India AI in Agriculture Market Size Booming at CAGR of almost 10% to Touch USD 2 Billion by 2030

Published | 18 June 2024

India AI in Agriculture Market is flourishing due to an increasing integration of modern technologies like IoT, machine learning (ML), drones, and cloud computing, and the government’s initiatives to promote the adoption of AI in agriculture for sustainable and precision farming.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India AI in Agriculture Market size by value at USD 466.95 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India AI in Agriculture Market size to expand at a CAGR of 9.88% reaching a value of USD 1,918.29 million by 2030. The AI in Agriculture Market in India is propelled by the increasing integration of artificial intelligence (AI) into agriculture. AI enhances farming practices by employing cognitive technology to facilitate learning, reasoning, and interaction within the agricultural sector. This technology revolutionizes traditional farming methods, with farmers increasingly adopting advanced techniques, such as drones, automated systems, and robots. The focus has shifted towards optimizing crop yields without compromising quality, leading to increased investment in automated farming systems to meet growing demand.

Opportunity – Growing Demand for Smart Farming Practices

India is witnessing a surge in the adoption of smart farming practices to address the challenges of shrinking agricultural land and a rapidly growing population. With the global population expected to reach 9.1 billion by 2050, and India being the most populous country with more than 1.4 billion people accounting for a significant portion of this growth, the pressure on food security is immense. Smart farming, or precision agriculture, leverages technologies like IoT, AI, and data analytics to optimize agricultural efficiency, productivity, and sustainability. By employing IoT sensors for real-time data on soil and crop conditions, and using AI to provide actionable insights, farmers can make informed decisions on irrigation, fertilization, and pest control. The technology-driven approach not only boosts crop yields and reduces resource wastage but also enhances farm income and environmental sustainability. As these practices become more accessible, the demand for smart farming continues to grow, promising a more secure and sustainable agricultural future for India.

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Impact of Escalating Geopolitical Tensions on India AI in Agriculture Market

Geopolitical tensions can have a multifaceted impact on the India AI in Agriculture Market. Uncertainties arising from geopolitical conflicts can disrupt supply chains, impede technological collaborations, and deter foreign investments critical for advancing AI solutions in agriculture. Moreover, heightened tensions may lead to trade restrictions or embargoes, limiting access to essential resources and hindering the adoption of advanced technologies. Such disruptions not only hamper market growth but also undermine efforts to modernize and enhance agricultural productivity. Therefore, maintaining geopolitical stability and fostering international cooperation are imperative to mitigate adverse effects and sustain the momentum of innovation in India's agricultural sector.

India AI in Agriculture Market

Segmental Coverage

India AI in Agriculture Market – By Application

Based on application, the India AI in Agriculture Market is divided into Precision Farming, Livestock Monitoring, Drone Analytics, Agriculture Robots, Labor Management, Crop Management, and Irrigation Management segments. The precision farming segment holds the highest share in the India AI in Agriculture Market by application. It is primarily due to its profound impact on agricultural efficiency and resource management. By employing advanced technologies such as GPS, remote sensing, and variable rate technology, precision farming optimizes inputs like water, fertilizers, and pesticides, tailored to the specific needs of crops and soil conditions. This targeted approach not only maximizes yields but also minimizes waste and environmental impact, making it a preferred choice for farmers. Moreover, government initiatives and technological innovations have further propelled the adoption of precision farming, particularly in high-value crops. Despite being at a nascent stage, precision farming's potential to revolutionize Indian agriculture is evident, driving its dominance in the AI in Agriculture Market. Meanwhile, the agriculture robots segment is expected to witness the fastest growth rate during the forecast period. The key driver if the segment’s growth is the innovation and efficiency in Indian agriculture. Agricultural robots, including micro-spraying robots, drones, automatic tractors and ploughs, and automated harvesting systems, are revolutionizing farming practices by enhancing productivity, sustainability, and labor efficiency. These advanced technologies enable precise crop monitoring, targeted pest control, optimized cultivation, and efficient harvesting, addressing key challenges faced by Indian farmers. Platforms like ‘agribazaar’ are further facilitating the adoption of agricultural robots by providing farmers with access to innovative solutions and fair market opportunities.

 India AI in Agriculture Market – By Region

Geographically, the India AI in Agriculture Market is divided into North India, South India, East India, and West India regions. The North India region holds the highest share in the India AI in Agriculture Market and is expected to maintain its dominance over the forecast period. Recognizing the potential of modern technologies to transform the sector, especially given their rich agricultural history and extensive farming practices, the region is embracing advanced methods and digital innovations. The government's goal is to enhance productivity, promote sustainability, and tackle the evolving challenges in agriculture. AI adoption extends beyond crop monitoring and yield prediction to encompass soil analysis, pest management, irrigation optimization, and livestock monitoring. By integrating AI into these areas, farmers can make informed decisions based on data, allocate resources more efficiently, and enhance overall agricultural performance.

Competitive Landscape

The India AI in Agriculture Market is fragmented, with numerous players serving the market. The key players dominating the India AI in Agriculture Market include Microsoft Corporation, IBM, Granular India Limited, John Deer India Private Limited, Fasal Farming Private Limited, Agrostar, Cropin, Intello Labs, Carbon Robotics, and Aibono. 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 the India 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 the India 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 the India 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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