The Global Augmented Reality In Agriculture Market Size is valued at 1.15 billion in 2022 and is predicted to reach 17.30 billion by the year 2031 at a 35.2% CAGR during the forecast period for 2023-2031.
The need for enhanced interaction in applications like field monitoring, equipment handling, and maintenance drives the demand for augmented reality in agriculture. These applications require the use of essential AR hardware. Furthermore, the agricultural sector has significantly transformed by introducing advanced agricultural solutions. Developing tailored field solutions, data-driven agronomic activities, and intelligent inputs at the field level has enabled successful farming operations, thus stimulating market growth.
However, collecting and processing sensitive farm operation data in augmented reality agriculture raises concerns regarding data privacy, protection, and regulation compliance. Addressing these concerns is crucial for farmers and organizations and can impact the market's growth. The increasing world population is exerting significant strain on global food production and prompting investments in agricultural innovations to enhance productivity in the farming sector.
Additionally, adopting augmented reality (AR) technology in agriculture will enable farmers to minimize crop wastage and enhance production speedily, thereby meeting the demands of consumers and reaching set targets. these elements are anticipated to drive the global augmented reality in agriculture market in the foreseeable future.
Competitive Landscape:
Some of the Augmented Reality in Agriculture market players are:
- Neap Livestock Management
- AMAZONEN-WERKE H. DREYER SE & Co. KG
- CLAAS Ka GmbH
- EON Reality
- Verstand Group
- Augment
- Grow Glide, LLC
- Plant Vision
- Visual Logic, LLC
- Anarchy labs
- Rams Creative Technologies Pvt. Ltd.
- Program-Ace
- Think Digital
Market Segmentation:
The augmented reality in agriculture market is segmented based on application and services. Based on application, the augmented reality in agriculture market is divided as indoor farming and outdoor farming. By solution, the market is segmented into hardware, software and service
Based On The Solution, The Hardware Category Is A Major Contributor To Augmented Reality In The Agriculture Market
The hardware category is expected to hold a major share in the global augmented reality in agriculture market in 2022. Applications requiring a higher level of engagement include field monitoring, handling equipment, and maintenance. Because of this, AR gear is essential for these applications. Nearly all specialized augmented reality gear incorporates transparent lenses since augmented reality aims to overlay virtual information onto the actual world. Utilizing AR devices, which contain displays, sensors, and other haptic elements, users can interact with the 3D holographic data and material that is being presented. The AR hardware consists of head-mounted displays with a wider field of view, such as smart glasses and headsets, as well as head-up displays.
The Indoor Farming Segment Witnessed Growth At A Rapid Rate
The indoor farming segment is projected to grow rapidly in the global augmented reality in agriculture market. Indoor agriculture can be considered the future of urban agriculture or a viable alternative to conventional commercial farming techniques. Several methods of growing food indoors include terrace farming, aquaponics, and vertical farming. Compared to commercial farming methods, these methods provide various advantages. An important advantage of indoor farming is that the product may be grown close to the point of sale, which reduces supply chain and storage costs and boosts profits. A
The North America Augmented Reality In Agriculture Market Holds A Tremendous Revenue Share In The Region
The North America Augmented Reality in the Agriculture market is expected to register a tremendous market share. Indoor agriculture can be viewed as either the urban agriculture of the future or as a practical substitute for traditional commercial agricultural methods. Terrace farming, aquaponics, and vertical farming are a few techniques for growing food indoors. These agricultural approaches offer some benefits over commercial farming techniques.
The product can be grown close to the point of sale, which lowers supply chain and storage costs while increasing revenues. This is a significant benefit of indoor farming. In addition, Asia Pacific is projected to grow rapidly in the global augmented reality in agriculture market. The adoption of augmented reality in agriculture has gained momentum due to the increasing need for sustainable farming practices, rising demand for precision agriculture technologies, and the availability of advanced infrastructure and technology resources.
The market is driven by the desire to optimize farm productivity, reduce resource wastage, improve decision-making processes, and enhance overall operational efficiency, which drives the regional market.
Augmented Reality In Agriculture Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.15 Bn |
|
Revenue Forecast In 2031 |
USD 17.30 Bn |
|
Growth Rate CAGR |
CAGR of 35.2 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Application and Services |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
Nedap Livestock Management, AMAZONEN-WERKE H. DREYER SE & Co. KG, CLAAS KGaA GmbH, EON Realit, Väderstad Group, Augmenta, mGrow Glide, LL, Plant Vision , Visual Logic, LLC, Anarky lab, Rams Creative Technologies Pvt. Ltd., Program-Ace and Think Digital |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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