Market Size of Artificial Intelligence in Agriculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Agriculture AI Market Analysis
The global artificial intelligence in agriculture market is projected to register a CAGR of 4.2% during the forecast period.
- Artificial intelligence techniques for agriculture help boost productivity and yield. Consequently, agribusiness corporations adopt artificial intelligence technologies in terms of predictive analytics-based resolutions.
- AI-based applications and techniques can maximize crop yields, driving the market. According to the United Nations (UN), the global population is projected to reach 9.8 billion by 2050. And limited arable land availability and the need for increased food production for food security drive a green revolution fuelled by the Internet of Things (IoT), artificial intelligence, and big data.
- Moreover, an increase in the adoption of cattle face recognition technology is driving the market. By applying advanced metrics, including cattle facial recognition programs and image classification incorporated with body condition scores and feeding patterns, dairy farms can now monitor all behavioral aspects in a group of cattle individually.
- However, the need for more data collection and sharing standardization is restraining the market growth. Machine learning, artificial intelligence, and algorithm designs have advanced fast, but collecting well-tagged, meaningful agricultural data needs to catch up. This holds back the market's growth during the forecast period.
