“Artificial intelligence in the agriculture market | Emerging Research »
Increasing implementation of data generation through sensors is one of the key factors driving the market revenue growth
The Artificial intelligence (AI) in the agriculture market The size reached USD 1.70 billion in 2021 and is expected to register a CAGR of 27.0% during the forecast period according to a latest analysis by Emergen Research. The growing implementation of data generation via sensors is a key driver for the market revenue growth. Precision farming is a type of farm management strategy that can help farmers produce more crops with fewer resources. The next big thing in farming could be AI-powered precision farming. To help farmers maximize yields and reduce costs, precision agriculture combines the best soil management techniques, variable rate technologies and the most efficient data management processes. Farmers can identify fields that require irrigation, fertilizer, or pesticide application using real-time AI insights. Additionally, innovative farming techniques such as vertical farming can help boost food production while using fewer resources. The use of herbicides is reduced, the quality of the crop is improved, incomes are increased and significant savings result.
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Key Players/Manufacturers profiled in the report are:
Microsoft Corporation, Descartes Labs, Inc., Gamaya Inc., Precision Hawk, Connecterra BV, Autonomous Tractor Corporation, Taranis, IBM Corporation, Granular Inc. and VineView.
However, precision farming and smart farming create a number of legal issues that often go unresolved as there are no defined standards and regulations surrounding the use of AI in general, not just in agriculture. Farmers can face serious problems due to privacy and security threats such as cyberattacks and data leaks; these hazards can affect many farms. Agricultural industries in developing countries are distinct from those in Western Europe and American AI in agriculture may be advantageous in some regions, but it may be difficult to commercialize such technology in places where agricultural technology is scarce. . Farmers will probably need help implementing it. Therefore, IT companies may need to adopt a proactive strategy if they want to do business in regions with developing agricultural economies. They will need to provide ongoing training and support to farmers and agribusiness owners who are willing to adopt innovative solutions alongside their products.
Some highlights of the report
The software segment is expected to register significant market revenue growth. AI-based software increases crop productivity and yield using prediction-based analytics and computer vision. The benefits of AI-based software for upcoming agricultural applications such as drone analytics and precision farming are what are really driving the growth of the market.
The predictive analytics segment is expected to grow significantly. Predictive analytics is one of the most intriguing technologies currently in use, greatly modified, and created. Only a handful of the many statistical methods that make up predictive analytics as a whole include modeling, machine learning, and data mining.
The drone analytics segment is expected to record steady growth. The majority of labor-intensive tasks associated with growing can be eliminated by using drones to explore an area and uncover new information. Drone analysis helps identify plant stress, assess plant health and productivity, and there are a variety of tasks that can be accomplished, including detecting resistant weeds or invasive species, modification of nitrogen fertilization for row crops, rapid assessment of storm damage to settle claims, optimal water use by tracking drought stress at different growth stages, population inventory, plant size and health, offering advice on the best time to harvest and accurately estimating yield.
The market in Europe is expected to register considerable growth. Agriculture, which accounts for about half of the European economy, is the main industry there.
On April 26, 2020, with the aim of increasing the efficiency, openness and sustainability of global food production, IBM and Yara International (Norway), a leader in crop nutrition and digital agriculture solutions, have invited farmers’ associations, commercial actors, academic institutions and non-governmental organizations (NGOs) from the food and agriculture sector.
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Emergen Research has segmented the Artificial Intelligence in Agriculture market based on component, technology, application, and region:
Components Outlook (Revenue, USD Billion; 2019-2030)
Technology Outlook (Revenue, USD Billion; 2019-2030)
Machine learning and deep learning
Application Outlook (Revenue, USD Billion; 2019-2030)
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Regional Outlook (Revenue, USD Billion; 2019-2030)
The rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA
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Key Benefits of Buying Global Artificial Intelligence in Agriculture Report:
Complete analysis of the changing competitive landscape
Assistance with business decision-making processes as well as detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the global Artificial Intelligence in Agriculture market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends and opportunities
Comprehensive Regional Analysis of the Global Artificial Intelligence in Agriculture Market
In-depth profiling of key business stakeholders
Detailed analysis of factors influencing the growth of the global Artificial Intelligence in Agriculture market
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