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.
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Artificial Intelligence (AI) Market In Agriculture Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.34% |
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Market growth 2021-2025 |
$ 458.68 million |
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Market structure |
Fragmented |
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YoY growth (%) |
21.39 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 38% |
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Key consumer countries |
US, China, UK, Germany, and Israel |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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. |
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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 |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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