Artificial Intelligence (AI) in agriculture is gaining popularity across various applications within the agriculture such as computerized water systems, drone analytics, driverless tractors, among others. Key players allocating significant resources and investment to keep up with the fierce market corporations with continuous product development. The recent development of Artificial Intelligence (AI), machine learning, and Internet of Things (IoT) and its implementation across various business segment also paved the way for greater development of AI in agriculture. Over the past years, there has been an upsurge in several agricultural technology trends, thus, helping farmers to enhance their crop yield and quality. For instance, drones equipped with multi-spectral, hyper-spectral, or thermal sensors are capable of identifying areas that need modifications in irrigation. As crops are in progress to grow, these sensors monitor their health status, and vegetation index by evaluating the crop’s thermal signature. However, the factors such as lack of standardization in data collection and data sharing is likely to restrict the growth of AI in agriculture industry. Although the artificial intelligence and machine learning technologies along with their advanced algorithm design have gained prominence in the past few years, the collection of meaningful, well-tagged agricultural data yet remains lagging and unstructured.

Component Segment

The global AI in agriculture solution market contains hardware, software, and service segment. In 2019, the software segment is likely to hold a significant market share due to the growing requirements of AI-based for the agricultural sector. These software facilitate farmers evaluate and monitor crop yield, appropriate time for sowing, determine suitable amount of fertilizers, water, land, and pesticides, and detect crop diseases.

Technology Segment

Based on the technology segment, the market is bifurcated into predictive analytics, computer vision, and machine learning. Predictive analytics is anticipated to hold a considerable market share within the AI in agriculture industry. Predictive analysis enables farmers address the challenges such as weed management, pest control, weather tracking, irrigation & drainage management, among others, with the help of neural networks and image analysis. Moreover, drone-equipped agricultural solutions have been used to support predictive analytics.

Application Segment

Based on the application segment, the market is bifurcated into agriculture robots, drone analytics, livestock monitoring, precision farming, and others. In 2019, the precision farming segment gathered the largest market revenue and it is anticipated to dominate the market throughout the forecast period. Precision farming uses artificial intelligence for data interpretation, collection, and analysis of digital information. For example, GPS-enabled combine harvesters use AI to monitor the harvest produce for field unpredictability analysis that includes differences in soil makeup, water, or fungus, to generate georeferenced information.

The global AI in agriculture solution industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific region is expected to be the prominent region with the countries such as India as the highest AI in agriculture market. Countries such as Japan, China, and South Korea are anticipated to be at the forefront in the adoption of AI in agriculture owing to increased technological investment in the countries. Moreover, rising trend of cloud-based solution in medium and large industries propels the demand for AI in agriculture in the region.

The major players of the global AI in agriculture solution market are IBM, Deere & Company, AgEagle Aerial Systems, Microsoft, The Climate Corporation, Granular, Prospera Technologies, Taranis, aWhere, Descartes Labs, Tule Technologies, and more. The AI in agriculture solution market is fragmented with the existence of well-known global and domestic players across the globe.