Global AI in Agriculture Market Size, Share, Analysis, Growth Trends 2032
AI in Agriculture Market by Technology (Machine Learning and Computer Vision), by Component (Hardware, Software, and Services), and by Application(Agriculture Robots, Agricultural Drones, Driverless Tractors, Facial Recognition, Crop Health Monitoring, and Automated Irrigation Systems): Global Industry Perspective, Comprehensive Analysis, and Forecast 2024-2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 1.78 Billion | USD 11.62 Billion | 23.20% | 2023 |
What is Market Size of AI in Agriculture Industry?
The global AI in Agriculture market size accrued earnings worth approximately USD 1.78 Billion in 2023 and is predicted to gain revenue of about USD 11.62 Billion by 2032, is set to record a CAGR of nearly 23.20% over the period from 2024 to 2032.
Request Free SampleRequest Free Sample
The agriculture sector is experiencing a rapid adoption of advanced technologies in order to improve the overall yield of the crops. Artificial Intelligence (AI) is one such important technology in today’s digital agriculture that is being implemented and deployed for more sustainable use of available resources.
AI in Agriculture Market Growth Dynamics
Various government and private research organizations globally are consistently working to enhance the productivity and efficiency of agricultural land by means of automation, pesticides, and several other measures. Implementation of artificial intelligence in agriculture offers various advantages such as maximizing the crop yield using machine learning and image processing techniques. For instance, International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)collaborated with Microsoft to develop an AI-based sowing App that sends sowing advisories to farmers mentioning the date following. It helped the number of farmers in Andhra Pradesh, India where the practice was carried out as a pilot program by Microsoft and ICRISAT. According to the participating farmers, by using AI-based sowing advisories the yield was increased up to 30% without incurring any capital expenses or installing any sensor on the field.
Increasing investments in artificial intelligence and robotics are primarily driving the growth of the global AI in the agriculture market. This can be supported by the fact that agriculture tech startups have raised more than USD 800 million in the past five years, owing to rising interest in AI and robotics in the field. For instance, Indigo Agriculture raised around USD 165 million to focus on crop/soil health analysis by using artificial intelligence in agriculture. Artificial intelligence in agriculture offers various advantages such as yield monitoring, field mapping, croup scouting, and soil monitoring. A major factor that can restrain market growth is the high initial cost associated with the implementation of AI in agriculture. However, favorable government policies to promote AI startups in agriculture are expected to unlock new growth avenues for global AI in the agriculture market.
Request Free SampleRequest Free Sample
AI in Agriculture Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name |
AI in Agriculture Market |
| Market Size in 2023 | USD 1.78 Billion |
| Market Forecast in 2032 | USD 11.62 Billion |
| Growth Rate | CAGR of 23.20% |
| Number of Pages | 210 |
| Key Companies Covered | Microsoft Corporation, aWhere, Granular, Agribotix LLC, IBM, Mavrx Inc., Prospera Technologies, Resson, Spensa Technologies Inc., The Climate Corporation, and Precision Hawk. |
| Segments Covered | By Technology, By Component, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
AI in Agriculture Market Segmentation Analysis
The global AI in the agriculture market is segmented on the basis of technology, component, application, and region.
Technology segment is further divided into machine learning and computer vision. Machine learning sub-segment is anticipated to have a substantial share in the technology segment of AI in the agriculture market. Hardware, software, and services are the components in the global AI in the agriculture market. Applications of the AI in agriculture market include agriculture robots, agricultural drones, driverless tractors, crop health monitoring, facial recognition, and automated irrigation systems. Agricultural drones segment is expected to witness substantial growth during the forecast period.
Regional segmentation of the AI in agriculture market include Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America divided further into major countries such as the U.S., Canada, Mexico, the UK, France, Germany, Italy, China, Japan, India, Australia, South Korea, Brazil, Argentina, Saudi Arabia, UAE, South Africa, and Israel.
AI in Agriculture Market Competitive Analysis
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global AI in agriculture market are
- Microsoft Corporation
- aWhere
- Granular
- Agribotix LLC
- IBM
- Mavrx Inc.
- Prospera Technologies
- Resson
- Spensa Technologies Inc.
- The Climate Corporation
- and Precision Hawk.
The report segments the global AI in agriculture market as follows:
By Technology
- Machine Learning
- Computer Vision
By Component
- Hardware
- Software
- Services
By Application
- Agriculture Robots
- Agricultural Drones
- Driverless Tractors
- Facial Recognition
- Crop Health Monitoring
- Automated Irrigation Systems
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table Of Content
Methodology
FrequentlyAsked Questions
AI in agriculture uses artificial intelligence to optimize farming activities. It improves crop monitoring, yield prediction, and resource management.
The global AI in agriculture market is expected to be driven by the precision farming, yield optimization needs, and adoption of data-driven and automated agricultural practices.
According to study, the global AI in agriculture market size was worth around USD 1.78 Billion in 2023 and is predicted to grow to around USD 11.62 Billion By 2032.
The global AI in agriculture market is expected to grow at a Compound Annual Growth Rate (CAGR) of around CAGR 23.20% during the forecast period from 2024-2032.
The global AI in agriculture industry is projected to be challenged by Challenges involve data availability and quality, connectivity in rural areas, and farmer adoption barriers. High implementation costs and unclear ROI slow scaling.
Which application areas will offer significant growth opportunities in the AI in agriculture market?
The Opportunities lie in yield prediction, precision spraying, and farm analytics. Computer vision, drones, and decision-support platforms expand adoption across crops will offer significant growth opportunities in the AI in agriculture market.
Precision farming with AI analytics; crop monitoring via drones and sensors; yield optimization and cost reduction are the emerging trends and innovations impacting the AI in agriculture market.
The global AI in agriculture market is expected to be led by APAC during the forecast period.
Some of the prominent players operating in the global AI in agriculture market are; Microsoft Corporation, aWhere, Granular, Agribotix LLC, IBM, Mavrx Inc., Prospera Technologies, Resson, Spensa Technologies Inc., The Climate Corporation, and Precision Hawk. and others.
The report explores crucial aspects of the AI in agriculture market, including a detailed discussion of existing growth factors and restraints, while also browsing future growth opportunities and challenges that impact the market.
HappyClients
