What Has Been the Progress and Growth of the AI In Precision Farming Market in Recent Years?
The ai in precision farming market has seen considerable growth due to a variety of factors.
• In recent times, we have witnessed a dramatic surge in the market size of AI in precision farming. The sector is predicted to expand from a worth of $0.78 billion in 2024 to a value of $0.94 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 20.3%.
The upturn during the historical period is driven by factors such as advanced AI algorithm development, heightened demand for food products, cutting-down of costs, prioritizing environmental conservation, and governmental aids and subsidies.
What Can Be Expected from the AI In Precision Farming Market Size In The Coming Years?
The ai in precision farming market is expected to maintain its strong growth trajectory in upcoming years.
• The precision agriculture market that incorporates AI technology is poised for accelerated expansion in the coming years, predicted to reach a valuation of $1.95 billion in 2029, based on a compound annual growth rate (CAGR) of 20.0%.
The anticipated growth within this period can be related to the increased usage of IoT devices, heightened environmental awareness, rising demand for sustainable farming practises, a transition towards advanced farming systems, and the necessity for quality and traceability in produce. Dominant trends projected for this forecast period include the incorporation of robotics, crop monitoring tools, implementation of AI in enhancing supply chain efficiencies, advanced precision irrigation systems powered by technology, and the evolution of decision support systems.
What Are The Key Drivers Fueling Growth In The AI In Precision Farming Market?
The scarcity of fertile land suitable for crop cultivation, commonly known as arable land, is predicted to boost the expansion of the AI in precision farming market. The shortage of this land is due to factors such as urbanization, soil degradation, and the impacts of climate change. Precision farming using AI confronts these challenges by maximizing resource usage and improving crop productivity through data analysis and precise interventions. For example, as per the United States Department of Agriculture, a federal agency in the US, the average value of agricultural real estate escalated to $3,800 per acre in August 2022. This indicates a $420 increase per acre or a 12.4 percent hike compared to 2021. Moreover, the average value of cropland was recorded to be $5,050 per acre, showing a $630 surge per acre or an increase of 14.3 percent from the previous year. Hence, the shortage of arable land is facilitating the growth of the AI in precision farming market.
How Is The AI In Precision Farming Market segmented?
The AI in precision farming market covered in this report is segmented –
1) By Type: Machine Learning, Computer Vision, Other Types
2) By Offering: Hardware, Software, AI-as-a-Service, Service
3) By Application: Experimental Study, Farm Management, Private Planting, Other Applications
Subsegments:
1) By Machine Learning: Predictive Analytics For Crop Yields, Soil Quality Monitoring, Pest And Disease Detection, Crop Growth Prediction
2) By Computer Vision: Crop And Weed Identification, Field Monitoring Through Drones, Crop Damage Detection, Automated Harvesting Systems
3) By Other Types: Robotics In Farming, Natural Language Processing (NLP) For Farm Data Analysis, AI-Powered Irrigation Systems
Pre-Book The AI In Precision Farming Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing The AI In Precision Farming Market?
Top firms in the AI precision farming sector are putting emphasis on creating strategic alliances to boost their market competitiveness. These alliances have a significant role in propelling AI in precision agriculture, utilizing the combined capabilities and resources of numerous organizations to design innovative solutions, enhance adoption, and tackle agriculture's core issues. As an example, in March 2022, Sway AI, an American company specializing in creating no-code AI applications, entered a partnership with Trilogy Networks, an American agri-tech firm, to facilitate the use of AI technology in precision farming. With this collaboration, Sway AI became a part of the Rural Cloud Initiative (RCI), an institution focused on the innovation of network and edge dedicated to the digital advancement of rural America. This alliance will lead to a comprehensive, AI-integrated precision agriculture solution for farmers. In response to the growing industrial challenge of data fragmentation, Sway AI, and Trilogy Networks teamed up to combine data and augment decision-making throughout the agriculture production process.
Who Are the Key Players In The AI In Precision Farming Market?
Major companies operating in the AI in precision farming market report are:
• Microsoft Corporation
• Robert Bosch GmbH
• Intel Corporation
• International Business Machines Corporation
• Bayer AG
• Deere & Company
• SAP SE
• Yara International ASA
• DTN LLC
• FarmWise Labs Inc.
• Taranis Visual Ltd.
• Blue River Technology Inc.
• Agworld Inc.
• Ceres Imaging Inc.
• PrecisionHawk Inc.
• FarmLogs Inc.
• Prospera Technologies Ltd.
• Arable Labs Inc.
• Agribotix LLC
• Resson Aerospace Corporation
What Is The Most Dominant Region In The AI In Precision Farming Market?
North America was the largest region in the AI in precision farming market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in precision farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
