HOME Top Market Reports AI in Agriculture Market by Technology (Machine Learning, Computer Vision, Predictive Analytics), Offering, Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring), Offering, and Geography - Global Forecast to 2025

AI in Agriculture Market by Technology (Machine Learning, Computer Vision, Predictive Analytics), Offering, Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring), Offering, and Geography - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: December 2017
Report Code: SE 5832

 

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The artificial intelligence (AI) in agriculture market was valued at USD 432.2 Million in 2016 and is expected to be valued at USD 2,628.5 Million by 2025, at a CAGR of 22.5% during the forecast period. The base year considered for this study is 2016, and the market forecast is provided for the period between 2017 and 2025.

The main objectives of this study are as follows:

  • To define, analyze, segment, and forecast the artificial intelligence (AI) in agriculture market, in terms of value, segmented on the basis of technology, offering, application, and geography
  • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the AI in agriculture market
  • To forecast the AI in agriculture market size for various segments with respect to 4 main regions: the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with detailing the competitive landscape for the market leaders

The size of the AI in agriculture market has been estimated using both top-down and bottom-up approaches. These approaches have been used to estimate and validate the size of the AI in agriculture market and various other dependent submarkets. The key players in the market have been identified through secondary research, and their regional market shares have been determined through primary and secondary research. This research has extensively used secondary sources, directories, and databases (such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial analysis of the AI in agriculture market. This entire research methodology includes the study of annual and financial reports of the top market players as well as interviews with industry experts, such as chief executive officers (CEOs), vice presidents, directors, and marketing executives, for the key qualitative and quantitative insights on the AI in agriculture market.

In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key opinion leaders. The breakup of the profiles of primary participants has been given below:

AI in Agriculture Market

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The ecosystem of the AI in agriculture market comprises technology providers, namely IBM (US), John Deere (US), Microsoft (US), Agribotix (US), The Climate Corporation (US), ec2ce (Spain), Descartes Labs (US), Sky Squirrel Technologies (Canada),  Mavrx (US), aWhere (US), Gamaya (Switzerland), Precision Hawk (US), Granular (US), Prospera (Israel), Cainthus (US), Spensa Technologies (US), Resson (Canada), FarmBot (US), Connecterra (Netherlands), Vision Robotics (US), Harvest Croo (US), Autonomous Tractor Corporation (US), Trace Genomics (US), Vine Rangers (France), and CropX (Israel).

The report also describes drivers, restraints, opportunities, and challenges impacting the growth of the AI in agriculture market. Apart from the in-depth view on the market segmentation, the report also includes the critical market data and qualitative information for each type, along with the qualitative analysis such as value chain analysis, market ranking analysis, competitive situations and trends, and competitive leadership mapping. The report targets the technology providers, software providers, system integrators, and end-user industries in the AI in agriculture market.

Target Audience:

  • Electronic hardware equipment manufacturers
  • Artificial intelligence software and solution providers
  • Artificial intelligence technology providers
  • Technical universities
  • Market research and consulting firms
  • Government research agencies and private research organizations
  • Standardization and testing firms
  • Government bodies (regulatory authorities and policymakers)
  • Installation, maintenance, and service providers
  • AI system providers
  • Research organizations and consulting companies
  • VCs, private equity firms, and startup companies

Scope of the Report:

The AI in agriculture market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The AI in agriculture market has been segmented as follows:

Scope of the Report:

The market covered in this report has been segmented as follows:

AI in Agriculture Market, by Application:

  • Precision Farming
  • Livestock Monitoring
  • Drone Analytics
  • Agriculture Robots
  • Others

AI in Agriculture Market, by Technology

  • Machine Learning
  • Computer Vision
  • Predictive Analytics

AI in Agriculture Market, by Offering:

  • Hardware
  • Software
  • AI-as-a-Service
  • Service

AI in Agriculture Market, by Region:

  • Americas
  • Europe
  • APAC
  • RoW

Available Customizations:

Technology Analysis:

  • Detailed analysis of AI technology in agriculture application

Country-Wise Information:

