The AI in agriculture market is expected to grow from USD 518.7 Million in 2017 to USD 2,628.5 Million by 2025, at a CAGR of 22.5% between 2017 and 2025.
The major factors driving the growth of the AI in agriculture market include the growing demand for agricultural production owing to the increasing population, rising adoption of information management systems and new, advanced technologies for improving crop productivity, increasing crop productivity by implementing deep learning techniques, and growing initiatives by worldwide governments supporting the adoption of modern agricultural techniques.
The combination of the Internet of Things and artificial intelligence technologies, such as machine learning, computer vision, and predictive analytics, further allow farmers to analyze real-time data of weather conditions, temperature, soil moisture, plant health, and crop prices in the market.
The AI in agriculture market report has been segmented on the basis of offering, technology, application, and region. Based on offering, the AI in agriculture market has been classified into hardware, software, AI-as-a-Service, and service. The software segment held the largest market size in 2016. The market for the software segment is mainly driven by the integration of mobile technologies with farming techniques, growing use of artificial intelligence software to improve farm efficiency, and rising demand for real-time data management systems. The market for the hardware segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for processors and data storage devices for farm operations is the major factor that is likely to contribute to the high growth rate of the hardware market in the coming years.
Growing Demand for Agricultural Production Owing to Increasing Population
Rising Adoption of Information Management System and New, Advanced Technologies for Increasing Crop Productivity
Increasing Crop Productivity By Implementing Deep Learning Techniques
Growing Initiatives By Worldwide Governments Supporting Adoption of Modern Agricultural Techniques
High Cost of Gathering Precise Field Data
Developing Countries to Offer Significant Growth Opportunities
Increasing Use of Unmanned Aerial Vehicles (UAVs) Or Drones in Agricultural Farms
Lack of Standards
Technological Unawareness in Farmers About AI
Limited Availability of Historical Data
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Artificial Intelligence in Agriculture Market, By Technology
8 Artificial Intelligence in Agriculture Market, By Offering
9 Artificial Intelligence in Agriculture Market, By Application