Global AI In Agriculture Market Size By Technology (Machine Learning, Computer Vision), By Offering (Hardware, Software), By Application (Precision Farming, Yield Monitoring), By Geographic Scope And Forecast

AI In Agriculture Market Size And Forecast

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AI In Agriculture Market size was valued at USD 0.77 Billion in 2024 and is projected to reach USD 1.61 Billion by 2031, growing at a CAGR of 9.52% from 2024 to 2031.

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• AI is transforming the agricultural industry by introducing data-driven solutions to traditional farming practices. In essence, AI employs complex algorithms to process massive volumes of data from a variety of sources, including soil sensors, meteorological data, and satellite photography. By digesting this data, AI enables farmers to acquire real-time insights about their crops and make informed decisions to maximize output and resource use.

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• Precision farming is a prominent application of artificial intelligence in agriculture. AI algorithms can evaluate data to discover the specific requirements of various sections within a profession. This enables tailored application of water, fertilizer, and pesticides, reducing waste and increasing efficiency. AI-powered irrigation systems, for example, can modify water distribution depending on real-time soil moisture levels, ensuring crops receive the appropriate amount of hydration while not overusing this valuable resource.

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• AI is also proven to be an effective tool for crop protection. Artificial intelligence-powered systems can use computer vision and machine learning to monitor plant health. By evaluating high-resolution photos, AI can detect stress, sickness, or insect infestations early. This allows farmers to take preventive actions and treat only the problematic regions, avoiding the need for broad-spectrum herbicides that might harm beneficial insects and the environment.

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• Overall, AI in agriculture is ushering in a new era of farming that is more sustainable, efficient, and profitable. As AI technology advances, we may expect even more imaginative uses that will revolutionize the agricultural environment and help to ensure global food security.

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Global AI In Agriculture Market Dynamics

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The key market dynamics that are shaping the global AI in agriculture market include:

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Key Market Drivers:

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• Advancement in Technology: The evolution of technology has spurred the development of numerous innovative applications in agriculture, facilitated by Artificial Intelligence (AI). These include advancements like weather forecasting and pest analysis, which are driving the expansion of the AI in Agriculture Market. AI is being utilized for weed detection and recommending suitable fertilizers based on soil nutrition analysis, streamlining farm operations. By monitoring soil samples, AI minimizes the need for frequent visits to agricultural stores, leading to increased output.

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• Increase in global population: As the global population continues to grow, there is increasing pressure on the agricultural sector to enhance food production. To address this demand, AI-powered solutions, such as precision farming techniques, have emerged as valuable tools for farmers.

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• These technologies empower farmers to optimize the utilization of resources such as water and fertilizer, while simultaneously maximizing crop yields. By leveraging AI, farmers can achieve higher levels of productivity and efficiency, enabling them to make better use of limited resources available.

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• Automation of Labour: AI-powered robots and automation solutions offer a promising solution by assuming some of the manual tasks traditionally performed by labourers in farming operations. These technologies can handle activities such as weeding, harvesting, and monitoring livestock, thereby alleviating the burden on human labour.

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• Sustainability Concern: There is a growing emphasis on sustainability and environmental considerations within the agricultural sector, driven by increasing consumer concerns about the ecological footprint of farming practices. In response, AI-powered solutions have emerged as valuable tools for farmers to mitigate their environmental impact. These technologies enable farmers to optimize resource usage, such as water, pesticides, and fertilizers, while promoting sustainable farming methods.

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• Government Initiative: Governments worldwide are acknowledging the potential of AI in agriculture and are taking proactive steps to facilitate its adoption. These initiatives encompass various forms of support, including subsidies, research grants, and educational programs aimed at equipping farmers with the knowledge and tools to effectively integrate AI technologies into their operations. This concerted effort underscores the recognition of AI as a transformative force in modernizing the agricultural sector and meeting the challenges of food security and sustainability.

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Key Challenges:

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• Lack of Awareness: The growth of the AI in Agriculture Market may face limitations due to a lack of awareness among people, particularly in developing and underdeveloped countries. Additionally, a dearth of knowledge regarding AI-enabled devices is impeding market expansion.

