The size of Geographic Information System (GIS) software in the agriculture market across the world reached USD 4.04 billion in 2020. According to the latest research and analysis by Emergen Research, the software is likely to register a revenue CAGR of 12.8 percent during the forecast period.
The increasing need for precision farming (use of information technology to ensure the health and productivity of crops) and growing awareness about the risks associated with food insecurity are both essential factors predicted to support the market revenue growth between 2021 and 2028. Further, the growing demand for Geographic Information System (GIS) software in the agriculture market for real-time mapping will boost revenue growth.
The problems faced in agriculture are poor soil quality and unplanned cultivation, resulting in expensive processes. However, GIS software can aid in addressing the issues faced in agriculture by providing a precise prediction of precipitation, temperature, and crop output in advance through regular examination of land resources.
GIS devices installed with sensors are capable of acquiring data. Several sensors installed on one device can collect data from various processes and operations in the field. The GIS devices consist of multiple sensors connected to components like satellites, cameras, global positioning systems, etc. Thus, farmers and landowners can access important insights through precise and reliable data. This can also help them make correct decisions.
The analysis by Emergen Research offers information about market share, revenue growth, market size, and CAGR during the forecast period. It also provides crucial insights into the top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and viability analysis to offer a competitive edge to the readers. The research focuses on the latest trends, issues and opportunities, and limitations pertaining to the ongoing pandemic.
Other important insights from the research suggest that:
On-Cloud Segment is likely to register a rapid revenue CAGR during the forecast period due to the growing need for real-time geospatial data. On-cloud GIS software enables farmers and land owners to gather real-time data on the land from any place at any given time.
Crop Monitoring Segment is likely to register a strong revenue growth rate over the forecast period due to the increasing need for crop stress data. Crop stress data include extreme temperatures, lack of nutrients, poor water quality, excess use of chemicals, etc.
Asia Pacific Market is likely to register a large revenue share over the forecast period due to the presence of major market players providing GIS software, such as SuperMap Software Co. Ltd. and others.
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