Market Size of Artificial Intelligence in Agriculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Agriculture AI Market Analysis
The global artificial intelligence in agriculture market is projected to register a CAGR of 4.2% during the forecast period.
- Artificial intelligence techniques for agriculture help boost productivity and yield. Consequently, agribusiness corporations adopt artificial intelligence technologies in terms of predictive analytics-based resolutions.
- AI-based applications and techniques can maximize crop yields, driving the market. According to the United Nations (UN), the global population is projected to reach 9.8 billion by 2050. And limited arable land availability and the need for increased food production for food security drive a green revolution fuelled by the Internet of Things (IoT), artificial intelligence, and big data.
- Moreover, an increase in the adoption of cattle face recognition technology is driving the market. By applying advanced metrics, including cattle facial recognition programs and image classification incorporated with body condition scores and feeding patterns, dairy farms can now monitor all behavioral aspects in a group of cattle individually.
- However, the need for more data collection and sharing standardization is restraining the market growth. Machine learning, artificial intelligence, and algorithm designs have advanced fast, but collecting well-tagged, meaningful agricultural data needs to catch up. This holds back the market's growth during the forecast period.
Agriculture AI Industry Segmentation
Artificial intelligence technology supports the agriculture sector in boosting productivity and efficiency by reducing negative impacts on the environment.
The global artificial intelligence in agriculture market report has been segmented by application (weather tracking, precision farming, and drone analytics), deployment (cloud, on-premise, and hybrid), and geography (North America, Europe, Asia-Pacific, South America, and Africa).
The report offers market sizing and forecasts in terms of Value (USD Thousand).
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| Weather Tracking | |
| Precision Farming | |
| Drone Analytics |
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| Cloud | |
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Artificial Intelligence in Agriculture Market Size Summary
The artificial intelligence in agriculture market is experiencing a transformative phase, driven by the need to enhance productivity and yield in the face of a growing global population and limited arable land. AI technologies, including predictive analytics and IoT integration, are being increasingly adopted by agribusinesses to maximize crop yields and ensure food security. The market is also witnessing a surge in the use of advanced technologies such as cattle face recognition, which allows for individual monitoring of cattle behavior, thereby optimizing dairy farm operations. However, the market's growth is somewhat hindered by challenges in data collection and standardization, which are crucial for the effective implementation of machine learning and AI algorithms in agriculture.
The decline in the agricultural labor force, due to factors like an aging population and the unappealing nature of farming for younger generations, is prompting a shift towards automation through AI technologies. This labor shortage is a global issue, affecting both developed and developing regions, and is encouraging investments in AI-driven solutions to maintain production levels. North America, in particular, is poised for significant growth in this sector, supported by its robust industrial automation industry and substantial investments in AI research and development. The presence of major agricultural technology providers in the region further bolsters the market, as they continue to innovate and introduce advanced AI solutions. Despite the competitive and fragmented nature of the market, with numerous players offering similar products, the ongoing technological advancements and strategic partnerships are expected to drive the adoption of AI in agriculture, paving the way for future growth.
Artificial Intelligence in Agriculture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Weather Tracking
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2.1.2 Precision Farming
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2.1.3 Drone Analytics
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2.2 Deployment
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2.2.1 Cloud
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2.2.2 On-premise
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2.2.3 Hybrid
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 Italy
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2.3.2.4 Spain
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Africa
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Artificial Intelligence in Agriculture Market Size FAQs
What is the current Artificial Intelligence in Agriculture Market size?
The Artificial Intelligence in Agriculture Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in Artificial Intelligence in Agriculture Market?
Microsoft Corporation, IBM corporation, Granular, Inc., aWhere, Inc. and Prospera Technologies Ltd. are the major companies operating in the Artificial Intelligence in Agriculture Market.
