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Market Research Report
Product code
958705
Precision Farming Software |
Precision Farming Software |
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 182 Pages
Delivery time: 1-2 business days
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Abstract:
Global Precision Farming Software Market to Reach $1.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Precision Farming Software estimated at US$762.9 Million in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2027, growing at aCAGR of 13.4% over the period 2020-2027. Local/Web-Based, one of the segments analyzed in the report, is projected to record 11% CAGR and reach US$1.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud-Based segment is readjusted to a revised 18.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $225 Million, While China is Forecast to Grow at 12.9% CAGR
The Precision Farming Software market in the U.S. is estimated at US$225 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$323 Million by the year 2027 trailing a CAGR of 13% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.8% and 11.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR.
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