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Precision Farming Software Market by Delivery Model (Local/web-based, Cloud-Based, SaaS, PaaS), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting), Service Provider, and Geography - Global Forecast to 2022

Published: February 2017

No. of Pages: 195

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Report Description
Table of Contents

“The increasing need for data management through cloud computing and government’s support for modern agricultural techniques drive the growth of the precision farming software market”

The precision farming software market is expected to grow from USD 463.8 million in 2015 and is expected to reach USD 1,188.7 million by 2022, at a CAGR of 14.03% between 2016 and 2022. Precision farming software is mainly driven by growing demand for real-time data management through cloud computing, government’s support to adopt modern agricultural techniques, and strengthening of intellectual property rights over agriculture innovations. Other factors such as mobile technology integration with farming techniques and growing use of agricultural software for farm efficiency have further contributed to the overall market growth. Precision farming software is going to be the modern way of agriculture that people across the world would adopt. The major restraining factor for the precision farming software market is the high initial investment and the lack of technical awareness among farmers.

“Cloud-based delivery model is expected to grow at highest rate between 2016 and 2022”

Cloud-based delivery model is an Internet-based computing model that provides shared processing of resources and data to users on demand. Currently, cloud-based delivery model is at its nascent stage; however, this model is expected to grow rapidly in the coming years. The advantages offered by cloud-based precision farming software are data sharing, ability to access systems on a variety of devices from any location that has Internet service, optimized performance, and ease of access.

“Yield monitoring application held the largest share of the precision farming software market in 2015”

Yield monitoring is the most widely used application in precision farming software, as this application plays a vital role in understanding the field variability and helps farmers in maximizing their yields. Soil monitoring is the major application of yield monitoring. Soil monitoring is used to detect soil parameters that are needed for an efficient yield production.

“Precision farming software market in Asia-Pacific expected to grow at the highest rate between 2016 and 2022”

Asia-Pacific (APAC) is one of the bright prospective markets in precision farming software. APAC has large farmlands and a high population growth rate. APAC has a huge regional spread which comprises countries such as China, Japan, India, Australia, South Korea, and Rest of APAC. Precision farming software market in APAC is in its initial stages of adoption and expected to grow at a double-digit rate between 2016 and 2022. Currently, the countries in the APAC region, specifically India, Australia, China, and Japan have the highest growth rate and highest share in the precision farming software market.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key experts. The breakup of the profiles of primary participants is as follows:

By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 –25%
By Designation: C-Level Executives – 75% and Managers – 25%
By Geography: Americas – 40%, Europe – 30%, APAC – 20%, and RoW – 10%

Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.

The key players in the precision farming software market profiled in the report are as follows:

Deere & Company (U.S.)
Trimble, Inc. (U.S.)
AgJunction, Inc. (U.S.)
Raven Industries, Inc. (U.S.)
AG Leader Technology (U.S.)
SST Development Group, Inc. (U.S.)
DICKEY-john Corporation (U.S.)
Topcon Positioning Systems, Inc. (U.S.)
The Climate Corporation (U.S.)
Iteris, Inc. (U.S.)
Conservis Corp. (U.S.)
Farmers Edge, Inc. (Canada)

Research Coverage

This report covers the precision farming software market based on delivery model, application, services, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations associated with the precision farming market.

Key Benefits of Buying the Report

The report would help the market leaders or new entrants in the following ways:

This report segments the overall market comprehensively and provides the closest approximations of the overall precision farming software market size and that of the sub segments across different applications and regions.
The report helps stakeholders to understand the pulse of the market and provides them with information on the key drivers, restraints, challenges, and opportunities in the precision farming software market.
This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the precision farming software market. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the precision farming software market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Data From Primary Sources
2.2 Secondary and Primary Research
2.2.1 Key Industry Insights
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
2.3.2 Top-Down Approach
2.3.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
2.5.1 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Precision Farming Software Market During the Forecast Period
4.2 Precision Farming Software Market in Asia-Pacific (APAC)
4.3 Precision Farming Software Market, By Delivery Model
4.4 Country-Wise Analysis of Precision Farming Software Market
4.5 Life Cycle Analysis

