Informative Report on GIS Software in Agriculture Market | Bis Research

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As the world population stood at 7.7 billion in 2019, the pressure on the food and agriculture value chain to meet the global food demand is increasing with every passing day. With limited and continuously depleting natural resources and shrinking arable land due to urbanization, the need to optimize farm resources in order to produce agricultural commodities optimally is rising day by day.

In 2019, only 28.10% of the total employed population were working in the agricultural sectors. In comparison to 2000, the share has fallen drastically from the figure of 40.06%. To combat the problems related to rising food demand, leading technology providers are introducing innovative solutions in the farming arena. Technologies such as Geographic Information System (GIS) and Global Navigation Satellite Systems (GNSS) help farmers interpret, analyze, and assess data to make smart farming decisions.

Read Report Overview: GIS Software in Agriculture Market

In our recently conducted industry analysis, the global GIS software in agriculture industry is projected to cater to a market revenue of $2.57 billion in 2024 as compared to $1.44 billion generated in 2018 while growing at a CAGR of 10.41 during the forecast period 2019-2024. The growing need to elevate farm produce
has resulted in awareness among governments worldwide, which has contributed to the growth of this market. The massive usage of this technology also aims at solving the rising concerns over global food security, resulting in intensive investments from governments and stakeholders globally.

Some of the prominent players in the GIS software in agriculture market include ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., and Oracle Corporation, among others. In order to create public awareness about their existing and new products and compete with their competitor’s product portfolio, key market players have ramped up their product launch activities in recent years. For instance, in 2019, Hexagon AB launched GeoMedia, which is an on-cloud GIS software solution for precision agriculture.

Market Segmentation by Application

Out of all the applications, crop monitoring applications occupy most of the market share in the global market for GIS software in agriculture market. The application areas of GIS software solutions in agriculture cover a wide range of farm assessment aspects, including irrigation, field monitoring, soil mapping, yield forecasting, plant health management, and data management. The irrigation sector represents the most significant application market for GIS software in agriculture technologies.

Market Segmentation by Region

North America region holds the most prominent market share for the GIS software in agriculture market globally and generated the highest revenue of $432.3 million in 2018. Although North America and the European region hold a major market share, other developing regions such as Japan, Middle East Africa, and South America are witnessing massive opportunities day by day. During the forecast period, the European market for GIS software in agriculture is expected to witness a CAGR of 9.33%.

Growing Need for Precision Farming

As traditional farming approaches are being replaced with technological solutions, precision farming solutions are supporting farmers in field monitoring, plant health management, soil mapping, and smart irrigation, among others. The use of GIS software helps farmers capture, store, manipulate, analyze, manage, and present spatial or geographic data for their farms.

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Key Questions Answered in this Report:

• What is the expected global GIS software in agriculture market size in terms of value during the period 2018-2024?
• What is the expected future scenario and revenue generated by the different types of solutions such as on-premise and on-cloud software, for GIS software in agriculture?
• What is the expected future scenario and revenue generated by the GIS software in agriculture for different applications in farming including crop monitoring, soil analysis, and irrigation monitoring, among others?
• Which geographical region is the largest market for global GIS software in agriculture market?
• What is the expected future scenario and the revenue generated by different geographical regions and countries such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan in the global GIS software in agriculture market?
• What is the expected future scenario and revenue generated by different applications of GIS software in agriculture in different regions such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan?
• What is the competitive strength of the key players in the GIS software in agriculture on the basis of the analysis of their recent developments, product offerings, and regional presence?
• What are the emerging trends in global GIS software in agriculture market?
• How is the adoption scenario, related opportunities and challenges associated with GIS software in agriculture?
• What are the market dynamics of the global GIS software in agriculture market including market drivers, restraints, and opportunities?
• What will be the major market driving trends for GIS software in agriculture in terms of business model, market consolidation, and new product offerings?