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Artificial Intelligence In Agriculture Market To Garner Massive Recognition In The Years To Come | Grand View Research, Inc.

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Artificial Intelligence In Agriculture Market To Garner Massive Recognition In The Years To Come | Grand View Research, Inc.

March 26
07:06 2021
Artificial Intelligence In Agriculture Market To Garner Massive Recognition In The Years To Come | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
The continued increase in demand for food products across the globe due to rising population, coupled with growing technological awareness among farmers, has created a positive growth environment for AI in the agriculture market, according to an expansive study by Grand View Research.

The global artificial intelligence in agriculture market size is projected to reach USD 2.9 billion by 2025, as per a report by Grand View Research, Inc. The industry is anticipated to advance at a substantial CAGR of 25.4% over the forecast period. AI solutions in the agricultural industry are emerging in various forms, such as soil and crop monitoring, agricultural robots, and predictive analytics. This has proved to be hugely beneficial for farmers and agribusiness corporations, who are utilizing soil sampling and AI-enabled sensors for data gathering for better analysis and processing. The availability of such data has paved the way for the deployment of artificial intelligence in agriculture and farming practices. The exponential rise in global population over the past few years has created a huge strain on food resources, which has necessitated efficient production techniques for economies. This is subsequently expected to create a positive environment for the integration of AI in the agricultural and farming sector.

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. Several benefits of artificial intelligence, such as prevention of cost overruns, weather forecasting, remote monitoring, weed detection, and irrigation management encourages the implementation of AI in agriculture for increased productivity. The technology aids in yielding healthier crops, controlling pests, monitoring the soil and growing conditions, and offering all this data to the farmers and landowners in an actionable form. For example, PEAT, a technology start-up based in Germany, has developed ‘Plantix’, an AI-based application, which helps to determine nutrient deficiencies in soil, while aiding farmers to improve the quality of harvest. Favorable approach to this field by governments across the globe has helped in the exponential growth of the industry in recent years. 

Artificial intelligence in Agriculture Market Report Highlights

 The global population is expected to reach 9.8 billion by 2050, according to the UN. This is projected to require an increase of 70% in agriculture production, in order to meet the demand for food, which presents an excellent opportunity to AI for helping in efficient crop production, storage, and distribution in coming years

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

Favorable regulations & standards in major countries encourage the implementation of modern techniques in agriculture. For instance, in July 2019, the government of India started using AI for yield estimation and crop cutting, in order to cut down the cost of farming and increase productivity

In terms of application, precision farming has emerged as one of the fastest-growing segments in recent years in the artificial intelligence in agriculture market, as it aids farmers in minimizing costs and optimizing resources effectively

Key competitors in the market are IBM, Microsoft, Deere & Company, AgEagle Aerial Systems, The Climate Corporation, Granular, Inc., Descartes Labs, Prospera Technologies, Taranis, GAMAYA, ec2ce, PrecisionHawk, VineView, and Tule Technologies Inc., among others

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

In February 2021, The Climate Corporation announced a global agreement with Horsch, a specialist in on-farm technology. The development involves seamless connection of the former’s Climate FieldView platform for farmers utilizing Horsch seeders, planters and other implements

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Artificial intelligence in Agriculture Market Segmentation

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

Artificial Intelligence in Agriculture Component Outlook (Revenue, USD Million, 2014 – 2025)

     Hardware
     Software
     Service

Artificial Intelligence in Agriculture Technology Outlook (Revenue, USD Million, 2014 – 2025)

     Machine Learning & Deep Learning
     Predictive Analytics
     Computer Vision

Artificial Intelligence in Agriculture Application Outlook (Revenue, USD Million, 2014 – 2025)

     Precision Farming
     Drone Analytics
     Agriculture Robots
     Livestock Monitoring
     Others

Artificial Intelligence in Agriculture Regional Outlook (Revenue, USD Million, 2014 – 2025)

     North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
    • Middle East & Africa

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About Grand View Research

Grand View Research is a market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company’s expansive database offers in-depth analysis across a range of industries such as chemicals, F&B, energy, healthcare, and technology, among others.

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-in-agriculture-market

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