AI in Agriculture Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2211
Artificial Intelligence (AI) in Agriculture Market size is being driven by the growing adoption of the robots in agriculture. Increasing consumption and rising requirement of better yield of crops are estimated to be one of the major factors that is fueling the demand of robots in agriculture. Increasing consumption motivates farmers to scale up farming operations and give rise to the requirement of automating farming operations. As the farmers are shifting more towards automation, drones and robots have become integral part of agriculture farms and are enhancing yield and improving the product quality. Since AI is the backbone of robotics, increasing adoption of robots in agriculture is estimated to drive the AI in agriculture market growth. Besides, increasing adoption of smart sensors in agriculture and growing trend of precision farming are also estimated to be one of the major factors that are contributing significantly towards the revenue.
In field monitoring, crop and soil management, robots and predictive analytics are some of the major applications of the AI in agriculture. Predictive analytics is estimated to be one of the fastest growing application during the forecast period. This technology assist farmers in enhancing their crop yield and product quality by analyzing and correlating large amount of structured and unstructured data from multiple sources to extract actionable insights to enhance yield.
North America is estimated to be the dominating region in the global AI in agriculture market. The growth of the market is attributed to the high adoption of advanced technologies and product in agriculture sector. Furthermore, adoption of the predictive analytics and remote monitoring technology in agriculture is also contributing significantly towards the industry growth. In addition, higher technological awareness is also backing the growth of the AI in agriculture market.
On the other hand, Asia Pacific is anticipated to experience high growth rate during the forecasted period owing to the increasing demand from developing countries such as India and China. Furthermore, increasing adoption of the robotics and IoT devices in agriculture is also estimated to drive the AI in agriculture market.
Some of the vendors of AI in agriculture market are John Deere, Iteris, Trimble, Farmlogs, Agworld, AGCO, Granular, Gamaya, aWhere, Hortau, Pycno,Agrosmart, Grownetics, Scicorp, and Raven Industries. Vendors are adopting market strategies such as collaboration, acquisitions, R&D, product launch, and geographical expansion.
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