Global Artificial Intelligence (AI) in Agriculture Market, By Offering (Hardware, Software, and Service and Artificial Intelligence-as-a-Service), Technology (Predictive Analytics, Machine Learning, and Computer Vision), Application (Livestock Monitoring, Precision Farming, Agriculture Robots, Livestock Monitoring, and Drone Analytics) – Industry Trends and Forecast to 2030.
Artificial Intelligence (AI) in Agriculture Market Analysis and Size
Rising globalization and growth in adopting new advanced technologies by the agricultural industry will emerge as the major market growth driving factors. Growing demand for high-quality agricultural production, supportive government policies and initiatives to promote modern farming tools and techniques, and widespread industrialization will further aggravate the market value. Growing expenditure to undertake research and development proficiencies and surging usage of drones in agricultural farms will further carve the way for market growth.
Data Bridge Market Research analyses that the artificial intelligence (AI) in agriculture market, which was USD 1.55 billion in 2022, is likely to reach USD 4.65 billion by 2030, and is expected to undergo a CAGR of 16.13% during the forecast period. “Hardware” dominates the offering segment of the market owing to the growing demand for the installation of devices across various industries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Artificial Intelligence (AI) in Agriculture Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Offering (Hardware, Software, and Service and Artificial Intelligence-as-a-Service), Technology (Predictive Analytics, Machine Learning, and Computer Vision), Application (Livestock Monitoring, Precision Farming, Agriculture Robots, Livestock Monitoring, and Drone Analytics)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa
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Market Players Covered
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Hewlett Packard Enterprise Development LP (U.S.), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Microsoft (U.S.), Amazon Web Services Inc. (U.S.), Oracle (U.S.), Google LLC (U.S.), Broadcom (U.S.), Descartes Labs, Inc. (U.S.), Wipro Limited. (India), Deere & Company (U.S.), Granular, Inc. (U.S.), aWhere Inc. (U.S.), The Climate Corporation (U.S.), Agribotix LLC (U.S.), Tule Technologies Inc (U.S.), Prospera Technologies (Israel), CropX inc. (Israel), Harvest CROO Robotics LLC. (U.S.) and FarmBot (U.S.) among others
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Market Opportunities
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Market Definition
Artificial intelligence refers to the science and engineering associated with designing intelligent computer systems capable of replicating or exhibiting human-like intelligence (natural intelligence) and directly executing tasks, such as analyzing and making judgments and decisions without any human interference. The digital voice assistants that reside in our smartphones or smart speakers, customer support chat-bots, and industrial robots are all examples of artificial intelligence.
Artificial Intelligence (AI) in Agriculture Market Dynamics
Drivers
- Growing Demand for High Quality Agricultural Production
The world population is expected to grow by over a third, or 2.3 billion people, between 2009 and 2050. This is a much slower growth rate than the one seen in the past four decades, during which it grew by 3.3 billion people or more than 90%. This will create a demand for food products and simultaneously increases the need for agricultural process, which requires tools and equipment. Furthermore, this is expected to drive the usage of AI to improve the quality of crops.
- Supportive Government Policies and Initiatives to Promote Modern Agricultural Tools and Techniques
Nowadays, the government of many countries such as India, China, Japan, and others is prioritizing farmers' welfare more. In this regard, it is implementing several farmers welfare schemes to revitalize the agriculture sector and to improve their economic conditions. Therefore, the government has rolled out new initiatives, schemes, programs, and plans to benefit all the farmers.
Opportunity
- Surging Usage of Drones in Agricultural Farms
Safety culture is a general approach to the organization’s safety management. It blends an effort made by groups and individuals regarding attitudes, proficiency, values, and goals of a company’s safety program. Companies with a culture of safety demonstrate a vital concern for their employee’s safety and well-being. The safety culture must be pervasive throughout all departments and levels. Management needs to observe the atmosphere by spending time around their facilities. They will need to monitor procedures and positively reinforce company guidelines and values. This will create a better opportunity for using artificial intelligence (AI) in agriculture systems in companies and enhance the security for both employers and employees.
Restraints/Challenges
- Large-scale Technological Limitations in the Underdeveloped Economies
Technological advances associated with the fourth industrial revolution, including artificial intelligence, allow the automation of an increasingly wide array of processes in increasingly interactive and sophisticated ways. These advances will likely give rise to many economic and social development opportunities in developing countries, for instance, by increasing food production. They may build upon and exacerbate existing inequalities within developing countries and between developing and more developed regions. Three of these interrelated risks are worsening unemployment, increasing economic power and wealth concentration, and the spread of biases in influential algorithms.
This global artificial intelligence (AI) in agriculture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global artificial intelligence (AI) in agriculture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth
Recent Developments
- In April 2023, IBM and Texas A&M AgriLife collaborated to provide farmers with water consumption insights, which can boost agricultural productivity while lowering economic and environmental expenses. Texas A&M AgriLife and IBM will deploy and grow Liquid Prep, a technology solution that helps farmers decide "when to water" in dry parts of the U.S.
- In October 2022, Microsoft announced, FarmVibes open-sourced by Microsoft Research.AI, a collection of machine-learning models and technologies for sustainable agriculture. FarmVibes. AI comprises data processing methods for merging spatiotemporal and geographic data, such as weather data and satellite and drone footage.
Global Artificial Intelligence (AI) in Agriculture Market Scope
The global artificial intelligence (AI) in the agriculture market is segmented on the basis of offering, technology, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications
Offering
- Hardware
- Software
- Services
- Artificial Intelligence-as-a-Service
Technology
- Predictive Analytics
- Machine Learning
- Computer Vision
Application
- Livestock Monitoring
- Precision Farming
- Agriculture Robots
- Livestock Monitoring
- Drone Analytics
- Others
Artificial Intelligence (AI) in Agriculture Market Regional Analysis/Insights
The market is analysed, and market size insights and trends are provided by country, offering, technology, and application as referenced above.
The countries covered in the artificial intelligence (AI) in agriculture market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa.
North America accounted for the largest market share due to the increased spending capacity of consumers for smart electronics, which is augmenting the market demand.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Artificial Intelligence (AI) in Agriculture Market Share Analysis
The global artificial intelligence (AI) in agriculture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial intelligenc (AI) in agriculture market.
Some of the major players operating in the market are:
- Hewlett Packard Enterprise Development LP (U.S.)
- Cisco Systems, Inc. (U.S.)
- IBM Corporation (U.S.)
- Microsoft (U.S.)
- Amazon Web Services Inc. (U.S.)
- Oracle (U.S.)
- Google LLC (U.S.)
- Broadcom (U.S.)
- Descartes Labs, Inc. (U.S.)
- Wipro Limited. (India)
- Deere & Company (U.S.)
- Granular, Inc. (U.S.)
- aWhere Inc. (U.S.)
- The Climate Corporation (U.S.)
- Agribotix LLC (U.S.)
- Tule Technologies Inc (U.S.)
- Prospera Technologies (Israel)
- CropX inc. (Israel)
- Harvest CROO Robotics LLC. (U.S.)
- FarmBot (U.S.)
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