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24.5% CAGR of Artificial Intelligence (AI) in Agriculture Market to Cross to USD 10.2 billion in Revenues by 2032

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New York, April 06, 2023 (GLOBE NEWSWIRE) — The global Artificial Intelligence (Ai) In Agriculture market size is expected to be worth around USD 10.2 billion by 2032 from USD 1.2 billion in 2022, growing at a CAGR of 24.5% during the forecast period from 2022 to 2032. Artificial intelligence techniques in agriculture can boost yield and productivity. Agribusiness companies employ artificial intelligence technologies that use predictive analytics. These AI-based applications and techniques can be utilized for controlling pests, increasing yields, monitoring soil conditions, and streamlining agricultural-related tasks throughout the food supply chain. As it analyzes farm data, artificial intelligence is increasingly being employed in agriculture to enhance harvest quality and accuracy.

In the agricultural industry, artificial intelligence solutions like drones, robots, and ground-based wireless sensors are becoming more widely utilized. In November 2017, Microsoft joined forces with the International Crop Research Institute of the Semi-Arid Tropics to launch an AI Sowing App. NatureFresh Farms is another U.S. tech company using artificial intelligence technology to analyze plant data at scale and produce accurate yield and harvest forecasts; their algorithm even predicts when blossoms will ripen.

Artificial Intelligence (AI) in Agriculture Market Graph

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Key Takeaway:

  • By Technology, in 2022, the artificial intelligence (AI) in the agriculture market was dominated by the machine learning and deep learning segment, with a revenue share of 39.6%
  • By Application, the precision farming segment administrated the demand with a revenue portion over the forecast period.
  • By Component, software represented the greatest revenue piece of over 45.2% in 2022.
  • In 2022, North America dominated the market with the highest revenue share of over 39%.
  • Over the forecast period, Asia Pacific is expected to witness the highest compound annual growth rate due to the increasing use of artificial intelligence technology in agriculture.

Factors affecting the growth of the artificial intelligence (AI) in agriculture industry?

Several factors can have an impact on the growth of artificial intelligence (AI) in agriculture industry. Some of these factors include:

  • Each day, vast amounts of data are created in both structured and unstructured forms.
  • This includes historical weather patterns and soil reports, as well as new research and drone images taken at specific spots. IOT solutions can sense all this to increase yield and provide strong perceptions.
  • Remote Sensing, which detects proximity to a location, and Remote Sensing Underground Soil at that specific spot are two commonly used technologies for intelligent data fusion.
  • Rowbot is one such hardware solution that combines data-gathering software with robotics to produce the ideal fertilizer for corn.
  • High-altitude agriculture is one of the hottest topics in agriculture today. Drone-based images provide invaluable field analysis, crop observation, scanning, and more; farmers can even combine IOT and drone data to make quick decisions.
  • Aerialtronics installed the IBM Watson IoT Platform and Visual Recognition APIs on its commercial drones for real-time image analysis.
  • Computer vision technology is being increasingly employed to detect crop readiness, detect disease and manage fields – helping farmers stay ahead.
  • Hyperspectral imaging, remote sensing, and 3d laser scanning are all potential methods for creating crop metrics over thousands of acres.
  • This technology could revolutionize how farmers view farmlands. Monitoring can be conducted throughout a crop’s lifecycle to detect anomalies and generate reports.

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Market Restraints

Because of the shortage of skilled workers, aging farmers, and declining interest among young people in farming as a career path, there has been an alarming decrease in global workforce numbers. As governments and private institutions strive to automate agriculture operations using artificial intelligence technology, this trend towards decreasing labor has caused alarmingly rapid increases.

Market Trends

The demand for robots has grown as agriculture stakeholders prioritize increasing productivity and reducing carbon footprints. Robotic companies offer products that can be applied in both structured and unstructured agricultural settings. Robots were originally developed with industrial production in mind, but technological advancements have allowed them to expand into other sectors like transport or healthcare. Furthermore, robotic systems are playing an increasingly important role in alleviating food scarcity; milking farms now use them too!

