AI Smart Farming Market Trends and Forecast
The future of the global AI smart farming market looks promising with opportunities in the farm and company markets. The global AI smart farming market is expected to grow with a CAGR of 18.4% from 2024 to 2030. The major drivers for this market are rising demand for food security and sustainable agriculture, technological advancements in IoT and big data analytics, and government initiatives and supportive policies.
• Lucintel forecasts that software is expected to witness higher growth over the forecast period.
• Within this market, farm is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Smart Farming Market
• United States: IBM announced its AI-driven Watson Decision Platform for Agriculture, aiming to optimize farm management. John Deere targets a 10% reduction in resource use through precision farming technologies. The USDA funds AI research projects to enhance agricultural productivity.
• Germany: BASF introduced xarvio™ Digital Farming Solutions, focusing on AI-based crop optimization. Bayer targets a 30% increase in crop yields using AI tools by 2025. The German government supports smart farming innovations through substantial grants and research initiatives.
• India: Tata Consultancy Services (TCS) launched an AI-powered agricultural solution to assist small farmers. Mahindra aims to expand its AI-based farming solutions to 5 million farmers by 2025. The Indian government promotes AI in agriculture through the National e-Governance Plan in Agriculture (NeGPA).
• Australia: AgriDigital employs AI to streamline grain supply chains. The startup The Yield uses AI to improve crop forecasting and water management. The Australian government invests in AI research to enhance farming efficiency and sustainability, aiming to support digital agriculture transformations.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Smart Farming Market by Segment
The study includes a forecast for the global AI smart farming market by type, application, and region.
AI Smart Farming Market by Type [Value from 2018 to 2030]:
• Software
• Hardware
AI Smart Farming Market by Application [Value from 2018 to 2030]:
• Farm
• Company
AI Smart Farming Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Smart Farming Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI smart farming companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI smart farming companies profiled in this report include-
• Ro-main
• Convisosmart
• Huawei
• Jiangsu Xigu Network Technology
• Shenzhen Aoyuexin Technology
• Alibaba
• Shenzhen Vp Information Technology
Recent Development in the AI Smart Farming Market
• John Deere: John Deere has made significant strides with its See & Spray technology. This advanced AI-powered system enables precision agriculture by identifying and targeting specific plants, reducing the use of herbicides and improving crop yields. This technology exemplifies John DeereÄX%$%Xs commitment to integrating AI for sustainable farming practices.
• IBM: IBM is partnering with various agricultural firms to deploy its Watson Decision Platform for Agriculture. This platform uses AI and data analytics to provide farmers with insights into weather patterns, soil health, and crop disease predictions, thereby optimizing farming decisions and improving productivity.
• Bayer AG: Bayer has invested heavily in its digital farming division, Climate FieldView. This platform leverages AI to collect and analyze field data, providing farmers with actionable insights to enhance crop management, monitor field variability, and maximize yield potential, reflecting BayerÄX%$%Xs focus on data-driven agriculture.
• Trimble Inc.: Trimble has introduced the Trimble Agriculture Enterprise Solutions, which integrates AI and machine learning for better farm management. This system offers advanced analytics for crop health monitoring, irrigation management, and precision planting, aiming to boost farm efficiency and productivity.
• AGCO Corporation: AGCO has launched the Fuse® smart farming platform, incorporating AI and IoT technologies. This platform provides real-time data analytics and decision support to farmers, enabling better resource management, reduced operational costs, and improved crop performance. AGCO’s initiative highlights its dedication to enhancing farming efficiency through technology.
Features of the Global AI Smart Farming Market
Market Size Estimates: AI smart farming market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI smart farming market size by type, application, and region in terms of value ($B).
Regional Analysis: AI smart farming market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI smart farming market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI smart farming market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI smart farming market?
Answer: The global AI smart farming market is expected to grow with a CAGR of 18.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI smart farming market?
Answer: The major drivers for this market are rising demand for food security and sustainable agriculture, technological advancements in IoT and big data analytics, and government initiatives and supportive policies.
Q3. What are the major segments for AI smart farming market?
Answer: The future of the global AI smart farming market looks promising with opportunities in the farm and company markets.
Q4. Who are the key AI smart farming market companies?
Answer: Some of the key AI smart farming companies are as follows:
• Ro-main
• Convisosmart
• Huawei
• Jiangsu Xigu Network Technology
• Shenzhen Aoyuexin Technology
• Alibaba
• Shenzhen Vp Information Technology
Q5. Which AI smart farming market segment will be the largest in future?
Answer: Lucintel forecasts that software is expected to witness higher growth over the forecast period.
Q6. In AI smart farming market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI smart farming market by type (software and hardware), application (farm and company), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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