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How Has the AI In Precision Farming Market Grown from 2024 to 2025?

In recent times, there has been a significant expansion in the market size of AI in precision farming. Its growth is projected to escalate from $0.78 billion in 2024 to $0.94 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 20.3%. The remarkable growth during the historical period is credited to the development of AI algorithms, rising demand for food production, cost cutting measures, commitment to environmental sustainability, as well as support and subsidies from the government.

What Growth Rate Is Anticipated for the AI In Precision Farming Market in the Coming Years?

In the coming years, the AI in precision farming market size is anticipated to experience a swift surge, reaching $1.95 billion by 2029 with a compound annual growth rate (CAGR) of 20.0%. This significant expansion forecasted for this period can be linked to the increasing use of IoT devices, growing concerns about the environment, escalating demand for sustainable agriculture practices, a movement towards advanced farming systems, and the need for quality and traceability. Upcoming trends for this period include the utilization of robotics, crop monitoring tools, the application of AI in optimizing supply chains, the rise of precision irrigation systems driven by technology, and the development of decision support systems.

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Who Are the Leading Companies in the AI In Precision Farming Market?

Major companies operating in the AI in precision farming market report are Microsoft Corporation; Robert Bosch GmbH; Intel Corporation; International Business Machines Corporation; Bayer AG; Deere & Company; SAP SE; Yara International ASA; DTN LLC; FarmWise Labs Inc.; Taranis Visual Ltd.; Blue River Technology Inc.; Agworld Inc.; Ceres Imaging Inc.; PrecisionHawk Inc.; FarmLogs Inc.; Prospera Technologies Ltd.; Arable Labs Inc.; Agribotix LLC; Resson Aerospace Corporation

What Are the Key Drivers of the AI In Precision Farming Market?

The scarcity of farmable land is anticipated to fuel the expansion of the AI in precision farming industry. Farmable land, particularly for crop cultivation, is scarce due to various factors such as urban growth, soil deterioration, and pressures from climate change. The issue of scarce farmable land is addressed by AI in precision farming by maximizing resource use and improving crop yield through informed decisions and specific measures. For instance, as stated by the United States Department of Agriculture, a US federal agency, in August 2022, the average cost of farm real estate in the United States reached $3,800 per acre for 2022, indicating a rise of $420 per acre or an increase of 12.4% from 2021. Moreover, the average cost of cropland stood at $5,050 per acre, showing an increase of $630 per acre or 14.3% from the previous year. Hence, the scarcity of farmable land is accelerating the growth of the AI in precision farming industry.

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What Are the Key Market Segments in the AI In Precision Farming Industry?

The AI in precision farming market covered in this report is segmented –

1) By Type: Machine Learning, Computer Vision, Other Types

2) By Offering: Hardware, Software, AI-as-a-Service, Service

3) By Application: Experimental Study, Farm Management, Private Planting, Other Applications

Subsegments:

1) By Machine Learning: Predictive Analytics For Crop Yields, Soil Quality Monitoring, Pest And Disease Detection, Crop Growth Prediction

2) By Computer Vision: Crop And Weed Identification, Field Monitoring Through Drones, Crop Damage Detection, Automated Harvesting Systems

3) By Other Types: Robotics In Farming, Natural Language Processing (NLP) For Farm Data Analysis, AI-Powered Irrigation Systems

What Are the Latest Trends in the AI In Precision Farming Market?

Leading businesses in the AI precision farming market are forming strategic alliances in order to gain a competitive advantage. By marrying the resources and strengths of various organizations, these partnerships are essential in enhancing AI in precision farming, facilitating innovative solutions, scaling adoption, and tackling major agricultural challenges. One example of this took place in March 2022 when Sway AI, a developer of no-code artificial intelligence applications in the US, joined forces with Trilogy Networks, a US-based agri-tech firm. This partnership aimed to bring AI technology into precision farming and led to Sway AI joining the Rural Cloud Initiative (RCI), a group that promotes and fast-tracks digital transformation in rural America. With this joint venture, an inclusive AI-facilitated precision farming option will be made available for farmers. In response to the data fragmentation issue becoming more prevalent in the industry, Sway AI and Trilogy Networks teamed up to unify information and enable better decision making throughout the entire production chain.

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What Are the Key Regional Markets in the AI In Precision Farming Industry?

North America was the largest region in the AI in precision farming market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in precision farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This Report Delivers Insight On:

1. How big is the ai in precision farming market, and how is it changing globally?

2. Who are the major companies in the ai in precision farming market, and how are they performing?

3. What are the key opportunities and risks in the ai in precision farming market right now?

4. Which products or customer segments are growing the most in the ai in precision farming market?

5. What factors are helping or slowing down the growth of the ai in precision farming market?

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