AI in Agriculture Market Scope
Agricultural AI refers to the use artificial intelligence in Agriculture. Agricultural AI helps to predict analysis. Fueling Demand artificial intelligence techniques such as Cattle Face Recognition Technology, precision agricultural, drone analytics, agriculture robots, and livestock observing will help to boost the global agriculture AI market.
According to AMA, the Global AI in Agriculture market is expected to see growth rate of 22.34%AI in Agriculture market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global AI in Agriculture market throughout the predicted period.
IBM (United States), John Deere Company (United States), Intel (United States), Google (United States), Microsoft (United States), NVIDIA Corporation (United States), Sentient Technologies (United States), Numenta Inc. (United States), Agribotix (United States) and The Climate Corporation (Subsidiary of Monsanto) (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Granular (United States), Descartes Labs (United States), Prospera (Israel), Mavrx (United States), Awhere (United States), Gamaya (Switzerland), Ec2ce (Spain), Precision Hawk (United States) and Cainthus (Ireland).
Segmentation Overview
The study have segmented the market of Global AI in Agriculture market , by Application (Precision Farming , Livestock Monitoring , Drone Analytics , Agriculture Robots , Other Applications and By) and Region with country level break-up.
On the basis of geography, the market of AI in Agriculture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Adoption of Advanced Robotic Technology and Introduction of IOT based technology
Market Growth Drivers:
Rising Demand of Cattle Face Recognition Technology, Increasing Dependency on Machine Learning Based Technology and Growing Demand of Agriculture Production
Challenges:
High Investment
Restraints:
High Cost of AI Technology and Lack of Understanding
Opportunities:
Huge Opportunity In Untapped Market In Emerging Countries
In December 2022, Accenture forged a collaborative partnership with Planet Labs PBC (NYSE: PL), a prominent provider of daily Earth data and insights. This collaboration aims to enhance decision-making processes for organizations operating in agriculture industries by leveraging the comprehensive information offered by Planet Labs.
Key Target Audience
Agricultural AI Manufactures, Agricultural AI Suppliers, Technology Investors, Private Research Organizations and Consulting Companies., Government Research Institutes and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.