tools are expected to drive the market during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the precision farming tools software market size.

Precision Farming Tools Software Market: Key Drivers and Trends

The growing demand for proactive control of farm operations is one of the primary factors driving the precision farming tools software market growth. Precision farming allows yield monitoring, field mapping, and crop scouting through advanced software. By analyzing various kinds of data obtained from the software for precision farming, farmers can take proactive actions to ensure the desired yield which, in turn, is driving the demand for precision farming tools software.

The rising adoption of SaaS in farming is a major upcoming precision farming tools software market trend that is expected to grow rapidly. The SaaS for precision farming is specifically developed to provide an integrated environment for the management of all farming resources. Several vendors are focusing on developing such solutions due to the increase in the influx of mobile applications among the customers. The precision farming tools software market forecast report predicts that fueled by these factors, the precision farming tools software market will grow at a CAGR of over 13% during the forecast period.

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Precision Farming Tools Software Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive precision farming tools software market growth during the next five years
• Precise estimation of the precision farming tools software market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the precision farming tools software industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of precision farming tools software market vendors

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