Artificial intelligence technology brings the concept of cognitive computing to agriculture, where the farm equipment intelligence is modeled on human intelligence. Artificial intelligence technologies help farmers in optimizing their planning to generate profitable crop yields using predictable analytics for agricultural input choices and farm process planning.
The capabilities enabled by this technology allow the farm equipment and solutions to interpret, acquire, and react to unpredictable farm situations with enhanced efficiency.
Since 2010, the adoption of artificial intelligence in agriculture solutions has increased, especially by medium and large-scale farmers. Increased awareness regarding the benefits of these solutions has increased the adoption rate of these solutions. High technological advancement in some regions of the world is another driver toward the adoption of artificial intelligence in agriculture solutions by farmers.
Artificial Intelligence in Agriculture Market Overview
Artificial Intelligence in Agriculture Market is expected to reach $6,655.1 million by 2026, with a CAGR of 30.56% during the forecast period 2021-2026. The growth rate in the market is because of the increased awareness of artificial intelligence-based solutions in some regions of the world.
Impact of COVID-19
The supply chain for the majority of the industries across the globe got impacted due to the COVID-19 pandemic, including artificial intelligence in the agriculture industry. During the COVID-19 outbreak, the supply chain of the agriculture industry was disrupted. During the COVID-19 pandemic, agricultural production was hindered for farmers, which led to a decrease in their revenue generation. This has left the farmers in no position to invest in modern agricultural equipment.
Market Segmentation
AI in Agriculture Market by Farming Type
The farming type segment in the application for artificial intelligence in the agriculture market is expected to be dominated by field farming. The majority of the farmers around the world still engage in traditional farming, which is expected to drive artificial intelligence in the agriculture market in the forecast period.
AI in Agriculture Market by End Use
The end use segment in the application of artificial intelligence in the agriculture market is expected to be dominated by crops, fruits, vegetables, and other plants. The primary focus of all farmers around the world is to increase agricultural production, which is expected to increase the adoption of artificial intelligence products in the agricultural industry.
AI in Agriculture Market by Product
The global artificial intelligence in agriculture market in the product segment is expected to be dominated by software products. The high market share and growth potential associated with software products in the agriculture industry is expected to drive the global artificial intelligence in agriculture market.
AI in Agriculture Market by Region
North America generated the highest revenue of $598.7 million in 2020, which is attributed to the technological advancements in the North America region. In the region, government support along with technological advancement has helped in the growth of the market. The region is expected to witness high growth of CAGR 29.88% during the forecast period 2021-2026.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Agrivi, Alibaba Group Holding Limited, Ceres Imaging, CNH Industrial N.V., Granular Inc., Harvest Crop Robotics, LLC, IBM Corporation, Microsoft Corporation, Prospera Technologies, Robert Bosch GmbH, The Climate Corporation., among others.
The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (holding 50-60% of the market), mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the artificial intelligence in agriculture industry.
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How This Report Can Add Value
This extensive report on global artificial intelligence in agriculture market will help you with:
• The report covers product, application, and regional market estimations for the artificial intelligence in agriculture market.
• Extensive competitive benchmarking of the top 15 players (including OEMs and equipment providers) has been done to offer a holistic view of the global artificial intelligence in agriculture market landscape.
Product/Innovation Strategy: The product segment helps the reader in understanding the different types of artificial intelligence in agriculture solutions for the agriculture industry and their potential globally. Moreover, the study provides the reader a detailed understanding of the operation of different artificial intelligence in agriculture products (i.e., software, hardware, artificial intelligence-as-a-service, and support services).
Recent Developments in Artificial Intelligence in Agriculture Market
• In May 2021, Robert Bosch unveiled its new artificial intelligence based IoT platform to keep real time track of energy consumption, electrical parameters in healthcare, agriculture, and other sectors.
• In November 2020, Deere & Company introduced AutoPath for more accurate row guidance throughout the season.
• In November 202, CLAAS KGaA mbH launched the cloud-based DataConnect system that enables the exchange of machinery data between CLAAS, 365FarmNet, and Deere & Company.
• In September 2020, Agrivi launched Agrivi Farm Fleet that enables farmers to have real-time access to their fuel usage and machinery.
Key Questions Answered in the Report
• What is the estimated global artificial intelligence in agriculture market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to artificial intelligence in agriculture?
