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Global Artificial Intelligence in Agriculture Market Report 2023: Sector is Expected to Reach $4.9 Billion by 2030 at a CAGR of 24.1%

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Dublin, April 24, 2023 (GLOBE NEWSWIRE) — The “Global Artificial Intelligence in Agriculture Market Size, Share & Industry Trends Analysis Report by Technology, Application, Offering, Regional Outlook and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

The Global Artificial Intelligence in Agriculture Market size is expected to reach $4.9 billion by 2028, rising at a market growth of 24.1% CAGR during the forecast period.

Key Market Players

List of Companies Profiled in the Report:

  • Deere & Company
  • IBM Corporation
  • Microsoft Corporation
  • Climate LLC (Bayer AG)
  • Farmers Edge Inc
  • AgEagle Aerial Systems, Inc.
  • Prospera Technologies, Inc. (Valmont Industries, Inc.)
  • A.A.A Taranis Visual Ltd.
  • CropIn Technology Solutions Private Limited
  • Corteva, Inc. (Dow AgroSciences LLC)

Farmers can benefit from real-time insights into their fields, monitoring of plant health, soil quality, temperature, automation of irrigation, and pesticide application processes, all of which increase the overall quality and accuracy of the crop. Precision farming, drone analytics, agriculture robots, livestock monitoring, and labor management are just a few of the applications of AI in agriculture that strive to maximize crop production efficiency. Adoption of deep learning technology is boosting crop productivity, fueling the market’s expansion.

Farming with artificial intelligence approaches results in higher productivity and yield. Because of this, agricultural firms embrace artificial intelligence technologies for solutions based on predictive analytics. AI-based tools and methods assist with pest management, healthier crop production, soil monitoring, and jobs related to agriculture throughout the entire supply chain. Furthermore, since it assists in the analysis of farm data, artificial intelligence is increasingly being utilized by agriculture businesses to enhance harvest quality and accuracy.

The need for AI in the agriculture sector is driven by the world’s rapidly expanding population. In addition, the demand for a green revolution powered by artificial intelligence, the Internet of Things (IoT), and big data is driven by the scarcity of arable land and the requirement for greater food production for food security. Several aspects of the agriculture sector are catered by AI-enabled apps, including predictive and recommendation analytics, plant disease detection, pest infestation detection, and soil monitoring.

Aside from that, automation in agriculture assists in allocating resources like water and fertilizer, choosing the best time to plant crops, and identifying weeds, which increases the demand for artificial intelligence technologies. Using previous long-term weather forecasts, production data, commodity pricing forecasts, and seed information, among other inputs, it also assists in recommending how many seeds should be sown. Several IT juggernauts and start-ups are developing IoT-enabled devices to implement AI applications for agriculture on a wide scale due to the numerous advantages of these applications.

Market Growth Factors

Growing acceptance of IoT driving market expansion

Demand is mostly driven by the growing deployment of IoT. The demand for IoT in agriculture is rising due to the expanding usage of mobile devices and cloud computing, as well as the numerous advantages offered by IoT, including the capacity to manage massive amounts of structured and unstructured data.

For example, IoT sensors are utilized in agricultural practices to give farmers crucial information regarding rainfall, soil nutrition, crop yields, and pest infestation, among other things. Such data provides accurate information that can be used to promote crop production and can be used to raise the caliber of both farming practices and agricultural output. These elements would support the growth of the regional market.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Growing use of robotics in agriculture

A key development in the market is the growing use of robotics in agriculture. Farming techniques are advancing in sophistication and modernity due to the rising use of technology in agriculture.

The usage of agricultural robots is expanding globally due to the expanding world population, the scarcity of farm employees, and the automation of the agricultural sector. Agribusiness stakeholders are also largely focused on improving output productivity through innovative farming techniques and minimizing the overall carbon footprint. Thus, robotics businesses are providing services that are AI-equipped to function in them.

Market Restraining Factors

Less technical knowledge among farmers

Precision agriculture is a type of farming that necessitates an in-depth understanding of technology. However, owing to a lack of awareness of the implementation of cutting-edge technology, a gap exists between the comprehension and deployment of precision farming principles. Despite governments and market partners worldwide undertaking projects to provide farmers with training &consulting services on precision farming techniques, a significant percentage of farmers remain inaccessible. So far, farmers in developing nations lack technological competence, providing a substantial challenge for market players.

Scope of the Study

By Technology

  • Machine Learning
  • Computer Vision
  • Predictive Analytics

By Application

  • Drone Analytics
  • Precision Farming
  • Agricultural Robots
  • Labor Management
  • Livestock Monitoring
  • Others

By Offering

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

For more information about this report visit https://www.researchandmarkets.com/r/ys03i3

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

oToBrite Develops a Compact All-Weather Vision-AI Driver Monitoring System for the Commercial Vehicle Market

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HSINCHU, May 9, 2024 /PRNewswire/ — oToBrite, a leading provider of vision-AI ADAS solutions, has successfully developed a compact all-weather vision-AI Driver Monitoring System (DMS). With a high-sensitivity automotive-grade global shutter image sensor, the system achieves outstanding Quantum Efficiency (QE), providing clear image quality day and night. With oToBrite’s proprietary secondary optical system, the overall combination effectively enhances the accuracy and reliability of the vision-AI algorithm in all weather conditions. The DMS has already been successfully delivered to heavy commercial vehicle manufacturers, mitigating the potential risks of traffic accidents.

