A newest report by Research Dive on the global artificial intelligence in agriculture market discloses that the market is expected to exceed $6000 million by 2027, growing at a CAGR of 25.50% from 2020 to 2027.
The report includes the current scenario and future scope of the market. The research report is an ideal source of information for businesses and individuals in search of complete insights and statistics pertaining to the artificial intelligence in agriculture industry. The report furnishes key market segments, boosters, limitations, and investment opportunities during the forecast period.
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Factors Impacting the Market Growth:
According to the UN, the global hunger is expected to increase by 50% by 2050, and to fulfil these needs the agriculture industry has to up its game by adopting artificial intelligence techniques in farming. As a result, the rising adoption of AI in agriculture is boosting the growth of the global artificial intelligence in agriculture market. In addition, growing population and technological developments all over the world are driving the growth of the market. Moreover, rise in R&D and developments in the AI sector are likely to open up rewarding opportunities for the market growth. However, high costs involved in implementing AI techniques is expected to restrain the market growth.
The report segments the artificial intelligence in agriculture market into deployment, application, and region.
Based on deployment, the report classifies the market into following sub-segments:
Among these, the cloud segment is expected to experience significant growth during the estimated period; mostly because cloud offers its user the advantage to store, study, and evaluate the data or information about self and other agricultural activities.
Based on application, the report bifurcates the market into the following sub-segments:
- Weather Tracking
- Precision Farming
- Drone Analytics
Among these, the drone analytics segment is projected to witness to noteworthy growth in the forecast period. This is mainly owing to the growing usage of drones for monitoring and mapping agricultural land.
The report offers the condition of the global artificial intelligence in agriculture market over numerous regions including the following:
- Asia Pacific
- North America
Among these, the European region is estimated to observe augmented growth in the forecast period. This is mainly due to the growing adoption of intelligent systems in the region for enhancing the gross output and rising focus on the integration of agriculture techniques and highly advanced technologies.
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Market Players and Business Strategies:
The report mentions some of the leading players in the global artificial intelligence in agriculture market including the following:
- Farmers Edge Inc.
- AgEagle Aerial Systems Inc.
- The Climate Corporation
- aWhere Inc.
- Granular, Inc.
- Deere & Company
- Descartes Labs, Inc.
- INTERNATIONAL BUSINESS MACHINES CORPORATION
- GAMAYA, Inc.
The report caters some of the top business strategies of the players such as geographical expansions, mergers and acquisitions, innovative developments, innovative product launches, along with Porter Five analysis and SWOT analysis.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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