  • Detailed analysis of various types of AI technology and application areas in  each country

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Primary Sources
                    2.1.2.4 Key Industry Insights
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the AI in Agriculture Market
    4.2 AI in Agriculture Market, By Application
    4.3 AI in Agriculture Market, By Geography
    4.4 AI in Agriculture Market, By Offering
    4.5 AI in Agriculture Market, By Technology

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Demand for Agricultural Production Owing to Increasing Population
                    5.2.1.2 Rising Adoption of Information Management System and New, Advanced Technologies for Increasing Crop Productivity
                    5.2.1.3 Increasing Crop Productivity By Implementing Deep Learning Techniques
                    5.2.1.4 Growing Initiatives By Worldwide Governments Supporting Adoption of Modern Agricultural Techniques
           5.2.2 Restraints
                    5.2.2.1 High Cost of Gathering Precise Field Data
           5.2.3 Opportunities
                    5.2.3.1 Developing Countries to Offer Significant Growth Opportunities
                    5.2.3.2 Increasing Use of Unmanned Aerial Vehicles (UAVs) Or Drones in Agricultural Farms
           5.2.4 Challenges
                    5.2.4.1 Lack of Standards
                    5.2.4.2 Technological Unawareness in Farmers About AI
                    5.2.4.3 Limited Availability of Historical Data

6 Industry Trends (Page No. - 44)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Industry Trends

7 Artificial Intelligence in Agriculture Market, By Technology (Page No. - 47)
    7.1 Introduction
    7.2 Machine Learning
    7.3 Computer Vision
    7.4 Predictive Analytics

8 Artificial Intelligence in Agriculture Market, By Offering (Page No. - 53)
    8.1 Introduction
    8.2 Hardware
           8.2.1 Processor
           8.2.2 Storage Device
           8.2.3 Network
    8.3 Software
           8.3.1 AI Platform
           8.3.2 AI Solution
    8.4 AI-As-A-Service
    8.5 Service
           8.5.1 Deployment and Integration
           8.5.2 Support and Maintenance

9 Artificial Intelligence in Agriculture Market, By Application (Page No. - 64)
    9.1 Introduction
    9.2 Precision Farming
           9.2.1 Yield Monitoring
           9.2.2 Field Mapping
           9.2.3 Crop Scouting
           9.2.4 Weather Tracking and Forecasting
           9.2.5 Irrigation Management
    9.3 Livestock Monitoring
    9.4 Drone Analytics
    9.5 Agriculture Robots
    9.6 Other Applications
           9.6.1 Smart Greenhouse Applications
           9.6.2 Soil Management
                    9.6.2.1 Moisture Monitoring
                    9.6.2.2 Nutrient Monitoring
           9.6.3 Fish Farming Application

10 Geographic Analysis (Page No. - 93)
     10.1 Introduction
     10.2 Americas
             10.2.1 North America
                        10.2.1.1 US
                        10.2.1.2 Canada
                        10.2.1.3 Mexico
             10.2.2 South America
                        10.2.2.1 Brazil
                        10.2.2.2 Argentina
                        10.2.2.3 Rest of South America
     10.3 Europe
             10.3.1 UK
             10.3.2 Germany
             10.3.3 France
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Rest of Europe
     10.4 APAC
             10.4.1 Australia
             10.4.2 China
             10.4.3 Japan
             10.4.4 South Korea
             10.4.5 India
             10.4.6 Rest of APAC
     10.5 Rest of the World

11 Competitive Landscape (Page No. - 116)
     11.1 Introduction
     11.2 Market Ranking for AI in Agriculture Market,2016
     11.3 Competitive Scenario
     11.4 Competitive Situation and Trends
             11.4.1 Product Launches
             11.4.2 Partnerships, Agreements, & Collaborations
             11.4.3 Mergers & Acquisitions

