LONDON--(BUSINESS WIRE)--Technavio has been monitoring the artificial intelligence market in agriculture industry and it is poised to grow by USD 205.87 million during 2020-2024, progressing at a CAGR of over 22% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ag Leader Technology, aWhere Inc., GAMAYA, Granular, International Business Machines Corp., Iteris Inc., Deere & Co., Microsoft Corp., Raven Industries Inc., and Trimble Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The need for increasing profits in farm operations has been instrumental in driving the growth of the market. However, high initial investment involved in robotics might hamper market growth.
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Artificial Intelligence Market in Agriculture Industry 2020-2024: Segmentation
Artificial Intelligence Market in Agriculture Industry is segmented as below:
- Crop And Soil Management
- Animal Husbandry
- North America
- South America
Artificial Intelligence Market in Agriculture Industry 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The artificial intelligence market in agriculture industry report covers the following areas:
- Artificial Intelligence Market in Agriculture Industry Size
- Artificial Intelligence Market in Agriculture Industry Trends
- Artificial Intelligence Market in Agriculture Industry Industry Analysis
This study identifies Advances in AI technology as one of the prime reasons driving the Artificial Intelligence Market in Agriculture Industry growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Artificial Intelligence Market in Agriculture Industry 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist artificial intelligence market in agriculture industry growth during the next five years
- Estimation of the artificial intelligence market in agriculture industry size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the artificial intelligence market in agriculture industry
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of artificial intelligence market in agriculture industry, vendors
Table of Contents:
Five Forces Analysis
Market Segmentation by Product
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