In this article, we will look at the top 20 AI and robotics companies transforming the agriculture sector. If you want to skip our detailed industry analysis, head straight to the Top 5 AI and Robotics Companies Transforming the Agriculture Sector.
The global agriculture market, as of 2023, has witnessed huge growth, with a market size increasing from $12.25 trillion in 2022 to $13.40 trillion in 2023 and marked a 9.4% compound annual growth rate (CAGR), as noted by Research and Markets. This expansion can be attributed to several factors, like the increasing global population, which is projected to reach 10 billion by 2050 and has led a to heightened food demand. Crop production, a major component of agriculture, has seen considerable growth, with global cereal production expected to increase by 13% by 2027.
Agribusiness companies are also actively acquiring arable land to boost crop production and meet the rising demands. It is also worth highlighting that owing to the rising demand of labor in agriculture, farming has emerged as one of the most respected professions in the world.
How Is Artificial Intelligence Transforming the Agriculture Industry?
We have already established many industries are being revolutionzed by AI and automation technologies and hence, agriculture industry is no exception. It is also worth mentioning that Agricultural Robots, Predictive Analytics, and, Crop and Soil Monitoring are the three most popular applications of AI in agriculture.
Smart farming, powered by IoT technology, is revolutionizing agriculture by leveraging sensors, gateways, and data analysis to optimize crop management. These sensors capture essential data from fields, which is then stored and analyzed on cloud platforms. This enables farmers to access real-time insights through user-friendly dashboards, facilitating more efficient and informed decision-making. To read more about Iot, check out our article on Biggest Internet of Things Companies in the World.
Microsoft Corp (NASDAQ:MSFT), one the key artificial intelligence companies in USA, is actively contributing to the transformative trend of smart farming through its Azure Data Manager for Agriculture. This innovative solution by Microsoft Corp (NASDAQ:MSFT) addresses critical challenges in the agriculture industry by harnessing data and technology.
Azure Data Manager for Agriculture connects data sources across farms, breaking down data silos and provides valuable insights into soil health, weather patterns, waste tracking, and carbon sequestration. Hence, Microsoft Corp (NASDAQ:MSFT) is undoubtedly one of the top AI companies transforming the agriculture sector.
Microsoft Corp (NASDAQ:MSFT)’s collaboration with industry leaders like Bayer and Land O'Lakes demonstrates the practical application of this technology. For example, Bayer utilizes Azure Data Manager to offer insights to farmers through its FieldView platform, enhancing yield predictions and crop health monitoring. Land O'Lakes uses the tool to empower farmers to adopt sustainable practices through its Truterra sustainability tool, which tracks environmental impacts.
Similarly, International Business Machines Corp (NYSE:IBM)’s Environmental Intelligence Suite has revolutionized agriculture with AI-driven solutions. It provides real-time weather data and machine learning-powered forecasting for precise crop management, supply chain optimization, and market demand predictions. This empowers agribusinesses to navigate the challenges of climate change and food security by making informed decisions.
This suite by International Business Machines Corp (NYSE:IBM) offers hyper-local weather data for customized farming applications, helping with planting, feeding, spraying, and irrigation scheduling. A number of case studies have proven its impact, from reducing power outages in India to enhancing water usage insights for Texan farmers. International Business Machines Corp (NYSE:IBM)’s suite equips the agriculture industry with the tools to thrive in the digital age.
On the other hand, precision agriculture is becoming increasingly vital in modern farming, as it offers huge benefits and is on the rise despite its high associated costs. With technological developments, farmers can now measure and manage specific segments of their fields in real-time that results in improved efficiency. For instance, farmers like Bret Johnson have reported huge gains in yield and resource management through precision agriculture, with the ability to reduce nitrogen usage from the average of 1.2 pounds per bushel to as little as half a pound per bushel.
Moreover, precision agriculture tools can identify and address plant and insect diseases that improve the overall crop health. However, widespread adoption of the technology faces hurdles due to substantial initial investments, such as tens of thousands of dollars for tools like yield monitors, guidance systems, and drones, along with ongoing subscription fees and training costs. Nonetheless, for early adopters, precision agriculture is indispensable for risk mitigation and improved farm management.
