Global Artificial Intelligence (AI) in Agriculture Market Study (2019-2024): Set to Exhibit a CAGR of 28.38% During the Forecast Period -…

Dublin, Dec. 13, 2019 (GLOBE NEWSWIRE) -- 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.

Artificial intelligence has emerged to be a strong driving force behind the growth of data-driven farming. Regions and countries where agriculture is the major source of livelihood and sustenance, artificial intelligence technology has led to greater profitability in the farms of those economies.

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.

Expert Quote

Artificial intelligence has become the leader of deep technologies in the era of precision agriculture. It has created the widest impact across agricultural sectors including crop and livestock over recent years. Governments of the majority of the leading countries in the agriculture market are working on their respective national AI strategies. This technology has fastened the digital transformation process, even in sluggish agricultural economies. Its capability to enable precision and autonomy in farm operations has especially caught the attention of growers across the world.

Scope of the Report

The global artificial intelligence in agriculture market research provides a detailed perspective regarding the adoption of AI technology in the agriculture industry, its market size in value, its estimation, and forecast, among others. The purpose of this market analysis is to examine the outlook of artificial intelligence technology in the agriculture industry in terms of factors driving the market, trends, developments, and regulatory landscape, among others.

The report further takes into consideration the funding and investment landscape, government initiatives landscape, market dynamics, and the competitive landscape, along with the detailed financial and product contributions of the key players operating in the market. The artificial intelligence in the agriculture market report is a compilation of different segments including market breakdown by product offering, farming type, application, and region.

Market Segmentation

The global artificial intelligence in the agriculture market (on the basis of product offering) is segmented into software, hardware, AI-as-a-Service, and support services. The software segment dominated the global artificial intelligence in the agriculture market in 2018 and is anticipated to maintain its dominance in market size throughout the forecast period (2019-2024) with hardware and AI-as-a-Service experiencing higher growth rates.

The global artificial intelligence in the agriculture market (on the basis of farming type) is segmented into field farming, livestock farming, indoor farming, and other farming types such as aquaculture. The field farming segment dominated the global artificial intelligence in the agriculture market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).

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

Executive Summary

1 Market Dynamics1.1 Overview1.2 Impact Analysis1.3 Market Drivers1.3.1 Growing Need for Precision and Efficiency in Agricultural Operations1.3.2 Emerging Complexities in Data-Driven Farming1.3.3 Rising Demand for Autonomous Equipment1.4 Market Restraints1.4.1 Data Privacy Concerns Among Farmers1.4.2 Lack of Technical Infrastructure in Developing Countries1.5 Market Opportunities1.5.1 Favorable Government Initiatives to Support AI in Agriculture1.5.2 Increase in Implementation of Robots and Drones in Agriculture1.5.3 Rise in Adoption of SaaS Business Model in Agriculture

2 Competitive Insights2.1 Key Strategies and Developments2.1.1 Partnerships, Collaborations, and Joint Ventures2.1.2 Product Launches and Developments2.1.3 Business Expansions and Contracts2.1.4 Mergers and Acquisitions2.1.5 Others (Awards and Recognition)2.2 Competitive Benchmarking of Agricultural AI Analytics Companies

3 Industry Analysis3.1 Artificial Intelligence in Agriculture: Technology Ecosystem3.1.1 AI Technology Stack3.1.1.1 AI-Powered Technologies3.1.1.1.1 Machine Learning3.1.1.1.2 Computer Vision3.1.1.1.3 Deep Learning3.1.1.1.4 Speech Recognition Technology3.1.1.1.5 Other Technologies3.1.1.2 Hardware3.1.1.2.1 Memory3.1.1.2.2 Storage3.1.1.2.3 Logic3.1.1.2.4 Networking3.1.1.3 Others3.1.1.4 AI Technology Classifications3.1.1.4.1 AI Technology (by Functionality)3.1.1.4.1.1 Reactive Machines3.1.1.4.1.2 Limited Memory3.1.1.4.1.3 Theory of Mind3.1.1.4.1.4 Self-Awareness3.1.1.4.2 AI Technology (by Capability)3.1.1.4.2.1 Weak AI3.1.1.4.2.2 General AI3.1.1.4.2.3 Strong AI3.1.2 Key AI Use Cases in Agriculture3.1.2.1 Predictive Analytics3.1.2.2 Drones / UAVs3.1.2.3 Robotics3.1.2.4 Autonomous Vehicles3.2 Key Consortiums and Associations3.3 Investment and Funding Landscape3.4 Government Initiatives Landscape3.4.1 North America3.4.2 Europe3.4.3 Asia-Pacific3.4.4 Rest-of-the-World

4 Global Artificial Intelligence in Agriculture Market (by Product Offering), $Million4.1 Assumptions and Limitations for Analysis and Forecast of the Global Artificial Intelligence in Agriculture Market4.2 Market Overview4.3 Software4.4 Hardware4.5 Artificial Intelligence-as-a-Service (AIaaS)4.6 Support Services

5 Global Artificial Intelligence in Agriculture Market (by Farming Type), $Million5.1 Market Overview5.2 Field Farming5.3 Indoor Farming5.4 Livestock Farming5.5 Others

6 Global Artificial Intelligence in Agriculture Market (by Application), $Million6.1 Market Overview6.2 Crops, Fruits, Vegetables, and Other Plants6.2.1 Crop Protection6.2.2 Weather Forecasting6.2.3 Precision Farming6.2.4 Farm Machinery Automation6.2.5 Crop Growth Assessment6.2.6 Others6.3 Livestock and Aquaculture6.3.1 Animal Growth Monitoring6.3.2 Animal Health Monitoring6.3.3 Others

7 Global Artificial Intelligence in Agriculture Market (by Region), $Million7.1 Market Overview7.2 North America7.3 Europe7.4 Asia-Pacific7.5 Rest-of-the-World (RoW)

8 Company Profiles8.1 OverviewPublic CompaniesExisting Market Players8.2 Alibaba Group Holding Limited8.3 AgEagle Aerial Systems Inc.8.4 BASF SE8.5 The Climate Corporation (a Bayer AG Company)8.6 Deere & Company8.7 IBM Corporation8.8 JD.com, Inc.8.9 Microsoft Corporation8.10 Robert Bosch GmbH8.11 SAP SEEmerging Market Players8.12 AGCO Corporation8.13 Capgemini SE8.14 Cargill, Inc.8.15 CNH Industrial N.V.8.16 Iteris, Inc.8.17 Lindsay CorporationPrivate PlayersExisting Market Players8.18 Connecterra B.V.8.19 Descartes Labs, Inc.8.20 Gamaya SA8.21 Granular Inc.8.22 Harvest Croo Robotics, LLC8.23 PrecisionHawk Inc.8.24 Prospera Technologies Ltd.,8.25 Root AI, Inc.8.26 SZ DJI Technology Co. Ltd8.27 VineViewEmerging Market Players8.28 Abundant Robotics Inc.8.29 Aquabyte, Inc.8.30 aWhere Inc.8.31 Ceres Imaging Inc.8.32 Delair8.33 ecoRobotix Ltd.8.34 Farmers Edge8.35 Taranis Ag8.36 XAG Co., Ltd.

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Global Artificial Intelligence (AI) in Agriculture Market Study (2019-2024): Set to Exhibit a CAGR of 28.38% During the Forecast Period -...