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Artificial Intelligence In Agriculture Market Size (2024 - 2029)

The artificial intelligence in agriculture market is experiencing growth driven by the adoption of AI technologies that enhance productivity and yield. The increasing use of predictive analytics and AI-based applications is contributing to this expansion, as they help maximize crop yields and address the challenges of limited arable land and the need for increased food production. Additionally, the adoption of cattle face recognition technology is further propelling the market by enabling more precise monitoring of livestock. However, the market's growth is somewhat hindered by the lack of standardized data collection and sharing practices, which is essential for leveraging advancements in machine learning and AI.

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Market Size of Artificial Intelligence In Agriculture Industry

Artificial Intelligence in Agriculture Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 2.08 Billion
Market Size (2029) USD 5.95 Billion
CAGR (2024 - 2029) 23.40 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Artificial Intelligence in Agriculture Market Major Players

*Disclaimer: Major Players sorted in no particular order

Artificial Intelligence in Agriculture Market Analysis

The Artificial Intelligence In Agriculture Market size is estimated at USD 2.08 billion in 2024, and is expected to reach USD 5.95 billion by 2029, at a CAGR of 23.40% during the forecast period (2024-2029).

  • The adoption of artificial intelligence in agriculture is accelerating due to several key factors. These include the increasing global population driving food demand, rapid technological progress, a shift towards data-driven decision-making, and advancements in robotics and drones. Additionally, government initiatives are fuelling this momentum. For instance, in February 2024, the Indian government launched 'Kisan e-Mitra', an AI chatbot designed to assist farmers with inquiries related to the PM Kisan Samman Nidhi scheme. The government noted that the chatbot supports multiple languages and will expand to include additional government initiatives.
  • AI-driven agricultural technologies are transforming precision farming by providing customized treatments for crops based on their specific needs. This approach optimizes resource use, reduces chemical inputs, and promotes sustainable practices. By analyzing data on weather, soil, and crop health, AI helps farmers increase yields, reduce waste, and minimize environmental impacts. A notable initiative in 2024, led by Jane’s Weather and supported by Hort Innovation, aims to enhance weather-related information for individual growers, tailored to their unique terrains and operational needs.
  • Another significant advantage of AI in agriculture is its ability to automate routine tasks through smart machinery and robotics. Small Robot Company (SRC), a British agriculture robotics startup, deployed its agricultural robots to approximately 50 farms during the 2022-2023 growing season. This innovation addresses labour shortages and allows farmers to focus on strategic planning and management. Such developments are expected to create new opportunities for market players, encouraging them to introduce innovative and practical AI solutions.

Artificial Intelligence in Agriculture Industry Segmentation

Artificial intelligence (AI) in agriculture uses machine learning and technology to enhance farming and food supply. It helps farmers make informed decisions by analyzing data and automating tasks for greater efficiency. The Artificial Intelligence in Agriculture market report has been segmented by application (weather tracking, precision farming, and drone analytics), deployment (cloud, on-premise, and hybrid), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market sizing and forecasts in terms of Value (USD) for all the above segments.

Application
Weather Tracking
Precision Farming
Drone Analytics
Deployment
Cloud
On-premise
Hybrid
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa
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Artificial Intelligence In Agriculture Market Size Summary

The artificial intelligence in agriculture market is experiencing a transformative phase, driven by the need to enhance productivity and yield in the face of a growing global population and limited arable land. AI technologies, including predictive analytics and IoT integration, are being increasingly adopted by agribusinesses to maximize crop yields and ensure food security. The market is also witnessing a surge in the use of advanced technologies such as cattle face recognition, which allows for individual monitoring of cattle behavior, thereby optimizing dairy farm operations. However, the market's growth is somewhat hindered by challenges in data collection and standardization, which are crucial for the effective implementation of machine learning and AI algorithms in agriculture.

The decline in the agricultural labor force, due to factors like an aging population and the unappealing nature of farming for younger generations, is prompting a shift towards automation through AI technologies. This labor shortage is a global issue, affecting both developed and developing regions, and is encouraging investments in AI-driven solutions to maintain production levels. North America, in particular, is poised for significant growth in this sector, supported by its robust industrial automation industry and substantial investments in AI research and development. The presence of major agricultural technology providers in the region further bolsters the market, as they continue to innovate and introduce advanced AI solutions. Despite the competitive and fragmented nature of the market, with numerous players offering similar products, the ongoing technological advancements and strategic partnerships are expected to drive the adoption of AI in agriculture, paving the way for future growth.

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Artificial Intelligence In Agriculture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Demand for Increased Food Productivity

      2. 1.2.2 Growing Government Investments

      3. 1.2.3 Increasing Product Innovations

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Technical Expertise for Data Handling

      2. 1.3.2 High Investment and Operational Costs

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Weather Tracking

      2. 2.1.2 Precision Farming

      3. 2.1.3 Drone Analytics

    2. 2.2 Deployment

      1. 2.2.1 Cloud

      2. 2.2.2 On-premise

      3. 2.2.3 Hybrid

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 Italy

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Rest of Africa

Artificial Intelligence In Agriculture Market Size FAQs

The Artificial Intelligence In Agriculture Market size is expected to reach USD 2.08 billion in 2024 and grow at a CAGR of 23.40% to reach USD 5.95 billion by 2029.

In 2024, the Artificial Intelligence In Agriculture Market size is expected to reach USD 2.08 billion.

AI in Agriculture Market Report Snapshots

Artificial Intelligence In Agriculture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)