5 Market Overview
5.1 Introduction
5.2 Segmentation of the Precision Farming Software Market
5.2.1 By Delivery Model
5.2.2 By Application
5.2.3 By Service Provider
5.2.4 By Geography
5.3 Market Evolution: Precision Farming Software Market
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increasing Need of Real-Time Data Management Through Cloud Computing
5.4.1.2 Government’s Support to Adopt Modern Agricultural Techniques
5.4.1.3 Strengthening of Intellectual Property Rights Over Agricultural Innovations
5.4.1.4 Integration of Mobile Technology With Farming Techniques
5.4.1.5 Increasing Use of Agricultural Software for Maintaining Farm Efficiency
5.4.2 Restraints
5.4.2.1 High Initial Capital Investment
5.4.3 Opportunities
5.4.3.1 Integration of Smartphone With Agriculture Hardware and Software Applications
5.4.3.2 High Speed Internet Connectivity
5.4.4 Challenges
5.4.4.1 Management of Data for Productive Decision Making
5.4.4.2 Lack of Standardization in the Precision Farming Industry
5.4.4.3 Dearth of Technical Acumen
5.4.5 Winning Imperative
5.4.5.1 Sensing Technology for Smart Farming

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Technology Roadmap
6.3.1 Key Industry Trends
6.3.1.1 Privacy and Security Principles for Farm Data
6.3.1.2 Big Data Presents Lucrative Opportunity for Farm Data Analytics
6.3.1.3 Advance Sensing Technology That Supports Software Technology
6.3.1.4 Pervasive Automation Leading to Large Scale Adoption of Precision Farming Software
6.3.1.5 Mobile Computing Shaping Precision Farming Software Market
6.4 Mergers and Acquisitions and Venture Funding in the Precision Farming Software Market
6.4.1 Mergers and Acquisitions of Software-Based Precision Farming Companies, 2010–2016
6.4.2 Venture Funding and Investments in Software-Based Precision Farming Companies, 2013–2016
6.5 Porter’s Five Forces Analysis
6.5.1 Intensity of Competitive Rivalry
6.5.2 Threat of Substitutes
6.5.3 Bargaining Power of Buyers
6.5.4 Bargaining Power of Suppliers
6.5.5 Threat of New Entrants

7 Precision Farming Software Market, By Delivery Model
7.1 Introduction
7.2 Local/Web-Based
7.3 Cloud-Based
7.3.1 Software as A Service (SaaS)
7.3.2 Platform as A Service (PaaS)

8 Precision Farming Software Market, By Application
8.1 Introduction
8.2 Yield Monitoring
8.3 Field Mapping
8.4 Crop Scouting
8.5 Weather Tracking and Forecasting
8.6 Irrigation Management
8.7 Inventory Management
8.8 Farm Labor Management
8.9 Financial Management
8.10 Others

9 Precision Farming Software Market, By Service Provider
9.1 Introduction
9.2 System Integrators
9.3 Managed Services Providers
9.3.1 Farm Operation Services
9.3.2 Data Services
9.3.3 Analytics Services
9.4 Connectivity Services Providers
9.5 Assisted Professional Services Providers
9.5.1 Supply Chain Management Services
9.5.2 Climate Information Services
9.5.3 Others
9.6 Maintenance, Software Upgradation, and Support Services Providers

10 Geographic Analysis
10.1 Introduction
10.2 Americas
10.2.1 North America
10.2.1.1 Presence of Major Companies and High Adoption Rate of Precision Farming Software in the Region
10.2.1.2 U.S.
10.2.1.3 Canada
10.2.1.4 Mexico
10.2.2 South America
10.2.2.1 Practice of Extensive Agriculture in Emerging Countries Such as Brazil is Driving the Growth of the Precision Farming Software Market in South America
10.2.2.2 Brazil
10.2.2.3 Argentina
10.2.2.4 Rest of South America
10.3 Europe
10.3.1 Increasing Supporting Infrastructure for Precision Farming Software in Europe is Fueling the Growth of This Market
10.3.2 Germany
10.3.3 U.K.
10.3.4 France
10.3.5 Italy
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Increasing Government Support and Availability of Large Farmlands Driving the Growth of Precision Farming Software Market in the APAC Region
10.4.2 China
10.4.3 Japan
10.4.4 Australia
10.4.5 India
10.4.6 South Korea
10.4.7 Rest of APAC
10.5 Rest of World
10.5.1 Presence of Technologically-Advanced Countries Such as Israel and South Africa is Driving the Growth of the Precision Farming Software Market
10.5.2 Africa
10.5.2.1 South Africa
10.5.3 Middle East
10.5.4 Russia

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis for the Precision Farming Software Market, 2015
11.3 Competitive Situation and Trends
11.4 Startup Scenario
11.4.1 List of Major Startups
11.5 Recent Developments
11.5.1 New Product Launches
11.5.2 Agreements, Partnerships, and Contracts
11.5.3 Mergers and Acquisitions

