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Internet of Things Penetration to Drive Artificial Intelligence Market in Agriculture
The increasing penetration of internet of things (IoT) in the agriculture industry, popularity of cattle facial recognition software, and decreasing price of sensors are instrumental in driving the artificial intelligence (AI) market in agriculture forward. In 2016, the market generated a revenue of $110.3 million and is projected to grow at a CAGR of 23.2% during the forecast period (2017–2023). The substitution of human intelligence and manual efforts by computer-aided technology in gardening and farming applications is referred to as AI in agriculture. The AI market in agriculture is witnessing the trend of robotics in agricultural practices. Farming has become modernized with the growing research and development activities in the field of robotics.