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Artificial Intelligence in Agriculture Market
According to a research report " Artificial Intelligence In Agriculture Market”, by Component (Software, Hardware, Service), Deployment (Cloud, On-premise, Hybrid), Application (Weather Tracking, Precision Farming, Drone Analytics, Livestock Monitoring and Others), Technology (Computer Vision, Predictive Analytics, Machine Learning and Others), & Region - Global Forecast To 2030".
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- 147 - Market Data Tables
- 77 - List of Figures
- 201 - Pages
Market Overview: AI is revolutionizing agriculture by providing farmers with real-time insights into their fields. It helps monitor soil quality, plant health and temperature, and can even automate irrigation and pesticide application. These advancements are enhancing the quality and accuracy of harvests. AI applications in agriculture include precision farming, livestock monitoring, drone analytics, agricultural robots and labor management. The use of deep learning technology to boost crop productivity is a major factor driving the growth of this market. The growing global population is increasing the demand for AI in agriculture. With limited arable land and the need for more food to ensure food security, there's a push for a green revolution supported by artificial intelligence, the Internet of Things (IoT) and big data. AI-powered tools are now used in agriculture for tasks such as predicting trends, recommending actions, identifying plant diseases, detecting pests and monitoring soil conditions. AI helps farmers and industry professionals use data-driven insights and smart decision-making to boost productivity, make better use of resources and solve various farming issues. AI allows for the gathering and analysis of large amounts of data from sources such as weather patterns, soil conditions, crop health and past farming records. By processing this information, AI systems give farmers valuable insights that help them make informed decisions, improve crop yields, reduce waste and lessen environmental impact. Additionally, AI enables the automation of routine tasks with smart machinery and robotics which ease labour shortages and allowing farmers to focus on strategic planning and management.
Market Dynamics
Drivers:
- Growing population and rising food demand
- Rising demand for top-quality agricultural products
- Government policies and initiatives are actively supporting the adoption of modern farming tools and techniques.
Opportunities:
- Rapidly growing use of drones on farms
- The need for improved productivity and efficiency
- Shortage of skilled workers
The market for artificial intelligence in agriculture market is dominated by North America.
By analysing the artificial intelligence in agriculture market globally across various country like North America, Europe, Asia-Pacific, and LAMEA in which North America holds the largest market share during the forecast period, driven by increasing disposable incomes, ongoing investments in automation, a strong focus on the Internet of Things (IoT), and government support for developing homegrown AI technology. The region benefits from various agricultural technology companies working on AI solutions. AI is set to revolutionize farming practices in North America with drones, robots and smart monitoring systems being tested and used in the field. Additionally, the rising adoption of AI-powered technologies and IoT devices in agriculture is expected to further drive market growth in the region.
The Asia-Pacific region is expected to see significant growth in the AI in agriculture market during the forecast period. This growth is driven by the increasing use of AI tools in farming. India and China are the fastest-growing economies globally, are incorporating AI technologies such as remote monitoring and predictive analysis into their food industries. Additionally, the demand for smart cities in these countries is pushing agribusinesses to adopt AI-powered solutions. In China, there's a notable rise in the use of AI in agriculture which is partly due to Alibaba Group's entry into the market with AI technology designed to support small farmers.
Key Players covered in the market report:
- The Climate Corporation (U.S.)
- Agribotix LLC (U.S.)
- Tule Technologies Inc (U.S.)
- Prospera Technologies (Israel)
- CropX inc. (Israel)
- Harvest CROO Robotics LLC. (U.S.)
- FarmBot (U.S.)
- Microsoft (U.S.)
- Amazon Web Services Inc. (U.S.)
- Oracle (U.S.)
- Google LLC (U.S.)
- Broadcom (U.S.)
- Descartes Labs, Inc. (U.S.)
- Wipro Limited. (India)
- Deere & Company (U.S.)
- Granular, Inc. (U.S.)
- aWhere Inc. (U.S.)
- Hewlett Packard Enterprise Development LP (U.S.)
- Cisco Systems, Inc. (U.S.)
- IBM Corporation
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Segmentations analysis of artificial intelligence in agriculture market: -
- By Component
- By Deployment
- By Application
- By Technology
- By Region
Recent Development: April 2023, IBM and Texas A&M AgriLife collaborated to give farmers insights into water usage. This collaboration focuses on increase agricultural productivity while reducing costs and environmental impact. They will roll out and expand Liquid Prep, a technology that helps farmers determine the best times to water their crops, especially in dry regions of the U.S.
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