Regional Analysis

North America accounted for more than 39% of the global market in 2022 due to its dominant industrial automation industry and increasing adoption of artificial intelligence solutions. North America boasts a higher purchasing power, continued investments in automation, significant investments in IoT technology, and government initiatives toward in-house AI equipment manufacturing. Furthermore, many agricultural technology providers such as Deere & Company, Microsoft, Granular Inc., and The Climate Corporation are present on this front.

Over the forecast period, Asia Pacific is expected to witness the highest compound annual growth rate due to the increasing use of artificial intelligence technology in agriculture. China and India are two emerging economies that have already adopted artificial intelligence solutions such as remote monitoring technology or predictive analysis for food industry needs. Agribusiness companies are being encouraged to utilize AI-enabled services and solutions due to the growing demand for smart cities.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 1.2 Billion
Market Size (2032) USD 10.2 Billion
CAGR (from 2022 to 2032) 24.5%
North America Revenue Share 39%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Every day, vast amounts of data are produced in both structured and unstructured formats. This includes historical weather patterns, soil reports, and new research. IoT solutions can detect all this information to create strong perceptions that increase yield. Remote Sensing uses intelligence data to combine it with soil analysis using subsurface soil in an area. Rowbot, combining data collection software with robotics technology, has already proven to be the best fertilizer for growing corn.

Market Challenges

AI in agriculture has many applications, yet there is a lack of awareness regarding high-tech machine-learning solutions in farms around the world. Adjusting farming to external factors such as weather patterns, soil conditions, and pest presence requires significant financial investment, while AI systems likewise need vast amounts of data in order to train machines and make accurate predictions.

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Report Segmentation of artificial intelligence (AI) in Agriculture Market

Technology Insight

The market can be segmented on technology into machine learning and deep learning, predictive analytics, and computer vision. Many agribusiness companies utilize predictive analytics to deploy artificial Intelligence; AgEagle Aerial Systems Inc., Microsoft, and Granular have all developed AI-enabled platforms and solutions for agriculture and farming that utilize this predictive analytics technology.

Application Insight

The market can be divided into four categories based on application: precision farming, drone analytics, and agriculture robots. Precision farming is expected to hold a dominant share during the forecast period due to its AI-enabled capabilities, which help farmers reduce costs and maximize resources.

AI is used in precision farming to collect, interpret and analyze digital data. GPS-equipped combines harvesters employ artificial intelligence to track harvest yields for field variability analysis – including differences in soil makeup and water. This analysis and prediction allow farmers to adjust fertilizers or pesticides accordingly. An AI system can control agriculture robots through artificial intelligence combined with field sensors and data analytics. They’re effective for many applications, such as harvesting crops efficiently or wedding with ease. The segment of agriculture robots is being driven forward by the growing adoption of artificial intelligence technology along with advances in robotics technology.

Component Insight 

The software industry is witnessing an uptick in the use of predictive analytics-based tools. Popular programs include the Watson Decision Platform from AI Sowing App for Microsoft, IBM Corporation, and See and Spray pesticide and insecticide distribution systems from Deere and Company. These artificial intelligence programs assist farmers with selecting when to plant crops; spotting crop diseases; tracking yield; as well as calculating land, fertilizers, and water requirements. AI technology has many potential uses, such as precision farming or drone analysis – further fuelling demand for software within this segment of the agricultural software market.

For more insights on the historical and Forecast Artificial Intelligence (Ai) In Agriculture Market data from 2016 to 2032 – download a sample report at https://market.us/report/artificial-intelligence-ai-in-agriculture-market/request-sample/

Market Segmentation

By Technology

  • Machine Learning & Deep Learning
  • Predictive Analytics
  • Computer Vision

By Application

 By Component 

  • Hardware
  • Software
  • Service
  • AI-as-a-Service

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

Vendors offering artificial intelligence solutions to agriculture focus on growing their customer base to gain a competitive edge in the market. To do this, they often implement strategic initiatives like mergers and acquisitions as well as partnerships. Deere & Company recently joined Cultivating New Frontiers in Agriculture (CNFA) on May 26th to implement mechanization within their agriculture industry. Climate Corporation followed suit in October 2018 by joining forces with three agriculture tech firms: SoilOptix and AgCon Aerial Corp.; this collaboration allows farmers new capabilities while expanding Climate FieldView’s digital platform further.

