Selbyville, Delaware, June 14, 2023 (GLOBE NEWSWIRE) --
The AI in agriculture market valuation is expected to reach USD 10 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rapid growth and adoption of artificial intelligence (AI) in agriculture can be attributed to several key drivers. Firstly, the global population continues to rise, putting immense pressure on the agriculture industry to produce more food. AI technologies like precision farming and smart irrigation systems enable farmers to optimize crop yields, minimize resource wastage, and make data-driven decisions. By leveraging AI algorithms and machine learning, farmers can analyze vast amounts of data related to soil health, weather patterns, and crop characteristics, enhancing productivity and reducing costs.
Secondly, the need for sustainable and environmentally friendly practices has become a top priority. AI in agriculture enables the implementation of precision agriculture techniques, which minimize the use of water, pesticides, and fertilizers by precisely targeting their application. This reduces the negative impact on the environment, lowers production costs, and increases profitability. These factors are reshaping the agriculture industry, promoting efficiency, sustainability, and profitability through the adoption of AI-driven solutions.
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The AI in agriculture market from the services segment will witness healthy growth through 2032. AI is driving significant advancements in agriculture services, revolutionizing the way farming is conducted. Through machine learning and data analytics, AI enables the development of predictive models for crop management, pest control, and yield optimization. This technology also enables the automation of various agricultural tasks, including planting, harvesting, and monitoring, through the use of robotics and autonomous vehicles.
The AI in agriculture market from the predictive analysis segment is projected to record significant growth from 2023 to 2032. Predictive analysis plays a crucial role in agriculture by leveraging data and AI algorithms to make accurate forecasts and informed decisions. By analyzing historical and real-time data, predictive analysis can help analyze crop yields, disease outbreaks, optimal planting and harvesting times. This information enables farmers to optimize resource allocation, improve crop management practices, and mitigate risks. Overall, predictive analysis empowers farmers with actionable intelligence, enhancing productivity, sustainability, and profitability in the agricultural sector.
The AI in agriculture market from the crop and soil monitoring segment is estimated to grow at a robust pace between 2023 and 2032. AI brings significant improvements to crop and soil monitoring in agriculture. Through the integration of sensors, drones, and satellite imagery, AI enables real-time and accurate data collection on crop health, soil moisture, nutrient levels, and pest infestations. AI algorithms analyze this data to identify patterns, anomalies, and potential risks. With the aid of computer vision, AI can detect and diagnose crop diseases and nutrient deficiencies, allowing for timely interventions.
Asia Pacific AI in agriculture market will expand considerably up to 2032, Governments, research institutions, and industry players are collaborating to drive innovation and technology adoption. Initiatives such as funding programs, research grants, and policy support are encouraging the development and deployment of AI solutions in agriculture. Countries like China, India, Japan, and Australia are investing in AI-driven projects, including precision farming, crop monitoring, and smart irrigation systems. Additionally, knowledge-sharing platforms, conferences, and workshops are fostering awareness and knowledge exchange among stakeholders. These collective efforts are propelling the growth of the AI in agriculture industry in the region.
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Some of the leading players in the AI in agriculture market are Climate LLC (The Climate Corporation), Microsoft Corporation, (Cainthus Corp) Ever.Ag, IBM Corporation, PrecisionHawk Inc, aWhere Inc., (Prospera Technologies) Valmont Industries, Inc, Corteva Agriscience, Deere & Company, Tule, Vineview, Taranis, and Descartes Labs, Inc.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 AI in agriculture market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023- 2032
2.3 Regional trends
2.4 Component trends
2.5 Technology trends
2.6 Application trends
Chapter 3 AI In Agriculture Market Industry Insights
3.1 Impact on COVID-19 impact
3.2 Russia-Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Supportive initiatives by government
3.8.1.2 Need to deliver sufficient amount of crops
3.8.1.3 Increasing implementation of agriculture robots
3.8.1.4 Growing interest towards precision farming
3.8.2 Industry pitfalls & challenges
3.8.2.1 Lack of understanding of the practical application of AI tools
3.9 Profit margin analysis
3.10 Vendor matrix analysis
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
