Farm Management Software Market to Reach USD 4.07 Bn by 2022, Says MarketsandMarkets in Its New Study Available at MarketPublishers.com26 Jul 2016 • by Natalie Aster
LONDON – The value of the world’s market for farm management software stood at around USD 1.14 billion in the past year. It is expected to grow at a 17.2% CAGR up to 2022 and by the end of forecast period will likely touch USD 4.07 billion.
Major farm management software market growth drivers include, among others, rising global demand for food, favourable government initiatives, expanding adoption of modern agricultural techniques, enhancing penetration of cloud computing in farm data management.
Record keeping forms the biggest application sector for farming software. In the past year, the value of the record keeping sector stood at approximately USD 329.2 million. Furthermore, the value of this sector is anticipated to grow at a 14% CAGR through 2022.
The farm management software market in the Asia-Pacific region will likely continue gaining traction in the offing, driven by ongoing agricultural developments along with increased governmental expenditure. China and India offer lucrative opportunities to farm management software market players. The Asia-Pacific region ranks the most-rapidly growing regional market for farm management software. Such country-wide markets like Japan, China, India, Australia and New Zealand are the main contributors to the regional market growth.
New report “Farm Management Software Market” prepared by MarketsandMarkets offers deep insights into the world’s market for farm management software. It explores major market trends, examines key factors influencing the market development, identifies the best growth opportunities and lucrative market sectors. The research study describes the regulative environment, delves into the competitive landscape and gives data on the top players. Additionally, future forecasts through 2022 are provided.
More reports by this publisher are provided in this Market Publishers’ catalogue.