Generative Artificial Intelligence (AI) in Agriculture Market Report 2024

This Generative Artificial Intelligence (AI) In Agriculture market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The generative AI in agriculture market size has grown exponentially in recent years. It will grow from $0.17 billion in 2023 to $0.22 billion in 2024 at a compound annual growth rate (CAGR) of 27.3%. The growth during the historic period can be attributed to several factors, a rising global population, reductions in farming operation costs, increasing investment in AgriTech startups, better access to AI tools, and AI's role in developing crops tailored to specific environments.

The generative AI in agriculture market size is expected to see exponential growth in the next few years. It will grow to $0.58 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The anticipated growth during the forecast period can be attributed to several factors, rising demand for precision agriculture, efforts to mitigate climate change, pressure for sustainable farming practices, supportive policies and subsidies for AI integration in agriculture, and the need for increased food production. Key trends expected to drive this growth include the use of AI for data analytics in farming, automation through AI, advancements in IoT and sensors, AI-powered crop monitoring, and the development of smart irrigation systems.

The growth in crop yields is anticipated to boost the generative AI in agriculture market. Crop yields refer to the amount of produce obtained per unit area of land. The increase in crop yield rates can be attributed to several factors, including advancements in agricultural practices, improved seed varieties, technological innovations, better pest management, efficient irrigation, enhanced soil management, climate adaptation, and ongoing research and development. Generative AI in agriculture is essential for optimizing crop yields because it facilitates precise predictions and enhancements in growing conditions, resource allocation, and management practices, leading to greater productivity and reduced waste. For example, the Department for Environment, Food and Rural Affairs reported in February 2024 that the UK’s total cereal production, including wheat, barley, oats, and minor cereals, reached nearly 24.3 million metric tons in 2022. This represents an 8% increase from 2021, with the production value rising by 54% to about $7.9 billion (£6.2 billion) due to higher prices and increased output. Hence, the rise in crop yields is driving the expansion of the generative AI in agriculture market.

Leading companies in the generative AI in agriculture market are developing advanced technologies, such as generative AI systems, to improve agricultural practices. Generative AI systems are capable of creating new data samples that replicate the characteristics of an original dataset, often used for tasks such as image generation, text creation, and data augmentation. For instance, in April 2024, Cropin Technology, an agritech company based in India, launched Aksara. This cutting-edge generative AI system is designed for climate-smart agriculture and provides tailored recommendations for nine major crops - paddy, wheat, maize, sorghum, barley, cotton, sugarcane, soybeans, and millets - across six countries in the Indian subcontinent. Aksara delivers actionable insights on crop inputs and climate-smart practices based on specific agro-climatic conditions, helping to overcome challenges faced by underserved farming communities in the Global South and empowering agriculture sector stakeholders with scalable, AI-driven solutions.

In September 2023, SAP SE, a German company specializing in generative AI solutions for agriculture, partnered with Vista GmbH. This collaboration aims to offer an integrated solution that enables agribusinesses, food companies, and public sector organizations to leverage crop predictions based on Vista’s advanced crop growth and digital twin models. The integration allows users to seamlessly incorporate these insights into their business processes through SAP Intelligent Agriculture. Vista GmbH is a German provider of generative AI solutions for agriculture.

Major companies operating in the generative artificial intelligence (AI) in agriculture market are Bayer AG, Benson Hill Inc., Raven Industries Inc., AgroStar, FarmWise Labs Inc., Sentera Inc., Farmers Edge Inc., Taranis, AeroFarms LLC, Ceres Imaging Inc., CropX Inc., FarmBot, Source AG, FarmLogs, Fasal, AgriWebb Pty Ltd., Ecorobotix Ltd., IUNU Inc., Trace Genomics Inc., KisanHub, Agmatix, Agroop, Aker Technologies Inc., Bloomfield Robotics, SmartFarm, Harvest CROO LLC.

North America was the largest region in the generative AI in agriculture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence (AI) in agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the generative artificial intelligence (AI) in agriculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative artificial intelligence (AI) in agriculture involves applying advanced AI techniques, particularly generative models, to improve various farming and agricultural practices. These models analyze historical data, weather patterns, and soil conditions to predict crop yields, aiming to make agriculture more productive, sustainable, and efficient. This enhancement helps strengthen food systems and increase food security.

The primary crops involved in generative AI applications include wheat, rice, corn, vegetables, and others. Wheat, a staple grain used mainly for making flour for bread, pasta, and other baked goods, benefits from generative AI technologies such as deep learning, computer vision, machine learning, natural language processing, and robotics. These technologies are applied in areas like precision farming, livestock management, crop management, and soil analysis. End-users of these AI applications include farmers, agricultural technology companies, agricultural consultants, government agencies, and research institutions.

The generative AI in agriculture market research report is one of a series of new reports that provides generative AI in agriculture market statistics, including generative AI in agriculture industry global market size, regional shares, competitors with a generative AI in agriculture market share, detailed generative AI in agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the generative AI in agriculture industry. This generative AI in agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The generative AI in agriculture market consists of revenues earned by entities by providing services such as pest and disease detection, soil health monitoring, irrigation management and genetic analysis for breeding. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative AI in agriculture market also includes sales of supply chain optimization software, AI-driven crop monitoring systems, yield prediction software and soil health analysis kits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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