The global artificial intelligence in agriculture market was valued at $1,517.0 million in 2022 and is expected to reach $4,096.1 million in 2027, following a CAGR of 21.98% during 2022-2027. Owing to the growing demand for food and grains, the growth in the artificial intelligence in agriculture market is expected to be driven by the increasing adoption of digital and smart agriculture equipment and technologies.

Market Lifecycle Stage

The artificial intelligence in agriculture market is in a growing phase. Immense corporate investments and research and development activities are underway to develop artificial intelligence in agriculture, which are expected to increase due to the growing need for agriculture optimization backed by the incorporation of emerging technologies.

New entrants are penetrating the market backed up by government funding and corporate investments, which is one of the major opportunities in the global artificial intelligence in agriculture market. Moreover, artificial intelligence in agriculture also help in enhancing yield quality due to the timely detection of pest infestation and diseases. Artificial intelligence in agriculture also facilitates the safe and quality harvesting and picking of harvests, thus preventing crop losses and damages.

Impact

•    With an increased worldwide demand for improved qualities of foods and grains, the shift to digital, smart, and data-driven equipment in the agriculture sector brings significant sales and financing opportunities. The shift is more prominent in regions such as Europe and North America.
•    Furthermore, artificial intelligence in agriculture has a moderate to high impact on pest detection and crop scouting operations through timely and efficient detection of pests and diseases at the plant level.

Impact of Ukraine-Russia Crisis

The market for technologies in the agriculture sector, including AI-enabled, is facing a negative impact due to Ukraine-Russia tensions. The two countries are blessed with extensive technological and agricultural benefits. The tensions are leading the AI-technology providers and start-ups to reach out to markets other than the two countries. Many start-ups in the global artificial intelligence in agriculture market have staged their pilot projects in Ukraine and Russia before commercially launching their products. Similarly, many companies find Ukraine and Russia suitable for agricultural technology testing and trials owing to the presence of different varieties of crops and high adoption rates among farmers.

Market Segmentation:

Segmentation 1: by Application

•    Yield Optimization
•    Data Analytics
•    Livestock Monitoring
•    Aquaculture Management

Segmentation 2: by Mode of Deployment

•    On-Cloud Deployment
•    On-Premises Deployment
•    Edge Deployment
•    Hybrid Deployment

Segmentation 3: by Product Type

•    Application Programming Interface (API)
•    User Interface (UI)

Segmentation 4: by Region

•    North America – U.S., Canada, Mexico, and Rest-of-North America
•    South America – Brazil, Argentina, and Rest-of-South America
•    Europe – Italy, Germany, Netherlands, France, Belgium, Switzerland, Greece, Ukraine, Spain, and Rest-of-Europe
•    U.K.
•    China
•    Asia-Pacific – Japan, India, Australia, and Rest-of-Asia-Pacific
•    Middle East and Africa – Turkey, Israel, South Africa, and Rest-of- Middle East and Africa

Recent Developments in the Global Artificial Intelligence in Agriculture Market

•    In May 2021, Robert Bosch GmBH unveiled its new Artificial Intelligence based IoT platform to keep real time track of energy consumption, electrical parameters in healthcare, agriculture, and other sectors.

•    In February 2019, Ceres Imaging developed and launched its Center-Pivot Analytics Suite, a full-service imagery solution designed specifically for center-pivot irrigated row crops.

•    In February 2022, Plantix expanded its market presence in the Asia-Pacific region by launching its product, Plantix Vision API in Bangladesh.

•    In February 2021, Microsoft Corporation launched its business expansion in Indonesia to support agricultural sector there in.

•    In May 2021, Valmont Industries acquired Prospera Industries for $300 million to establish greater returns for mutual customer farmers.

•    In February 2021, DeHaat acquired Farm Guide, a data science start-up to further enhance its advisory and market services.

•    In December 2021, Connecterra B.V. collaborated with Lely. With this collaboration, Lely aimed to use Connecterra B.V.’s advancements in machine learning and artificial intelligence to provide more insights to farmers. Also, the technologies aid in integrating farm technologies with sensors enabled with artificial intelligence for developing farm management systems.

•    In May 2022, Taranis expanded its partnership with DJI and DroneNerds.com in the United States. To make more intelligent data-driven decisions, the collaboration will take advantage of cutting-edge AI and drone technologies.

Demand – Drivers and Limitations

Following are the demand drivers for the global artificial intelligence in agriculture market:

•    Surging Need for Automation in Agriculture
•    Increased Farmland Consolidation and Large Farm Size

The market is expected to face some limitations as well due to the following challenges:

•    Data Ownership and Privacy Concerns
•    Technical Constraints of Implementation and Maintenance

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of artificial intelligence modes of deployment and product types available for deployment in the agriculture sector and their potential globally.

Growth/Marketing Strategy: The artificial intelligence in agriculture market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favoured strategy for the companies has been product partnerships, joint ventures, and product launches to strengthen their position in the global artificial intelligence in agriculture market. For instance, in February 2019, CNH Industrial N.V. launched an Advanced Farming Systems (AFS) Connect platform for farm, fleet, and data management.

Competitive Strategy: Key players in the artificial intelligence in agriculture market analyzed and profiled in the study involve artificial intelligence in agriculture manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the artificial intelligence in agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.

