Precision farming software market to reach $1.77 billion by 2020

The report “Precision Farming Software Market by Software, Services, Hardware, Application, & Geography - Analysis & Forecast to 2020” shows that the precision farming software market is expected to reach $1.77 billion by 2020, at a CAGR of 15.1% from 2014 and 2020.

Precision agricultural practices play a major role in improving the productivity and functionality of the farming operations. The farm management solutions consist of software and services in integration with hardware devices. These solutions help the agriculturists and farmers in making smart decisions in the precision farming operations. There are a large number of associations and government bodies which are supporting the precision farming software market. Farm management solutions can be used in a large number of applications, such as for managing financials, monitoring operations, and for maintaining databases related to farming.

The farm management solutions are suitable from small to big farms as well as for large cooperatives. The technology platform provided by the farm management software enables efficient documentation, improves analysis, and improves operations. Recent trends, such as big data, mobile computing, and telematics, are also playing an important role in the farm management solutions. Many companies are engaged in providing advanced technology products related to the precision farming software & services market. These solutions help in saving time, improving output, and increasing accuracy.

Agriculturists and farmers are increasingly adopting software & services for the precision farming market worldwide. These solutions help farmers to efficiently plan and maintain databases, which, in turn, improve their efficiency and productivity. Applying the latest technological solutions, such as the sensing technology, GPS/GNSS technology, display devices, helps to streamline the working capabilities of agriculturists. Agricultural research organizations and associations play an important role in the growth of this market. The impact of precision farming software & services market is likely to be on the electronic & mechanical component manufacturers, software designers, system integrators, agriculturists, distributors, and end-users. Governments of different countries have a keen interest in formulating the standards and regulations for the precision farming software market.

The major players in this Precision Farming Software Market include Deere & Company (U.S.), Trimble Navigation, Ltd. (U.S.), Topcon Precision Agriculture (U.S.), SST Development Group, Inc. (U.S.), Monsanto Company (U.S.), Raven Industries, Inc. (U.S.), Dickey-John Corporation (U.S.), Ag Leader Technology (U.S.), AgJunction (U.S.), and CNH Industrial NV (U.K.).