The rapid growth of the AI in agriculture market can be attributed to various factors including the growing demand for agricultural production. Machine learning-enabled solutions are being significantly adopted by agricultural organizations and farmers to enhance farm productivity and to gain a competitive edge in business operations. Moreover, in the coming years, the application of machine learning and computer vision in various agricultural practices is expected to rise exponentially.
Machine learning AI technology expected to hold the largest market share during the forecast period:
Among various technologies, machine learning technology is estimated to lead the AI in agriculture market during the forecast period. The increasing adoption of machine learning technology by farmers across the world is the major factor fueling the demand for this technology in the agriculture industry. Machine learning allows farmers and agribusinesses to make better decisions based on findings in real time.
Precision farming application accounted for the largest share of the AI in agriculture market in 2016:
The major factors driving the growth of the AI in agriculture market for precision farming application include the increasing focus on farm productivity due to rising population and need for improving food quality. Precision farming technologies help in making traditional agricultural activities more efficient and predictable. The increasing adoption of agriculture robots in farming applications for increasing productivity and crop health monitoring are the major factors contributing to the demand for AI in precision farming applications.
The Americas expected to hold the largest market size during the forecast period:
The Americas is a major market for AI in agriculture. The increasing demand for advanced agricultural solutions is expected to drive the growth of the AI in agriculture market in this region. The Americas are expected to continue to hold the largest share of the AI in agriculture market in the coming years because large-scale agriculture players in the region are already using the AI technology to dramatically improve the speed and accuracy of their planting and crop management techniques.