AI Set to Take Agriculture Market by Storm

By StartUp City | Friday, September 07, 2018

A recent research report forms the base for understanding the agriculture market, while indicating the opportunities and the strategies required in the decision-making. This study was conducted using a combination of primary and secondary information, and provides a comprehensive view of the market and vendors, together with a SWOT analysis of key vendors. It comprises historical data from 2013 to 2017, and forecasts until 2021, thus making it an invaluable resource for people looking for readily accessible data on the agricultural sector. It begins with the current state of the AI industry and helps manufacturers and investment organizations to understand the course of development for the AI market.

The report identifies that the competitive environment requires constantly updated marketing information to monitor performance and take critical decisions to ensure profitability. It attempts to keep up with the changing structure of the AI market by providing information on developmental trends focused on the market’s capacities and technologies. The report simplifies the process of calculating market size by providing a detailed picture of the market through study, synthesis and summation of data collected from various sources. It covers the global AI retail market’s current scenario and growth prospects until 2021, from the perspective of manufacturers, product types, regions and end industry, and discusses the key vendors in the market.

The report provides detailed information regarding the various players in the field of AI in the agricultural sector. It also provides a detailed analysis of the products, submarkets, and revenue forecasts for the market leaders in this sector. The report is divided based on geographical region, with insights into the expected production, revenue, consumption and growth rate of AI in each, across the Americas, Europe, the Middle East and Africa, and the Asia-Pacific region.

The high initial investment in robotics is a major challenge to the agricultural sector. This field evolves by incorporating advanced technologies, software, and sensors, which entail a high procurement cost and add to the overall cost of manufacturing robots for the agricultural sector. The trend of face recognition for farm animals is emphasized in the report. While face recognition systems are a part of robotic milking units, the advancements in AI are expected to bring in visual individual recognition that monitors behavioral aspects within the herd.

AI can be adapted to carry out tasks in real-time situations by using cognitive processing like the human mind without requiring constant supervision. The uses of AI technology in the agricultural sector has been divided into robotics, animal husbandry, and crop and soil management, in which it finds various applications. This industry is expected to grow at a compound annual growth rate of 22.68 percent from 2017 to 2021.