• Blog
  • Artificial Intelligence in Agriculture Market Analysis | 2023-2029

    Artificial Intelligence in Agriculture Market Analysis | 2023-2029

    Artificial Intelligence in Agriculture Market Analysis | 2023-2029
    Report code - SR2381 Delivery - 2 Weeks
    Artificial Intelligence in Agriculture Market Size, Share, Trend, Forecast, Competitive An See more...

    Market Insights

    "The artificial intelligence in agriculture market is expected to grow from USD 1.32 billion in 2022 to USD 4.79 billion by 2029 at a CAGR of 20.2% during the forecast period."

    AI in agriculture involves using advanced technologies and machine learning algorithms to improve the efficiency, productivity, and sustainability of agricultural practices. By collecting and analyzing data from sensors, drones, and satellites, AI can help farmers make informed decisions on planting, harvesting, and crop management. AI can also assist in predicting weather patterns and climate changes, reducing waste, and conserving natural resources.

    With AI-powered systems, farmers can automate tasks such as irrigation, fertilization, and pest control, reducing costs and increasing yields. AI in agriculture is transforming the industry, making farming more sustainable, profitable, and environmentally friendly.

    Want to get a free sample? Register Here

    The utilization of AI in agriculture provides farmers with numerous benefits. For instance, it allows for real-time analysis of their fields, monitoring of soil quality, plant health, temperature, and automation of irrigation and pesticide processes. All of these factors contribute to the enhancement of the overall harvest quality and accuracy.

    Moreover, AI has various applications that are designed to optimize crop production efficiency, including precision farming, livestock monitoring, drone analytics, agriculture robots, and labor management. The market for AI in agriculture is experiencing growth as deep learning technology is being utilized to increase crop productivity.

    Market Dynamics

    Increasing need for real-time data by growers to take preventive measures

    The market for AI in agriculture is being driven by the increase in agricultural activities and the growing demand for real-time data. The availability of real-time data from agricultural farms enables prompt decision-making regarding preventive measures. To gather data on soil moisture and nutrient levels across their fields, farmers from North America, South America, and Europe are utilizing sensors, drones, guidance technologies, and soil sampling techniques.

    High-tech tools for data collection and analysis are becoming increasingly popular among farmers and growers in the US, Canada, Brazil, and most Western European countries. Among these tools, drone-enabled scouting is one of the most convenient methods for collecting farm data.

    Government programs encouraging adoption of AI solutions to manage small farms

    There are more than 570 million farms worldwide, with 95% of them being less than 5 hectares in size. AI solutions are mainly implemented in farms with over 100 hectares of land, likely due to the high initial investment required for implementing such solutions. Farmers who own lands exceeding 100 hectares usually have the capacity to invest in AI-based solutions for farm management and other applications.

    However, with governments worldwide supporting the use of AI for agricultural purposes and providing aid to farmers with small farms, there is an opportunity for solution providers to focus on farms with less than 5 hectares of land. For example, in the US, the Department of Agriculture offers programs that provide small and mid-size producers with easy loans and improve their technological know-how to help them use the best technology for farming.

    Segment Analysis

    Technology Insights

    "Machine learning enabled AI in agriculture to hold the largest market share over the forecast period."

    Agricultural organizations and farmers worldwide are increasingly adopting machine learning-enabled solutions to enhance farm productivity and gain a competitive edge in their business operations. The major driving factors for the growth of the AI in agriculture market include technological advancements and the proliferation of farm data generation. With the use of machine learning, farmers can capture various factors such as soil quality, seed quality, fertilizer application, environmental variables, and irrigation to optimize their agricultural processes.

    Offering Insights

    "AI in agriculture market for the software segment will account for the largest market share during the forecast period.

    The AI in agriculture market has been segmented based on offerings into hardware, software, AI-as-a-service, and service. The software segment is expected to hold the largest market share throughout the forecast period. This is because the software integrated into a computer system is responsible for carrying out complex operations. It synthesizes the data received from the hardware and processes it in the AI system to generate an intelligent response.

    Moreover, the software segment is further segmented into AI platform and AI solution. In an AI platform, data is combined with a decision-making algorithm to enable developers to create a business solution.

    Application Insights

    "Precision farming application of AI in agriculture to account for a significant share over the forecast period."

