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(IT-NEWSWIRE.COM, August 15, 2024 ) Pune, 15, August 2024: The Global AI in Agriculture Market was valued at USD 2.69 billion in 2023 and is expected to reach USD 16.71 billion by 2032, with a CAGR of 22.5% From 2024- 2032.
AI in Agriculture refers to the application of artificial intelligence technologies, such as machine learning, robotics, and data analytics, to enhance agricultural practices. These technologies help optimize crop yield, monitor crop health, automate farming processes, and improve resource management. AI is used for precision farming, predictive analytics, and decision-making, leading to increased efficiency and sustainability in agriculture. The AI in Agriculture market is growing rapidly, driven by the rising demand for smart farming solutions, the need to increase agricultural productivity, and the adoption of advanced technologies. Key areas include crop monitoring, soil management, predictive maintenance of equipment, and livestock monitoring.
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AI in Agriculture Key Competitors include:
Deere & Company (US)
IBM Corporation (US)
Microsoft Corporation (US)
The Climate Corporation (US)
Farmers Edge Inc. (Canada)
Hewlett Packard Enterprise Development LP (US)
Cisco Systems Inc. (US)
Google LLC (US)
Amazon Web Services Inc (US)
Corteva Inc (US), and other major players.
AI in Agriculture Market Dynamics
The AI in agriculture market is driven by the need for increased efficiency and productivity in farming practices. AI technologies, such as machine learning, computer vision, and robotics, are being adopted to optimize crop monitoring, soil management, and predictive analytics. Key factors include the rising demand for food due to population growth, labor shortages, and the need for sustainable agricultural practices. However, challenges like high costs, data privacy concerns, and the lack of skilled professionals limit market growth. Innovations in precision farming and the integration of IoT with AI offer significant opportunities.
AI in Agriculture Market Regional Insights
The North American economy is marked by growing disposable incomes, continuous investment in automation, and significant advancements in the Internet of Things (IoT). Governments in the region are increasingly prioritizing the development of domestic AI equipment. This has led to a thriving artificial intelligence market and a leading industrial automation sector. The rising purchasing power of the population, coupled with ongoing automation initiatives and robust IoT investments, continues to drive growth. Additionally, the focus on enhancing domestic AI capabilities underscores the region's commitment to maintaining its technological leadership.
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AI in Agriculture Market Segment Analysis
By Application
Weather Tracking
Precision Farming
Drone Analytics
Based on the Application market is segmented into Weather Tracking, Precision Farming, and Drone Analytics. The Precision Farming segment is expected to dominate the AI in Agriculture market due to its ability to enhance crop management, optimize resource usage, and increase yields. AI-driven technologies, such as machine learning and data analytics, enable precise monitoring and control of agricultural processes. This includes soil analysis, crop health assessment, and irrigation management, leading to more efficient and sustainable farming practices. The growing demand for food security and the need to maximize productivity on limited arable land are driving the adoption of AI in precision farming.
By Type
Solution
Service
By Deployment
Cloud
On-premise
Hybrid
By Technology
Machine Learning
Computer Vision
Predictive Analytics
GLOBAL AI IN AGRICULTURE MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
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Key questions answered in the AI in Agriculture Market report are:
Which market segment dominated the global AI in Agriculture market in 2023?
What are the current global trends in the AI in Agriculture market?
What future industry applications and trends are emerging in the AI in Agriculture market?
What growth strategies are companies adopting to expand their presence in the AI in Agriculture market?
Who are the leading companies in the AI in Agriculture market, and what are their product portfolios?
What are the primary challenges that the AI in Agriculture market may face in the future?
Which region had the largest share of the AI in Agriculture market in 2023?
How is the regulatory environment influencing the AI in Agriculture market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
AI in Agriculture Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
AI in Agriculture Market Segmentation
Competitive Landscape – Profiles of selected key players in a strategic perspective
Competitive landscape – Competitive Benchmarking AI in Agriculture Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
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