The Global India AI In Agriculture Market report, published by Report Ocean, presents a comprehensive analysis of the product’s/service industry, examining both historical patterns and future prospects from 2023 to 2031. This report serves as a valuable reference for businesses seeking to formulate effective strategies for the coming years, offering insights into the performance of organizations and the overall market in the previous year.
India AI in Agriculture Market to Grow at 24% through 2028
India AI in agriculture market is growing at a high CAGR because of the adoption of advanced data-generating technologies, such as sensors and machine learning to boost crop output and aid in the detection of disease and inadequate nutrition in plants and farms
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A recent study conducted by the strategic consulting and market research firm, Report Ocean, revealed that the India AI in agriculture market is estimated to grow at a CAGR of 24% during the forecast period 2022-2028. The market is growing at a rapid pace as more advanced data-generating technologies, such as sensors and machine learning, are being adopted to boost crop output and aid in the detection of disease and inadequate nutrition in plants and farms. However, lack of awareness and funding for AI among Indian farmers and high installation costs may act as a huge restraining factor for India AI in agriculture market growth.
Increasing Adoption of Advanced Technologies is Driving India AI in Agriculture Market
The increased usage of IoT and other modern technologies such as machine learning, cloud computing, and so on is another important reason propelling AI in India’s agriculture business. With the increased usage of mobile devices and cloud computing, India’s IoT business is developing. IoT’s various benefits, such as the capacity to manage vast volumes of structured and unstructured data formats, are driving IoT demand in the agriculture industry.
Expanding Infrastructure and Technology Infrastructure in India is Propelling AI In Agriculture Market
The AI in agriculture will require cloud computing to record and share data among various systems. India is significantly emerging as a leading cloud service provider globally with an increasing number of cloud data centers in different parts of the world. The cloud computing companies and startups are offering SaaS (Software-as-a-Service) as well as PaaS (Platform-as-a-Service) along with private, public as well as hybrid deployment modes. This is anticipated to boost the adoption of AI in agriculture in India.
India AI in Agriculture Market – By Agriculture
Based on agriculture, the India AI in agriculture market is segmented into precision farming, livestock monitoring, drone analytics, agriculture robots, labor management, and others. Precision farming holds the largest share in the market owing to the rising focus towards yielding the benefits of this type of agricultural practice. Precision farming helps in improving agricultural productivity through the use of sensors and data along with prompts the reduction of chemical use and efficient management of water resources.
India AI in Agriculture Market – Regional Insights
Geographically, the India AI in agriculture market is segmented into North India, South India, East India, and West India. Because agriculture is the primary source of income for the majority of people in this region, North India has the greatest share of AI in the agricultural market. The governments of states in these regions, such as Uttar Pradesh, Haryana, Punjab, and others, are adopting different measures and providing subsidies to encourage the use of new technologies like AI, hence boosting the overall market growth.
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Market Overview
Market Size & Forecast by Value, 2018-2028
By Value (USD Million)
Market Share & Forecast
By Technology
Machine Learning
Predictive Analytics
Computer Vision
By Offering
Hardware
Software
AI-As-A-Service
By Application
Precision Farming
Livestock Monitoring
Others
By Region
Northern India
Southern India
Eastern India
Western India
Impact of COVID-19 on India AI in Agriculture Market
The unprecedented COVID-19 epidemic hindered India’s AI in agricultural sector expansion. Due to the overwhelming number of COVID-19 cases, the Indian government was forced to implement a nationwide lockdown, which also interrupted agricultural activity. Due to a disruption in the distribution and supply chain, there was a scarcity of sensors and other AI components, which had a detrimental influence on the market. In addition, production constraints and a lack of semiconductor chips caused significant obstacles for India AI in agriculture industry.
Competitive Landscape
The leading market players of the India AI in agriculture market are IBM Corporation, Intello Labs, John Deere India Private Ltd, Intel Corp, CropIn Technology Solutions, Microsoft Corporation, Gobasco, SatSure Analytics India Pvt. Ltd., Aibono, Fasal, and other prominent players.
The India AI in agriculture market is highly fragmented with the presence of several multinational corporations as well as local startups. The companies constantly launch edge technologies and solutions as well as significantly invest in research and development activities to expand their market presence. Furthermore, they also prominently adopt competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India AI in agriculture market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of India AI in agriculture market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Some of the Key Questions Answered in this Report:
What are the key market trends and market dynamics?
Who are the major players in the market and what is their market share?
What is the competitive landscape like in the market?
What are the major drivers and restraints affecting the market?
What are the growth opportunities in the market?
What are the regional and local market conditions and consumer behavior?
What is the market size and growth forecast for different regions and countries?
What is the impact of government regulations and policies on the market?
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