The global market for Artificial Intelligence (AI) in Agriculture was valued at USD 2.20 billion in 2022 and is predicted to reach USD 11.01 billion by 2030, growing at a CAGR of 22.3% during the forecast period from 2023 to 2030.
AI has emerged as a crucial technology across various industries, including agriculture, revolutionizing the sector with advancements in crop production, real-time monitoring, harvesting, processing, and marketing.
Major Market Players:
Key players in the market include Deere & Company, IBM Corporation, Microsoft Corporation, The Climate Corporation, Farmers Edge Inc., Hewlett Packard Enterprise Development LP, Cisco Systems Inc., Google LLC, Amazon Web Services Inc., Corteva Inc, AgEagle Aerial Systems Inc., Descartes Labs Inc., and others.
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Market Drivers and Opportunities:
The agriculture industry is turning to AI technologies to enhance crop yield, pest control, soil monitoring, and overall efficiency in the entire food supply chain. The shortage of labor in agriculture is a significant driver for AI adoption, with automation enabling tasks to be accomplished without requiring additional human workforce. AI-driven machines and equipment offer speed and accuracy, making them valuable replacements for human farmhands. Climate change challenges in determining optimal planting times have also led to increased AI adoption for weather forecasting and data-driven decision-making.
Precision Farming and Smart Agriculture: AI technologies, such as machine learning, computer vision, and IoT sensors, are being utilized in precision farming to optimize crop management, irrigation, fertilization, and pest control. Smart agriculture solutions enable farmers to make data-driven decisions and minimize resource wastage.
Crop Monitoring and Disease Detection: AI-powered drones, satellites, and other remote sensing technologies are used for crop monitoring and disease detection. These tools can quickly identify crop stress, diseases, and pest infestations, enabling timely interventions.
Predictive Analytics and Weather Forecasting: AI algorithms can analyze historical and real-time data to make accurate predictions about weather patterns, enabling farmers to plan their activities and mitigate risks associated with climate variability.
The Report Will Include A Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
- Investment Analysis
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In January 2022, Bayer’s flagship digital farming product, Climate FieldView™, announced new capabilities and an ongoing collaboration with Precision Planting to enhance the user experience, benefiting customers.
In December 2022, Corteva Agriscience collaborated with NEVONEX, powered by Bosch, to explore precision application of crop protection products using on-farm data, advanced analytics, and spray equipment, aiming to enable data-driven crop protection applications for farmers.
In February 2021, DroneDeploy, an enterprise drone data platform, partnered with Corteva Agriscience to assist farmers in making better management decisions throughout the year, leveraging one of the world’s largest fleets of agricultural drones.
AI in Agriculture Market Segmentation:
- Machine Learning
- Computer Vision
- Predictive Analytics
- Weather Tracking
- Precision Farming
- Drone Analytics
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Based on the Application, the Precision Farming segment is anticipated to dominate the market over the forecast period. Precision farming has become a game-changer in the agriculture industry, enabling farmers to optimize their resources and increase crop yields. This segment leverages advanced digital technologies, such as mobile apps, smart sensors, drones, and cloud computing, to collect and analyze data for automated decision-making.
The growing global population and the demand for improved food quality have driven the focus on precision farming solutions. By utilizing AI and data analytics, precision farming enables farmers to understand how various factors like weather, sunlight, wind speed, and rain will impact crop planting cycles. It allows for precise and timely actions, such as targeted irrigation and fertilization, to ensure optimal crop growth and harvest. Moreover, the rising government support for AI adoption in agriculture, particularly for small and mid-size farms, is further fueling the dominance of precision farming in the AI in Agriculture market.
For this report, Introspective Market Research has segmented the AI in Agriculture Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America is expected to dominate the AI in Agriculture market over the forecast period. The region’s dominance can be attributed to several factors, including the rise in disposable income, ongoing investments in automation, substantial IoT investments, and a focus on domestic AI equipment development by governments. The presence of major agricultural technology companies in North America, such as IBM Corporation, Deere & Company, Microsoft, Granular, Inc., and The Climate Corporation, further boosts the market.
The region’s robust industrial automation sector and thriving AI market contribute to the adoption of AI solutions in agriculture. The increased purchasing power of the population, coupled with growing government attention on domestic AI equipment production, creates a favorable environment for AI integration in the agriculture sector. Moreover, North America has been at the forefront of utilizing advanced technologies, and the agricultural industry is no exception, with a significant focus on adopting AI-based solutions to enhance productivity and efficiency.
Additionally, North America’s emphasis on precision farming and its initiatives to optimize agri-input resources without adding costs or workload benefit both large and small farmers. The region’s competitive advantage in terms of labor availability, manufacturing prices, and well-established logistical networks further reinforces its position as a dominant player in the AI in Agriculture market.
As AI technology continues to evolve, its applications in agriculture are expected to grow exponentially, with North America leading the way in innovation and implementation of AI-based solutions across the agriculture sector.
- The Czech Republic
- Rest of Eastern Europe
- Rest of Western Europe
- South Korea
- The Philippines
- New Zealand
- Rest of APAC
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of SA
Scope of the Report:
The latest research on the AI in Agriculture Market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global AI in Agriculture industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the AI in Agriculture Market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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