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Artificial Intelligence Market in Agriculture Industry by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43307
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The artificial intelligence (AI) market in agriculture market share is expected to increase by USD 458.68 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 23.34%.

This artificial intelligence (AI) market in agriculture market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers artificial intelligence (AI) market in agriculture market segmentations by application (robotics, crop and soil management, and animal husbandry) and geography (North America, Europe, APAC, South America, and MEA). The artificial intelligence (AI) market in agriculture market report also offers information on several market vendors, including Ag Leader Technology, aWhere Inc., Corteva Inc., Deere & Co., DTN LLC, GAMAYA, International Business Machines Corp., Microsoft Corp., Raven Industries Inc., and Trimble Inc. among others.

What will the Artificial Intelligence (AI) Market In Agriculture Market Size be During the Forecast Period?

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Artificial Intelligence (AI) Market In Agriculture Market: Key Drivers, Trends, and Challenges

Maximizing profits in farm operations is notably driving the artificial intelligence (AI) market in agriculture market growth, although factors such as technical difficulties in developing AI technologies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial intelligence (AI) market in the agriculture market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Artificial Intelligence (AI) Market In Agriculture Market Driver

Maximizing profits in farm operations is a major driver fueling the artificial intelligence market in agriculture market growth. To increase profits in farm operations, the yield and output of crops and animals must be maximized, respectively. AI technology incorporated in the form of robots, drones, crop management systems, and herd management tools enables farms to monitor and regulate remote operations and provide logical data to analyze several aspects of an agriculture farm. Smart or precision agriculture is rapidly emerging as a technology that will help farmers to enhance the deliverables in agriculture. With AI technologies on the rise, farmers can control and monitor the equipment, crop, and livestock through their smartphones and also receive statistical predictions for crops and livestock. Smart sensors, satellite imagery, and other cloud-based technologies are highly beneficial to observe and record data during crop planting and harvesting, thereby maximizing production output and minimizing the cost of resources wasted. In animal husbandry, advanced AI technologies, through sensors and visual imaging, can quickly analyze the health and physical well-being of a particular animal and flag deviations in case of any disease or ailment. In this way, the animal can be treated in due course of time without spreading the infection to other animals. Such timely monitoring also saves money, as the farmers need not wait for any symptom to arise in detecting abnormal animal health and take minor precautionary steps to induce recovery in the affected animal.

Key Artificial Intelligence (AI) Market In Agriculture Market Trend

Maximizing profits in farm operations is a major trend influencing the artificial intelligence market in agriculture market growth. To increase profits in farm operations, the yield and output of crops and animals must be maximized, respectively. AI technology incorporated in the form of robots, drones, crop management systems, and herd management tools enable farms to monitor and regulate remote operations and provide logical data to analyze several aspects of an agriculture farm. Smart or precision agriculture is rapidly emerging as a technology that will help farmers to enhance the deliverables in agriculture. With AI technologies on the rise, farmers can control and monitor the equipment, crop, and livestock through their smartphones and also receive statistical predictions for crops and livestock. Smart sensors, satellite imagery, and other cloud-based technologies are highly beneficial to observe and record data during crop planting and harvesting, thereby maximizing production output and minimizing the cost of resources wasted.  In animal husbandry, advanced AI technologies, through sensors and visual imaging, can quickly analyze the health and physical well-being of a particular animal and flag deviations in case of any disease or ailment. In this way, the animal can be treated in due course of time without spreading the infection to other animals. Such timely monitoring also saves money, as the farmers need not wait for any symptom to arise in detecting abnormal animal health and take minor precautionary steps to induce recovery in the affected animal.  

Key Artificial Intelligence (AI) Market In Agriculture Market Challenge

Technical difficulties in developing AI technologies are a major hindrance to the artificial intelligence market in agriculture market growth. AI-based technologies such as deep learning require voluminous data, as their knowledge base before these can be interpreted in real-time to make decisions. Acquisition of this data is an arduous process and may even be unethical. Also, smaller start-ups that specialize in AI may possess higher technical skills than large multinational companies such as Google or Microsoft but lack the funds to collect the necessary data. ?At present, AI is unable to multitask but can execute and adapt well to any situation that it may encounter while performing a single pre-programmed function rather than working for multiple functions with a re-programmable configuration. This is because the current neural network system cannot handle multiple functions simultaneously. Thus, more innovation is required to augment its functioning. Projects that are developing progressive neural networks are in the pipeline, which will allow the connection and communication of several deep learning systems for the transmission of new information and negate the need for re-programming.?