12 Company Profiles
12.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
12.2 Deere & Company
12.3 Trimble Inc
12.4 Agjunction, Inc.
12.5 SST Development Group Inc.
12.6 Iteris, Inc.
12.7 Raven Industries Inc.
12.8 AG Leader Technology
12.9 Conservis Corporation
12.10 Dickey-John Corporation
12.11 Farmers Edge Inc.
12.12 The Climate Corporation
12.13 Topcon Positioning Systems, Inc.
12.14 Key Innovators
12.15 Granular, Inc.
12.16 Aururas S.R.L
12.17 Grownetics, Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Insights From Industry Experts
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customization
13.5 Related Reports
13.6 Author Details

List of Tables

Table 1 Porter’s Five Forces Analysis: Threat of New Entrants Had the Maximum Impact on the Overall Precision Farming Software Market in 2015
Table 2 Precision Farming Market, By Offering, 2013–2022 (USD Million)
Table 3 Precision Farming Software Market, By Delivery Model, 2013–2022 (USD Million)
Table 4 Precision Farming Software Market for Local/Web-Based Delivery Model, By Region, 2013–2022 (USD Million)
Table 5 Precision Farming Software Market for Local/Web-Based Delivery Model, By Application, 2013–2022 (USD Million)
Table 6 Precision Farming Software Market for Local/Web-Based Delivery Model, By Service Provider, 2013–2022 (USD Million)
Table 7 Precision Farming Software Market for Cloud-Based Delivery Model, By Region, 2013–2022 (USD Million)
Table 8 Precision Farming Software Market for Cloud-Based Delivery Model, By Application, 2013–2022 (USD Million)
Table 9 Precision Farming Software Market for Cloud-Based Delivery Model, By Service Provider, 2013–2022 (USD Million)
Table 10 Precision Farming Software Market for Cloud-Based Delivery Model, By Type, 2013–2022 (USD Million)
Table 11 Precision Farming Software Market for Software as A Service (SaaS), By Region, 2013–2022 (USD Million)
Table 12 Precision Farming Software Market for Platform as A Service (PaaS), By Region, 2013–2022 (USD Million)
Table 13 Precision Farming Software Market, By Application, 2013–2022 (USD Million)
Table 14 Precision Farming Software Market for Yield Monitoring Application, By Region, 2013–2022 (USD Million)
Table 15 Precision Farming Software Market for Yield Monitoring Application, By Delivery Model, 2013–2022 (USD Million)
Table 16 Precision Farming Software Market for Field Mapping Application, By Region, 2013–2022 (USD Million)
Table 17 Precision Farming Software Market for Field Mapping Application, By Delivery Model, 2013–2022 (USD Million)
Table 18 Precision Farming Software Market for Crop Scouting Application, By Region, 2013–2022 (USD Million)
Table 19 Precision Farming Software Market for Crop Scouting Application, By Delivery Model, 2013–2022 (USD Million)
Table 20 Precision Farming Software Market for Weather Tracking and Forecasting Application, By Region, 2013–2022 (USD Million)
Table 21 Precision Farming Software Market for Weather Tracking and Forecasting Application, By Delivery Model, 2013–2022 (USD Million)
Table 22 Precision Farming Software Market for Irrigation Management Application, By Region, 2013–2022 (USD Million)
Table 23 Precision Farming Software Market for Irrigation Management Application, By Delivery Model, 2013–2022 (USD Million)
Table 24 Precision Farming Software Market for Inventory Management Application, By Region, 2013–2022 (USD Million)
Table 25 Precision Farming Software Market for Inventory Management Application, By Delivery Model, 2013–2022 (USD Million)
Table 26 Precision Farming Software Market for Farm Labor Management Application, By Region, 2013–2022 (USD Million)
Table 27 Precision Farming Software Market for Farm Labor Management Application, By Delivery Model, 2013–2022 (USD Million)
Table 28 Precision Farming Software Market for Financial Management Application, By Region, 2013–2022 (USD Million)
