Artificial Intelligence in Agriculture Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

Artificial Intelligence in Agriculture Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global artificial intelligence in agriculture market provides qualitative and quantitative analysis for the period from 2021-2030. The global artificial intelligence in agriculture market was valued at USD 852.15 million in 2022 and is expected to reach USD 5390.14 million in 2030, with a CAGR of 22.40% during the forecast period 2023-2030. The study on artificial intelligence in agriculture market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The integration of Artificial Intelligence (AI) into agriculture is fundamentally reshaping modern farming and agribusiness practices. AI technologies, encompassing machine learning, computer vision, data analytics, and automation, are becoming pivotal tools to address the critical challenges faced by the agriculture sector. These challenges range from the need to increase food production to efficiently manage resources and promote sustainability. ""AgTech,"" the application of artificial intelligence in agriculture leverages data-driven decision-making to revolutionize various aspects of farming, including crop management, livestock care, and supply chain logistics. This paradigm shift ushers in an era of precision agriculture, empowering farmers to make well-informed, real-time decisions that enhance crop yields, reduce waste, conserve resources, and maintain the overall health of agricultural ecosystems.

Market growth in AI for agriculture is primarily driven by the increasing global population and the growing scarcity of resources. With the world's population steadily rising, there is a heightened demand for food production. AI offers the means to optimize agricultural practices efficiently to meet this escalating demand. Furthermore, the challenges posed by climate change and environmental pressures have intensified the demand for AI in agriculture. Unpredictable weather patterns, extreme temperatures, and shifting pest dynamics are significant concerns for the industry. AI can provide predictive and adaptive solutions to mitigate these risks and enhance the resilience of farming operations. Additionally, AI enables the efficient management of scarce resources, such as water and arable land, through precision agriculture techniques, leading to improved sustainability and reduced resource wastage. However, the implementation of AI technologies in agriculture often requires substantial initial investments in hardware, software, sensors, and infrastructure, which can act as a constraint to market growth. Despite that, the continuous advancements in AI technologies present significant opportunities in agriculture, including the use of AI-powered robotics and drones for precise tasks like planting, harvesting, and crop monitoring.

North America is expected to hold a significant market share in the forthcoming forecast period. This is attributable to the region's robust and dynamic technology ecosystem, particularly in the United States. It hosts leading tech companies, renowned research institutions, prestigious universities, and a vibrant startup culture that actively contributes to AI innovation in agriculture. Silicon Valley, in particular, serves as a prominent hub for technological advancements. Furthermore, North America's culture of innovation and entrepreneurship fosters experimentation and risk-taking, resulting in a burgeoning number of startups and companies dedicated to developing AI solutions for agriculture. Additionally, the region attracts substantial investments in AI and agriculture-related startups from venture capital firms and corporate investors, providing the necessary funding to drive research and development in AI for agriculture. The Asia-Pacific (APAC) region is poised to experience the fastest growth in the AI in agriculture market. APAC boasts a significant share of the world's agricultural land and a large population dependent on agriculture for their livelihoods and food supply. The sheer scale of agriculture in the region presents a compelling opportunity for AI technologies to make a substantial impact.

Report Findings

1) Drivers

Increasing global population and growing resource scarcity are responsible for market growth.

Climate change and environmental pressures have led to a surge in demand for AI in agriculture.

2) Restraints

The implementation of AI technologies in agriculture often requires substantial initial investments in hardware, software, sensors, and infrastructure, which can pose a constraint to market growth.

3) Opportunities

The continuous advancements in AI technologies present significant opportunities in agriculture, such as use of ai-powered robotics and drones for precise tasks like planting, harvesting, and crop monitoring.

Research Methodology

A) Primary Research

Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

1. Key Opinion Leaders associated with Infinium Global Research

2. Internal and External subject matter experts

3. Professionals and participants from the industry

Our primary research respondents typically include

1. Executives working with leading companies in the market under review

2. Product/brand/marketing managers

3. CXO level executives

4. Regional/zonal/ country managers

5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications

2. Government/institutional publications

3. Trade and associations journals

4. Databases such as WTO, OECD, World Bank, and among others.

5. Websites and publications by research agencies

Segment Covered

The global artificial intelligence in agriculture market is segmented on the basis of technology, offering, and application.

The Global Artificial Intelligence in Agriculture Market by Technology

Machine Learning

Computer Vision

Predictive Analytics

The Global Artificial Intelligence in Agriculture Market by Offering

Software

AI-as-a-Service

The Global Artificial Intelligence in Agriculture Market by Application

Drone Analytics

Precision Farming

Others

Company Profiles

The companies covered in the report include

Deere & Company

IBM Corporation

Microsoft Corporation

Climate LLC

Farmers Edge Inc.

AgEagle Aerial Systems Inc

Descartes Labs Inc.

Tule Technologies Inc

Precision Hawk

Taranis

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the artificial intelligence in agriculture market.

2. Complete coverage of all the segments in the artificial intelligence in agriculture market to analyze the trends, developments in the global market and forecast of market size up to 2030.

3. Comprehensive analysis of the companies operating in the global artificial intelligence in agriculture market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.