12 Company Profiles (Page No. - 120)
     12.1 Introduction
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     12.2 IBM
     12.3 Deere & Company
     12.4 Microsoft
     12.5 Agribotix
     12.6 The Climate Corporation (Subsidiary of Monsanto)
     12.7 Granular
     12.8 Descartes Labs
     12.9 Prospera
     12.10 Mavrx
     12.11 Awhere
     12.12 Key Innovators
             12.12.1 Gamaya
             12.12.2 Ec2ce
             12.12.3 Precision Hawk
             12.12.4 Skysquirrel Technologies
             12.12.5 Cainthus
     12.13 Other Companies
             12.13.1 Tule Technologies
             12.13.2 Resson
             12.13.3 Farmbot
             12.13.4 Connecterra
             12.13.5 Vision Robotics
             12.13.6 Harvest Croo
             12.13.7 Autonomous Tractor Corporation
             12.13.8 Trace Genomics
             12.13.9 Vine Rangers
             12.13.10 Cropx
             12.13.11 Spensa Technologies

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 154)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (75 Tables)

Table 1 AI in Agriculture Market, By Technology, 2014–2025 (USD Million)
Table 2 AI in Agriculture Market for Machine Learning Technology, By Region, 2014–2025 (USD Million)
Table 3 AI in Agriculture Market for Computer Vision Technology, By Region, 2014–2025 (USD Million)
Table 4 AI in Agriculture Market for Predictive Analytics Technology, By Region, 2014–2025 (USD Million)
Table 5 AI in Agriculture Market, By Offering, 2014–2025 (USD Million)
Table 6 AI in Agriculture Market for Hardware Segment, By Type, 2014–2025 (USD Million)
Table 7 AI in Agriculture Market for Hardware Segment, By Region, 2014–2025 (USD Million)
Table 8 AI in Agriculture Market for Processors, By Type, 2014–2025 (USD Million)
Table 9 AI in Agriculture Market for Software Segment, By Type, 2014–2025 (USD Million)
Table 10 AI in Agriculture Market for Software Segment, By Region, 2014–2025 (USD Million)
Table 11 Market for AI Platforms , By Platform Type, 2014–2025 (USD Million)
Table 12 Market for AI Solutions , By Deployment Type, 2014–2025 (USD Million)
Table 13 AI in Agriculture Market for Services, By Type, 2014–2025 (USD Million)
Table 14 AI in Agriculture Market for Services, By Region, 2014–2025 (USD Million)
Table 15 AI in Agriculture Market, By Application, 2014–2025 (USD Million)
Table 16 AI in Agriculture Market for Precision Farming Application, By Region 2014–2025 (USD Million)
Table 17 AI in Agriculture Market for Precision Farming Application, By Type, 2014–2025 (USD Million)
Table 18 AI in Agriculture Market for Precision Farming Application in Americas, By Region, 2014–2025 (USD Million)
Table 19 AI in Agriculture Market in North America for Precision Farming Application, By Country, 2014–2025 (USD Million)
Table 20 AI in Agriculture Market in South America for Precision Farming Application, By Country, 2014–2025 (USD Million)
Table 21 AI in Agriculture Market in Europe for Precision Farming Application, By Country, 2014–2025 (USD Million)
Table 22 AI in Agriculture Market in Asia Pacific for Precision Farming Application, By Country, 2014–2025 (USD Million)
Table 23 AI in Agriculture Market in RoW for Precision Farming Application, By Region, 2014–2025 (USD Million)
Table 24 AI in Agriculture Market for Livestock Monitoring Application, By Region, 2014–2025 (USD Million)
Table 25 AI in Agriculture Market in Americas for Livestock Monitoring Application, By Region, 2014–2025 (USD Million)
Table 26 AI in Agriculture Market in North America for Livestock Monitoring Application, By Country 2014–2025, (USD Million)
Table 27 AI in Agriculture Market in South America for Livestock Monitoring Application, By Country, 2014–2025 (USD Million)
Table 28 AI in Agriculture Market in Europe for Livestock Monitoring Application, By Country, 2014–2025 (USD Million)
Table 29 AI in Agriculture Market in Asia Pacific for Livestock Monitoring Application, By Country, 2014–2025 (USD Million)
Table 30 AI in Agriculture Market in RoW for Livestock Monitoring Application, By Region, 2014–2025 (USD Million)
Table 31 AI in Agriculture Market for Drone Analytics Application, By Region, 2014–2025 (USD Million)