This artificial intelligence (AI) market in agriculture market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global artificial intelligence (AI) market in the agriculture industry as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the artificial intelligence (AI) market in the agriculture market during the forecast period.

Who are the Major Artificial Intelligence (AI) Market In Agriculture Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Ag Leader Technology
  • aWhere Inc.
  • Corteva Inc.
  • Deere & Co.
  • DTN LLC
  • GAMAYA
  • International Business Machines Corp.
  • Microsoft Corp.
  • Raven Industries Inc.
  • Trimble Inc.

 

This statistical study of the artificial intelligence (AI) market in agriculture market encompasses successful business strategies deployed by the key vendors. The artificial intelligence (AI) market in agriculture market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The artificial intelligence (AI) market in agriculture market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Artificial Intelligence (AI) Market In Agriculture Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the artificial intelligence (AI) market in agriculture market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global industrial machinery includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Artificial Intelligence (AI) Market In Agriculture Market?

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38% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for artificial intelligence (AI) market in the agriculture market in North America. Market growth in this region will be faster than the growth of the market in regions.

Higher adoption of robots in agriculture will facilitate the artificial intelligence (AI) market in agriculture market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic had a negative impact on the agriculture industry in the region and led to the closure of several manufacturing plants in the US in 2020. This adversely affected the demand for AI solutions in the agriculture industry in the same year, which, in turn, hindered the growth of the market in focus in the region. However, AI solution providers in the agriculture industry are resuming their operations in strict adherence to safety guidelines with the ease of the lockdowns and vaccination protocols to bring business activities back to normal. This is expected to increase the demand for AI solutions in the agriculture industry during the forecast period.

What are the Revenue-generating Application Segments in the Artificial Intelligence (AI) Market In Agriculture Market?

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The artificial intelligence (AI) market in the agriculture market share growth in the robotics segment will be significant during the forecast period. ?Scaling up farm operations to match the exponential increase in consumption will drive the need for automation technologies in farms. Farmers around the world are also realizing the benefits associated with automating their operations. We expect the personal benefits, such as time-saving, flexibility, quality, and reliability, to play a major role in the higher adoption of agriculture robots in dairy farms. Robots and drones have become an integral part of agriculture farms and are assisting farm owners to improve the yield and product quality while addressing the rising supply needs.  

Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the artificial intelligence (AI) market in agriculture market size and actionable market insights on post-COVID-19 impact on each segment.

 

Artificial Intelligence (AI) Market In Agriculture Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 23.34%

Market growth 2021-2025

$ 458.68 million

Market structure

Fragmented

YoY growth (%)

21.39

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 38%

Key consumer countries

US, China, UK, Germany, and Israel

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ag Leader Technology, aWhere Inc., Corteva Inc., Deere & Co., DTN LLC, GAMAYA, International Business Machines Corp., Microsoft Corp., Raven Industries Inc., and Trimble Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Artificial Intelligence (AI) Market In Agriculture Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive artificial intelligence (AI) market in agriculture market growth during the next five years
  • Precise estimation of the artificial intelligence (AI) market in agriculture market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the artificial intelligence (AI) market in agriculture industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of artificial intelligence (AI) market in agriculture market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Industrial Machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Robotics - Market size and forecast 2020-2025
      • Exhibit 17: Robotics - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Robotics - Year-over-year growth 2020-2025 (%)
    • 5.4 Crop and soil management - Market size and forecast 2020-2025
      • Exhibit 19: Crop and soil management - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Crop and soil management - Year-over-year growth 2020-2025 (%)
    • 5.5 Animal husbandry - Market size and forecast 2020-2025
      • Exhibit 21: Animal husbandry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Animal husbandry - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 23: Market opportunity by Application