Deere & Co (NYSE:DE) is spearheading a revolution in precision farming by harnessing advanced technologies to optimize agricultural practices. Through the integration of space technology, artificial intelligence (AI), and data analytics, Deere & Co (NYSE:DE) is providing farmers with invaluable insights. They utilize satellite imagery to monitor crops more effectively, pinpointing variations in soil moisture, nutrient levels, and plant health with precision. This data-driven approach minimizes resource wastage and maximizes yields, ultimately benefitting both farmers and the environment.
Furthermore, Deere & Co (NYSE:DE) has invested in electric tractors that boast low maintenance costs, a testament to their commitment to sustainability. These tractors are powered by batteries and reduce emissions and operating costs for farmers. Additionally, Deere & Co (NYSE:DE)’s foray into AI and machine learning helps farmers make informed decisions.
The pinnacle of their innovation is the fully autonomous tractor, a result of 20 years of AI development, which ensures tasks are completed efficiently and to a high standard. Through these technologies, Deere & Co (NYSE:DE) is not only improving farming productivity but also reducing the environmental footprint of agriculture.
To list the top AI and robotics companies transforming the agriculture sector, we have included companies that have been actively involved in contributing innovative solutions for agriculture with the help of automation and AI. We have ranked the companies in order of number of employees, as the list is presented in ascending order. The workforce here has been taken as a proxy for companies' scale. For privately held companies, the number of employees has been estimated using data from their official LinkedIn profiles.
Here is a list of the Top 20 AI and Robotics Companies Transforming the Agriculture Sector.
20. Harvest CROO Robotics, LLC
Number of Employees: (est) 50
Harvest CROO Robotics is revolutionizing agriculture with its autonomous strawberry harvesting technology. They utilize LIDAR, AI, and machine learning that enables precise, efficient, and safe berry picking. The technology not only reduces labor dependency and increases yield but is also potentially setting a new standard in fruit harvesting practices.
19. AgEagle Aerial Systems, Inc (NYSE:UAVS)
Number of Employees: (est) 150
AgEagle Aerial Systems, Inc (NYSE:UAVS) contributes to the agriculture sector by offering drone-based data solutions that enable farmers and professionals to improve crop management, reduce input costs, and increase yields through precise insights and monitoring. It is one of the top AI and robotics companies transforming the agriculture sector.
18. Blue River Technology Inc
Number of Employees: (est) 180
Blue River Technology is bringing a revolution in the sector by introducing intelligent machinery in agriculture and combining computer vision and machine learning to optimize crop management and sustainable solutions. They develop software, robotics, and precision weed control technology to address herbicide resistance and improve farming practices, all while prioritizing environmental and economic sustainability.
17. Clearpath Inc
Number of Employees: (est) 250
Clearpath Inc. was founded in 2009. Clearpath robotics plays a pertinent role in the manufacturing of farming equipment. It is headquartered in Kitchener, Ontario, and focuses mainly on streamlining field robotics research for a number of universities. It is one of the most innovative robotics companies for agriculture.
16. AppHarvest, Inc (OTC:APPH)
Number of Employees: (est) 300
AppHarvest, Inc (OTC:APPH) is a U.S.-based food production company that specializes in the development and management of indoor farms located in the Appalachian region. One of its prominent facilities is a 60-acre tomato farm situated in Morehead, Kentucky, with aims to establish three more farms throughout the state.
AppHarvest, Inc (OTC:APPH) also aims to utilize Kentucky's strategic central location to minimize carbon emissions by supplying fresh produce to markets in the Midwest and along the East Coast. In 2021, AppHarvest, Inc (OTC:APPH) acquired Root AI, an agricultural robotics firm to boost their efficiency and expand technological capabilities in their indoor farming operations.