Table 32 AI in Agriculture Market in Americas for Drone Analytics Application, By Region, 2014–2025 (USD Million)
Table 33 AI in Agriculture Market in North America for Drone Analytics Application, By Country, 2014–2025 (USD Million)
Table 34 AI in Agriculture Market in South America for Drone Analytics Application, By Country, 2014–2025 (USD Million)
Table 35 AI in Agriculture Market in Europe for Drone Analytics Application, By Country, 2014–2025 (USD Million)
Table 36 AI in Agriculture Market in Asia Pacific for Drone Analytics Application, By Country, 2014–2025 (USD Million)
Table 37 AI in Agriculture Market in RoW for Drone Analytics Application, By Region, 2014–2025 (USD Million)
Table 38 AI in Agriculture Market for Agriculture Robots Application, By Region, 2014–2025 (USD Million)
Table 39 AI in Agriculture Market in Americas for Agriculture Robots Application, By Region, 2014–2025 (USD Million)
Table 40 AI in Agriculture Market in North America for Agriculture Robots Application, By Country, 2014–2025 (USD Million)
Table 41 AI in Agriculture Market in South America for Agriculture Robots, By Country, 2014–2025 (USD Million)
Table 42 AI in Agriculture Market in Europe for Agriculture Robots Application, By Country, 2014–2025 (USD Million)
Table 43 AI in Agriculture Market in Asia Pacific for Agriculture Robots Application, By Country, 2014–2025 (USD Million)
Table 44 AI in Agriculture Market in RoW for Agriculture Robots Application, By Region, 2014–2025 (USD Million)
Table 45 AI in Agriculture Market for Other Applications, By Region, 2014–2025 (USD Million)
Table 46 AI in Agriculture Market in Americas for Other Applications, By Region, 2014–2025 (USD Million)
Table 47 AI in Agriculture Market in North America for Other Applications, By Country, 2014–2025 (USD Million)
Table 48 AI in Agriculture Market in South America for Other Applications, By Country, 2014–2025 (USD Million)
Table 49 AI in Agriculture Market in Europe for Other Applications, By Country, 2014–2025 (USD Million)
Table 50 AI in Agriculture Market in Asia Pacific for Other Applications, By Country, 2014–2025 (USD Million)
Table 51 AI in Agriculture Market in RoW for Other Applications, By Region, 2014–2025 (USD Million)
Table 52 AI in Agriculture Market, By Region, 2014–2025 (USD Million)
Table 53 AI in Agriculture Market in Americas, By Application, 2014–2025 (USD Million)
Table 54 AI in Agriculture Market in Americas, By Technology, 2014–2025 (USD Million)
Table 55 AI in Agriculture Market in Americas, By Offering, 2014–2025 (USD Million)
Table 56 AI in Agriculture Market in Americas, By Region, 2014–2025 (USD Million)
Table 57 AI in Agriculture Market in North America, By Country, 2014–2025 (USD Million)
Table 58 AI in Agriculture Market in South America, By Country, 2014–2025 (USD Million)
Table 59 AI in Agriculture Market in Europe, By Application, 2014–2025 (USD Million)
Table 60 AI in Agriculture Market in Europe, By Technology, 2014–2025 (USD Million)
Table 61 AI in Agriculture Market in Europe, By Offering, 2014–2025 (USD Million)
Table 62 AI in Agriculture Market in Europe, By Country, 2014–2025 (USD Million)
Table 63 AI in Agriculture Market in Asia Pacific, By Application, 2014–2025 (USD Million)
Table 64 AI in Agriculture Market in Asia Pacific, By Technology, 2014–2025 (USD Million)
Table 65 AI in Agriculture Market in Asia Pacific, By Offering, 2014–2025 (USD Million)
Table 66 AI in Agriculture Market in Asia Pacific, By Country, 2014–2025 (USD Million)
Table 67 AI in Agriculture Market in RoW, By Application, 2014–2025 (USD Million)
Table 68 AI in Agriculture Market in RoW, By Technology, 2014–2025 (USD Million)
Table 69 AI in Agriculture Market in RoW, By Offering, 2014–2025 (USD Million)
Table 70 AI in Agriculture Market in RoW, By Region, 2014–2025 (USD Million)
Table 71 Ranking Analysis of the Top Players in the Artificial Intelligence (AI) in Agriculture Market, 2016
Table 72 Market Evaluation Framework—Partnerships and Agreements Emerged as Major Growth Strategies Between 2014 and 2017
Table 73 Product Launches, 2014–2017
Table 74 Partnerships, Agreements, and Collaborations, 2014–2017
Table 75 Mergers & Acquisitions, 2014–2017