    6 Customer landscape

    • 6.1 Overview
      • Exhibit 24: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks
        • 9.3 Competitive Scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 43: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 44: Market positioning of vendors
          • 10.3 Ag Leader Technology
            • Exhibit 45: Ag Leader Technology - Overview
            • Exhibit 46: Ag Leader Technology - Product and service
            • Exhibit 47: Ag Leader Technology - Key offerings
          • 10.4 aWhere Inc.
            • Exhibit 48: aWhere Inc. - Overview
            • Exhibit 49: aWhere Inc. - Product and service
            • Exhibit 50: aWhere Inc. - Key offerings
          • 10.5 Corteva Inc.
            • Exhibit 51: Corteva Inc. - Overview
            • Exhibit 52: Corteva Inc. - Business segments
            • Exhibit 53: Corteva Inc. – Key news
            • Exhibit 54: Corteva Inc. - Key offerings
            • Exhibit 55: Corteva Inc. - Segment focus
          • 10.6 Deere & Co.
            • Exhibit 56: Deere & Co. - Overview
            • Exhibit 57: Deere & Co. - Business segments
            • Exhibit 58: Deere & Co. - Key offerings
            • Exhibit 59: Deere & Co. - Segment focus
          • 10.7 DTN LLC
            • Exhibit 60: DTN LLC - Overview
            • Exhibit 61: DTN LLC - Business segments
            • Exhibit 62: DTN LLC – Key news
            • Exhibit 63: DTN LLC - Key offerings
          • 10.8 GAMAYA
            • Exhibit 64: GAMAYA - Overview
            • Exhibit 65: GAMAYA - Product and service
            • Exhibit 66: GAMAYA - Key offerings
            • Exhibit 67: GAMAYA - Segment focus
          • 10.9 International Business Machines Corp.
            • Exhibit 68: International Business Machines Corp. - Overview
            • Exhibit 69: International Business Machines Corp. - Business segments
            • Exhibit 70: International Business Machines Corp. – Key news
            • Exhibit 71: International Business Machines Corp. - Key offerings
            • Exhibit 72: International Business Machines Corp. - Segment focus
          • 10.10 Microsoft Corp.
            • Exhibit 73: Microsoft Corp. - Overview
            • Exhibit 74: Microsoft Corp. - Business segments
            • Exhibit 75: Microsoft Corp. – Key news
            • Exhibit 76: Microsoft Corp. - Key offerings
            • Exhibit 77: Microsoft Corp. - Segment focus
          • 10.11 Raven Industries Inc.
            • Exhibit 78: Raven Industries Inc. - Overview
            • Exhibit 79: Raven Industries Inc. - Business segments
            • Exhibit 80: Raven Industries Inc. – Key news
            • Exhibit 81: Raven Industries Inc. - Key offerings
            • Exhibit 82: Raven Industries Inc. - Segment focus
          • 10.12 Trimble Inc.
            • Exhibit 83: Trimble Inc. - Overview
            • Exhibit 84: Trimble Inc. - Business segments
            • Exhibit 85: Trimble Inc. – Key news
            • Exhibit 86: Trimble Inc. - Key offerings
            • Exhibit 87: Trimble Inc. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 88: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 89: Research Methodology
              • Exhibit 90: Validation techniques employed for market sizing
              • Exhibit 91: Information sources
            • 11.4 List of abbreviations
              • Exhibit 92: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The artificial intelligence (ai) market in agriculture market market growth will increase by $$ 458.68 mn during 2022-2025.
            The artificial intelligence (ai) market in agriculture market market is expected to grow at a CAGR of 23.34% during 2022-2025.
            Technavio has segmented the artificial intelligence (ai) market in agriculture market market by application (Robotics, Crop and soil management, and Animal husbandry) and geography (North America, Europe, APAC, South America, and MEA).
            Ag Leader Technology, aWhere Inc., Corteva Inc., Deere & Co., DTN LLC, GAMAYA, International Business Machines Corp., Microsoft Corp., Raven Industries Inc., Trimble Inc. are a few of the key vendors in the artificial intelligence (ai) market in agriculture market market.
            North America will register the highest growth rate of 38% among the other regions. Therefore, the artificial intelligence (ai) market in agriculture market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the artificial intelligence (ai) market in agriculture market market growth are:
            • Maximizing profits in farm operations
            • Advances in AI technology
            The artificial intelligence (ai) market in agriculture market market vendors should focus on grabbing business opportunities from the robotics segment as it accounted for the largest market share in the base year.
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