The global artificial intelligence in agriculture market size is expected to reach USD 11.96 billion by 2032, according to a new study by Polaris Market Research. The report “Artificial Intelligence in Agriculture Market Share, Size, Trends, Industry Analysis Report, By Technology (Computer Vision, Machine Learning & Deep Learning, and Predictive Analytics); By Application; By Component; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Artificial intelligence methods in agriculture enhance productivity and crop yields. Consequently, agribusiness companies are embracing AI technologies, particularly those based on predictive analytics. AI applications and techniques contribute to pest control, the cultivation of healthier crops, soil monitoring, and the overall optimization of various tasks within the food supply chain. The agriculture sector is progressively incorporating artificial intelligence to enhance the quality and precision of harvests by leveraging farm data analysis.
Moreover, the integration of automation into agriculture plays a pivotal role in resource allocation, involving fertilizers and water distribution, identifying the ideal sowing dates, and weed detection, thus spurring the need for artificial intelligence solutions. This technology further assists in making seed-sowing recommendations by leveraging historical long-term weather records, production data, forecasts for commodity pricing, seed details, and various other inputs. The manifold advantages of AI-driven applications are inspiring numerous technology giants and startups to create IoT-enabled devices, facilitating the widespread implementation of AI applications in agriculture.
The adoption of artificial intelligence techniques is driven, in part, by the scarcity of skilled labor available for agricultural tasks. The diminishing interest of younger generations in the agricultural sector contributes to this labor shortage. Consequently, both private and public entities are making swift investments in AI-based automation systems to counter the labor scarcity challenge. Many countries with aging populations are inclined to embrace such technologies to mitigate the workforce shortage in agriculture. These challenges are anticipated to create numerous growth opportunities for the market.
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Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Artificial Intelligence in Agriculture devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Artificial Intelligence in Agricultures throughout the forecast period.
Artificial Intelligence in Agriculture Market Report Highlights
Polaris Market Research has segmented the Artificial Intelligence in Agriculture market report based on technology, application, component, and region:
Artificial Intelligence in Agriculture, Technology Outlook (Revenue - USD Billion, 2019 - 2032)
Artificial Intelligence in Agriculture, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Artificial Intelligence in Agriculture, Component Outlook (Revenue - USD Billion, 2019 - 2032)
Artificial Intelligence in Agriculture, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
Report Attributes |
Details |
Market size value in 2024 |
USD 2.18 billion |
Revenue forecast in 2032 |
USD 11.96 billion |
CAGR |
23.67% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
Segments Covered |
By Technology, By Application, By Component, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
For Specific Research Requirements |