Thursday, January 6, 2022

Artificial Intelligence in Agriculture Market: Growth, Market Demand, Market Value, Market Share, Industry Forecast to 2030


Research Nester published a report titled “Artificial Intelligence in Agriculture Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalartificial intelligence in agriculture market in terms of market segmentation by technology, deployment, offering, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global artificial intelligence in agriculture market is estimated to occupy a sizeable revenue by growing at a robust CAGR during the forecast period, i.e., 2022 – 2030, owing to the escalating growing use of smart sensors in agricultural fields, and high demand for agricultural produce globally. The World Bank stated that in 2018 agriculture accounted for 4 percent of the global gross domestic product. In some developing countries it was also calculated to account for more than 25 percent of the GDP share. Apart from these, government initiatives regarding research and development of sophisticated diagnostic techniques and growing inclusion of rubella vaccination in national health programs of various countries are also expected to drive market growth in the coming years.

The global artificial intelligence in agriculture market is segmented by technology, deployment, offering and application. Based on technology, the machine learning segment is anticipated to grab the largest market share during the forecast period on the back of increasing adoption of machine-learning enabled solutions by farmers and agricultural organizations. Additionally, based on offering, the software segment is projected to occupy the most significant share over the forecast period attributing to the rising use of AI software to increase farm efficiency.

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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the early adoption of machine learning and IoT technologies. Moreover, the market in Asia Pacific is assessed to grow by the noteworthy rate during the forecast period, which can be credited to the surge in adoption of AI in agriculture systems in China, India, Japan and Australia, and entry of prominent companies in agricultural solutions business in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising Usage of Smart Sensors in Agricultural Fields Worldwide to Drive Market Growth

The use of smart sensors in agricultural fields is witnessing a hike since the last few years. Through the use of location sensors, airflow sensors, soil moisture sensors, farmers are now able to map their fields accurately and apply crop treatment agents only to the areas that need it. This in turn is assessed to boost market growth in the near future.

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However, high cost of gathering precise field data is expected to operate as key restraint to the growth of the global artificial intelligence in agriculture market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global artificial intelligence in agriculture market which includes company profiling of Microsoft Corporation, AgEagle Aerial Systems Inc., Descartes Labs, Inc., IBM Corporation, John Deere and Company, The Climate Corporation, Trimble Inc., aWhere Inc., Farmers Edge Inc., Prospera Technologies Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global artificial intelligence in agriculture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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