Industry Insights
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the AI in agriculture industry. The report analyzes and declares the historical and current trends analysis of the AI in agriculture industry and subsequently recommends the projected trends anticipated to be observed in the AI in agriculture market during the upcoming years.
The AI in agriculture market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire AI in agriculture market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2016 – 2026.
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the AI in agriculture industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the AI in agriculture industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the AI in agriculture market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the AI in agriculture industry. The AI in agriculture market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the AI in agriculture sector. Key strategic developments in the AI in agriculture market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the AI in agriculture market are appropriately highlighted in the report.
The AI in agriculture market research report delivers an acute valuation and taxonomy of the AI in agriculture industry by practically splitting the market on the basis of different types, category, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the AI in agriculture industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the AI in agriculture industry is provided for the leading economies of the world.
Agriculture is the oldest and most important profession around the world. With the rising population, producing more crops in less land is very necessary. Farmers can produce healthier crops, track their soil condition and growing conditions and manage pests with the implementation of AI technologies. AI in agriculture helps the farmer by organizing farmers ' data; it helps with the workload and improves a wide range of related tasks. Rapid population growth is increasing demand for agricultural production. Innovative technologies have been used in recent years to increase the efficiency. Growing adoption of advanced technology, growing need for monitoring of livestock, increasing use of drones in agriculture, increasing demand for smart sensors, GPS tracker in agriculture will drive the AI in the agricultural sector.
High maintenance costs, huge investment in research and development may restraint market growth. However, the use of the AI bots that helps the farmer to work faster than human labors and to produce a large volume of crops may create sufficient opportunities in the market.
The AI in agriculture market is segmented based on technology, application, component, deployment, and region. On the basis of technology segmentation, the market is classified into machine learning, computer vision, and predictive analytics. By application segmentation, the market is divided into precision farming, livestock monitoring, drone analytics, agriculture robots, others. By component, the market is separated into hardware, software, AI-as-a-service, service. By deployment segmentation, the market is bifurcated into cloud, on-premise, and hybrid.
Some of the essential players operating in the AI in agriculture market, but not restricted to include Microsoft, Gamaya, Precision Hawk, Agribotix(A AgEagle Company), ec2ce, Descartes Labs, IBM, John Deere, The Climate Corporation, aWhere, Granular, Vineview, Taranis, DTN, Connecterra, Prospera, Cainthus, Resson, FarmBot, Vision Robotics, Trace Genomics, CropX, Harvest Croo, Autonomous Tractor Corporation, and others.
The taxonomy of the AI in agriculture industry by its scope and segmentation is as follows:
Global AI in agriculture Market: By Technology Segmentation Analysis
- Machine Learning
- Computer Vision
- Predictive Analytics
Global AI in agriculture Market: By Component Segmentation Analysis
- Hardware
- Software
- AI-as-a-Service
- Service
Global AI in agriculture Market: By Application Segmentation Analysis
- Precision Farming
- Livestock Monitoring
- Drone Analytics
- Agriculture Robots
- Others
Global AI in agriculture Market: By Deployment Segmentation Analysis
- Cloud
- On-premise
- Hybrid
Global AI in agriculture Market: Regional Segmentation Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Technological Roadmap, Patents Analysis, Potential Substitutes, and Technical Analysis
- The professionally substantiated market research report study is calculated, constructed, and assembled by implementing a Robust Research Methodology. The Triangular Process comprises a buoyant mix of Exhaustive Primary Research (focused interviews, questionnaires, and ad-hoc surveys) and Extended Secondary Research (paid external databases, proprietary in-house database, and publically-available validated sources), where it is finally triangulated and validated through in-house industry experts, industry leaders, and independent consultants through a tri-level quality check practice.
Table of Content
Key Insights from Primary Research
- According to the primary CXO’s of the global AI in agriculture market, the market is estimated to witness a substantial growth of nearly 20% over the forecast period.
- The market was valued at USD 750 million, in 2019 and is expected to be valued over USD 2, 400 million.
- By technology segmentation, the computer vision category is expected to contribute the largest market share in the global AI in agriculture market. Computer vision technology helps the farmer to detect nutritional deficiency of the plant and monitor crop health.
- On the basis of component segment, the software category led the market in 2019 and it is anticipated to grow in the future years attributed to growing use of AI software to improve efficiency of farm, and increasing need for real-time data management systems.
- By application segment, in 2019, precision farming category headed the market and it is anticipated to grow over the forecast period owing to its increasing need for maximum yield production with the growing population.
Key Recommendations from Analysts
- Our analysts recommend that the North American region continues to dominate the global market for the AI in agriculture owing toincreasing investment in R&D activities and high adoption of the new technologies.
- On the basis of deployment segment, cloud category is anticipated to boost the market in the future years. Cloud-based platform supports the access from any internet-connected device.
- Due to the rapid adoption of the agricultural robots, precision farming, advanced technology, the Asia Pacific region is projected to boost the market.
- Due to robust growth in the use of AI in agriculture, the machine learning category is estimated to enhance the market growth during the period 2020-2026.
- Owing to the adoption of the new techniques including predictive analysis, machine leaning, and computer vision helps the farmer to analyze real-time data of temperature, weather conditions, and improves crop quality, these factors may create lucrative opportunities in the market.
Market Share Analysis by Component Segment
Industry Major Market Players
- Microsoft
- Gamaya
- Precision Hawk
- Agribotix(A AgEagle Company)
- ec2ce
- Descartes Labs
- IBM
- John Deere
- The Climate Corporation
- aWhere
- Granular
- Vineview
- Taranis
- DTN
- Connecterra
- Prospera
- Cainthus
- Resson
- FarmBot
- Vision Robotics
- Trace Genomics
- CropX
- Harvest Croo
- Autonomous Tractor Corporation
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