A compound annual growth rate (CAGR) of 24.2% is anticipated throughout the forecast period, with the global AI in agricultural market estimated at USD 2.1 billion in 2023. The industry is expanding significantly due to rising demand for precision farming and higher crop yields. The two main drivers of the market are the growing emphasis on improved crop management and the growing usage of drones for pesticide spraying.
Concerns over food security are also growing, and effective farming methods are required due to the scarcity of arable land. A decrease in the availability of agricultural labor is filled by automation. AI and IoT sensors are used to monitor crops and soil effectively. Effective data analytics is carried out to improve resource usage. The market for artificial intelligence is being driven by the growing need for drones with AI capabilities for improved crop health assessment. Food traceability is improved and waste is decreased with the usage of AI-driven systems.

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Growth Drivers
The primary driver of AI's introduction and contribution to agriculture is the growing need for more efficient ways to increase crop productivity. Another important factor driving the market expansion is the growing emphasis on increasing sustainability and productivity. The market for artificial intelligence in agriculture is expanding as a result of the growing use of sophisticated farming technology like computer vision and machine learning. The industry is expanding rapidly because to an increase in agricultural activity and farmers' growing demand for real-time data.
However, one of the main causes of the market's sluggish growth rate is the high price of AI-enabled goods and services. AI makes sure that resources like water and fertilizer are used as efficiently as possible, which lowers waste and boosts yields. Real-time actionable insights from sensor data are provided by AI-powered IoT devices. AI efficiently meets the growing demand for precise weather pattern prediction, which is indirectly related to agriculture.
Segmentation
By Technology
· Machine Learning
· Predictive Analysis
· Computer Vision
By Offering
· Hardware
· Software
· AI-as-a-Service
· Service
By Application
· Precision Farming
· Agriculture Robots
· Livestock Monitoring
· Drone Analytics
· Labor Management
· Others
Regional Outlook
· Asia Pacific
· North America
· Latin America
· Europe
· Middle East and Africa
Key Players
· John Deere and Company
· Microsoft
· IBM
· Farmers Edge Inc.
· AgEagle Aerial Systems Inc.
· Descartes Labs, Inc.
· The Climate Corporation
· Other Players

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