Global Artificial Intelligence in Agriculture Market

Artificial Intelligence in Agriculture Market Size, Share, Growth Analysis, By Component(Hardware, software and services), By Application(Precision farming, drone analytics, agriculture robots, livestock monitoring and others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45A2173 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Artificial Intelligence in Agriculture Market Insights

Artificial Intelligence in Agriculture Market size was valued at USD 1.06 billion in 2021 and is poised to grow from USD 1.30 billion in 2022 to USD 6.81 billion by 2030, at a CAGR of 23% during the forecast period (2023-2030).

The Global Artificial Intelligence in Agriculture Market is currently experiencing a remarkable surge, revolutionizing the agricultural landscape with cutting-edge technologies. AI-powered solutions are reshaping traditional farming practices, optimizing efficiency, and augmenting production capabilities. Presently, farmers worldwide are embracing AI-driven tools and techniques to streamline various processes, encompassing crop monitoring, pest detection, and yield forecasting. Real-time data analytics facilitated by AI aids in making well-informed decisions, thereby reducing resource wastage and enhancing crop yields. The integration of drones and autonomous robots equipped with AI algorithms enables precise and targeted crop management, optimizing the use of fertilizers and pesticides. Additionally, AI-powered agricultural machinery further enhances productivity while reducing labor costs. The adoption of AI chatbots and virtual assistants assists farmers in obtaining valuable insights, weather forecasts, and market trends, fostering better planning and risk management. As AI in agriculture continues to evolve, its applications extend to genomics and crop breeding, leading to the development of superior, resilient plant varieties. Despite its substantial growth, challenges such as data privacy, high implementation costs, and limited access to advanced technology in certain regions remain present. Nevertheless, the future holds promising prospects for the global market as the agriculture industry increasingly embraces the transformative potential of artificial intelligence in its quest for sustainable and efficient practices.

US Artificial Intelligence in Agriculture Market is poised to grow at a sustainable CAGR for the next forecast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Artificial Intelligence in Agriculture Market size was valued at USD 1.06 billion in 2021 and is poised to grow from USD 1.30 billion in 2022 to USD 6.81 billion by 2030, at a CAGR of 23% during the forecast period (2023-2030).

The competitive landscape of the Artificial Intelligence in Agriculture Market is characterized by intense rivalry and a diverse array of players offering AI-powered solutions and services to the agriculture industry. Major participants are continuously engaged in research and development to enhance their AI algorithms, sensors, and software platforms, striving to gain a competitive edge. Additionally, partnerships, collaborations, and strategic acquisitions are prevalent as companies seek to expand their market presence and cater to evolving customer needs. The market's competitive nature is further driven by the growing focus on providing customized AI solutions for precision farming, drone analytics, agriculture robots, and other applications, ensuring a dynamic and rapidly evolving landscape. 'IBM Corporation (US)', 'Microsoft (US)', 'Deere & Company (US)', 'AgEagle Aerial Systems Inc. (US)', 'The Climate Corporation (US)', 'Granular, Inc. (US)', 'Descartes Labs, Inc. (US)', 'Prospera Technologies (Israel)', 'Taranis (Israel)', 'aWhere Inc. (US)', 'GAMAYA (Switzerland)', 'ec2ce (Spain)', 'PrecisionHawk (US)', 'VineView (US)', 'Tule Technologies Inc. (US)', 'Farmwise (US)', 'Connecterra (Netherlands)', 'Ceres Imaging (US)', 'Arable Labs, Inc. (US)', 'FarmLogs (US)'

One key driver of the Artificial Intelligence in Agriculture Market is the increasing need for sustainable and efficient agricultural practices. As the world population continues to grow, there is a rising demand for food production, putting pressure on the agriculture industry to maximize yields while minimizing resource consumption. AI-powered solutions offer the potential to optimize agricultural processes, such as precision farming and data-driven decision-making, leading to more sustainable and efficient farming practices. This driver is compelling farmers and agricultural organizations to adopt AI technologies to meet the challenges of food security and environmental sustainability.

Increasing adoption of digital farming platforms: One key market trend in the Artificial Intelligence in Agriculture Market is the increasing adoption of digital farming platforms. Agricultural organizations and farmers are embracing AI-driven digital farming platforms that offer comprehensive solutions for crop management, data analytics, and decision-making. These platforms integrate various AI technologies, such as machine learning, satellite imagery, and IoT sensors, to provide real-time insights and recommendations for optimizing agricultural practices. The trend towards digital farming platforms reflects the industry's shift towards data-driven and technology-enabled approaches to enhance productivity, sustainability, and profitability in agriculture.

The dominant region in the Artificial Intelligence in Agriculture Market is North America. North America has emerged as a key player in the adoption and integration of AI technologies in agriculture. The region's dominance can be attributed to the presence of advanced farming practices, significant investments in AI research and development, and a strong focus on agricultural innovation. Moreover, the region's well-established infrastructure and extensive use of precision farming techniques contribute to the widespread adoption of AI solutions, making North America the leading market for artificial intelligence in agriculture.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Artificial Intelligence in Agriculture Market

Report ID: SQMIG45A2173

$5,300
BUY NOW GET FREE SAMPLE