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Artificial Intelligence in Agriculture Market
Artificial Intelligence in Agriculture Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2029
Artificial Intelligence in Agriculture Market by Technology Type (Machine Learning, Computer Vision, Predictive Analytics), Offering Type (Hardware, Software, AI-as-a-Service, Services, Deployment & Integration, Support & Maintenance), Application Type (Precision Farming, Livestock Monitoring, Drone Analytics, Agriculture Robots, Labor Management), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
"The global 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."
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The utilization of artificial intelligence (AI) in agriculture is transforming farming methods and providing creative ways to improve resource management, sustainability, and productivity. This rapidly growing industry uses modern innovations like computer vision, machine learning, and predictive analytics to tackle major issues with food security and production. Precision farming, automated machinery, predictive yield modeling, smart irrigation systems, and crop and soil monitoring are just a few of the many applications of AI in agriculture.
Artificial intelligence in agriculture market drivers:
Artificial intelligence in agriculture market challenges:
"Machine learning segment accounted for the largest market share."
The market is segmented into Machine Learning, Computer Vision, Predictive Analytics. Machine learning enabled AI in agriculture accounted for the largest market share. 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.
"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.
"Software segment accounted for the largest market share."
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.
"Precision farming segment accounted for the largest market share."
The market is segmented into Precision Farming, Livestock Monitoring, Drone Analytics, Agriculture Robots, Labor Management. Precision farming application of AI in agriculture will account for a significant share over the forecast period. Precision farming and automation in food production are critical priorities for food growers in the current situation, and AI is fueling these gains.
"North America accounted for the largest market share."
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.
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The major players operating in the global artificial intelligence in agriculture market are:
Note: The above list does not necessarily include all the top players in the market.
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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.
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In-depth analysis of the Artificial Intelligence in Agriculture Market |
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Market forecast and trend data and emerging trends |
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Global, regional and country level historical data and forecasts |
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Market segment analysis and forecast |
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Competitive landscape analysis, Market share analysis |
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Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s artificial intelligence in agriculture market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
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Additionally, many critical insights, including market dynamics, competitive intelligence, and industry-specific trends, are not publicly available and therefore cannot be captured through AI alone.
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.
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