Artificial Intelligence in Agriculture Market Future Developments and Growth 2024

The adoption of artificial intelligence (AI) and machine learning (ML) is growing at a significant rate. Cognitive computing in particular, is all set to become the most disruptive technology in agriculture services as it can understand, learn, and respond to different situations (based on learning) to increase efficiency.

Global Artificial Intelligence in Agriculture Market – Dynamics

Rising Adoption of IoT Devices

Strong growth is seen in the deployment as well as adoption of IoT devices across the globe. Proximity sensing and remote sensing are two technologies which are primarily used for intelligent data fusion in agriculture industry. IoT has propelled the agriculture industry by providing insights on historical weather patterns, soil reports, new research, rainfall, pest infestation, images from drones and cameras, and so on. These crucial insights are improving productivity and quality, thus driving the growth of agriculture.

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Unawareness and Poor System Infrastructure

Regions such as the Middle East, Asia, and South America face strong technological and digital gaps within the agriculture industry. The level of awareness among farmers is comparatively low in countries such as India, and other Asian countries. The network infrastructure to smoothly run artificial intelligence in agriculture at remote locations is not very effective. Unawareness about artificial intelligence in agriculture and poor network infrastructure is hampering the growth of the artificial intelligence in agriculture market.

North America to Dominate the Global Artificial Intelligence in Agriculture Market

In terms of region, the global artificial intelligence in agriculture market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the artificial intelligence in agriculture market during the forecast period due to its strong dominance in artificial intelligence across the globe.

COVID-19 Impact on the Global Artificial Intelligence in Agriculture Market

The COVID-19 pandemic is expected to moderately impact the global artificial intelligence in agriculture market for a short-term period. The level of investment with regards to AI in agriculture has been reduced due to the lockdown in almost every region, as it requires major capital investment. It is expected that COVID-9 will impact this market till 2024 year end.

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Global Artificial Intelligence in Agriculture Market – Competition Landscape

  • In March 2024, a strategic partnership was formed between Kagome Co., Ltd.  and NEC Corporation to launch agricultural management support services utilizing artificial intelligence (AI) for leading tomato processing companies.

IBM Corporation

Incorporated in 1911, IBM manufactures and sells computer hardware and software and offers infrastructure services, hosting services, and consulting services in areas ranging from mainframe computers to nanotechnology. The company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems, and Global Financing. IBM Corporation provides the Watson Decision Platform for agriculture.