New York, United States , July 06, 2023 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence In Agriculture Market Size is to grow from USD 1.05 Billion in 2022 to USD 5.27 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period.
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Artificial Intelligence (AI) is transforming agriculture by enhancing productivity and sustainability. Through machine learning, computer vision, and robotics, AI enables data-driven decision-making for farmers. It aids in crop monitoring, disease detection, and yield prediction using satellite imagery, weather data, and sensors. AI optimizes farming practices through precision agriculture techniques, minimizing resource waste and environmental impact. Robots and drones equipped with AI automate labor-intensive tasks like planting and harvesting. Additionally, AI facilitates farm management, supply chain optimization, and market forecasting. With further advancements, AI integration in agriculture holds significant potential for efficient and sustainable food production.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on, "Global Artificial Intelligence In Agriculture Market Size, Share, and COVID-19 Impact Analysis, By Technology (Machine Learning, Computer Vision, and Predictive Analytics), By Offering (Hardware, Software, AI-as-a-Service, and Service), By Application (Precision Farming, Agriculture Robots, Livestock Monitoring, Drone Analytics, Labor Management, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The precision farming segment is expected to grow at a CAGR of around 18.7% during the forecast period.
Based on application, the global artificial intelligence in the agriculture market is segmented into precision farming, agriculture robots, livestock monitoring, drone analytics, labor management, and others. The precision farming segment is projected to witness significant growth in the forecast period within the Artificial intelligence in agriculture market. This growth can be attributed to several factors. Precision farming techniques, powered by AI, enable farmers to optimize their resource usage, including water, fertilizers, and pesticides, by delivering interventions with precision. AI-based technologies like machine learning and satellite imagery enable real-time monitoring of crop health, soil conditions, and weather patterns, allowing farmers to make data-driven decisions for precise interventions. The increasing awareness of sustainable farming practices, coupled with the need for maximizing yields and minimizing environmental impact, is driving the adoption of precision farming. These factors indicate a positive outlook for the growth of the precision farming segment in the forecast period.
The computer vision segment is expected to grow at a CAGR of around 19.1% during the forecast period.
Based on technology, the global artificial intelligence in the agriculture market is segmented into machine learning, computer vision, and predictive analytics. The computer vision segment is anticipated to experience substantial growth in the forecast period within the artificial intelligence in agriculture market. This growth can be attributed to several factors. Computer vision technology enables the analysis and interpretation of visual data captured from drones, satellites, or cameras, facilitating tasks such as crop monitoring, disease detection, and weed identification. With advancements in AI algorithms and deep learning techniques, computer vision systems can accurately identify and analyze various objects and patterns in agricultural images. The ability to automate and enhance decision-making processes based on visual information is driving the adoption of computer vision in agriculture.
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Asia-Pacific is predicted to grow at a higher CAGR of around 19.5% over the projected period.
Based on region, Asia-Pacific is poised for highest growth in the forecast period in the artificial intelligence in the agriculture market. Several factors contribute to this expected growth. The region is home to densely populated countries like China and India, which have large agricultural sectors and face the challenge of feeding their populations. This drives the need for advanced technologies like AI to enhance agricultural productivity. The Asia-Pacific has been witnessing rapid technological advancements, increasing digitalization, and growing investments in AI research and development. Moreover, governments in the region are actively promoting digital transformation in agriculture, offering incentives and support for AI adoption.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global artificial intelligence in agriculture market include Deere & Company, IBM Corporation, Microsoft Corporation, Google LLC, The Climate Corporation, Farmers Edge Inc., Granular Inc., AgEagle Aerial Systems Inc., Descartes Labs, Inc., Raven Industries Inc., AGCO Corporation, Gamaya SA, and Bayer AG.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global artificial intelligence in agriculture market based on the below-mentioned segments:
Artificial Intelligence In Agriculture Market, By Technology
- Machine Learning
- Computer Vision
- Predictive Analytics
Artificial Intelligence In Agriculture Market, By Offering
- Hardware
- Software
- AI-as-a-Service
- Service
Artificial Intelligence In Agriculture Market, By Application
- Precision Farming
- Agriculture Robots
- Livestock Monitoring
- Drone Analytics
- Labor Management
- Others
Artificial Intelligence In Agriculture Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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