Market Overview:
The Global Market for Artificial Intelligence (AI) In Agriculture Was Estimated at USD 2.20 Billion In the Year 2022, Is Projected to Reach A Revised Size of USD 11.01 Billion By 2030, Growing at A CAGR of 22.3% Over the Forecast Period 2023-2030.
Artificial Intelligence has come one of the most important technologies in every sector, including education, robotics, banking, husbandry, etc. In the agriculture sector, it's playing a veritably pivotal part, and it's transubstantiating the agriculture industry. Artificial Intelligence has bettered crop products and real-time monitoring, harvesting, processing, and marketing.
AI is extensively used in this sector. For agriculture, Artificial Intelligence has come a revolutionary technology. It helps the farmers by yielding healthier crops, controlling pests, soil monitoring, and numerous further ways.
Top Key Players in AI in Agriculture Market:
Deere & Company (US), IBM Corporation (US), Microsoft Corporation (US), The Climate Corporation (US), Farmers Edge Inc. (Canada), Hewlett Packard Enterprise Development LP (US), Cisco Systems Inc. (US), Google LLC (US), Amazon Web Services Inc (US), Corteva, Inc (US), AgEagle Aerial Systems Inc. (US), Descartes Labs Inc. (US) and Other Major Players.
Market Dynamics and Factors for AI in Agriculture Market:
Drivers:
Shortage of Labor Driving the Demand For AI
There has always been an issue of labor shortage in the agriculture industry. AI can break this issue with automation in farming. With AI and automation, farmers can get work done without having more people, and some examples of driverless tractors.
Smart irrigation and fertilizing systems, smart spraying, vertical farming software, and AI- grounded robots for harvesting. AI-driven machines and outfits are important briskly and more accurate compared to mortal farmhands. The downturn is fueling trends toward automated husbandry operations because of a lack of qualified workers, a growing generation, and youngish generations who do not find tilling charming.
Opportunities:
Rising the Adoption of AI Solutions in Agriculture
Climate change has made it difficult for farmers to determine the right time for sowing seeds, and that?s where AI comes into the picture. With the help of artificial intelligence, it's easy to gain sapience into how weather, seasonal sun, wind speed, and rain will affect crop planting cycles.
Technologies similar to AI have the eventuality to anonymize data while helping to uncover sapience that creates new openings. Farmers will no longer have to be bothered about relinquishing their IP, which will encourage lesser collaboration and eventually growth.
Segmentation Analysis of the AI in Agriculture Market:
By Application, the Precision Farming segment is expected to register a significant market share. Nowadays, mobile apps, drones, smart sensors, and cloud computing make precision agriculture possible for farming cooperatives and even small family farms. Precision farming enables farmers to reduce costs and maximize available resources. For precision farming, digital data is gathered, interpreted, and analyzed by automated intelligence.
By Technology, Machine Learning is likely to dominate in this area Machine Learning enabled solutions are being significantly adopted by agriculture organizations and farmers to enhance farm productivity.
Regional Analysis of the AI in Agriculture Market:
The North American economy is characterized by rising disposable income, ongoing funding for automation, significant investments in the Internet of Things, and a rising focus on domestic AI equipment development by governments.
The region has a thriving artificial intelligence market and a leading industrial automation sector. The population's increased purchasing power, ongoing increases in automation, large investments in the IoT, and increasing government attention on domestic AI equipment production are all characteristics of North America.
Key Industry Development:
In January 2022, Climate FieldView, Bayer?s flagship digital farming product, focuses on helping farmers and their trusted business partners work together through digital tools and use data to drive decisions. New FieldView capabilities and an ongoing commitment with Precision Planting to enhance user experience will benefit customers.
In December 2022, Corteva Agriscience announced a collaboration with NEVONEX, powered by Bosch, to explore the precision application of crop protection products using on-farm data, advanced analytics, and spray equipment. The collaboration intends to create value for farmers by enabling data-driven crop protection applications with standard machine spray technology.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
