Artificial Intelligence Agriculture Market

Artificial Intelligence in Agriculture Market Insights

The global Artificial Intelligence in Agriculture Market is expected to grow at a significant CAGR of more than 21.5% over the forecast period. This growth is mainly attributed to rising population coupled with increasing demand for agricultural products. Along with this, increasing adoption of advanced technologies for improving crop yield and quality food is also likely to stimulate the market for AI in Agriculture.

Moreover, increased application of precision farming is also anticipated to boost the market growth over the years. However, high initial investment cost coupled with lack of awareness among farmers about efficient farming tools is projected to affect the profitability of market.

Artificial Intelligence in Agriculture Market: Technology Insights

On the basis of technology, the artificial intelligence in agriculture market is segmented into machine learning, computer vision and predictive analytics. The market for machine learning is expected to occupy the highest share owing to its rising application in livestock monitoring, drone analytics, and precision farming. Also, increasing adoption of machine based learning to improve farm productivity is further likely to propel market growth.

Artificial Intelligence in Agriculture Market: Offering Insights

By offering, the artificial intelligence in agriculture market is segmented into hardware, software, services and AI-as-a-Service. The hardware segment is segregated into processor, storage device, and network. The hardware segment is expected to grow at a significant CAGR over the coming years owing to rising consumption of data storage devices and processors for various farm operations.

The software segment is segregated into AI platform and AI solution. The software segment is anticipated to register a considerable growth rate over the forecast period on account of rising adoption of artificial intelligence software to improve efficiency in farms. Moreover, integration of farming techniques with mobile technologies is also likely to favor the market.

Artificial Intelligence in Agriculture Market: Application Insights

AI in agriculture finds its application in precision farming, drone analytics, agriculture robots and livestock monitoring among others. Precision farming includes yield monitoring, field mapping, crop scouting, weather tracking & forecasting, and irrigation management among others. The precision farming segment is anticipated to dominate the market over the forecast period owing to growing adoption of artificial intelligence technologies.

The others segment which includes soil management, smart greenhouse management and fish farming management is also likely to grow at a healthy CAGR over the coming years.

Artificial Intelligence in Agriculture Market: Regional Insights

Asia Pacific is anticipated to grow at a high CAGR over the forecast period. This can be attributed to increasing application of predictive analytics and machine learning in countries such as China, Japan, Australia, and India. North America is also likely to grow at a considerable rate due to high and early adoption of advanced technologies and product in agriculture sector.

Artificial Intelligence in Agriculture Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Artificial Intelligence in Agriculture Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase AI in agriculture over the coming years. Some leading consumers of this market are Adecoagro, China Agri-Industries Holdings, and Illovo Sugar among others.

Artificial Intelligence in Agriculture Market Share & Competitor Analysis

Some of the key players profiled in the artificial intelligence in agriculture market include IBM, Microsoft, Deere & Company, Agribotix, Granular, Descartes Labs, Awhere, Mavrx, and Prospera among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In December 2017, Microsoft Corporation collaborated with ICRISAT to develop an AI-Sowing App which is powered by Microsoft Cortana Intelligence Suite and includes Machine Learning and Power BI.

In September 2017, Deere & Company announced acquiring Blue River Technology, a Californian company. The acquisition is expected to help Deere optimize its traditional crop spraying methods and also automate its tractors for farming.

Check the new version of the report at: Global AI in Agriculture Market Size, Trends & Analysis - Forecasts To 2026