With rapid technological development in farming practices in the last decade, the global agriculture industry has transformed immensely, largely characterized by modern farming practices, owing to the implementation of smart farming solutions. Such solutions include geographic information systems (GIS) that make farming profitable by focusing on site-specific planning. The mainstay of this transformative trend is attributed to key factors such as rising global population, high-income growth, shrinking arable lands, and increasing shortage of manual labor in agriculture. The growing support from government bodies globally has boosted the development of GIS solutions, thus leading to growing adoption levels of the GIS software solutions offered by players in the market. Driven by this change, numerous private players have customized their business models to suit the industry and provide the customers with flexibility to apply the GIS technology in farming practices. As a result, the adoption of GIS software in agriculture industry is anticipated to progress due to the ever-growing affinity for more convenient solutions than the traditional methods in agriculture.
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To address the rising demand for food from the limited agricultural land and labor available, technology providers are introducing innovative solutions in the farming arena. The application of Global Navigation Satellite Systems (GNSS) provides high quality imagery to farmers and helps them assess their farmlands. A fairly new technology that interprets, analyzes, and helps farmers take smart farming decisions is Geographic Information System (GIS). This system helps farmers capture, store, manipulate, analyze, manage, and present spatial or geographic data for their farms.
The trend of GIS software in agricultural industry is not only prevalent in developed countries, but developing countries are also gradually realizing its importance. Governments of several countries have also realized the need and advantages of these technologies, and thus their initiatives to promote these smart farming techniques are expected to further drive the growth of the market.
Though, the application of GIS software in agriculture renders good results for farmers, leading to profitability in the business, the applications also face a few restraints. Since farmer incomes globally are not very high, the cost associated with the subscription of GIS software solutions often overpowers the benefits. The adoption of this technology may be high in the developed nations, it is at a fairly nascent stage in developing countries, especially Asia-Pacific Japan and Middle East Africa.
With rapid market penetration of IoT technology and cloud computing in agriculture, there has been enhancement of agricultural productivity by minimizing manual labor and providing an efficient platform for proper data management of farms. This has resulted in widespread implementation of cloud-based GIS software solutions which helped farmers to reduce the risks in farming and increase overall yield levels.
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The competitive landscape for the GIS software in agriculture market demonstrates an inclination toward companies adopting strategies such as product launches along with partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., and Oracle Corporation, among others, are some of the prominent players in the GIS software in agriculture market. The market is highly fragmented with the presence of many small- to medium-sized companies that compete with each other and the large enterprises.
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