Global AI in Agriculture Market Size Exploding 4.1X to Touch Whopping Value of USD 8.34 Billion by 2030

Published | 15 July 2024

Global AI in Agriculture Market is booming primarily due to a heightened focus on strengthening food security by enhancing food production, governments’ increasingly supportive initiatives and funding, and rapid adoption of technological advancements in agriculture.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global AI in Agriculture Market size by value at USD 2.03 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global AI in Agriculture Market size to expand at a CAGR of 11.67% reaching a value of USD 8.34 billion by 2030. The AI in Global Agriculture Market is propelled by its increasing role in addressing pressing challenges like climate change and the rising demand driven by population growth. With the global population projected to reach 9.8 billion by 2050 and with the limited arable land, AI integration becomes essential for scaling food production. AI, supported by IoT and big data, is transforming agriculture through enhanced crop monitoring, precision farming, predictive analytics, and yield optimization. Innovations like AI-powered drones, robots, and wireless sensors are deployed for tasks, such as predictive analysis, pest detection, and soil monitoring. Collaborations such as Microsoft's AI Sowing App and initiatives by companies like Nature Fresh Farms exemplify AI's transformative impact, improving efficiency and predicting harvest yields. The widespread adoption not only enhances operational efficiency but also drives demand for IoT devices, solidifying AI's role in sustainable agriculture in the coming years.

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Opportunity - Development of innovative AI applications for vertical farming, aquaculture, and livestock management

As the world population continues to grow and food demand escalates, the need for efficient farming methods becomes increasingly critical to maximize production on limited land. Artificial Intelligence (AI) is at the forefront of this agricultural revolution, transforming traditional practices across vertical farming, aquaculture, and livestock management. AI-driven applications are tailored to each sector's unique challenges, from monitoring crop health and automating feeding systems in vertical farms, to overseeing water quality and fish health in aquaculture, and implementing precision feeding and health monitoring in livestock management. These advancements not only enhance operational efficiency but also promote sustainable farming practices, crucial for meeting future food demands while minimizing environmental impact. Optima Planta, founded in 2017 by Lennart Sör, exemplifies this trend with their AI and bio-informatics-driven approach to vertical farming. Based in Uppsala, their research and development facility pioneers AI technologies to achieve substantial efficiency gains in Controlled Environment Agriculture (CEA), projecting up to 100% improvement. Optima Planta's ADA (Agriculture Data Assistant) system optimizes environmental conditions with sensors for pH, humidity, and temperature, enhancing yields by 25%–50% under controlled parameters. Collaborations with Swedish universities drive ongoing innovation, underscoring AI's transformative potential in modern farming practices as Optima Planta seeks partnerships and investment to scale their technology.

North America at Forefront in Adopting AI for Agriculture

North America, the home to technologically advanced United States and Canada, is the leading region in Global AI in Agriculture Market. During the forecast period, the region is also going to sustain its leadership position due to increasing investments in automation, adoption of IoT, and governments’ increasing supportive measures for domestic AI development. Agricultural technology firms are actively exploring AI solutions, deploying drones, robots, and intelligent monitoring systems.

Impact of Escalating Geopolitical Tensions on Global AI in Agriculture Market

Intensifying geopolitical tensions can have a multifaceted impact on Global AI in Agriculture Market. Conflicts between countries disrupt supply chains, impede international collaborations, and heighten regulatory uncertainties, leading to market volatility. Nations experiencing instability may prioritize domestic food security over technological imports, thereby altering market dynamics and growth trajectories. Moreover, increased global uncertainty may erode investor confidence, thereby restricting funding for AI innovations in agriculture. As geopolitical tensions continue, strategic partnerships and regulatory frameworks assume critical roles in navigating the evolving landscape of AI adoption in agriculture worldwide.

Competitive Landscape

Global AI in Agriculture Market is highly fragmented, with numerous players serving the market. The key players dominating Global AI in Agriculture Market include Microsoft Corporation, IBM Corporation, Granular Inc, Prospera Technologies Ltd, Gamaya SA, ec2ce, PrecisionHawk Inc, Cainthus Corp, Tule Technologies Inc, Deere & Company, and AgEagle Aerial Systems Inc. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of Global AI in Agriculture Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Global AI in Agriculture Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global AI in Agriculture Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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