Press release
AI in Agriculture Market 2020: Global Survey Report, COVID-19 Impact and Overwhelming Hike of Billion-Dollar Industry | IBM, Microsoft Corporation, Trace Genomics, Spensa Technologies, Resson
AI in Agriculture Market
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Market Analysis: Global AI in Agriculture Market
The Global AI in Agriculture Market accounted for USD 432.5 million in 2017 and is projected to grow at a CAGR of 22.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Major Market Competitors: Global AI in Agriculture Market
Some of the major players in global AI in agriculture market are IBM, Microsoft Corporation, Descartes Labs, Deere & Company, Granular, aWhere, The Climate Corporation¸ Agribotix LLC, Tule Technologies, Prospera, Mavrx Inc., Cropx, Harvest Croo, Farmbot, Trace Genomics, Spensa Technologies Inc., Resson, Vision Robotics and Autonomous Tractor Corporation among others.
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Market Definition: Global AI in Agriculture Market
Artificial Intelligence (AI) in agriculture is utilization of cognitive technologies that helps in learning, reasoning, understanding and interacting, which in result increases the efficiency. It offers various advantages such as Image recognition and insight, chatbots for farmers, help IoT achieve its maximum potential and determine the best options to maximize return on crops.
Market Segmentation: Global AI in Agriculture Market
On the basis of offering, the global AI in agriculture market is segmented into hardware, software, service, AI-As-A-Service. Hardware is sub segmented into network, storage device and processor. Software is sub segmented into AI Platform and AI Solution. Service is sub segmented into support and maintenance and deployment and integration.
On the basis of technology, the global AI in agriculture market is segmented into predictive analytics, machine learning and computer vision.
On the basis of application, the global AI in agriculture market is segmented into livestock monitoring, precision farming, agriculture robots, livestock monitoring, drone analytics and others. Precision farming is sub segmented into yield monitoring, crop scouting, weather tracking and forecasting, field mapping and irrigation management. Others are sub segmented into smart greenhouse applications, fish farming application and soil management. Soil Management is further sub segmented into nutrient monitoring and moisture monitoring.
On the basis of geography, the global AI in agriculture market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Major AI in Agriculture Market Drivers:
Increasing adoption of new advanced technologies and IMS
Rising demand for agricultural production
Government support and initiatives for the adoption of modern agricultural techniques
Maximizing crop productivity along with the implementation of various techniques
Increasing use of drones in agricultural farms
AI in Agriculture Market Restraint:
High Cost involved during precise field data collection.
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