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Showing posts with the label AI in Agriculture Market Trends

AI in Agriculture Market to Witness Robust Growth in Coming Years

The rising penetration of the internet of things (IoT) technology in the agriculture sector, mounting demand for high crop yields, increasing deployment of drones for pesticide spraying, surging need for real-time livestock monitoring, and growing focus on improved crop management are expected to drive the artificial intelligence (AI) in agriculture market at a CAGR of 24.8% during the forecast period (2020–2030). The market revenue stood at $852.2 million in 2019, and it is projected to reach $8,379.5 million by 2030. The increasing adoption of drones by farmers has become a key growth driver for the market. Drones are being used for scanning soil health, estimating yield data, applying fertilizers, and assisting in irrigation schedules. Moreover, the surging number of government initiatives facilitating the adoption of drones for improving agricultural practices is having a positive impact on the market. For example, in January 2019, the state government of Maharashtra, India, partne...