Artificial Intelligence in Agriculture Market Skyrockets to $7.97 Billion by 2030 Dominated by Tech Giants - Tule Technologies Inc, Precisionhawk Inc and Easytosee Agtech Sl | The Insight Partners

The global artificial intelligence in agriculture market is set for explosive growth, with projections indicating a surge to $7.97 Billion by 2030. This remarkable expansion, driven by shifting preference from traditional to AI-based farming methods and robotics and automation in agriculture.

/EIN News/ -- US & Canada, Dec. 16, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, “Artificial Intelligence in Agriculture Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Application, and Geography”, the Artificial Intelligence (AI) in Agriculture Market is observing significant growth owing to increasing need for real-time analytics in agriculture industry.

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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Artificial Intelligence (AI) in Agriculture Market comprises of component and application which are expected to register strength during the coming years.

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Market Overview and Growth Trajectory:

Artificial Intelligence in Agriculture Market Growth: According to an exhaustive report by The Insight Partners, the Artificial Intelligence in Agriculture Market is experiencing significant growth, driven by growing research and development activities to develop AI-based solutions. The market, valued at $1.63 Billion in 2022, is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.9% during 2022–2030.

Real-Time Analytics: Real-time data from agricultural farms enables timely decision-making for preventative measures. AI provides real-time data and insights on soil moisture, crop growth, and weather conditions, which helps farmers make informed decisions about planting, irrigation, and fertilization. For instance, using computer vision to monitor crop growth can help farmers identify issues such as disease and pest infestation early, allowing them to take action before any significant damage. Farmers in North America, South America, and Europe employ sensors, drones, and soil samples in their farms to collect data related to soil moisture and nutrient levels. Farmers and producers in the US, Canada, Brazil, and Western Europe use high-tech instruments for data collection and analysis. The collection of the right data provides appropriate calculations and optimization of several operations, allowing more precise agriculture and faster decisions.

Government Support: The governments of various countries are focusing on agriculture and innovation with the launch of several technologies. For instance, in September 2021, the French government launched AgriTech to support the development, maturation, and export of know-how in the AgriTech and FoodTech sectors. In addition, as per January 2024 data, researchers at Harper Adams University are trying to make farming more sustainable and productive with AI. The UK government has announced US$ 39.82 million in funding to support the development of artificial intelligence projects across diverse sectors such as farming, fashion, and emergency services.

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Technological Advancements: Various countries are adopting IoT and AI to transform its agriculture sector. Various smart greenhouses are using sensors and machine learning algorithms to create an optimal controlled environment for plant growth. In November 2023, Ploovium, a project, was exhibited at Maker Faire Rome 2023. It is an advanced preventive irrigation planning solution. The software knows when to rinse, and the smart, precise app learns the water behavior of the soil and communicates five days in advance when to irrigate and how much water to give to each field. Ploovium combines the use of data analytics, AI, sensors, big data, and mechanical actuators.

Geographical Insights: North America dominated the Artificial Intelligence (AI) in Agriculture Market in 2023. Europe is the second-largest contributor to the global Artificial Intelligence (AI) in Agriculture Market, followed by Asia Pacific.

Artificial Intelligence in Agriculture Market Segmentation, Applications, Geographical Insights:

• Based on component, the market is segmented into hardware, software, and services. The hardware segment held a larger Artificial Intelligence (AI) in Agriculture Market share in 2023.
  
  
• Based on application, the market is divided into precision farming, drone analytics, agriculture robots, livestock monitoring, and others. The precision farming segment held a larger Artificial Intelligence (AI) in Agriculture Market share in 2023.
  
  

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Key Players and Competitive Landscape:

The Artificial Intelligence in Agriculture Market is characterized by the presence of several major players, including:

• Tule Technologies Inc
• Precisionhawk Inc
• Easytosee Agtech Sl
• Deere & Co
• Climate LLC
• Gamaya Sa
• International Business Machines Corp
• Microsoft Corp
• Prospera Technologies Ltd
• Taranis

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Artificial Intelligence in Agriculture Market Recent Developments and Innovations:

• "DeepAgro, an Argentine company, unveiled their artificial intelligence-based crop selective weeder technology, SprAI, at the Global Consumer Electronics Show (CES) in Las Vegas, US.”
  
  
• “DJI Agriculture introduced the Mavic 3 Multispectral.”
  
  
• “Microsoft is aiming to build tools that help farmers grow more sustainably by leveraging data and AI.”
  
  

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Conclusion:

Artificial intelligence (AI) is revolutionizing agriculture industry. Predictive analytics, computer vision, machine learning, and data analytics are helping agriculture overcome obstacles and realize its full potential. The use of Al in agriculture allows for data collection and analysis from a variety of sources, including soil conditions, weather patterns, crop health, and historical data.

Al-based systems can provide farmers with valuable information for increasing yields, reducing waste, and minimizing environmental concerns. Farmers and stakeholders can employ data-driven insights and intelligent decision-making to boost productivity, optimize resource use, and deal with agronomic issues. Smart machinery and robotics can be used to automate monotonous tasks in agriculture. These advances help farms address workforce shortages and focus on strategic planning and management.

Shifting preference from traditional to AI-based farming methods, growing use of unmanned ariel vehicles (UAVs) in farming, and increasing need for real-time analytics in agriculture are driving the market. The market is anticipated to grow during the forecast period, due to the growing government support for implementation of AI solutions. Moreover, growing research and development activities to develop AI-based solutions and increasing smart farming are creating lucrative opportunities for the market.

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With projected growth to $7.97 Billion by 2030, the Artificial Intelligence in Agriculture Market represents a significant opportunity for solution providers, system integrators, and end-users. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

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