Artificial intelligence In Agriculture Market To Reach $9.55 Billion By 2030

Artificial intelligence In Agriculture Market Growth & Trends

The global artificial intelligence in agriculture market size is expected to reach USD 9.55 billion by 2030, registering a CAGR of 25.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Artificial intelligence solutions in the agricultural industry are emerging in various forms, such as soil and crop monitoring, agricultural robots, and predictive analytics. Farmers and agribusiness corporations are increasingly using soil sampling and artificial intelligence -enabled sensors for data gathering for better analysis and processing. The availability of these processed data has paved the way for the deployment of artificial intelligence in agriculture and farming.

Rapidly increasing global population is one of the key factors driving the need for artificial intelligence in agriculture. The global population is expected to reach 9.8 billion by 2050, according to the UN. Subsequently, food production must increase significantly as well. Artificial intelligence enables efficient and potential farming techniques for increased crop productivity and yield. For instance, the artificial intelligence Sowing App developed by Microsoft sends sowing advisories on the optimal date for crop sowing to farmers. It enhances the farmers’ efficiency in terms of planting and forecasting weather conditions.  

The Asia Pacific market is expected to witness substantial growth over the forecast period, owing to increasing adoption of artificial intelligence -enabled solutions and services by agriculture-technology-based companies in emerging economies. Emerging economies such as India and China have started implementing artificial intelligence technologies such as machine learning and computer vision to increase crop yield. Favorable regulations and standards in these countries encourage the implementation of modern techniques in farming and agriculture. For instance, in July 2019, the government of India began the use of artificial intelligence for yield estimation and crop cutting to cut down the cost of farming and increase productivity.

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Artificial intelligence In Agriculture Market Report Highlights

• Surge in the deployment of predictive analytics solutions in the farming and agriculture industry has created massive potential for artificial intelligence solutions in the agricultural industry

• Several benefits of artificial intelligence, such as prevention of cost overruns, weather forecasting, remote monitoring, weed detection, and irrigation management encourages the implementation of artificial intelligence in agriculture for increased productivity

• Market players are focusing on providing advanced artificial intelligence and big data in the agricultural industry, which offers advanced features such as crop scouting, field mapping, and yield monitoring

• Key market players are considering partnerships and acquisitions of startups providing innovative products to expand their range of artificial intelligence solutions for the agricultural industry

Artificial intelligence In Agriculture Market Segmentation

Grand View Research has segmented the global artificial intelligence in agriculture market report based on component, technology, application, and region:

Artificial intelligence In Agriculture Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware

• Software

• Service

Artificial intelligence In Agriculture Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Machine Learning & Deep Learning

• Predictive Analytics

• Computer Vision

Artificial intelligence In Agriculture Application Outlook (Revenue, USD Million, 2017 - 2030)

• Precision Farming

• Drone Analytics

• Agriculture Robots

• Livestock Monitoring

• Labor Management

• Others

Artificial intelligence In Agriculture Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in Artificial intelligence In Agriculture Market

• Blue River Technology (John Deere)

• Climate LLC

• Corteva

• Deere & Company

• Ecorobotix SA

• Farmers Edge Inc.

• IBM

• Microsoft

• Trimble Inc.

• VALMONT INDUSTRIES, INC.