An Artificial
Intelligence (AI) is a formation of intelligent machines which work and respond
& react like humans. It is employed to develop the efficiency of daily
tasks. Evolving technology, crop health monitoring, driverless tractors,
adoption of robots & drones, and automated irrigation system are some of
the key applications which recognize high growth of the market. Highly
competent crop monitoring is offered by drone & sophisticated software
technologies for instance GPS system and radar, enable to decrease pressure on
accessible strained workforce. Furthermore, remote sensing methods are also
used to review the quality & crop producing ability of an agricultural
land.
According to
study, “Global Artificial Intelligence
in Agriculture Market Size Study, by Technology (Computer Vision, Predictive
Analytics, Machine Learning), by Application (Agriculture Robots, Livestock
Monitoring, Drone Analytics, Precision Farming, Others), by Offering
(AI-as-a-service, Software, Hardware, Service), and Regional Forecasts,
2017-2025 (USD Billion/Million)” some of the key companies currently working in the global
artificial intelligence in agriculture market are John Deere, The Climate
Corporation, Agribotix, Spensa Technologies, Tule Technologies, Microsoft, Prospera,
Vine Rangers, Resson, Harvest Croo, Vision Robotics, Case IH Agriculture, Trace
Genomics, Skysquirrel Technologies, Intel Corp., The Climate Corp., Farmers
Edge Inc., Prospera, Resson, Ag Leader Technology, Sentient Technologies, Microsoft,
Google Inc., NVIDIA Corp., Iteris, Precision Hawk, Gamaya, Trimble, Mavrx, SST
Software, IBM Corp., Bayer CropScience AG, Numenta Inc., Mapshots Inc., Granluar,
Farmbot, Raven Industries, Descartes Labs, AGCO, Cropx, Gamaya, Ec2ce,
Connecterra, Awhere, Agribotix, Cainthus, Autonomous Tractor Corp.
Based on
technology, the global artificial intelligence in agriculture market is
segmented into predictive analysis, computer vision and machine learning. Based
on offering, market is categorized into software, AI-as-a-service, service (support
& maintenance and deployment & integration) and hardware. Software
includes AI solution and AI platform. Hardware includes storage device and
processor. Furthermore, based on mode of application, market is defined as
drone analytics, agriculture robots, precision farming, animal husbandry, livestock
monitoring and others (nutrient monitoring, moisture monitoring, smart
greenhouse applications, fish farming application and soil management).
Precision farming is further sub-segmented into weather tracking &
forecasting, field mapping, yield monitoring, irrigation management, crop scouting
and other applications.
The global
artificial intelligence in agriculture is mainly driven by growing demand for
agriculture production due to the rising adoption of information management system
(IMS), growing trend of precision farming, increasing penetration of internet
of things (IOT), increasing population, increasing adoption of smart sensors, increasing
consumption of food, growing need for better yield of crops, and advanced or
new technologies for improving crop productivity. Apart from advantages, the
key restraint factor includes high cost of gathering precise field data. In
addition, some of the major challenges are technological unawareness in farmers
about AI, lack of standards and limited availability of historical data.
Additionally, some of the new opportunities are increasing use of Unmanned
Aerial Vehicles (UAVs) and developing countries to offer significant growth
opportunities etc.
Europe and North
American regions are the biggest & most mature markets to exploit innovative
technologies in the field of agriculture, while Asia-Pacific has the maximum
potential for the development. In 2017, the global artificial intelligence in
agriculture market size was US$240 million and it is anticipated to reach
US$1100 million, by the end of 2025 at a high growth rate of 20.8 % over the
forecast period.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
