AI in Agriculture | Worldwide Markets to 2024: Favorable Government Initiatives & Rise in Adoption of SaaS Business Model Present Opportunities
DUBLIN, Dec. 13, 2019 /PRNewswire/ -- The "Global Artificial Intelligence (AI) in Agriculture Market: Focus on Product Type (Software, Hardware, AI-as-a-Service), Farming Type (Field Farming, Livestock, Indoor), Application (Crop Protection, Weather Forecasting, Automation), Funding - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Global Artificial Intelligence (AI) in Agriculture Market Analysis projects the market to grow at a significant CAGR of 28.38% during the forecast period from 2019 to 2024.
The reported growth in the market is expected to be driven by the increasing need to optimize farm operation planning, growing demand to derive insights from emerging complexities of data-driven farming and rising development of autonomous equipment in agriculture.
The reduction in expenditure and resultant positive RoI with AI's integration in farm equipment and operations has even reached above 30% in a few countries. Such favorable advantages associated with the technology have led to extensive investments by all types of stakeholders including government, private investors, corporations, and academic institutions, from across the world.
The global artificial intelligence in the agriculture market (on the basis of application) is segmented into crop protection, weather forecasting, precision farming, farm machinery automation, crop growth assessment, and other applications under the category crop, fruit, and vegetable farming. The market is also segmented into animal growth monitoring, animal health monitoring, and other applications under the category livestock and aquaculture farming. The crop protection segment dominated the global artificial intelligence in agriculture market in 2018. Applications such as farm machinery automation and precision farming (across crop and livestock) are anticipated to experience higher growth rates over the forecast period (2019-2024).
The global artificial intelligence in the agriculture market by region is segregated under four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions has been provided by country. Interesting regional market dynamics have also been provided in the report.
Key Companies in the Global Artificial Intelligence in Agriculture Market
The key market players in the global artificial intelligence in agriculture market include Alibaba Group Holding Limited, AgEagle Aerial Systems Inc., BASF SE, The Climate Corporation (A Bayer AG Company), Deere & Company, IBM Corporation, JD.com Inc., Microsoft Corporation, Robert Bosch GmbH, SAP SE, Connecterra B.V., Descartes Labs, Gamaya SA, Granular Inc., Harvest Croo Robotics, PrecisionHawk, Prospera Technologies Ltd., Root AI Inc., SZ DJI Technology Co. Ltd., Vineview, AGCO Corporation, Capgemini SE, Cargill Inc., CNH Industrial N.V., Iteris Inc., Lindsay Corporation, Abundant Robotics Inc., aWhere Inc., Aquabyte Inc., Ceres Imaging, Delair, ecoRobotix Ltd., Farmers Edge, Taranis, and XAG Co. Ltd., among others.
Key Topics Covered
1 Market Dynamics
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