Global AI In Precision Farming Market to Reach $1.95 Billion by 2029, Growing at 20% CAGR

What market dynamics are playing a key role in accelerating the growth of the ai in precision farming market?
The scarcity of suitable agricultural land, referred to as arable land, is anticipated to drive the expansion of the artificial intelligence (AI) in precision farming industry in the future. Factors such as urban expansion, soil erosion, and climate change have led to this limited availability of land fit for agriculture. AI in precision farming provides solutions to these challenges by efficiently utilizing resources and increasing crop output with data-informed decisions and targeted actions. As an example, in August 2022, the US Department of Agriculture reported that the average cost of farm real estate in the United States had surged to $3,800 per acre in 2022, marking a $420 per acre or 12.4 percent upturn from 2021. The average price of farmland, in turn, was stated to be $5,050 per acre, showing an increase of $630 per acre or 14.3 percent from the previous year. Hence, the scarcity of arable land is fueling the growth of the AI in precision farming industry.

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How will the growth rate of the ai in precision farming market shape industry trends by 2034?
The market for AI in precision farming has expanded considerably in the last few years. This sector, valued at $0.78 billion in 2024, is predicted to increase to $0.94 billion in 2025, showing a compound annual growth rate (CAGR) of 20.3%. The surge during the past period is a result of advancements in AI algorithms, a greater need for food production, lowering costs, environmental sustainability considerations, as well as government backing and subsidies.

There is a forecast of swift expansion in the AI in precision farming market in the coming years, with a prediction for it to swell to $1.95 billion by 2029, recording a CAGR of 20.0%. Several factors are contributing to this predicted growth during the estimated period. These are the increased use of IoT devices, heightened awareness about environmental conservation, surging demand for sustainable farming, a notable shift towards intelligent farming systems, and a call for greater quality and traceability in the industry. Anticipated trends during this period include the alliance with robotics, crop monitoring tools, the application of AI in the optimization of supply chains, the rise of precision irrigation systems empowered by technology, and the development of decision support systems.

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What trends are poised to drive the future success of the ai in precision farming market?
Major corporations active in the AI precision farming sector are striving to establish strategic alliances to enhance their competitive presence in the market. These alliances are integral to propelling AI in precision farming, by utilizing the capabilities and assets of multiple organizations to invent cutting-edge solutions, increase usability, and tackle primary hurdles in the agricultural sector. For instance, Sway AI, an American firm that broadens no-code artificial intelligence applications, banded with Trilogy Networks, another US-based agricultural tech company in March 2022. This collaboration aims to foster the application of AI in precision farming. Through this alliance, Sway AI became a part of the Rural Cloud Initiative (RCI), an innovative edge and network group that backs and hastens the digital transformation of rural America. This partnership signifies a comprehensive AI-enabled precision farming solution for growers. Sway AI and Trilogy Networks joined forces to consolidate data and enhance decision-making across the entire production process, thereby addressing the burgeoning problem of data fragmentation in the industry.

Which primary segments of the ai in precision farming market are driving growth and industry transformations?
The AI in precision farming market covered in this report is segmented -

1) By Type: Machine Learning, Computer Vision, Other Types
2) By Offering: Hardware, Software, AI-as-a-Service, Service
3) By Application: Experimental Study, Farm Management, Private Planting, Other Applications

Subsegments:
1) By Machine Learning: Predictive Analytics For Crop Yields, Soil Quality Monitoring, Pest And Disease Detection, Crop Growth Prediction
2) By Computer Vision: Crop And Weed Identification, Field Monitoring Through Drones, Crop Damage Detection, Automated Harvesting Systems
3) By Other Types: Robotics In Farming, Natural Language Processing (NLP) For Farm Data Analysis, AI-Powered Irrigation Systems

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Which geographical regions are pioneering growth in the ai in precision farming market?
North America was the largest region in the AI in precision farming market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in precision farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the ai in precision farming market landscape?
Major companies operating in the AI in precision farming market report are 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

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What Is Covered In The AI In Precision Farming Global Market Report?

• Market Size Forecast: Examine the ai in precision farming market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in precision farming market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in precision farming market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in precision farming market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in precision farming market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in precision farming market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in precision farming market.
• Competitive Landscape: Review strategic developments in the ai in precision farming market, including expansions, agreements, and new product launches.

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