Artificial Intelligence in Agriculture, 2024: Global, Regional, and Competitor Market Shares Through 2020-2030 Featuring IBM, Microsoft, Deere & Company, The Climate Corporation, Prospera Technologies, and More
Dublin, May 01, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Agriculture Market Size and Forecast 2020 - 2030, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component; Application; and Geography" report has been added to * ResearchAndMarkets.com's* offering.
The global artificial intelligence (AI) in agriculture market size was valued at the market was valued at US$ 1.63 billion in 2022 and is expected to reach US$ 7.97 billion by 2030; it is estimated to record a CAGR of 21.9% from 2022 to 2030.
The market for agricultural technology is being propelled by several key factors. Firstly, there's a rising demand for real-time analytics within the agriculture sector, driving the need for efficient data processing and insights. Additionally, governments are increasingly supportive of AI solutions in agriculture, fostering an environment conducive to technological advancements. Another significant driver is the expanding utilization of Unmanned Aerial Vehicles (UAVs) in farming operations, offering enhanced monitoring and precision agriculture capabilities.
However, several challenges hinder the full realization of this potential. These include a shortage of technically skilled labor and the high implementation costs associated with integrating AI into farming equipment. Nevertheless, amidst these challenges lie opportunities, particularly in the realm of smart farming initiatives and the untapped potential in developing countries. Looking ahead, robotics and automation are poised to become prominent trends in agriculture, promising increased efficiency and productivity in the industry.
Developing countries confront particular issues in agriculture, including limited resources, small landholdings, insufficient water, and a lack of access to technology and credit. Climate change has resulted in increased droughts, floods, and insect infestation. Difficulty in connecting to markets and receiving fair pricing for crops. In response to these challenges, various governments across developing countries are focusing on AI in agriculture. AI has the potential to address these issues while dramatically increasing agricultural output and sustainability in developing countries.
Several global organizations are taking various initiatives. For example, AI4AI intends to scale digital agriculture through public-private partnerships and reach one million farmers worldwide by 2027. Under the public-private partnership, the government across the world has taken several steps. For example, the Public-Private Partnerships for Digital Transformation of Agriculture project intends to strengthen policy recommendations for Agriculture 4.0 frameworks using data from pilots established since 2021. The goal is to achieve 100 cases and assess their appropriateness for new crops, such as plantain, cape gooseberry, and palm, in addition to historical crops, including cocoa, coffee, and avocado.
Another example is India, which is focusing on scaling digital agriculture. For example, the Government of India is collaborating with the corporate sector, industry, and farmer organizations. Agri Stack is the government's digital foundation for bringing multiple stakeholders together to promote agriculture in India and enable improved outcomes and results for farmers through the use of data and digital services. In 2022, India led multi-stakeholder discussions in six working groups to make recommendations on Public-Private Partnerships in Digital Agriculture. Thus, such initiatives by developing economies are anticipated to create several opportunities for artificial intelligence (AI) in agriculture market growth.
Tule Technologies Inc, Precisionhawk Inc, Easytosee Agtech SL, Deere & Co, Climate LLC, Gamaya SA, International Business Machines Corp, Microsoft Corp, Prospera Technologies Ltd, and Taranis are among the prominent players profiled in the artificial intelligence (AI) in agriculture market report.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 161
Forecast Period 2022-2030
Estimated Market Value (USD) in 2022 $1.63 Billion
Forecasted Market Value (USD) by 2030 $7.97 Billion
Compound Annual Growth Rate 21.9%
*Key Topics Covered*
1. Introduction
2. Executive Summary
3. Research Methodology
4. Artificial Intelligence in Agriculture Market Landscape
5. Artificial Intelligence in Agriculture Market - Key Market Dynamics
6. Artificial Intelligence in Agriculture Market - Global Market Analysis
7. Artificial Intelligence in Agriculture Market Analysis - by Component
8. Artificial Intelligence in Agriculture Market Analysis - by Application
9. Artificial Intelligence in Agriculture Market - Geographical Analysis
10. Competitive Landscape
11. Industry Landscape
12. Company Profiles
*A selection of companies mentioned in this report includes, but is not limited to:*
· IBM Corporation
· Microsoft
· Deere & Company
· The Climate Corporation
· Prospera Technologies
· Taranis
· GAMAYA
· ec2ce
· PrecisionHawk
· Tule Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/p3c7sg
*About ResearchAndMarkets.com*
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*Attachment*
· Artificial Intelligence in Agriculture Market
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