The global artificial intelligence in agriculture market size is expected to reach US$2.9 billion by 2025, according to a new report by Grand View Research (www.grandviewresearch.com).
The market is anticipated to register a compound annual growth rate [CAGR] of 25.4% from 2019 to 2025, notes the research group. Artificial intelligence solutions in the agricultural industry are emerging in various forms, such as soil and crop monitoring, agricultural robots, and predictive analytics.
Grand View Research says farmers and agribusiness corporations are increasingly using soil sampling and artificial intelligence -enabled sensors for data gathering for better analysis and processing. The availability of these processed data has paved the way for the deployment of artificial intelligence in agriculture and farming.
Rapidly increasing global population is one of the key factors driving the need for artificial intelligence in agriculture, says Grand View Research. The global population is expected to reach 9.8 billion by 2050, according to the UN. Subsequently, food production must increase significantly as well. Artificial intelligence enables efficient and potential farming techniques for increased crop productivity and yield.
For instance, the artificial intelligence Sowing App developed by Microsoft sends sowing advisories on the optimal date for crop sowing to farmers. It enhances the farmers’ efficiency in terms of planting and forecasting weather conditions.