Artificial Intelligence in Agriculture Market – Global Opportunities and Forecast, 2020-2027
Artificial Intelligence in Agriculture Market
The global artificial intelligence in agriculture market is projected to expand at an annual rate of 25.5% between 2020 and 2026. The market growth is fuelled by growing application of data production through sensors and intensified government support to encourage the adoption of latest agricultural technologies.
Artificial Intelligence in Agriculture Market Dynamics
The major factors propelling the market growth include the accelerating penetration of internet of things (IoT) in the agricultural sector and increasing deployment of drones for pesticide spraying. The intensified emphasis on better crop management and growing demand for high crop productivity will supplement the market growth. AI helps to improve the yield quality and decrease the labour cost. Implementing AI-entitled approaches helps to identify diseases or climatic changes more rapidly and respond smartly. As per the artificial intelligence in agriculture market report, businesses in agriculture are increasingly deploying AI-enabled methodology to enhance the effectiveness of agricultural production. These applications help in controlling pests, improving the crop quality, enhancing agriculture-related tasks in the overall supply chain, and monitoring soil.
The surging demand for agricultural output guided by the accelerant population and increasing implementation of information management systems are other factors steering the market growth. In addition, the augmenting acquisition of AI technologies such as deep learning, computer vision, and predictive analytics, to assess the temperature, weather, and soil moisture has bolstered the market growth. However, the high cost associated with the collection of precise field data is projected to restrain the global AI in Agriculture Market size.
Application Segment Drivers
The precision farming segment is projected to expand at the fastest rate over the forecast period. The increasing emphasis on raising farm productivity guided by the accelerating population rate and more priority on food quality will steer the AI in Agriculture Market share. Moreover, precision farming allows farmers to perform agricultural tasks more effectively. Agriculture robots functioned by an AI system includes field sensors and data analytics to be implemented for a range of applications.
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