Number of employees: (est) 350
Plenty, a vertical farming company, utilizes AI and robotics to revolutionize agriculture by managing environmental variables such as water, light, and temperature to optimize crop growth. This technology enables them to produce substantially more food per acre while using 99% less land and 95% less water compared to traditional farming methods.
14. Benson Hill Inc (NYSE:BHIL)
Number of Employees: 450
Benson Hill Inc (NYSE:BHIL) employs AI-driven technology called Cloud Biology and CropOS to enhance plant science and breeding processes. Hence, Benson Hill Inc (NYSE:BHIL) enables precise and efficient plant breeding that reduces costs and environmental impact while optimizing crop traits for improved nutrition, taste, and sustainability from seed to ingredient production.
13. Bowery Farming
Number of employees: (est) 750
Bowery Farming employs AI, automation, sensors, and robotics, including their proprietary system BoweryOS, to monitor and analyze crops in real-time. This enables precise, pesticide-free cultivation in vertical farms across multiple locations, serving major retailers like Walmart Inc (NYSE:WMT) and Whole Foods to improve local and fresh produce supply.
12. Raven Industries, Inc (NASDAQ:RAVN)
Number of Employees: 1,251
Raven Industries, Inc (NASDAQ:RAVN) is known for improving agriculture through autonomous and automated precision technology solutions. Raven Industries Inc (NASDAQ:RAVN)’s products simplify farming tasks, increase efficiency, and improve profitability. These innovations include autonomous farming, connectivity, guidance systems, application controls, displays, and operator performance.
11. Trimble, Inc (NASDAQ:TRMB)
Number of Employees: 11,931
Trimble Inc (NASDAQ:TRMB) utilizes AI and precision technology for farming and agriculture through a range of solutions. These include guidance displays, controllers, and receivers that calculate equipment positions, steering systems for precise equipment control, flow and application control systems for accurate input application, and water management solutions. Trimble Inc (NASDAQ:TRMB) is one of the top precision agriculture companies.
10. Corteva, Inc. (NYSE:CTVA)
Number of employees: 21,000
Corteva Inc (NYSE:CTVA)’s agri uses AI in its digital tools to provide farmers with actionable data and agronomic insights. AI aids in data analytics and predictive agriculture tools and thus, enables more informed decisions for improved crop performance, sustainability, and profitability. Corteva Inc (NYSE:CTVA) is one of the top agribusiness companies in the world by revenue.
9. AGCO Corporation (NYSE:AGCO)
Number of Employees: 23,000
AGCO Corporation (NYSE:AGCO) is a prominent agricultural machinery manufacturer in the US. AGCO Corporation (NYSE:AGCO) specializes in the design, production, and distribution of various farming equipment like tractors, combines, foragers, hay tools, self-propelled sprayers, smart farming technologies, seeding machinery, and tillage equipment.
Number of Employees: 30,000
Syngenta is a Swiss-based ag-tech company focused on sustainable agriculture. They innovate in crop protection and seed development with a vision to provide safe and nutritious food. Syngenta has recently collaborated with Insilico Medicine to leverage AI and deep learning for discovering new, eco-friendly molecules in agriculture. It is one of the top ai and robotics companies transforming the agriculture sector.
7. CNH Industrial N.V. (NYSE:CNHI)
Number of Employees: 40,070
CNH Industrial is integrating AI and robotics into agriculture through its investment in Stout Industrial Technology. Stout's AI-powered smart implements, like the Smart Cultivator, use cameras and proprietary vision technology to identify crops and weeds that enable simultaneous cultivation and weed removal without chemicals. This technology enhances efficiency and sustainability in farming practices.
6. Archer-Daniels-Midland Co (NYSE:ADM)
Number of employees: 42,001
Archer-Daniels-Midland Co (NYSE: ADM) has recently collaborated with Brightseed to develop synbiotic products using artificial intelligence (AI) to explore the interactions between dietary plants, gut microbes, and human health. Their goal is to create science-backed solutions that improve microbiome health and produce functional ingredients by 2025.
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Disclosure: None. Top 20 AI and Robotics Companies Transforming the Agriculture Sector is originally published on Insider Monkey.