The global artificial intelligence in agriculture market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 25.4% from 2019 to 2025. Artificial intelligence solutions in the agricultural industry are emerging in various forms, such as soil and crop monitoring, agricultural robots, and predictive analytics. Farmers and agribusiness corporations are increasingly using soil sampling and artificial intelligence -enabled sensors for data gathering for better analysis and processing. The availability of these processed data has paved the way for the deployment of artificial intelligence in agriculture and farming.
Rapidly
increasing global population is one of the key factors driving the need for
artificial intelligence in agriculture. The global population is expected to
reach 9.8 billion by 2050, according to the UN. Subsequently, food production
must increase significantly as well. Artificial intelligence enables efficient
and potential farming techniques for increased crop productivity and yield. For
instance, the artificial intelligence Sowing App developed by Microsoft sends
sowing advisories on the optimal date for crop sowing to farmers. It enhances
the farmers’ efficiency in terms of planting and forecasting weather
conditions.
The
Asia Pacific market is expected to witness substantial growth over the forecast
period, owing to increasing adoption of artificial intelligence -enabled
solutions and services by agriculture-technology-based companies in emerging
economies. Emerging economies such as India and China have started implementing
artificial intelligence technologies such as machine learning and computer
vision to increase crop yield. Favorable regulations and standards in these
countries encourage the implementation of modern techniques in farming and
agriculture. For instance, in July 2019, the government of India began the use
of artificial intelligence for yield estimation and crop cutting to cut down
the cost of farming and increase productivity.
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Further key
findings from the report suggest:
- Surge in the
deployment of predictive analytics solutions in the farming and
agriculture industry has created massive potential for artificial
intelligence solutions in the agricultural industry
- Several
benefits of artificial intelligence, such as prevention of cost overruns,
weather forecasting, remote monitoring, weed detection, and irrigation
management encourages the implementation of artificial intelligence in
agriculture for increased productivity
- Market
players are focusing on providing advanced artificial intelligence and big
data in the agricultural industry, which offers advanced features such as
crop scouting, field mapping, and yield monitoring
- Key market
players are considering partnerships and acquisitions of startups
providing innovative products to expand their range of artificial
intelligence solutions for the agricultural industry
- Key
competitors in the market are IBM Corporation; Microsoft; Deere &
Company; AgEagle Aerial Systems Inc.; The Climate Corporation; Granular,
Inc.; Descartes Labs, Inc.; Prospera Technologies; Taranis; aWhere Inc.;
GAMAYA; ec2ce; PrecisionHawk; VineView; and Tule Technologies Inc.; among
others.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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