Global AI in agriculture market is projected to witness a CAGR of 24.63% during the forecast period 2024-2031, growing from USD 3.01 billion in 2023 to USD 17.52 billion in 2031. The fast paced expansion of the market is taking place as advanced technologies are being embraced as measures of increasing agricultural productivity and efficiency. For instance, traditional farming practices have been changed through the use of deep learning, robotic vision, and prognostic techniques which are cases of artificial intelligence. With these tools, farmers can practice precision farming where data from sensors, drones, and satellites is analyzed so that irrigation, fertilization, and pest control can be optimized resulting in reduced resources usage and increased yield. Moreover, livestock monitoring, crop management, and soil health analysis are other potential areas where an AI tool plays a pivotal role, helping farmers to make informed decisions based on precise information.
Sustainable farming practices are in high demand in today’s world as they are solutions to climate change challenges and the ever-growing global food requirements. Major companies in this field have put a lot of resources into innovation and technology to come up with artificial intelligence systems that specifically address agricultural issues. Also, cloud-based platforms, rising use of robots, and automation tools in farms are expected to support market growth.
At the regional level, North America is leading this market due to advanced technological infrastructure and large investments in agri-tech. Nevertheless, Asia-Pacific is projected to have the highest growth rates as countries such as China and India have been embracing AI technologies as a way of boosting crop production to be self-sufficient in terms of food. The global AI in agriculture market has potential for immense growth which presents enormous possibilities for technology suppliers and farmers.
In March 2024, a new robot called TOOGO from the French company SIZA Robotics was launched and available for pre-order, with delivery expected in 2025. TOOGO is a commercial pre-series of an autonomous vegetable and beet robot.
Growing Need for Sustainable Agricultural Practices Spur the Adoption of AI in Agriculture
Growing requirements for climatic change and safe food production are major factors in AI in agriculture market which drives its growth. With climate change affecting nations and increasing populations at alarming rates, the world has started emphasizing the use of sustainable agricultural systems that would help in ensuring the availability of food whilst reducing the harm done to nature.
Excessive water, fertilizer, and pesticide applications are often part of the traditional farming exercises that lead to soil degradation, water pollution as well as increased amounts of greenhouse gases in the atmosphere. AI technologies provide solutions by making better use of resources, improving soil health and enhancing efficiency in crop yield. For instance, in February 2024, Carbon Autonomous Robotics Systems launched Track LaserWeeder, an extension to the company’s LaserWeeder model. It is made to support the LaserWeeder’s weight more effectively in muddy areas and soft soils. When the machine is outfitted with tracks instead of wheels, its ground pressure is limited to 6.5 psi. The improvements include multilingual support for the iPad operator app and spatial data intelligence in the Carbon Ops Center.
Read More: https://www.marketsandata.com/industry-reports/ai-in-agriculture-market
In addition, AI instruments support observation of plant well-being, forecasting climatic systems and early detection of pests that enable timely measures which minimize the use of chemicals. Since sustainability is a priority for buyers, governments, and farm owners, AI-based eco-friendly agricultural systems will witness a steady rise in demand, increasing the market size.
Labor Shortages and High Labor Costs Fuel the Market Growth
The adoption of AI technologies in agriculture is being driven essentially by factors such as labor shortages and high labor costs. The declining rural workforce and the rising difficulty in finding skilled labor willing to take up intensive farming tasks present as major challenges faced by the farming industry in many parts of the world today. Additionally, this problem is worsened by an increment in aged farming communities and the migration of youthful workers to cities for improved employment prospects.
Consequently, farmers have a hard time due to mounting labor costs. In this case, there are effective solutions such as the use of AI technologies such as robotics and automation that can help in addressing these challenges by automating repetitive and labor-intensive tasks such as planting, weeding, harvesting, and monitoring crops and livestock. It reduces the reliance on human work and makes it more efficient. In May 2024, DigiFarm AS, a Norwegian company, created an artificial intelligence model capable of autonomously detecting field boundaries. A deep neural network is trained to recognize boundaries and other field features, such trees, grain, and water. With 57 countries providing 4 million hectares of training data, their model has grown to be very vast and requires a substantial amount of processing power for training.
Natural Language Processing Technology Holds a Substantial Market Share
Natural Language Processing (NLP) technology has a huge market share in the AI in agriculture market as it is able to improve communication and decision-making in the farming community. NLP allows user-friendly interfaces and voice-activated systems that can recognize oral language, thus making complex AI applications available to farmers who are less technically skilled. It enables farmers to have conversations with artificial intelligence systems so that they can have access to important information such as weather predictions, pest and disease alerts, and crop management.
In addition, natural language processing can be integrated into virtual assistants and chatbots offering real-time substitutes to aid farmers make choices quickly. Furthermore, it allows conversion of specialist farming knowledge into several dialects, thus creating a broad scope of its application over diverse territories and among different languages. There is a growing need for agriculture-driven AI solutions that are seamless and intuitive together with NLP advantages, including better accessibility and increased data interpretation, contributing to its great acceptance rate in the larger landscape of agricultural AI. In March 2024, Bayer AG launched a GenAI system pilot program planned to help agronomists and farmers in their day-to-day work. The launch is an expert system that can swiftly and precisely respond to agronomy, farm management, and Bayer agricultural goods inquiries. The intuitive technology responds to natural language and produces expert knowledge in a matter of seconds, as opposed to a laborious procedure.
North America Holds the Largest Market Share
North America is dominating global AI in agriculture market due to several reasons. The region has a large technology base and is one of the leading regions in the world that adopt modern technologies in various industries including agriculture. As a result, farmers in North America are advocating for the use of artificial intelligence to optimize their farming practices, increase yields, and minimize costs through using machine learning, computer vision, predictive analytics and other forms of AI. The existence of large agritech firms along with startups in the United States and Canada has contributed to a rapid progress and coverage of inventive AI solutions to suit demands by farmers across the continent. In February 2024, Deere & Company launched its AI-powered weed-sensing system, See & Spray Premium, which triggers individual spray nozzles when target weeds are seen by boom-mounted cameras scanning a crop, covering more than 2,100 square feet every second.
In addition, the robust government backing of sustainable farming methods and technological breakthroughs, for instance, subsidies to promote precision farming, is helping farmers buy AI instruments. Furthermore, automation and AI solutions that answer issues of labor scarcity and elevated production expenses are helping economies to grow in this sector. Thus, North America dominates the agricultural AI market with influences that shape the world’s activities.
Future Market Scenario (2024 – 2031F)
1. As AI technologies evolve, their use in agriculture is expected to become more advanced, incorporating features such as real-time data analysis, predictive modeling, and automated decision-making.
2. The launch of robots and machine tools is expected to drastically change the way farming is done by enhancing efficiency and minimizing reliance on human labor especially in areas that are characterized by acute shortages of workers.
3. The amalgamation of AI with other advancing technologies such as Internet of Things (IoT), cloud computing, and blockchain will result in the rise of intelligent agricultural systems that avail intelligent and informed choices to farmers.
Report Scope
“AI in Agriculture Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global AI in agriculture market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com