Dublin, Dec. 21, 2017 (GLOBE NEWSWIRE) -- The "AI in Agriculture Market by Technology (Machine Learning, Computer Vision, Predictive Analytics), Offering, Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring), Offering, and Geography - Global Forecast to 2025" report has been added to Research and Markets' offering.

The AI in agriculture market is estimated to be worth USD 2,628.5 million by 2025 from USD 518.7 million in 2017, growing at a CAGR of 22.5% between 2017 and 2025.

Market Dynamics

Drivers

  • Growing Demand for Agricultural Production Owing to Increasing Population
  • Rising Adoption of Information Management System and New, Advanced Technologies for Increasing Crop Productivity
  • Increasing Crop Productivity By Implementing Deep Learning Techniques
  • Growing Initiatives By Worldwide Governments Supporting Adoption of Modern Agricultural Techniques

Restraints

  • High Cost of Gathering Precise Field Data

Opportunities

  • Developing Countries to Offer Significant Growth Opportunities
  • Increasing Use of Unmanned Aerial Vehicles (UAVs) Or Drones in Agricultural Farms

Challenges

  • Lack of Standards
  • Technological Unawareness in Farmers About AI
  • Limited Availability of Historical Data

The major factors driving the growth of the AI in agriculture market include the growing demand for agricultural production owing to the increasing population, rising adoption of information management systems and new, advanced technologies for improving crop productivity, increasing crop productivity by implementing deep learning techniques, and growing initiatives by worldwide governments supporting the adoption of modern agricultural techniques. The high cost of gathering precise field data is a major factor restraining the growth of the AI in agriculture market.

The market for computer vision is expected to grow at the highest CAGR during the forecast period. The increasing use of computer vision technology for agriculture applications, such as plant image recognition, and the rising demand for continuous monitoring and analyzing crop health are the major factors contributing to the growth of the market for AI solutions based on computer vision technology.

The market for drone analytics is expected to grow at the highest CAGR during the forecast period owing to its extensive use in diagnosing and mapping crop health and making real-time decisions. Further, favorable government mandates for using drones in agriculture field is expected to fuel the growth of the AI in agriculture market for the drone analytics application.

The increasing adoption of deep learning and computer vision technologies for agricultural applications is a major driving factor for the market growth in the APAC region. Further, the increasing awareness among growers regarding benefits associated with artificial intelligence technologies, such as computer vision, machine learning, and deep learning, for various farming applications is also a major factor contributing toward the growth of the AI in agriculture market in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Artificial Intelligence in Agriculture Market, By Technology

8 Artificial Intelligence in Agriculture Market, By Offering

9 Artificial Intelligence in Agriculture Market, By Application

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

  • Agribotix
  • Autonomous Tractor Corporation
  • Awhere
  • Cainthus
  • Connecterra
  • Cropx
  • Deere & Company
  • Descartes Labs
  • Ec2ce
  • Farmbot
  • Gamaya
  • Granular
  • Harvest Croo
  • IBM
  • Key Innovators
  • Mavrx
  • Microsoft
  • Precision Hawk
  • Prospera
  • Resson
  • Skysquirrel Technologies
  • Spensa Technologies
  • The Climate Corporation (Subsidiary of Monsanto)
  • Trace Genomics
  • Tule Technologies
  • Vine Rangers
  • Vision Robotics

For more information about this report visit https://www.researchandmarkets.com/research/pf6q45/global_2_62?w=12

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Related Topics: Agriculture, Artificial Intelligence