Precision Farming Application Dominated AI in Agriculture Market

By 2050, the population will increase by 9.8 billion, predicts the UN Food and Agriculture Organization. On the other hand, just 4% more land will be farmed by then. In this view, one of the most important criteria is still the employment of advanced technical solutions to increase farming efficiency.

While AI has numerous immediate applications in a variety of industries, such as farming, it will also improve crop quality and speed up the time it takes to get commodities to the industry. The AI in agriculture market is expected to touch USD 8,308.5 million by 2030, as per P&S Intelligence.

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This is largely attributed to the rising need for high agricultural production, the expanding focus on improved crop management, and the expanding use of drones for pesticide spraying, as well as the growing adoption of the IoT in the agricultural industry.

Precision farming had the highest revenue share, at around 35%. This is because there is a growing need to produce crops with the highest yield possible given the limited resources at hand, which lowers the cost of agricultural production.

Additionally, the market for precision farming is being driven by the IoT's growing adoption in the agriculture sector. For irrigation control, field mapping, and other purposes, agricultural producers and managers are utilizing the capabilities of GNSS and GPS systems, sensors, and automated steering devices.

The industry category with the highest predicted CAGR, above 25%, is drone analytics. This is due to the increased need for high-quality food crops to meet the expanding global population and the growth in venture investment for the development of drones.

Further, there is an increase in the use of commercial drones in key application sectors such as power and utilities, precision agriculture, and media and entertainment.

The usage of mobile devices and cloud computing is expanding, and IoT is becoming more popular due to its many advantages, including its capacity to manage massive amounts of both organized and unstructured data.

Moreover, IoT sensors, for instance, are used in agricultural activities to give farmers important information regarding, among other things, soil nutrition, crop yields, rainfall, and insect infestation. Such information is beneficial for increasing crop productivity and provides accurate data that can be utilized to increase farming practices and product quality.

Additionally, as the world's population grows, so does the demand for cutting-edge agricultural technologies to boost food production. As a result, agricultural businesses and farmers are quickly embracing the advantages of IoT for crop analytics and increased production capacity to satisfy the need for more food.

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As a result, the market is being driven by increased usage of IoT technology in agricultural applications due to the growing need for smart agriculture and precise farming.

One significant trend in the business is the growing usage of robots in agriculture. Farming techniques are getting more complex and advanced as technology is used in agriculture more and more.

Furthermore, there is an increase in the usage of agricultural robots globally due to the expanding world population, a shortage of farm employees, and industrial automation in agriculture.

The main goals of agricultural stakeholders are to increase output productivity via the use of modern farming techniques and lessen the overall carbon imprint. As a result, there is a growing need for robots. Additionally, robotics businesses are launching products with AI-enabled capabilities to function in unpredictable and dynamic agricultural contexts.

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This release was published on openPR.