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• Data availability: Data availability and quality present significant challenges for the effective implementation of AI in agriculture. While AI relies heavily on data, numerous farms lack the necessary infrastructure to collect and store large datasets. Furthermore, even when data is available, it may be fragmented, inconsistent, or incomplete, further hindering the effectiveness of AI algorithms.

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• Cost of Implementation: The cost of implementing AI solutions, which encompasses expenses related to hardware, software, and expertise, can pose a significant financial burden, particularly for smaller farms. This initial investment may be substantial and could serve as a deterrent for farmers operating within narrow profit margins.

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• Privacy and security: The utilization of AI technologies in farming entails the collection of farm data, which often contains sensitive information. Farmers may express apprehensions regarding potential risks related to data privacy and security breaches. These concerns stem from the vulnerability of farm data to unauthorized access or misuse, raising questions about the protection of confidential information.

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• Technical Expertise: Successful deployment and utilization of AI technologies often necessitate a specific level of technical proficiency. In rural areas, farmers may encounter challenges as they lack the in-house expertise required to operate and maintain complex AI systems. This deficiency in technical knowledge may impede the adoption and utilization of AI solutions.

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 Key trends:

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• Precision Agriculture with AI and Drones: AI analyses data collected by drones equipped with high-resolution cameras and sensors, revealing details about crop health, soil conditions, and field characteristics. Farmers can use this information for targeted interventions, such as precision irrigation or localized pesticide application, optimizing resource use and yield.

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• Rise of Autonomous Vehicles: Driverless tractors are now a reality, utilizing GPS technology to navigate fields, recognize boundaries, and operate farm implements. This innovation can potentially boost farm revenue by reducing labor costs and enabling longer operating hours.

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• Rise of AI powered Services: The demand for AI-powered services for farmers is rapidly increasing. These services assist farmers in managing data from various sensors, tracking operations, and gaining valuable insights to enhance decision-making. By leveraging AI, farmers can optimize their practices, leading to improved efficiency and productivity in their agricultural operations.

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• Sustainability: Increasing emphasis is being placed on using AI for sustainable farming practices. AI helps optimize resource utilization, reduce waste, and minimize environmental impact through targeted irrigation and reduced pesticide use.

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Global AI In Agriculture Market Regional Analysis

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Here is a more detailed regional analysis of the global AI in agriculture market:

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North America:

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• North America has a strong foundation in industrial automation, making it well-suited to embrace AI solutions. Farmers in the region have higher purchasing power and are more open to adopting new technologies such as AI and the Internet of Things (IoT) for agriculture.

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• The government initiatives support the in-house development and adoption of AI equipment for farming. The region also boasts a thriving Ag-Tech scene, with leading agricultural technology providers like Deere & Company and Microsoft, as well as numerous startups specializing in AI for agriculture.

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• The North American AI market in agriculture is characterized by collaborations between technology providers, agriculture companies, research institutions, and startups. These partnerships foster innovation and the development of AI-driven solutions tailored to the specific needs of the region’s agricultural sector. Additionally, investments in and partnerships with AI startups further drive market growth and technological advancements.

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Asia-Pacific:

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• The Asia-Pacific region is expected to experience significant growth during the forecast period, driven by the expanding use of AI tools in farming. India and China, two of the world’s fastest-growing economies, are increasingly adopting AI technologies such as remote monitoring and predictive analysis in the agricultural sector.

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• Additionally, the rising demand for smart cities in these economies is encouraging agribusiness enterprises to implement AI-powered solutions and services. Notably, China is seeing a substantial increase in the adoption of AI solutions in agriculture, largely due to the Alibaba Group’s entry into the agricultural market with its AI technology designed to support small farmers.

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• Government initiatives in the region are actively promoting the adoption of AI in agriculture through subsidies and research programs. This proactive approach is expediting the development and implementation of AI solutions tailored for farms.