Table 29 Precision Farming Software Market for Financial Management Application, By Delivery Model, 2013–2022 (USD Million)
Table 30 Precision Farming Software Market for Other Applications, By Region, 2013–2022 (USD Million)
Table 31 Precision Farming Software Market for Other Applications, By Delivery Model, 2013–2022 (USD Million)
Table 32 Precision Farming Software Market, By Service Provider, 2013–2022 (USD Million)
Table 33 Precision Farming Software Market for System Integrators, By Region, 2013–2022 (USD Million)
Table 34 Precision Farming Software Market for System Integrators, By Delivery Model, 2013–2022 (USD Million)
Table 35 Precision Farming Software Market for Managed Services Providers, By Region, 2013–2022 (USD Million)
Table 36 Precision Farming Software Market for Managed Services Providers, By Delivery Model, 2013–2022 (USD Million)
Table 37 Precision Farming Software Market for Connectivity Services Providers, By Region, 2013–2022 (USD Million)
Table 38 Precision Farming Software Market for Connectivity Services Providers, By Delivery Model, 2013–2022 (USD Million)
Table 39 Precision Farming Software Market for Assisted Professional Services Providers, By Region, 2013–2022 (USD Million)
Table 40 Precision Farming Software Market for Assisted Professional Services Providers, By Delivery Model, 2013–2022 (USD Million)
Table 41 Precision Farming Software Market for Maintenance, Software Upgradation, and Support Services Providers, By Region, 2013–2022 (USD Million)
Table 42 Precision Farming Software Market for Maintenance, Software Upgradation, and Support Services Providers, By Delivery Model, 2013–2022 (USD Million)
Table 43 Precision Farming Software Market, By Region, 2013–2022 (USD Million)
Table 44 Precision Farming Software Market in the Americas, By Delivery Model, 2013–2022 (USD Million)
Table 45 Precision Farming Software Market in the Americas, By Application, 2013–2022 (USD Million)
Table 46 Precision Farming Software Market in the Americas, By Region, 2013–2022 (USD Million)
Table 47 Precision Farming Software Market in North America, By Delivery Model, 2013–2022 (USD Million)
Table 48 Precision Farming Software Market in North America, By Application, 2013–2022 (USD Million)
Table 49 Precision Farming Software Market in North America, By Country, 2013–2022 (USD Million)
Table 50 Precision Farming Software Market in South America, By Delivery Model, 2013–2022 (USD Million)
Table 51 Precision Farming Software Market in South America, By Application, 2013–2022 (USD Million)
Table 52 Precision Farming Software Market in South America, By Country, 2013–2022 (USD Million)
Table 53 Precision Farming Software Market in Europe, By Delivery Model, 2013–2022 (USD Million)
Table 54 Precision Farming Software Market in Europe, By Application, 2013–2022 (USD Million)
Table 55 Precision Farming Software Market in Europe, By Country, 2013–2022 (USD Million)
Table 56 Precision Farming Software Market in APAC, By Delivery Model, 2013–2022 (USD Million)
Table 57 Precision Farming Software Market in APAC, By Application, 2013–2022 (USD Million)
Table 58 Precision Farming Software Market in APAC, By Country, 2013–2022 (USD Million)
Table 59 Precision Farming Software Market in RoW, By Delivery Model, 2013–2022 (USD Million)
Table 60 Precision Farming Software Market in RoW, By Application, 2013–2022 (USD Million)
Table 61 Precision Farming Software Market in RoW, By Region, 2013–2022 (USD Million)
Table 62 Market Ranking of the Top 5 Players in the Precision Farming Software Market, 2015
Table 63 List of Major Precision Agriculture Software and Services Startups
Table 64 New Product Launches, 2013–2016
Table 65 Agreements, Partnerships, and Contracts, 2013–2016
Table 66 Mergers and Acquisitions, 2013–2016

