Global Artificial Intelligence in Agriculture Market to 2027: Surging Need for Automation in Agriculture Fuels Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “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” report has been added to ResearchAndMarkets.com’s offering.
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.
Demand – Drivers and Limitations
The 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 321 |
| Forecast Period | 2022 – 2027 |
| Estimated Market Value (USD) in 2022 | $1517 Million |
| Forecasted Market Value (USD) by 2027 | $4096.1 Million |
| Compound Annual Growth Rate | 22.0% |
| Regions Covered | Global |
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
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)
For more information about this report visit https://www.researchandmarkets.com/r/7wo0e6
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