Artificial Intelligence (AI) in Agriculture Market Size
The artificial intelligence (AI) in agriculture market is expected to grow at a compound annual growth rate (CAGR) of around 22% from 2023 to 2030. The increasing demand for food production, the need to improve crop yields and reduce food waste, and the rising adoption of precision farming are some of the key factors driving the growth of the market.
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The key players in the AI in agriculture market are IBM Corporation (US), Microsoft Corporation (US), The Climate Corporation (US), Farmers Edge Inc. (Canada), Hewlett Packard Enterprise Development LP (US), Cisco Systems Inc. (US), Google LLC (US), Amazon Web Services Inc (US), Corteva Inc (US), AgEagle Aerial Systems Inc. (US), and Descartes Labs Inc. (US).
These companies are developing and providing AI-based solutions to farmers and agricultural organizations to help them improve crop yields, reduce food waste, and make better farming decisions.
The market is segmented by type, technology, deployment, application, and region.
By type, the market is segmented into
- solutions
- and services.
The solutions segment is further segmented into precision farming, weather tracking, and drone analytics. The services segment includes consulting, training, and support.
By technology, the market is segmented into
- machine learning,
- computer vision,
- and predictive analytics.
Machine learning is the most widely used technology in the AI in agriculture market. It is used to develop models that can learn from data and make predictions about crop yields, soil health, and pest infestations.
By deployment, the market is segmented into
- cloud,
- on-premise,
- and hybrid.
The cloud segment is expected to dominate the market during the forecast period. This is due to the increasing adoption of cloud-based solutions by farmers and agricultural organizations.
By application, the market is segmented into
- weather tracking,
- precision farming,
- and drone analytics.
Precision farming is the most widely used application of AI in agriculture. It uses data from sensors and drones to monitor crop health and optimize farming practices.
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By region, the market is segmented into
- North America,
- Europe,
- Asia-Pacific,
- Middle East Africa,
- and South America.
North America is expected to dominate the market during the forecast period. This is due to the high adoption of advanced technologies in the agricultural sector in the region.
The AI in agriculture market is a rapidly growing market with a lot of potential. The market is expected to continue to grow in the coming years due to the increasing demand for food production and the need to improve crop yields. The key players in the market are developing innovative solutions to help farmers and agricultural organizations improve their operations.
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