Press release
AI In Precision Farming: Soaring Market Size with Impressive 20.3% CAGR, Propelled by Advanced Algorithms and Food Production Demand
AI In Precision Farming Market
What Is The Projected Market Size Of The Global AI In Precision Farming Global Market Report 2025 And Its Growth Rate?
The AI in precision farming market has seen prolific growth over the years and shows promising future prospects:
- The market will grow from $0.78 billion in 2024 to $0.94 billion in 2025, boasting an impressive compound annual growth rate (CAGR) of 20.3%.
- Major contributing factors to this historic period growth include the evolution of AI algorithms, increasing demand for food production, cost reduction, environmental sustainability, and government support and subsidies.
- By 2029, the AI in precision farming market size is predicted to surge to $1.95 billion at a steady compound annual growth rate (CAGR) of 20.0%.
- This prospective growth can be tied to factors like increasing adoption of IoT devices, rising environmental concerns, growing demand for sustainable agriculture, a shift towards smart farming systems, and an amplified demand for quality and traceability.
What Is Driving The Growth In The AI In Precision Farming Global Market Report 2025?
Limited arable land is fueling the AI in precision farming market growth. Arable lands, suitable for crop cultivation, are becoming scarcer due to encroaching urbanization, soil degradation, and climate change. AI in precision farming addresses these challenges by optimizing resource usage and enhancing crop productivity through data-driven decisions and targeted interventions. As per the United States Department of Agriculture, the average value of farm real estate in the United States reached $3,800 per acre in 2022, reflecting a surge of $420 per acre, or 12.4 percent, compared to 2021. The average value of cropland also increased by $630 per acre, or 14.3 percent, from the previous year. Therefore, the limited availability of arable land is a driving factor for the growth of the AI in precision farming market.
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Who Are the Key Players Driving AI In Precision Farming Global Market Report 2025 Growth?
Prominent players leading the innovation in the AI in precision farming market include:
- Microsoft Corporation
- Robert Bosch GmbH
- Intel Corporation
- International Business Machines Corporation
- Bayer AG
- Deere & Company
- SAP SE
- Yara International ASA
- DTN LLC
- FarmWise Labs Inc.
- Taranis Visual Ltd.
- Blue River Technology Inc.
- Agworld Inc.
- Ceres Imaging Inc.
- PrecisionHawk Inc.
- FarmLogs Inc.
- Prospera Technologies Ltd.
- Arable Labs Inc.
- Agribotix LLC
- Resson Aerospace Corporation
What Are The Key Trends In The AI In Precision Farming Global Market Report 2025?
Trends shaping the future of AI in precision farming include:
- Integration with robotics
- Development of tools for crop monitoring
- Adoption of AI for supply chain optimization
- Emergence of technology-driven precision irrigation systems
- Emergence of decision support systems
What Are The Segments Of The Global AI In Precision Farming Global Market Report 2025?
The AI in precision farming market is categorized based on the following segments:
1) Type: Machine Learning, Computer Vision, Other Types
2) Offering: Hardware, Software, AI-as-a-Service, Service
3) Application: Experimental Study, Farm Management, Private Planting, Other Applications
Which Region Leads The AI In Precision Farming Global Market Report 2025?
North America dominated the AI in precision farming market in 2024, while Europe is expected to witness the fastest growth. The global report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The AI In Precision Farming Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the AI In Precision Farming Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the AI In Precision Farming Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall AI In Precision Farming Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the AI In Precision Farming Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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