• What are the major restraints inhibiting the growth of global artificial intelligence in agriculture market?
• What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
• What is the competitive strength of the key players in the artificial intelligence in agriculture market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key artificial intelligence in agriculture companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
• What is the type of players and stakeholders operating in the market ecosystem of artificial intelligence in agriculture, and what is their significance in the global market?
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AI in agriculture market is expected to grow at a CAGR of 28.05% in the forecast period of 2020 to 2027.
Data Bridge Market Research report on AI in agriculture market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.In agriculture, Artificial Intelligence has numerous applications, ranging from rural automatons, facial recognition, computerised water system systems, and driverless tractors.
These applications are performed in relation to an alternative kind of AI-dependent sensors, GPS systems, radars, and other cutting edge contraptions.Access insightful study with over 100+ pages, list of tables & figures, profiling 10+ companies.
Ask for Free Sample Copy Of Connected care market @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-ai-agriculture-marketMarket Drivers and Restraints:On the basis of offering, the AI in agriculture market is segmented into hardware, software, service, AI-As-A-Service.
Service is sub segmented into support and maintenance and deployment and integration.On the basis of technology, the AI in agriculture market is segmented into predictive analytics, machine learning and computer vision.On the basis of application, the AI in agriculture market is segmented into livestock monitoring, precision farming, agriculture robots, livestock monitoring, drone analytics and others.
Precision farming is sub segmented into yield monitoring, crop scouting, weather tracking and forecasting, field mapping and irrigation management.
November 02, 2018: In 2017, the global AI in Agriculture market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.This report focuses on the global AI in Agriculture status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the AI in Agriculture development in United States, Europe and China.The key players covered in this studyIBMDeere & CompanyMicrosoftDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-ai-in-agriculture-market-size-status-and-forecast-2018-2025/request-sample AgribotixThe Climate Corporation (Subsidiary of Monsanto)GranularDescartes LabsProsperaMavrxAwhereGamayaEc2cePrecision HawkComplete Report Available @ https://www.radiantinsights.com/research/global-ai-in-agriculture-market-size-status-and-forecast-2018-2025 Skysquirrel TechnologiesCainthusTule TechnologiesRessonFarmbotConnecterraVision RoboticsHarvest CrooAutonomous Tractor CorporationTrace GenomicsVine RangersCropxSpensa TechnologiesMarket segment by Type, the product can be split intoHardwareSoftwareAI-As-A-ServiceMarket segment by Application, split intoPrecision FarmingLivestock MonitoringDrone AnalyticsAgriculture RobotsOther ApplicationsMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global AI in Agriculture status, future forecast, growth opportunity, key market and key players.To present the AI in Agriculture development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of AI in Agriculture are as follows:History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025For the data information by region, company, type and application, 2017 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant Insights Contact:Michelle ThorasCorporate Sales Specialist, USARadiant Insights, IncPhone: 1-415-349-0054Toll Free: 1-888-202-9519Email: [email protected] Blog URL: http://ictmarketforecasts.wordpress.com
These applications are performed in relation to an alternative kind of AI-dependent sensors, GPS systems, radars, and other cutting-edge contraptions.Increasing adoption of new advanced technologies and IMS, increasing demand for agricultural production and government initiatives for adopting modern agricultural techniques are the factors driving the growth of the AI in agriculture market.
Increasing usage of drones in agricultural farms acts as an opportunity.
High cost imposed on precise field data collection is restraining the AI in agriculture market.
Lack of standardization is one of the challenges faced by the AI in agriculture market.AI in agriculture market is expected to grow at a CAGR of 28.05% in the forecast period of 2020 to 2027.
Data Bridge Market Research report on AI in agriculture market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.Get a Sample Copy of Global AI in agriculture market Report to Understand the Complete Insights @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-ai-agriculture-marketMarket Drivers and Restraints:On the basis of offering, the AI in agriculture market is segmented into hardware, software, service, AI-As-A-Service.
Service is sub segmented into support and maintenance and deployment and integration.On the basis of technology, the AI in agriculture market is segmented into predictive analytics, machine learning and computer vision.On the basis of application, the AI in agriculture market is segmented into livestock monitoring, precision farming, agriculture robots, livestock monitoring, drone analytics and others.