Some of the major players include:

  • Raven Industries Inc.
  • Farmers Edge Inc.
  • Deere & Company
  • A.A Taranis Visual Ltd.
  • Gamaya SA
  • AGCO Corporation
  • Bayer AG
  • IBM Corporation
  • Ag Leader Technology
  • Trimble Inc.

Recent Development of artificial intelligence (AI) in agriculture Market

  • In May 2022, AGCO was acquired by JCA Industries to enhance its engineering and software development abilities, as well as expedite the production and deployment of autonomous and highly automated machines.
  • In April 2022, Deere & Company created a joint venture in Kingsburg, Calif. with GUSS Automation to develop Global Unmanned Spray System–an industry leader for semi-autonomous sprayers used for vineyards and orchards alike.
  • In March 2022, Raven’s expansions of facilities in Arizona and South Dakota will likely drive up demand for Ag Tech, which is industry-leading.

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Artificial Intelligence

LambdaTest launches LambdaTest extension for GitHub Copilot to make test automation pervasive across SDLC and drive developer productivity

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NOIDA, India and SAN FRANCISCO, May 22, 2024 /PRNewswire/ — LambdaTest extension for GitHub Copilot enables AI-powered bridge experiences by seamlessly integrating test and dev workflow. It acts as a test automation copilot, assisting developers with quality assurance capabilities across different stages in SDLC, right where they code.

May 22, 2024, Noida/San Francisco: LambdaTest, a leading cloud-based unified testing platform, announced the launch of the LambdaTest extension for GitHub Copilot. This innovative capability revolutionizes the way developers manage and execute test workflows within their integrated development environments (IDEs).
The LambdaTest extension seamlessly integrates with GitHub Copilot Chat bridging the gap between development and testing workflows. Developers can now trigger test execution directly from their GitHub and VS Code environment, eliminating the need to switch between multiple applications. This streamlined process enhances productivity and accelerates software delivery.
With LambdaTest extension, developers can initiate tests effortlessly with a simple command, bringing testing closer to their code. This capability not only saves time but also enhances collaboration among development and testing teams by providing a unified platform for managing quality software releases, faster.
Moreover, real-time feedback integrated into GitHub Copilot empowers developers to iterate more efficiently, at speed, ensuring the quality and stability of their codebase. By conveniently viewing regression run results within their coding environment, developers and testers can quickly identify and address potential issues or bugs, facilitating faster resolution and delivery of high-quality software.
“LambdaTest Extension for GitHub Copilot is a huge milestone in our commitment to enable devs and QA processionals worldwide with frictionless experiences to accelerate software delivery.,” said Mohit Juneja, VP, Strategic Sales and Partnerships, LambdaTest. “Gone are the days of switching between multiple applications; now, developers can design, trigger, and analyze tests with simple prompts in natural language, without switching context from the IDE.”
The benefits of the LambdaTest extension extend beyond just test execution. It also offers powerful analysis tools, allowing developers to dive deep into test data, identify trends, and make data-driven decisions to continuously improve code quality and stability.
LambdaTest remains committed to driving innovation in the field of software testing, and this capability is another testament to that commitment. By providing developers and testers with tools to streamline processes and deliver high-quality software efficiently, LambdaTest continues to support and empower software development teams worldwide.
The LambdaTest extension for GitHub Copilot is now available for developers and testers. To learn more and get started, visit https://github.blog/2024-05-21-introducing-github-copilot-extensions
About LambdaTest LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.
Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.For more information, please visit, https://lambdatest.com
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DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions

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Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.

“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
 
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.

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Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.

A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.  
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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