BIS Research Study Highlights the Global Artificial Intelligence in Agriculture Market to Reach $6.65 billion by 2026


Posted April 1, 2022 by harshbisR-0

The global artificial intelligence in agriculture market is projected to reach $6.65 billion by 2026, reveals the premium market intelligence study by BIS Research.
 
The global artificial intelligence in agriculture market is projected to reach $6.65 billion by 2026, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 30.56% during the period 2021-2026.

Artificial intelligence technology brings the concept of cognitive computing to agriculture, where the farm equipment intelligence is modeled on human intelligence. Artificial intelligence technologies help farmers in optimizing their planning to generate profitable crop yields using predictable analytics for agricultural input choices and farm process planning.

The capabilities enabled by this technology allow the farm equipment and solutions to interpret, acquire, and react to unpredictable farm situations with enhanced efficiency.

The detailed study is a compilation of 73 Market Data Tables and 34 Figures spread through 180 Pages and in-depth TOC on Global Artificial Intelligence in Agriculture Market – Analysis and Forecast, 2020-2026

USP of the Report:

This extensive report can help with:
• The report covers product, application, and regional market estimations for the electric farm tractor market.
• Extensive competitive benchmarking of the top 15 players (including OEMs and equipment providers) has been done to offer a holistic view of the global artificial intelligence in agriculture market landscape.

Analyst’s Take on the Market:

According to Rakhi Tanwar, Principal Analyst, BIS Research, “The artificial intelligence in agriculture market is expected to be a great solution for a wide range of issues in the agricultural industry. Through a better adoption of the technology, agricultural productivity and efficiency can be maximized, and chances of crop failure will be reduced.”


Key Companies Operating in The Market:

Some of the key players operating in the market include Agrivi, Alibaba Group Holding Limited, Ceres Imaging, CNH Industrial N.V., Granular Inc., Harvest Crop Robotics, LLC, IBM Corporation, Microsoft Corporation, Prospera Technologies, Robert Bosch GmbH, The Climate Corporation., among others.

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (holding 50-60% of the market), mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the artificial intelligence in agriculture industry.


Market Segmentation of Global Artificial Intelligence in Agriculture Market

Farming: The farming type segment in the application for artificial intelligence in agriculture market is expected to be dominated by field farming. The majority of the farmers around the world still engage in traditional farming, which is expected to drive artificial intelligence in agriculture market in the forecast period.

End-use: The end use segment in the application of artificial intelligence in agriculture market is expected to be dominated by crops, fruits, vegetables, and other plants.

Product: The global artificial intelligence in agriculture market in the product segment is expected to be dominated by software products. The high market share and growth potential associated with software products in the agriculture industry is expected to drive the global artificial intelligence in agriculture market.

Region: North America generated the highest revenue of $598.7million in 2020, which is attributed to the technological advancements in the North America region. In the region, government support along with technological advancement has helped in the growth of the market.

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Key Questions Answered in the Report:

• What is the estimated global artificial intelligence in agriculture market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to artificial intelligence in agriculture?
• What are the major restraints inhibiting the growth of global artificial intelligence in agriculture market?
• What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
• What is the competitive strength of the key players in the artificial intelligence in agriculture market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key artificial intelligence in agriculture companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
• The segments are as follows:
• Product, including software, hardware, artificial intelligence-as-a-service, and support services.
• Application, including by farming type (field farming, indoor farming, livestock farming, and others) and by end-use (crops, fruits, vegetables, and other plants, and livestock and aquaculture).
• Region, including North America, the U.K., Europe, Asia-Pacific and Japan, China, the Middle East and Africa, and South America
• What is the type of players and stakeholders operating in the market ecosystem of artificial intelligence in agriculture, and what is their significance in the global market?

BIS Research Related Market Studies:

• Powered Agriculture Equipment Market- https://bisresearch.com/industry-report/global-powered-agriculture-equipment-market.html
• Precision Agriculture Market- https://bisresearch.com/industry-report/precision-agriculture-market.html
• Agriculture Technology-As-a-Service Market- https://bisresearch.com/industry-report/global-agriculture-technology-service-market.html



About BIS Research:

BIS Research, a premium market intelligence company, offers in-depth insights and consulting to Fortune 500 companies. We are established and known for tracking the growth of deep technologies across key industry verticals and the subsequent challenges and opportunities associated with deep tech across markets, applications, and products.

With more than 1,000 clients, over 10,000 plus primary interviews, and approximately 200 reports published in a year, BIS Research has often been sighted for its ability to track emerging tech trends early on. We provide market estimations, analysis on emerging high-growth applications, technology analysis, highly segmented granular country-level market data, and other important market parameters that come in handy for our clients during strategic decision-making.

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Contact Email [email protected]
Issued By Harsh Singla
Country India
Categories Agriculture , Research , Technology
Last Updated April 1, 2022