List of Figures (47 Figures)

Figure 1 AI in Agriculture Market Segmentation
Figure 2 Geographic Scope
Figure 3 AI in Agriculture Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Breakdown and Data Triangulation
Figure 7 Assumptions for Research Study
Figure 8 Global AI in Agriculture Market, 2014–2025 (USD Million)
Figure 9 Software Segment Expected to Hold the Largest Size of the AI in Agriculture Market During the Forecast Period
Figure 10 AI in Agriculture Market for Drone Analytics Application Expected to Grow at the Highest Rate During the Forecast Period
Figure 11 Computer Vision Technology Expected to Grow at the Highest Rate During the Forecast Period
Figure 12 AI in Agriculture Market in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 13 AI in Agriculture Market to Grow at A High Rate Between 2017 and 2025
Figure 14 Australia to Hold the Largest Share in 2017
Figure 15 US Held the Largest Share of the Global AI in Agriculture Market in 2016
Figure 16 Software Segment Held the Largest Market Share in 2016
Figure 17 Machine Learning Technology Expected to Hold the Largest Market Size During the Forecast Period
Figure 18 Artificial Intelligence (AI) in Agriculture Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Estimated Amount of Data Generated By the Iot-Connected Farm Each Day (2015–2025)
Figure 20 Software, Hardware, and Testing Solution Providers Play A Crucial Role in the Value Chain of AI in Agriculture Market
Figure 21 AI in Agriculture Market for Computer Vision Technology Expected to Grow at the Highest CAGR Between 2017 and 2025
Figure 22 Americas to Hold the Largest Market Size for Computer Vision Technology During 2017–2025
Figure 23 AI in Agriculture Market in Asia Pacific for Predictive Analytics Technology Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Market for Hardware Segment Estimated to Grow at the Highest CAGR Between 2017 and 2025
Figure 25 AI in Agriculture Market in Asia Pacific for Hardware Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Market for AI Platform Software Expected to Grow at the Highest CAGR During the Forecast Period
Figure 27 Americas Held the Largest Size of the AI in Agriculture Market for Services in 2016
Figure 28 AI in Agriculture Market, By Application, 2017 vs 2025 (USD Million)
Figure 29 Americas Expected to Hold the Largest Size of the AI in Agriculture Market for Precision Farming By 2025
Figure 30 AI in Agriculture Market in Mexico for Precision Farming Application Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 AI in Agriculture Market in Germany for Precision Farming Application Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Americas Expected to Dominate the AI in Agriculture Market for Livestock Monitoring Applications During 2017–2023
Figure 33 Brazil to Account for the Largest Size of the AI in Agriculture Market for Livestock Monitoring Application By 2025
Figure 34 Asia Pacific Expected to Exhibit the Highest Growth in the AI in Agriculture Market for Drone Analytics Application During the Forecast Period
Figure 35 Brazil Likely to Account for the Largest Size of the AI in Agriculture Market for Drone Analytics Application By 2025
Figure 36 Americas to Hold the Largest Size of the AI in Agriculture Market for Agriculture Robots Application By 2025
Figure 37 AI in Agriculture Market in Argentina for Agriculture Robots Expected to Grow at the Highest CAGR During the Forecast Period
Figure 38 Americas to Account for the Largest Size of the AI in Agriculture Market for Other Applications By 2025
Figure 39 Geographic Snapshot: Rapidly Growing Markets Such as Australia, China, and India are Emerging as New Hot Spots for the Global AI in Agriculture Market
Figure 40 Americas: AI in Agriculture Market Snapshot
Figure 41 Europe: AI in Agriculture Market Snapshot
Figure 42 APAC: AI in Agriculture Market Snapshot
Figure 43 Partnerships, Agreements, & Acquisitions Emerged as Key Growth Strategies Adopted By Companies Between 2014 and 2017
Figure 44 Geographic Revenue Mix of Major Market Players
Figure 45 IBM : Company Snapshot
Figure 46 Deere & Company: Company Snapshot
Figure 47 Microsoft: Company Snapshot