List of Figures

Figure 1 Precision Farming Software Market: Segmentation
Figure 2 Precision Farming Software Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Local Or Web-Based Software Held the Largest Share in the Precision Farming Software Market in 2015
Figure 7 Precision Farming Software Market for Managed Services Providers Projected to Grow at the Highest Rate Between 2016 and 2022
Figure 8 Yield Monitoring Application Held the Major Share of the Precision Farming Software Market in 2015
Figure 9 Precision Farming Software Market in the Americas Held the Largest Share in 2015
Figure 10 Increasing Need of Real-Time Data Management Through Cloud Computing is Expected to Drive the Precision Farming Software Market During the Forecast Period
Figure 11 Australia Held the Largest Share of the Precision Farming Software Market in APAC in 2015
Figure 12 Cloud-Based Model of Precision Farming Software Market Projected to Grow at the Highest Rate Between 2016 and 2022
Figure 13 U.S. Held the Largest Share of the Precision Farming Software Market in 2015
Figure 14 The Overall Life Cycle for Precision Farming Software Expected to Be Long and Steadily Growing
Figure 15 Precision Farming Software Market, By Geography
Figure 16 Driver, Restraints, Opportunities, and Challenges of the Precision Farming Software Market
Figure 17 Cloud-Based vs On-Premise Deployment of Software, 2013–2018
Figure 18 Factors for Not Using Precision Farming Techniques in the U.K., 2012
Figure 19 Global Mobile Subscriber Base, 2009–2016 (USD Million)
Figure 20 Precision Farming Software Market: Value Chain Analysis
Figure 21 Porter’s Five Forces Analysis, 2015
Figure 22 Precision Farming Software Market: Porter’s Five Forces Analysis, 2015
Figure 23 High Impact of the Intensity of Competitive Rivalry on the Precision Farming Software Market
Figure 24 Low Impact of the Threat of Substitutes on the Precision Farming Software Market
Figure 25 Medium Impact of the Bargaining Power of Buyers on the Precision Farming Software Market
Figure 26 Medium Impact of the Bargaining Power of Suppliers on the Precision Farming Software Market
Figure 27 High Impact of the Threat of New Entrants on the Precision Farming Software Market
Figure 28 Precision Farming Software Market, By Delivery Model
Figure 29 Cloud-Based Delivery Model Expected to Grow at the Highest Rate in the Precision Farming Software Market Between 2016 and 2022
Figure 30 Yield Monitoring Application is Expected to Hold the Largest Share of the Precision Farming Software Market for Local/Web-Based Delivery Model Between 2016 and 2022
Figure 31 Precision Farming Software Market in Asia-Pacific for Cloud-Based Delivery Model is Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 32 Software as A Service (SaaS) Held the Largest Share of the Cloud-Based Delivery Model in 2016
Figure 33 Precision Farming Software Market, By Application
Figure 34 Weather Tracking and Forecasting Application Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 35 Cloud-Based Delivery Model in the Yield Monitoring Application is Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 36 Asia-Pacific Expected to Grow at the Highest Rate for the Crop Scouting Application Between 2016 and 2022
Figure 37 Cloud-Based Delivery Model is Expected to Hold the Largest Share for the Weather Tracking & Forecasting Application Between 2016 and 2022
Figure 38 Asia-Pacific Expected to Grow at the Highest Rate for the Farm Labor Management Application Between 2016 and 2022
Figure 39 Cloud-Based Delivery Model in the Financial Management Application is Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 40 Precision Farming Software Market, By Service Provider
Figure 41 Precision Farming Software Market for Managed Services Providers is Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 42 The Americas is Expected to Hold the Largest Share in the Precision Farming Software Market for Managed Services Providers Between 2016 and 2022
Figure 43 Asia-Pacific is Expected to Grow at the Highest Rate in the Precision Farming Software Market for Assisted Professional Services Providers Between 2016 and 2022
Figure 44 Precision Farming Software Market, By Geography
Figure 45 Precision Farming Software Market: Geographic Snapshot
Figure 46 Overview of the Precision Farming Software Market in the Americas
Figure 47 U.S. Expected to Hold the Largest Share of the Precision Farming Software Market in North America Between 2016 and 2022
Figure 48 Argentina Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 49 Overview of the Precision Farming Software Market in Europe
Figure 50 Germany is Expected to Hold the Largest Share of the Precision Farming Software Market in Europe in 2016
Figure 51 Overview of the Precision Farming Software Market in Asia-Pacific
Figure 52 China Expected to Grow at the Highest Rate in APAC Between 2016 and 2022
Figure 53 Russia Held the Largest Share of the Precision Farming Software Market in RoW Region in 2016
Figure 54 New Product Launches: the Key Strategy Adopted By the Key Players Between 2013 and 2016
Figure 55 Precision Farming Software Market Evaluation Framework
Figure 56 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 57 Geographic Revenue Mix of Major Market Players
Figure 58 Deere & Company: Company Snapshot
Figure 59 Deere & Company: SWOT Analysis
Figure 60 Trimble Inc. : Company Snapshot
Figure 61 Trimble Inc. : SWOT Analysis
Figure 62 Agjunction, Inc: Company Snapshot
Figure 63 Agjunction, Inc.: SWOT Analysis
Figure 64 SST Development Group, Inc : SWOT Analysis
Figure 65 Iteris Inc : Company Snapshot
Figure 66 Iteris, Inc : SWOT Analysis
Figure 67 Raven Industries: Company Snapshot

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