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

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 Global 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 Global 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 Global 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 Global 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.