oToBrite’s vision-AI DMS utilizes self-developed AI 3D facial landmark technology to identify over 100 driver IDs and recognize driving behaviors, including smoking, phone use, distraction, fatigue. The system remains effective even when drivers wear Level 3 sunglasses or coated glasses, without compromising the detection and recognition capabilities of vision-AI.
The vision-AI DMS features a 940nm infrared and high-QE sensor, coupled with oToBrite’s proprietary optical design, ensuring clear images in strong light conditions (>120K lux) or during nighttime driving. Additionally, oToBrite’s vision-AI technology optimizes facial image quality, ensuring accurate AI recognition whether driving against sunlight, backlight, or through tunnels.
Miniaturization is a significant trend in driver monitoring applications. oToBrite further emphasizes that, compared to many systems on the market requiring multiple LEDs for sufficient illumination, the DMS only needs one LED to meet the system’s image quality requirements. In terms of hardware technology, oToBrite’s secondary optical system adjusts the LED light source to any angle to meet light distribution needs. Concentrating the light source can double the illumination, producing more reliable images for AI recognition. This also reduces optical component usage, enhances image clarity, and saves installation space and system costs.
According to the 2023 market research report by Gii, the DMS market reached $1.3 billion in 2022, with an expected Compound Annual Growth Rate (CAGR) of 8.3% by 2028, reaching $20.8 billion. Currently, several countries are drafting or have implemented regulations, and driven by regulatory demand, oToBrite’s compact all-weather vision-AI DMS has begun mass production, contributing to achieving Vision Zero. Read more: http://www.otobrite.com/en/block/index/99
About oToBrite 
oToBrite is a leading vison-AI ADAS/AD solutions provider. Based in Hsinchu Science Park, oToBrite has IATF 16949-certified clean room factory and many years of experience as an automotive Tier-1 supplier. Through comprehensive research and development capabilities, oToBrite provides vision-AI algorithms, ECU/domain controllers and automotive-grade/special purpose cameras.
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View original content:https://www.prnewswire.co.uk/news-releases/otobrite-develops-a-compact-all-weather-vision-ai-driver-monitoring-system-for-the-commercial-vehicle-market-302140971.html

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Artificial Intelligence

OMRON Selects IPfolio from Clarivate

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IP solution maximizes operational efficiency for leading automation company
LONDON, May 9, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, announced today that OMRON has selected IPfolio™, an intellectual property management software from Clarivate to transform their IP operations. This solution will enable OMRON, a leading automation company to make smarter decisions and plan strategically using IP data and analytical insights.

With IPfolio’s help, OMRON will be able to better manage its IP assets and keep up with the rising number of filings and data volumes, while eliminating manual processes. The IP team at OMRON can enhance their analysis and collaboration with stakeholders by using insightful data visualizations. This can lead to increased productivity, deeper insights, and faster decision-making with confidence.
Gordon Samson, President, Intellectual Property, Clarivate, said, “Our IP Management Software integrates data and services to empower our clients to remove friction, enhance collaboration and make better informed decisions. We are confident that IPfolio will help OMRON simplify the process of managing IP assets across the entire lifecycle.”
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Jack Wan, External Communications [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/omron-selects-ipfolio-from-clarivate-302139322.html

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Artificial Intelligence

First-of-Its-kind Institute of Neurotechnology & Law Launches in the UK

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Most people don’t know that, due to recent groundbreaking scientific advances, existing technology can read thoughts, implant dreams, scan memory, tell if a subject is in love, and hack brains for PIN codes.
LONDON, May 9, 2024 /PRNewswire/ — Announcing the establishment of the Institute of Neurotechnology and Law (INL) – the first organisation of its kind in the world, crafted in response to the swift advancements in neurotechnology and the emerging concerns over human rights and privacy.

The world is about to change. Yet whilst AI steals the headlines, recent extraordinary advancements in neurotechnology have gone largely under the radar.
That is why we have set up the Institute of Neurotechnology and Law.
“We are at a critical juncture in the evolution of neurotechnology. The possibilities for improving human life are immense, yet so are the risks to privacy and autonomy,” stated Founder Harry Lambert. “The Institute of Neurotechnology and Law is dedicated to ensuring these technologies enable human flourishing without compromising our moral and ethical principles.”
The institute has already garnered significant attention, attracting some of the world’s foremost experts in neurotechnology, neuroscience, ethics, and law. These distinguished panellists will collaborate to address the pressing issues at the intersection of technology and human rights, aiming to influence policy both domestically and internationally.
For more information about the Institute of Neurotechnology and Law, upcoming events, and membership details, please visit www.neurotechlaw.com.
Media Contact: [email protected]. 07982678044

View original content:https://www.prnewswire.co.uk/news-releases/first-of-its-kind-institute-of-neurotechnology–law-launches-in-the-uk-302140545.html

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