Artificial intelligence (AI) in agriculture market is anticipated to grow at a CAGR of 26.1% during the forecast period. The growing involvement of start-ups in AI in agriculture market across the globe is the major factor driving the growth of the market. For instance, in May 2022, Cropin Technology Solutions Pvt Ltd, a Bengaluru-based start-up that provides smart SaaS-based solutions to agribusinesses globally set up an intelligent agriculture cloud, and new AI labs. The company has opened a lab with a team of 30 members comprising earth observation scientists, data scientists, agronomists, and AI/ML researchers. The AI labs are focused on studying and computing cultivable lands across the globe. Adding on the lab is capable of computing crop intelligence at the planet scale and already computed 0.2 billion acres of cultivable land in 13 countries including India, Nigeria, and Bangladesh. The company is planning to compute over 1.2 billion acres of cultivable lands across North America, Europe, Asia Pacific, LATAM, and Africa regions by 2025.
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AI in agriculture market is segmented based on the technology, offering, and application. Based on the technology, the market is bifurcated into computer vision and predictive analytics. Based on the offering, the market is sub-segmented into software, hardware, and services. Based on the application, the market is further sub-segmented into precision farming, livestock monitoring, drone analytics, agriculture robots, and others. Among these, the predictive analytics sub-segment is expected to hold a considerable share of the market owing to it assisting farmers to analyze and address challenges such as pesticide control, weed management, irrigation and drainage management, and others with the use of image analysis and neural networks.
Among these, the software segment is expected to hold a considerable share of the market due to the changing customers’ requirements and behavior which are pushing key players to develop software-based solutions to provide improved customer satisfaction and experience. For instance, in March 2020, Farmers Edge Inc. and Nufarm Ltd. partnered for 3 years to digitize 3 million acres of farmland in Brazil by 2023. Through this partnership, both companies will aim to provide improved crop protection and modern digital tools to maximize profitability. Farmers Edge Inc. brings unique digital infrastructure to the farm that collects data from any type of environment over wireless mesh or cellular networks which guides the farmers and improves crop production.
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Artificial Intelligence in Agriculture Market Segmentation
By Technology
- Computer Vision
- Predictive Analytics
By Offering
- Software
- Hardware
- Services
By Application
- Precision Farming
- Livestock Monitoring
- Drone Analytics
- Agriculture Robots
- Others
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- A.A Taranis Visual Ltd.
- AgEagle Aerial Systems Inc.
- aWhere Inc.
- Descartes Labs, Inc.
- ec2ce
- Farmers Edge Inc.
- Granular, Inc
- International Business Machines Corp.
- John Deere Group
- Microsoft Corp.
- PrecisionHawk, Inc.
- Prospera Technologies Ltd.
- SkySquirrel Technologies Inc.
- The Climate Corp.
- Tule Technologies Inc.
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