LONDON--(BUSINESS WIRE)--The global artificial intelligence market in agriculture industry is expected to grow by USD 205.87 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 22%. Request free sample pages
Read the 120-page report with TOC on "Artificial Intelligence Market in Agriculture Industry Analysis Report by Application (Robotics, Crop and soil management, and Animal husbandry) and Geographic Landscape (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the need for maximizing profits in farm operations. In addition, the advances in AI technology are anticipated to boost the growth of the artificial intelligence market in agriculture industry.
Maximizing yield and output of crops and animals is important to increase profits in farm operations. Smart or precision agriculture is rapidly emerging as a technology that will help the farmers to enhance the deliverables in agriculture. With AI technologies on the rise, farmers can control and monitor the equipment, crop, and livestock through their smartphones and also receive statistical predictions for crops and livestock. In animal husbandry, advanced AI technologies, through sensors and visual imaging, can quickly analyze the health and physical well-being of a particular animal and flag deviations in case of any disease or ailment. In this way, the animal can be treated in due course of time without the risk of spreading the infection to other animals. Such timely monitoring results in cost-savings by helping farmers take precautionary measures. Thus, the need for maximizing profits will drive the demand for AI in agriculture sector.
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Major Five Artificial Intelligence in Agriculture Industry Companies:
Ag Leader Technology
Ag Leader Technology has business operations under various segments, such as farm management, guidance and steering, planting, application, harvest, and water management. The company's key offerings include Agfiniti, SMS software, Yield Monitor, and IntelliSlope.
aWhere Inc. operates its business through various segments, such as in-time weather data, weather insights, maps for economic resilience, and bundled solutions. The company offers Pest and Disease modeling, Optimal planting date, Fertilizer timing recommendation, Product suitability and site similarity, and environmental trend analysis.
GAMAYA has business operations under two segments: Canefit and Soyfit. The company offers Weed Detection & Classification, Detection of Nematodes, Plant Nutrient Content, and Yield Prediction & Growth Monitoring.
Granular operates its business through two segments: engine and platform. The company offers Model Selection, Model Deploy, Geospatial Results, and Insights.
International Business Machines Corp.
International Business Machines Corp. has business operations under various segments, such as cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. The company offers Watson Decision Platform for agriculture AI.
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Artificial Intelligence Market in Agriculture Industry Application Outlook (Revenue, USD mn, 2020-2024)
- Robotics - size and forecast 2019-2024
- Crop and soil management - size and forecast 2019-2024
- Animal husbandry. - size and forecast 2019-2024
Artificial Intelligence Market In Agriculture Industry Regional Outlook (Revenue, USD mn, 2020-2024)
- North America - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- South America - size and forecast 2019-2024
- MEA. - size and forecast 2019-2024
- Key leading countries
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