What Is The Definition Of The Global Agricultural Software Market?
Agricultural software refers to digital tools and applications designed to support and optimize various aspects of farming and agricultural activities. These software solutions encompass a wide range of functionalities to improve agricultural operations' efficiency, productivity, and sustainability.
Agricultural Software Global Market Report 2024 provides data on the global agricultural software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Agricultural Software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Agricultural Software Market Size Expected To Expand, And At What Annual Growth Rate?
The agricultural software market has grown steadily, expanding from $21.68 billion in 2023 to $22.63 billion in 2024 at a CAGR of 4.4%, supported by rising food demand, urbanization, government subsidies, and increased farm size and complexity. Forecasted to grow to $27.20 billion by 2028 at a CAGR of 4.7%, growth will be driven by sustainable agriculture demand, productivity improvements, and population growth. Key trends include adoption of smart agricultural systems, cloud-based solutions, AI advancements, and increased technology investments.
What Are The Key Drivers Fueling Growth In The Agricultural Software Market?
The growing demand for food is poised to drive the expansion of the agricultural software market. This demand is influenced by factors such as population growth, changing dietary preferences, economic development, and lifestyle changes. Agricultural software improves productivity, efficiency, and sustainability in farming to meet the global food demand. The Food and Agriculture Organization (FAO) projects that by 2050, food production will need to increase by 60% to feed a global population of 9.3 billion. Consequently, the rising demand for food is fueling the growth of the agricultural software market.
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What Are The Principal Market Segments In The Global Agricultural Software Industry?
The agricultural software market covered in this report is segmented –
1) By Type: Farm Management, Livestock Management, Precision Agriculture Software, Other Types
2) By Deployment: On-Premise, Cloud-Based
3) By Application: Field Management, Farming Operation, Irrigation, Animal Husbandry
4) By End-User: Farmers, Agricultural Companies, Research Institutes
Which Emerging Market Trends Are Altering The Agricultural Software Sector?
Major companies in the agricultural software market are concentrating on developing advanced solutions, such as data visualization and mapping tools, to boost farmers' yields and assist governments in addressing food security concerns. Data visualization and mapping solutions are software tools that visually represent and analyze data through maps, charts, graphs, and other graphical elements. For example, in August 2022, OneSoil, a Switzerland-based agriculture software provider, introduced OneSoil Map, an advanced data visualization and mapping solution. This tool combines proprietary AI with satellite imagery to provide live data and in-depth insights into crop conditions globally. It aids farmers in remotely monitoring crops, swiftly identifying field issues, and managing productivity zones, enhancing precision farming and addressing food security challenges, especially in areas prone to environmental disasters. Thus, OneSoil's solutions are valuable for optimizing agricultural practices.
What Is The Leading Region In The Agricultural Software Market?
North America was the largest region in the agricultural software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agricultural software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
