Growing stress on the food supply chain due to exponentially increasing population etc are some of the leading factors
The Global Artificial Intelligence in Agriculture Market is estimated to grow from $893.43 million in 2019 to $8342.37 million in 2030 with a CAGR of 22.52 per cent. Factors such as growing stress on the food supply chain due to exponentially increasing population, rising implementation of the Internet of Things in the agricultural sector, improving the standard of living, growing focus on enhanced crop monitoring, and increased demand for higher agricultural yield, are driving growth in the artificial intelligence market.
Moreover, limited land for agriculture coupled with supportive government policies to encourage the use of AI technologies is anticipated to fuel the market growth. Nonetheless, insufficient knowledge of high technology machine learning solutions in agriculture can hamper the growth of artificial intelligence in the agriculture market. However, the increased use of drones in farms is expected to accelerate the deployment of artificial intelligence in the agriculture market.
“Growing global demand for food, farmers need to increase crop production either by increasing the amount of agricultural land or by adopting advanced agricultural methods such as precision farming”, said a lead analyst at Fatpos Global.
