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Ai In Agriculture Market is estimated to reach USD 6.5 billion in 2029, registering 23.1% CAGR | Size, Share & Forecast.
Ai In Agriculture Market
The Ai In Agriculture Market was valued around USD 1.2 billion in 2021, and is expected to reach USD 6.5 billion by 2029, expanding at a CAGR of 23.1% over the forecast period.
For Additional Insights, Click to Access Complete Report – https://www.gmiresearch.com/report/artificial-intelligence-in-agriculture-market/
The factors driving the growth of Ai In Agriculture Market includes growing concerns related to food security and climate change, rising focus by farmers on enhancing productivity and yield, limited arable land and increasing demand for drones around the world. According to the report published by United Nations Food and Agriculture Organization, approximately 193 million people in 53 countries experienced acute food insecurity at crisis in 2021, showing an increase of around 40 million as compared to 2020 and on-going Russia-Ukraine conflict is pushing countries to adopt smart agricultural solutions. Moreover, rise in the number of Agri-tech start-ups across the globe, growing adoption of precision farming, increasing application of computer vision technology for monitoring health of the crop, plant image recognition and rapid urbanization, are some of the additional factors supplementing the Global Ai In Agriculture Market. In addition, the increasing investments by leading players on research and development, strategic mergers and partnerships between key industry players, improvements in the living standards and growing population growth rates, are further contributing towards the market growth.
However, growth of the Ai In Agriculture Market is hindered due to inadequate knowledge amongst farmers about advanced technologies in developing countries.
The major players operating in the market are GAMAYA, The Climate Corporation (Subsidiary of Monsanto), Granular Inc., Descartes Labs, Inc., IBM Corporation, Deere & Company, Microsoft Corporation, Prospera Technologies, AgEagle Aerial Systems Inc. and Taranis, aWhere Inc., among others.
Based on Technology, the Computer Vision segment is predicted to grow at a significant CAGR during the forecast period
Computer vision technology is increasingly used to detect deficiency or disease in plants and monitoring crop’s health, are some of the factors responsible for segment’s growth.
Based on Application, the Precision Farming segment is projected to capture the largest market share over the forecast period
Precision farming collects data through artificial intelligence, improves overall harvest quality and accuracy and reduces cost for farmers, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Growing demand for artificial intelligence enabled drones in the agriculture sector, rise in Government’s expenditure on agricultural research, improved living standards, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the Ai In Agriculture Market size in Asia-Pacific region.
Key Developments
In Fen 2019, Prospera Technologies, partnered with Valmont Industries, Inc., a product and service provider for infrastructure and equipment for agriculture. This partnership to deliver farmers with autonomous crop management solutions, thereby generating higher revenues even from fewer production inputs and capitals.
In Jul 2018, AgEagle acquired Agribotix, an agriculture analytical company, to expand its imagery and data analytics offerings, this acquisition will integrate Agribotix’s FarmLens data analytics platform within AgEagle’s service offerings.
Market Segmentation
Segmentation by Offering
Hardware
Processor
Storage Device
Network
Software
AI Platform
AI Solution
AI-as-a-Service
Service
Deployment and Integration
Support and Maintenance
Segmentation by Technology
Machine Learning
Computer Vision
Predictive Analytics
Segmentation by Application
Precision Farming
Yield Monitoring
Field Mapping
Crop Scouting
Weather Tracking and Forecasting
Irrigation Management
Livestock Monitoring
Drone Analytics
Agriculture Robots
Other Applications
Smart Greenhouse Applications
Soil Management
Moisture Monitoring
Nutrient Monitoring
Fish Farming Application
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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