Agricoltura
Rising Need for Livestock Monitoring is Boosting Demand for AI Solutions in Agriculture: P&S Intelligence
Due to the COVID-19 pandemic, the AI in agriculture market growth has slowed, on account of the reducing demand for produce. This is, in turn, is expected to lower the rate of technology adoption by the agrarian community, in order to check the expenditure. Moreover, the supply of agricultural goods to customers has been hit by the prevailing lockdown situation, thereby leading to a lower income for farmers. Similarly, the agrarian community hasn't been able to procure the physical systems part of AI in agricultural solutions.
In the coming years, the highest CAGR in the AI in agriculture market, of 26.9%, under the application segment, is projected to be witnessed in the drone analytics classification. The demand for better-quality food crops is rising, which is resulting in a rising funding for the adoption of drones in agricultural fields. The growing agricultural sector of Latin America (LATAM) and Asia-Pacific (APAC) is predicted to propel the demand for AI-driven drone analytics solutions for agriculture.
Presently, North America generates the highest revenue for the AI in agriculture market, due to the early integration of new technologies, such as computer vision and ML, for livestock management, precision farming, soil management, greenhouse management, and other agricultural purposes in the region. Additionally, the agrarian community is combining the computer vision technology with the internet of things (IoT), thereby driving the regional industry.
In the years to come, the fastest growth in the AI in agriculture market will be observed in APAC, owing to the rising adoption of agricultural robots and drone analytics and precision farming technologies, primarily in China , India , Thailand , and Indonesia . In addition, the increasing awareness of these advanced technologies and government support for their adoption would further increase the uptake of artificial intelligence solutions in the regional agricultural sector.
Mergers and Acquisitions Driving Competition in Industry
In an effort to edge out their competitors, companies in the AI in agriculture market are engaging in mergers and acquisitions, with the intention to:
The major players in the global AI in agriculture market are Microsoft Corporation, IBM Corporation, Deere & Company, Bayer AG, AgEagle Aerial Systems Inc., A.A.A Taranis Visual Ltd., Raven Industries Inc., AGCO Corporation, Trimble Inc., Ag Leader Technology, Granular Inc., Google LLC, and Gamaya SA.
P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg