Horse Software Market Size, Share, Growth, and Industry Analysis, By Type (Cloud Based, On-Premise and Others), By Application (Large Enterprises, Small and Medium-sized Enterprises (SMEs) and Others), Regional Insights and Forecast to 2032

Updated On: 22 April 2024

HORSE SOFTWARE MARKET REPORT OVERVIEW

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global horse software market size was USD 165.8 million in 2021 and market is projected to touch USD 430.11 million by 2032 at CAGR 9.05% during the forecast period.

Over the next eight years, this market is anticipated to develop at a rapid pace due to the increased demand for horse management software and the growing use of cloud-based software solutions. Horse racing management systems, or horse software, are created to assist horse racing operators in their day-to-day business operations. With the use of this software, users may manage their gamers and clients on a gamified platform that offers cashback and membership management. A sophisticated piece of software called Horse allows business processes to be planned, carried out, and tracked. It assists in overseeing a product or service's whole life cycle. The application of the program enhances customer satisfaction, operational effectiveness, and strategic decision-making. Horse Software is available as on-premises or cloud-based solutions.

COVID-19 Impact: Pandemic Driven Remote Operations and Digital Transformation Shooted Up the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic hastened the introduction of digital technologies in a number of sectors. Businesses in the equestrian industry who adopted technology, notably equine software, may have found it simpler to handle operations from a distance and adjust to changing conditions. A greater emphasis on health and safety may lead to a rise in interest in horse software that helps with veterinarian care, health monitoring, and the general well-being of horses.

LATEST TRENDS

"Cloud Integration with Wearable Technology and AI to Build Up the Market Share"

Cloud-based solutions and mobile apps are becoming more and more popular. Users may easily and flexibly access data from several places using horse software that integrates with the cloud and is mobile friendly. An emerging trend is the combination of wearable technology and Internet of Things (IoT) devices for horses. This includes gadgets that detect mobility, keep an eye on health parameters, and deliver real-time data for improved health management. An emerging trend is the application of artificial intelligence (AI) to training initiatives. AI is capable of analyzing training data, seeing trends, and offering ideas to enhance methods of training for riders and horses alike.

HORSE SOFTWARE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into cloud-based, on-premise and others.

Cloud-based: Software that stores data and applications on an external server, or "cloud," as opposed to local computers is referred to as cloud-based software. One of the many advantages of cloud-based equine software is that it enables businesses to access their data and applications from any location in the world as long as they have an internet connection. As a result, workers may work remotely or while on the road without losing access to crucial documents and software.

On-premise : Customer-owned computer hardware is used to deploy on-premise applications. It goes by the names client/server and shrink-wrap software as well. The main advantage of on-premise software is that users own total control over their apps and data. They have the freedom to install whatever operating system or application they like, use their own storage devices, modify settings to suit their needs, and, if necessary, bring in outside experts to assist with deployment and administration.

• By Application

Based on application the global market can be categorized into large enterprises, small and medium-sized enterprises (SMEs) and others.

Large enterprises: It employ horse software to cut expenses and boost productivity. Large businesses benefit from Horse Software's strong features, which provide them an advantage over rivals and facilitate team communication, workflow optimization, job automation, and real-time business operations insight.

Small and Medium Sized: Horse software is being used more and more by small and medium-sized enterprises to run their operations. These companies may save time and money with the aid of the user-friendly cloud-based equine software. Furthermore, the on-premise horse software is adaptable to the unique requirements of a company. Businesses that need to track sales, inventory, and customer information should use this program.

DRIVING FACTORS

"Mobile Accessibility and Easy Integration to Step Up the Market Sales"

Horse owners, trainers, and stable managers may now access information and oversee operations from any location because to the growing popularity of mobile applications and platforms. Real-time decision-making and flexibility are enhanced by mobile accessibility. One major motivator is the capacity to oversee equestrian activities from a distance, particularly during disruptive events such as the COVID-19 epidemic. The value of software that facilitates remote scheduling, communication, and monitoring is rising.

"Health Monitoring and Wearable Technology to Accelerate the Market Growth"

Software that makes veterinary treatment, health monitoring, and maintaining thorough health records easier is in demand as the importance of horses' health and well-being grows. One of the main motivators is integration with wearable technology and Internet of Things (IoT) devices for horses. By offering real-time data about a horse's performance, mobility, and health, these devices improve training and overall equine care.

RESTRAINING FACTORS

"Dependence on Internet Connectivity and Security Concerns to Restrain and Hold Back the Market Growth"

Internet access is typically necessary for cloud-based horse software. The usefulness of the program may be hampered if users are in rural areas without dependable connectivity or if there are problems with internet access. Security is an important factor to take into account, particularly when handling sensitive data like financial and medical records for horses. The security measures put in place to shield users' data from cyber threats and unlawful access may worry users. However, it is anticipated that low internet penetration in some developing nations and security concerns may restrict the worldwide horse software market growth.

HORSE SOFTWARE MARKET REGIONAL INSIGHTS

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"North America to Lead the Market with Leading Hub for AI and IoT"

The U.S., in particular, has been a hub for AI development and IoT penetration, as well as a major contributor to the horse software market share. The horse industries in the U.S. and Canada are well-established and include racing, displaying, and pleasure riding. These areas frequently take the lead in the adoption of technology across a range of industries, including agriculture.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important market players are crucial for determining consumer preferences and market dynamics since they have a big impact on the market. Customers have easy access to a huge selection of garment options because to the large retail networks and online platforms of these large corporations. Product adoption has increased as a result of their well-known brand and strong worldwide presence, which have also boosted customer loyalty and confidence.

List of Market Players Profiled

• Contracto Horse (The Netherlands)

• Horsebills (U.S.)

• Paddock Pro (U.S.)

• Equine Genie (U.S.)

• BarnManager (U.S.)

• HorseLogs (Canada)

• Ardex Technology (Germany)

• CRIO Online (India)

• Equicty (Belgium)

• Equisoft Live (U.S.)

• HiMARKS (U.S.).

INDUSTRIAL DEVELOPMENT

• December 2022: Equisense is a gadget that scans a horse's gait for signs of injury or lameness and reports back to an app on your smartphone. The gadget measures your horse's stride length, movement, speed, and leap trajectory. It is fastened to the girth of your horse. Since this data is essential for horse training and discipline, you can forward it to your trainer or any other person who looks after your equine companion. This program helps to increase horse exercise and keeps track of the workload.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.