Some manufacturing companies with a global presence include Microsoft Corporation, Climate LLC, CNH Industrial N.V., Deere & Company, and IBM Corporation among others. Collectively these companies account for approximately 42.90% of the total global artificial intelligence in agriculture market. Other 57.10% of the market share is dominated by Aquabyte, Ceres Imaging, Taranis, and CropIn Technology Solutions Pvt Ltd. among others.

Key Companies Profiled

•    Alibaba Group Holding Limited
•    Aquabyte
•    Ceres Imaging
•    Climate LLC
•    CNH Industrial N.V.
•    Connecterra B.V.
•    CropIn Technology Solutions
•    Deere & Company
•    DJI
•    Granular Inc.
•    IBM Corporation
•    Microsoft Corporation
•    PrecisionHawk, Inc.
•    Plantix
•    XPERTSEA
•    Agrible
•    Prospera Technologies
•    Taranis
•    UMITRON
•    Wolkus Technology Solutions Private Limited (Fasal)

The post Artificial Intelligence in Agriculture Market – A Global and Regional Analysis: Focus on Product, Application, Supply Chain Analysis, and Country Analysis – Analysis and Forecast, 2022-2027 first appeared on CRI Report.

Artificial Intelligence in Agriculture uses modern and innovative agricultural technologies to improve productivity and yield to deliver better and more efficient farming services. Using specific equipment such as the Internet of Thing models, sensors and actuators, geo-positioning systems, Unmanned Aerial Vehicles (UAVs or drones), robotics & fertilizers, irrigation management, and so on, farmers can advance their production and harvest by controlling pests, increasing productivity, monitoring the soil quality while reducing the time, energy and work needed for these tasks. Artificial Intelligence in agriculture helps and assists in evaluating and taking decisions to boost crop growth and production. In agriculture, artificial intelligence has a variety of uses, including agricultural automation, digital water network systems, face recognition, and tractors without a driver.

Market Highlights

Global Artificial Intelligence in Agriculture Market is estimated to grow from USD 893.43 million in 2019 to USD 8342.37 million in 2030 with a CAGR of 22.52%. Factors such as growing stress on the food supply chain due to exponentially increasing population, rising implementation of the Internet of Things in the agricultural sector, improving the standard of living, growing focus on enhanced crop monitoring, and increased demand for higher agricultural yield, are driving growth in the artificial intelligence market. Moreover, limited land for agriculture coupled with supportive government policies to encourage the use of AI technologies is anticipated to fuel the market growth.
Global Artificial Intelligence in Agriculture Market: Segments
Software offerings are anticipated to be the fastest-growing over 2020-2030
Based on offerings, the global AI in Agriculture Market is segmented into hardware, software, and services. The software segment captured a significant share in 2019 and is projected to have the highest CAGR during the forecast period. The convergence of digital technology with agriculture techniques, increased adoption of automation and control systems, such as GPS / GNSS receivers, irrigation controls, guidance & steering systems, and the demand for database management systems has created a new approach to farming practices that stimulates market growth.
Global Artificial Intelligence in Agriculture Market: Market Dynamics

Drivers

Rising demand for Agricultural Produce
Growing global demand for food, farmers need to increase crop production either by increasing the amount of agricultural land or by adopting advanced agricultural methods such as precision farming. Another major factor that has prompted farmers to implement digital farming solutions in their farms to boost the productivity of agricultural land is the increased demand for quality crops that meet the increasing requirements of grains and plants.

Restraints

High Equipment Cost
Some of the factors limiting the growth of Artificial Intelligence in the agriculture market are the high cost of devices used in Artificial Intelligence in agriculture and the lack of awareness among farmers. High costs incurred in the production of Artificial Intelligence in agricultural equipment, in turn, increase the price of the final product, which is likely to restrict the growth of the market over the forecast period.
Global Artificial Intelligence in Agriculture Market: Region
Global Artificial Intelligence in Agriculture market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world is classified as Middle-East and Africa.
North America to register a remarkable CAGR during the forecast period
Owing to the concentration of leading industrial automation players and the introduction of artificial intelligence technologies in North America, the share in 2019 accounted for more than other regions. North America is marked by an enhanced standard of living of the people, continuous technological investments, major IoT investments, and growing policy emphasis on the development of in-house AI equipment. These factors are likely to boost growth shortly.
Key Players
 Microsoft Corporation
o Company overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
 Precision Hawk
 Deere & Company
 The Climate Corporation
 International Business Machines Corp.
 Farmers Edge Inc.
 AgEagle Aerial Systems
 Gamaya Inc
 Descartes Lab Inc.
 Prospera Technologies
Global Artificial Intelligence in Agriculture Market Report also contains an analysis of:
Artificial Intelligence in Agriculture Market by segment:
 By Offering
o Hardware
o Software
o Services
 By Application
o Livestock Monitoring Application
o Precision Farming Application
o Agriculture Robots Application
o Drone Analytics Application
o Others

The post Global AI in Agriculture Market by Offerings (Hardware, Software and Services); By Technology (Machine Learning, Predictive Analytics and Computer Vision); By Application (Livestock Monitoring Application, Precision Farming Application, Agriculture Robots Application, Drone Analytics Application and Others); By Region (North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa) – Analysis of market share, size & trends for 2016-19 and forecasts to 2030 first appeared on CRI Report.