Agricultural Software Global Market Report 2024

The agricultural software market size has grown steadily in recent years. It will grow from $21.68 billion in 2023 to $22.63 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth witnessed in the historic period can be ascribed to several factors, including heightened food demand, increased agricultural product demand, governmental subsidies and support, rising urbanization, and the expansion of farm size and complexity.

The agricultural software market size is expected to see steady growth in the next few years. It will grow to $27.2 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth anticipated in the forecast period can be linked to the expansion of the agriculture sector, a burgeoning population, escalating demand for sustainable agricultural practices, enhanced productivity and efficiency, and an increasing demand for livestock products. Noteworthy trends expected in the forecast period encompass the rising demand for advanced farming solutions, the uptake of cloud-based agricultural software, the adoption of smart agriculture systems, investments in agricultural technology, and advancements in artificial intelligence.

The agricultural software market is expected to witness significant growth driven by the increasing demand for food worldwide. Factors such as population growth, changing dietary preferences, economic development, and evolving lifestyles contribute to this demand. To meet the needs of a projected global population of 9.3 billion by 2050, food production must increase by 60%, as indicated by the Food and Agriculture Organization (FAO). In response, agricultural software solutions are being developed to enhance farming productivity, efficiency, and sustainability, ultimately addressing food security challenges.

Key players in the agricultural software market are focusing on advanced solutions such as data visualization and mapping tools to assist farmers in optimizing yields and governments in ensuring food security. These solutions leverage AI and satellite imagery to provide real-time data and insights into crop conditions worldwide. For example, OneSoil, a Switzerland-based company, launched OneSoil Map in August 2022. This tool empowers farmers to remotely monitor crop health, detect field issues, and manage productivity zones efficiently, contributing to precision farming practices. By leveraging such solutions, farmers can strategically allocate resources, minimize environmental impact, and mitigate food security challenges, particularly in regions susceptible to natural disasters such as droughts and floods.

In January 2024, Ever.Ag, a US-based agricultural technology company, acquired PrairiE Systems to further its commitment to enhancing the food supply chain. PrairiE Systems specializes in agriculture software, particularly feed management software, complementing Ever.Ag's offerings across various sectors of agribusiness, notably animal protein production. This acquisition demonstrates Ever.Ag's dedication to providing comprehensive solutions that add value to the agriculture industry.

Major companies operating in the agricultural software market are Bayer AG, Deere & Company, CNH Industrial N.V., Hexagon Agriculture, Trimble Inc., Raven Industries Inc., The Climate Corporation, Iteris Inc., Solinftec Inc., Granular Inc., Proagrica, AG Leader Technology, CropIn Technology Solutions Pvt. Ltd., AgroVision B.V., Farmers Edge Inc., Decisive Farming Corp., Agworld Inc., CropX Inc., Topcon Agriculture, Conservis Corporation, FarmLogs Inc., AgJunction Inc., AgriWebb Pty Ltd., FieldView, OnFarm Systems Inc.

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.

The countries covered in the agricultural software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Agricultural software comprises digital tools and applications crafted to enhance and streamline diverse farming and agricultural tasks. These software solutions offer a broad spectrum of features aimed at enhancing the efficiency, productivity, and sustainability of agricultural operations.

The primary categories of agricultural software include farm management, livestock management, precision agriculture software, and others. Farm management involves the planning, organization, and control of agricultural production activities and resources to meet the farm's objectives. These solutions can be deployed on-premise or through cloud-based platforms. They find applications in field management, farming operations, irrigation, and animal husbandry, catering to a range of end-users such as farmers, agricultural companies, and research institutes.

The agriculture software market research report is one of a series of new reports that provides agriculture software market statistics, including agriculture software industry global market size, regional shares, competitors with an agriculture software market share, detailed agriculture software market segments, market trends, and opportunities, and any further data you may need to thrive in the agriculture software industry. This agriculture software research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The agricultural software market consists of revenues earned by entities by providing supply chain and traceability services, consulting services, implementation services, and sustainability and compliance management. The market value includes the value of related goods sold by the service provider or included within the service offering. The agricultural software market also includes sales of precision agriculture tools, sensor, monitoring tools and accounting tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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