Focus on precision farming and smart farming, livestock monitoring, simulated training and weather tracking and forecasting
DUBLIN, September 15, 2021 / PRNewswire / – The report “AR in Agriculture Market Analysis and Forecast, 2020-2026” has been added to ResearchAndMarkets.com offer.
AR in the agriculture market is expected to reach $ 4.43 million by 2026, with a CAGR of 37.4% during the forecast period 2021-2026
The strong market growth is expected to be driven by the increasing demand for precision agriculture and smart farming methods, which will further increase the demand for other digital technologies as well as augmented reality.
Market by Product: Analysis and Forecast: The segment gives a brief overview of the product portfolio of different companies and the market presence of different products existing in the market. For example, 21 potential AR smart glasses and headsets have been identified, which are commercially available in the extended reality and immersive reality market with their prices. However, these products are developed with a focus on applications other than agriculture.
Market by Application: Analysis and Forecast: The segment provides a brief overview of the market status of the various applications of the product and the major players offering products in these applications. Indoor farming app has dominated the market in terms of application in 2020. However, outdoor farming apps have greater potential as they generate more income compared to outdoor farming. interior. Outdoor agriculture applications segment is dominated by livestock monitoring applications. It is currently one of the most lucrative applications as well as the most promising segments. It is also expected to register the highest CAGR among other applications during the forecast period.
In the current situation, it can be concluded that AR technologies are currently at a very early stage of adoption and still need to be properly developed for agricultural practices. However, the majority of their deployment is in manufacturing sectors such as automotive, aviation machinery and other related industries. Basic industries such as agriculture are still a long way from being fully digital, as a very small number of farms around the world have deployed digital technologies in their operations.
Impact of COVID-19 on AR in the agricultural market
Augmented reality in the agriculture market is at a growth stage and no commercial product or solution is currently available in the market. Thus, the market may not be affected by changing economic scenarios in the short term, given that COVID-19 is a short term event. Thus, it can be concluded that COVID-19 had a neutral impact on AR in the agricultural market.
AR in the agricultural market by applications
The AR in Agriculture Market by Application is primarily driven by indoor applications such as vertical agriculture, hydroponics, aquaponics, and cannabis cultivation. As the world’s population grows exponentially, the total food supply must be increased; otherwise, the food shortage could lead to serious socio-political problems.
There are many indoor growing techniques such as vertical growing, aquaponics, hydroponics, and terrace cultivation. These farming techniques offer a wide range of advantages over commercial farming techniques. One of the main advantages of these techniques is the possibility of cultivating a wide range of products throughout the year, which was lacking in conventional agriculture.
AR on the agricultural market by Solutions
The AR market in agriculture by solution is dominated by the software segment, followed by the hardware segment. Augmented reality software is the most common method for deploying augmented reality platforms. The market is primarily driven by portable and mobile AR apps and AR web apps.
The software segment has a huge influence on portable applications and mobile devices. Applications for portable and mobile devices are very commonly used because they are very easy to deploy and do not require huge capital investments.
AR on the agricultural market by region
North America is the leading region in agricultural technologies in terms of adoption and market development. North American countries are far ahead of different regions, seeking to implement various digital technologies beyond conventional agricultural machinery and services for efficient agricultural production.
The region is one of the largest markets for the entire immersive reality ecosystem, leading the world in development due to the presence of market-leading AR development companies such as Microsoft and Google. It is also one of the major consumer electronics markets, which has helped shape a positive consumer outlook towards mobile devices and other electronics, including wearable devices such as AR smart glasses.
It is also home to some of the largest agricultural original equipment manufacturers (OEMs), such as John Deere, AGCO and Massey Ferguson. John Deere and Massey Ferguson have launched AR applications so that their consumers can experience their products in real life without the need for a physical machine.
Key questions addressed in the report
- What is the expected AR of agricultural market size during the forecast period 2021-2026?
- What is the expected future scenario and revenue generated by the different applications and product types?
- What is the expected future scenario and revenue generated by the application segments for which AR products are offered, including indoor and outdoor agricultural applications?
- Which region is the largest market for the AR market in agriculture?
- What is the expected future scenario and revenue generated by different regions and countries of the AR in Agriculture market such as North America, Europe, Asia Pacific and Japan, China, United Kingdom, Rest of the world?
- What is the impact of adoption scenario, associated opportunities, and challenges in the AR in Agriculture market?
- What are the business dynamics of AR in agriculture and what is its role in the market including market drivers, restraints and opportunities?
- How much revenue is each of the segments expected to register during the forecast period with the growth percentage?
Market Report Coverage – AR in Agriculture
- Application: outdoor farming (precision farming and smart farming, livestock monitoring, simulated training, weather tracking and forecasting) and indoor farming
- Solution: hardware, software and service
Market growth drivers
- Adoption of AR amid digitization
- Growing need to increase the efficiency of agricultural operations
- Increased demand for space computing applications
- Limited focus on agricultural applications
- Immersive reality health and safety issues
- Technology challenges
- Lack of standardization
- Growth in adoption of precision farming and smart farming methods
- Growing demand for mobile-based augmented reality and virtual reality platforms
Key companies profiled
- Grow up slips
- EON Reality
- Think digital
- Nedap SA
- Plant vision
- Visual Logic, LLC
- Rams Creative Technologies Pvt. Ltd.
- Queppelin Technology Solutions Private Limited
- Visartech inc.
- VSight UAB
- Infosys Limited
- Trimble Inc.
- Microsoft Corporation
- Alphabet Inc.
- Vuzix Company
For more information on this report, visit https://www.researchandmarkets.com/r/qblqk
Research and markets
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SOURCE Research and Markets