Pune, Maharashtra -- (SBWIRE) -- 08/29/2023 -- The Global AI in Agriculture Market study with 132+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyse futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2029. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are 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), The Climate Corporation (Subsidiary of Monsanto) (United States).

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The Global AI in Agriculture Market was valued at USD 966.40 Million in 2023 and is expected to reach USD 1501.60 Million by 2029, growing at a CAGR of 22.34% during 2023-2029.

Definition:

AI in agriculture refers to the use of artificial intelligence (AI) technologies, such as machine learning, computer vision, and robotics, to improve farming practices, increase crop yields, and reduce the environmental impact of agriculture. AI in agriculture can be used for a wide range of applications, including crop monitoring, soil analysis, irrigation management, pest detection, and livestock management.
The AI in agriculture market refers to the market for products and services related to AI technologies in agriculture. This includes hardware such as sensors, drones, and robots, as well as software platforms and applications for data analysis and decision-making. The market has been growing rapidly in recent years as the agriculture industry seeks to adopt more efficient and sustainable farming practices.
The benefits of AI in agriculture include increased efficiency, reduced costs, and improved yields, as well as reduced environmental impact through more precise use of water and fertilizer, and reduced pesticide use. AI can also help farmers make more informed decisions by providing real-time data on crop health, weather conditions, and other factors that affect crop growth and yield. The market for AI in agriculture is expected to continue to grow as more farmers and agricultural companies adopt these technologies to improve their operations and meet the increasing demand for food production.

Market Trends:
Adoption of Advanced Robotic Technology
Introduction of IOT-based technology

Market Drivers:

Rising Demand of Cattle Face Recognition Technology
Increasing Dependency on Machine Learning Based Technology
Growing Demand of Agriculture Production

Market Opportunities:

Huge Opportunity In Untapped Market In Emerging Countries

Market Challenges:

Agriculture varies widely across regions and crops.
AI solutions must be adaptable to local conditions and crop types.

Market Restraints:
Implementing AI systems, including sensors, drones,
and machine learning models, can be expensive.
This cost can be a significant barrier,
particularly for small-scale farmers.

About Approach:

Utilize satellite imagery for large-scale monitoring of crop health,

weather patterns, and land use.

Global AI in Agriculture Market Competitive Analysis

Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.

Players Included in Research Coverage: 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), The Climate Corporation (Subsidiary of Monsanto) (United States)

Additionally, Past Global AI in Agriculture Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.

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Segmentation and Targeting

Essential demographic, geographic, psychographic, and behavioural information about business segments in the AI in Agriculture market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.

AI in Agriculture Product Types In-Depth: Product, Hardware, Software, Service, Professional, Managed

AI in Agriculture Major Applications/End users: Precision Farming, Livestock Monitoring, Drone Analytics, Agriculture Robots, Other

AI in Agriculture Major Geographical First Level Segmentation:

- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)

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Research Objectives:

- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:

In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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