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Global AI In Agriculture Market: Segmentation Analysis

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The Global AI In Agriculture Market is Segmented on the basis of Technology, Offering, Application, And Geography.

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AI In Agriculture Market, By Technology

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• Machine Learning

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• Computer Vision

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• Predictive Analytics

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Based on Technology, the market is segmented into Machine Learning, Computer Vision, and Predictive Analytics. The machine learning segment is poised to dominate the AI in the Agriculture Market by technology, holding the largest share. This growth is driven by the widespread adoption of machine learning-enabled solutions by agricultural organizations and farmers worldwide. Moreover, farm management systems are evolving into comprehensive artificial intelligence systems through the integration of machine learning for analyzing sensor data, thus enhancing production capabilities. As a result, the machine learning and deep learning market is expected to witness significant expansion.

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 AI In Agriculture Market, By Offering

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• Hardware

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• Software

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• Service

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Based on Offering, the market is segmented into Hardware, Software, and Service. Among this entire segmentation, the Software segment is expected to hold the largest share of the AI In Agriculture Market due to the increasing use of software to improve farm efficiency and the growing demand for real-time data management systems. Some well-known examples of software based on predictive analytics are the Watson Decision Platform from IBM Corporation, the AI Sowing App from Microsoft, and the See and Spray pesticide and herbicide distribution systems from Deere & Company.

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 AI In Agriculture Market, By Application

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• Precision Farming

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• Yield Monitoring

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• Field Mapping

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• Crop Scouting

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• Weather Tracking and Forecasting

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• Irrigation Management

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• Livestock Monitoring

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• Drone Analytics

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• Agriculture Robots

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Based on Application, the market is segmented into Precision Farming, Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Livestock Monitoring, Drone Analytics, and Agriculture Robots. During the forecasted period, the Precision Farming segment is anticipated to experience the highest Compound Annual Growth Rate (CAGR), primarily due to its widespread utilization for mapping, diagnosing crop health, and facilitating real-time decision-making. Precision farming stands out as one of the fastest-growing agricultural AI applications, assisting farmers in optimizing resources and reducing costs.

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AI In Agriculture Market, By Geography

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• North America

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• Europe

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• Asia Pacific

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• Rest of the World

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On the basis of regional analysis, the Global AI In Agriculture Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is projected to dominate the market share throughout the forecasted period. This is attributed to the widespread adoption of AI technology and crop management practices by large-scale agricultural players, aimed at enhancing the speed and accuracy of planting. The region benefits from factors such as increased purchasing power among the population, continuous advancements in automation, substantial investments in the Industrial Internet of Things, and growing governmental focus on domestic production of AI equipment.

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Key Players

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The “Global AI In Agriculture Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Agribotix, Bayer CropScience AG, Case IH Agriculture, ClearAg Operations, Deere & Company, Farmers Edge Inc., Granular AG, Grownetics Inc., IBM, Mapshots Inc., SST Software. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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AI In Agriculture Market Recent Developments

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• In June 2023, Carbon Robotics received recognition at the AI Breakthrough Awards for their LaserWeederTM, acclaimed as the Best AI-based Solution for Agriculture. This groundbreaking technology, the market’s pioneer laser weeding robot, has successfully eliminated over one billion weeds. Harnessing the power of AI, lasers, computer vision, and robotics, it offers precise weed management.

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• In November 2022, DJI Agriculture introduced the Mavic 3 Multispectral, featuring a cutting-edge multispectral imaging system. This device rapidly captures crop growth data, aiming to enhance crop production efficiency. By catering to the needs of precision agriculture and environmental monitoring, it assists farmers worldwide in reducing costs and boosting income.

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• In October 2022, Microsoft Research made FarmVibes.AI open-sourced. This suite of technologies and machine-learning algorithms prioritizes sustainable agriculture. FarmVibes.AI integrates diverse data types, including weather forecasts, satellite imagery, and drone footage, to elevate agricultural practices.

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Report Scope

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Research Methodology of Market Research:

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Reasons to Purchase this Report

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Provision of market value (USD Billion) data for each segment and sub-segment
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• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
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• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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