The AI in agriculture market is expected to grow from USD 518.7 Million in 2017 to USD 2,628.5 Million by 2025, at a CAGR of 22.5% between 2017 and 2025. The major factors driving the growth of the AI in agriculture market include the growing demand for agricultural production owing to the increasing population, rising adoption of information management systems and new, advanced technologies for improving crop productivity, increasing crop productivity by implementing deep learning techniques, and growing initiatives by worldwide governments supporting the adoption of modern agricultural techniques. The combination of the Internet of Things and artificial intelligence technologies, such as machine learning, computer vision, and predictive analytics, further allow farmers to analyze real-time data of weather conditions, temperature, soil moisture, plant health, and crop prices in the market.

The AI in agriculture market report has been segmented on the basis of offering, technology, application, and region. Based on offering, the AI in agriculture market has been classified into hardware, software, AI-as-a-Service, and service. The software segment held the largest market size in 2016. The market for the software segment is mainly driven by the integration of mobile technologies with farming techniques, growing use of artificial intelligence software to improve farm efficiency, and rising demand for real-time data management systems. The market for the hardware segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for processors and data storage devices for farm operations is the major factor that is likely to contribute to the high growth rate of the hardware market in the coming years.

Based on technology, the AI in agriculture market has been classified into machine learning, computer vision, and predictive analytics. Machine learning held the largest market size owing to the growing adoption of this technology for various applications of agriculture such as precision farming, drone analytics, agriculture robots, and livestock monitoring. Machine learning-enabled solutions are being significantly adopted by agricultural organizations and farmers worldwide to enhance farm productivity and to gain a competitive edge in business operations. Moreover, in the coming years, applications of machine learning for various agricultural activities are expected to rise exponentially. On the basis of application, the AI in agriculture market has been segmented into precision farming, livestock monitoring, drone analytics, agriculture robots, and others. Others application include smart greenhouse management, soil management, and fish farming management. The precision farming application held the largest market share in 2016. The application of precision farming is likely to continue to hold the largest market size in the coming years due to the high adoption rate of artificial intelligence technologies for this application.

On the basis of region, the AI in agriculture market has been classified into the Americas, Europe, Asia Pacific, and RoW. The AI in agriculture market in Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The increasing adoption of deep learning and computer vision technologies for agricultural applications is the major driving factor for the market growth in the APAC region.  Farmers in countries such as Australia, China, Japan, and India are increasingly adopting machine learning, deep learning, computer vision, and predictive analytics technologies.

AI in Agriculture Market

A major factor restraining the growth of the AI in agriculture market is the high cost of gathering precise field data. AI technology requires high initial investments, efficient farming tools, and skilled and knowledgeable farmers or growers, among others, thereby making farmers apprehensive to use this technology for gathering precise field data.

The climate corporation (a subsidiary of Monsanto) is a digital agriculture company that examines weather, soil, and field data to help farmers to improve farming operations and crop productivity. The company offers the climate field view platform, which helps farmers in increasing productivity with digital tools. The company’s innovative product portfolio includes Field View Platform, Climate Field View Prime, Climate Field View Plus, and Climate Field View Pro Mobile SaaS solutions. These innovative products help farmers in increasing profitability by enabling better informed operating decisions.

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