    This segment is expected to continue to hold the second-largest market share in the coming years due to the high adoption rate of AI technologies for precision farming applications. Precision farming and automation in food production are critical priorities for food growers in the current situation, and AI is fueling these gains.

    "The market for computer vision technology-based AI products is to grow at the highest CAGR over the forecasted period."

    The AI in agriculture market has been segmented based on technology into machine learning, computer vision, and predictive analytics. The market for computer vision technology-based AI products is expected to grow at the highest CAGR during the forecast period.

    This high growth rate is attributed to the rising need for continuous monitoring and analysis of crop health and the increasing use of computer vision technology in agricultural applications, such as sorting produce according to weight, color, size, and ripeness, and identifying defects in agricultural produce.

    Want to get a free sample? Register Here

    Regional Trends

    "North America is expected to hold the largest share of the market during the forecast period."

    North America held the largest market share during the forecast period in the AI in agriculture market. The market in this region has been segmented into the US, Canada, and Mexico. Large-scale agriculture players in North America are already using AI technology to significantly improve the speed and accuracy of their planting and crop management techniques. The demand for advanced agricultural solutions is expected to drive the growth of the AI in agriculture market in this region.

    Key Players

    The major players operating in the global artificial intelligence in agriculture market are:

    • Microsoft
    • IBM
    • Deere & Company
    • Farmers Edge Inc.
    • The Climate Corporation
    • Ageagle Aerial Systems Inc.
    • Granular Inc.
    • Descartes Labs, Inc.
    • Prospera Technologies, Inc.
    • Cropin Technology Solutions Private Limited
    • Taranis
    • Gamaya
    • EC2CE
    • Precision Hawk
    • Vineview
    • Ever.Ag
    • Tule Technologies
    • Resson Aerospace Inc.
    • Connecterra B.V.
    • Vision Robotics Corporation
    • Farmbot
    • Harvest Croo Robotics Llc
    • Progressive Environmental & Agricultural Technologies (Peat)
    • Trace Genomics
    • Cropx Inc.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Artificial Intelligence in Agriculture Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

     

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert:

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent News & Developments

    • In January 2023, Taranis, an AI-powered crop intelligence solution provider, launched AcreForward, a new offering to help agriculture retailers drive more value from every acre. It delivers unprecedented leaf-level insights into growers' crops at higher frequency throughout the season and extracts opportunities in every acre that includes new insights into soil health and carbon sequestration.
    • In June 2022, Cropin launched a purpose-built industry cloud for agriculture, namely, Cropin Cloud. Cropin Cloud aims to advance technology to solve critical planet-scale challenges such as climate-resilient agriculture, food security, and reducing the environmental impact of farming.
    • In March 2022, Sway AI, a No-code artificial intelligence (AI) applications provider, partnered with Trilogy Networks, an edge computing innovator, to bring AI and edge innovation to precision farming.

    Frequently Asked Questions (FAQs)

    AI in agriculture involves using advanced technologies and machine learning algorithms to improve the efficiency, productivity, and sustainability of agricultural practices. By collecting and analyzing data from sensors, drones, and satellites, AI can help farmers make informed decisions on planting, harvesting, and crop management. AI can also assist in predicting weather patterns and climate changes, reducing waste, and conserving natural resources.

    The artificial intelligence in agriculture market size is estimated to grow from USD 1.32 billion in 2022 to USD 4.79 billion by 2029.

    The major players operating in the global Artificial Intelligence in Agriculture market are Microsoft, IBM, Deere & Company, Farmers Edge Inc., The Climate Corporation, Ageagle Aerial Systems Inc., Granular Inc., Descartes Labs, Inc., Prospera Technologies, Inc., Cropin Technology Solutions Private Limited, Taranis, Gamaya, EC2CE, Precision Hawk, Vineview, Ever.Ag, Tule Technologies, Resson Aerospace Inc., Connecterra B.V., Vision Robotics Corporation, Farmbot, Harvest Croo Robotics Llc, Progressive Environmental & Agricultural Technologies (Peat), Trace Genomics, Cropx Inc.

    North America held the largest market share during the forecast period in the AI in agriculture market.

    AI in agriculture market for software segment to account for the largest market share during the forecast period.

    The artificial intelligence in agriculture market is expected to grow at a CAGR of 20.2% during 2023-2029.