AI in Agriculture Market Worth Thermo Fisher Scientific Inc. (U.S.), GAMAYA (Switzerland), PrecisionHawk (U.S.) Million at 19.9% CAGR; Industry Giants Like IBM and Cisco to Upgrade up Investments to Develop Advanced Latest Key Technology: Straits Research

AI in Agriculture Market

Artificial Intelligence in the agriculture market was valued at USD 509.06 million in 2017 and is expected to grow at CAGR 19.9% over the forecast period 2019–2026.
Artificial intelligence in agriculture is expected to witness significant growth during the forecast period, 2019—2026.  This is attributed growing adoption of information management systems, and new technologies for improving crop productivity using deep learning techniques has resulted to drive the growth of the AI in agriculture market. Additionally, increasing global population projects to the need of increased productivity in agriculture industry to meet rising global demand for food. According to United Nations report, the current world population is 7.6 billion which is expected to reach 8.6 billion in 2030, 9.8 billion in 2050 and 11.2 billion by 2100.

Artificial intelligence (AI) in agriculture is deployment of cognitive technologies that assists in learning, reasoning, understanding & interacting, and increases the efficiency of farming operational systems. AI in agriculture has become integral part of farming practices as it is improving quality production of crops. Additionally, increase in research and development of advanced robotics technology in the agriculture sector has led to shift the focus of farmers from traditional farming practices to refining the product using enhanced farming methods such as drones, automated systems, and robots.

New technologies being introduced by the companies for enhancing crop productivity using different decision making and analytical techniques to overcome the global demand for food. For instance, Thermo Fisher Scientific Inc. one of the key players in the market launched global customer solution centers on September 2018, focusing to support scientists in food, beverages, pharmaceutical and biotech industries to overcome key challenges such as global food security.

Prolific increase in the penetration of Internet of Things (IoT) in the agriculture industry is expected to be one of the major driving factors in growth of AI in agriculture market. Apart from this, robotics being a current trend in the technology, robotics along with AI in agriculture is expected to propel the market growth. Furthermore, increasing adoption of robots in agriculture sector while AI being the backbone of robotics is expected to boost the market growth during the forecast period, 2019—2026.

This has attributed to more sophisticated and modernized farming practices. Rise in consumption and intense requirement of better yield of crops motivates farmers to opt for better farming operations that results to the requirement of automated farming operations/systems. Implementation of AI in agriculture is expected to bring in opportunities for yield management including planting, fertilizing, harvesting and other functionalities required in farming operations.

Machine learning technology is expected to drive the AI in agriculture market during the forecast period in the technology segment. This is attributed to increase in adoption of advanced innovative technology in agriculture industry by farmers. Additionally, embracing machine learning technology by farmers across the globe are projected to propel the market growth in this segment. Machine learning provides farmers and businesses in agriculture in better decision-making and understanding to analyze real-time data of weather circumstances, temperature, condition of crop, and others. These features of machine learning technology are expected to foster the growth of AI in agriculture market in near future.

North America as well as Europe are expected to dominate the global AI in agriculture market during the forecast period, 2019—2026. This is attributed to rapid adoption of advanced AI-enabled technologies in the region. With drones, robots, and intelligent monitoring systems being used in research and field trials AI is expected to bring in technological revolution in the future of farming practices in the region. According to the ‘How to feed the world in 2050’ report of United Nations Food and Agriculture Organization (FAO), the global population is expected to reach 9.1 billion by 2050. This results to the need of more food products owing to the expected increase in food consumption rate that can be acquired by greater efficiency with current farming methods.

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The Major Prominent Players Covered in this Report:
Thermo Fisher Scientific Inc. (U.S.), GAMAYA (Switzerland), PrecisionHawk (U.S.), Cainthus Ireland Limited (Ireland), VineView (U.S.), Easytosee Agtech, S.L. (Spain), Vision Robotics Corporation (U.S.), Trace Genomics, Inc. (U.S.), RESSON (Canada), Connecterra (Netherlands), Harvest Croo (U.S.). & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Component
Solution
Hardware
Software
Others
Services
Managed
Professional

By Technology
Machine Learning
Computer Vision
Predictive Analytics

By Application
Precision Farming
Livestock Monitoring
Drone Analytics
Agriculture Robots
Others

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

View this report with a detailed description and TOC @ https://straitsresearch.com/report/ai-in-agriculture-market/toc

Key AI in Agriculture Market Trends:
- The report identifies, determines, and forecasts the Global AI in Agriculture Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the AI in Agriculture Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global AI in Agriculture Market.

Key Questions Answered in The Report:
What will the AI in Agriculture market growth rate?
What are the key factors driving the global AI in Agriculture market?
Who are the key manufacturers in the AI in Agriculture market space?
What are the market opportunities, market risk, and market overview of the AI in Agriculture market?
What are sales, revenue, and price analysis of top manufacturers of the AI in Agriculture market?
Who are the distributors, traders, and dealers of the AI in Agriculture market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the AI in Agriculture Industry?
What are sales, revenue, and price analysis by regions of AI in Agriculture industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Why buy this report?
Our report covers the artificial intelligence in agriculture market insights, focusing on recent developments in the market in different regions and development strategies of the companies. Moreover, following sections are specifically covered in the report.

Competitor Analysis
Market concentration of top five players
Analysis of artificial intelligence in agriculture market by regions
Potential Ventures

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