According to the latest research report, the market for Artificial Intelligence in Agriculture is expected to reach USD 2,628.5 Million by 2025, with a growing CAGR of 22.5 percent. The market, in 2017, was valued USD 518.7 Million. Several factors are attributed to the rapid growth of the market including the escalating demand for agricultural production owing to the increasing population, increasing adoption of information management systems and new, advanced technologies for fostering crop productivity, boosting crop productivity by deploying Deep Learning methods, and rising initiatives by global governments supporting the adoption of modern agricultural techniques.
Machine Learning-optimized solutions are being significantly adopted by agricultural organizations and farmers to improve farm productivity and to achieve a competitive edge in business operations. Furthermore, the application of Machine Learning and computer vision in various agricultural practices is expected to rise exponentially in near future. Apart from this, Machine learning AI technology anticipated to hold the largest market share throughout the forecast timeframe. Due to the rising adoption of Machine Learning technology by farmers worldwide accelerating the demand for this technology in the agriculture marketplace. Because this technology enables farmers and agribusinesses to make better decisions based on findings in real time. The market research report also illustrated the major factors that are responsible for the growth of the AI in agriculture market for a precision farming application that comprises the augmenting concentration on farm productivity due to mounting population and requirement for improving food quality. Precision farming technologies support in making traditional agricultural activities more efficient and predictable.
On the other hand, the growing adoption of agriculture robots in farming applications for increasing productivity and crop health monitoring are also the key factors contributing to the demand for AI in precision farming applications. On the basis of region, the Americas is a major market for AI in agriculture and predicted to hold the largest market size during the estimated timeframe. In this region, the increasing demand for advanced agricultural solutions is expected to drive the growth of the AI in the agriculture market.