By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–The “AR in Agriculture Market Analysis and Forecast, 2020-2026” report has been added to ResearchAndMarkets.com’s offering.
The AR in agriculture market is expected to reach $4. 43 million by 2026, with a CAGR of 37.4% during the forecast period 2021-2026
High growth in the market is expected to be driven by the growing demand for precision agriculture and smart farming methods, which will further increase the demand for other digital technologies along with augmented reality.
Market: Analysis and Forecast. This segment provides a quick overview of the product portfolios of different companies as well as the market presence for different products in the market. For instance, 21 potential AR smart glasses and head mounted displays were identified, which are commercially available in the extended reality and immersive reality market along with their prices. These products are not limited to agriculture, however.
Market By Application: Analysis and Forecast. This segment provides a quick overview of the market status for different applications and the key players that offer products in these applications. The indoor farming application led the market in terms of application in 2020. Outdoor farming applications offer greater potential, as they generate higher revenue than indoor farming. Livestock monitoring applications are the leader in outdoor farming. It is one of the most profitable and promising applications. It is expected to have the highest CAGR of all applications over the forecast period.
At the moment, AR technologies are still in an early stage of adoption. They are not yet developed to support agricultural practices. Their majority deployments are in the manufacturing sector, such as automotive, aviation machinery, or other related industries. The basic industries like agriculture are not yet fully digitalized. Only a few farms have implemented digital technology into their operations.
Impact of COVID-19 on AR in Agriculture Market
AR in agriculture market is at a growing stage, and there are no commercial products or solutions currently available in the market. Thus, the market may not get impacted by changing economic scenarios in the short term, considering COVID-19 is a short-term event. Thus, it can be concluded that COVID-19 had a neutral impact on AR in agriculture market.
AR in Agriculture Market by Applications
The AR in agriculture market by application is majorly driven by indoor applications, such as vertical farming, hydroponics, aquaponics, and cannabis farming. The global population is growing rapidly, so it is important to increase the supply of food.
Indoor farming includes aquaponics and hydroponics as well as terrace farming. These farming methods offer many advantages over traditional commercial farming. These techniques offer a number of advantages over traditional farming, including the ability to grow many different products throughout the year.
AR in Agriculture Market by Solutions
Currently, the software segment dominates the AR in agriculture market. The hardware segment is second. AR platforms are most commonly deployed using augmented reality software. The market is dominated by web AR apps and handheld AR applications.
Software applications have a significant influence on the software market. Because they are easy to use and don’t require large capital investments, handheld and mobile device applications are very popular.
AR in Agriculture Market by Region
North America leads in the adoption and development of agricultural technologies. The North American countries are more advanced than other regions and seek to use digital technologies for crop production.
This region is home to some of the most innovative AR companies in the world, such as Google and Microsoft. It is also home to one of the largest consumer electronics markets. This has contributed to a positive consumer attitude towards mobile devices, such as AR smart glasses, and other electronics.
The area is home to many of the biggest agricultural original equipment manufacturers (OEMs), including Massey Ferguson, AGCO and John Deere. Massey Ferguson and John Deere have created AR apps that allow their customers to see their products in person without the need for a physical machine.
Key Questions Answered in the Report
- What is the expected AR in agriculture market size during the forecast period 2021-2026?
- What are the future scenarios and revenues for the different application segments that AR products are available, including those used in indoor and outdoor farming?
- What region is the biggest market for AR in agriculture?
What are the future prospects and the revenue generated by different types of products and applications?
What is the future scenario for the AR in Agriculture market?
What are the current adoption trends, opportunities and challenges in the AR market for agriculture?
What is the business dynamics of AR and agriculture? What revenue segments are expected to report during the forecast period?
Market Report Coverage – AR in Agriculture
- Application: Outdoor Farming (Precision Agriculture and Smart Farming, Livestock Monitoring, Simulated Training, and Weather Tracking and Forecasting) and Indoor Farming
- Solution: Hardware, Software, and Service
Market Growth Drivers
- AR Adoption in the Midst of Digitization
- Growing Necessity to Increase Efficiency in Farm Operations
- Increased Demand for Spatial Computing Applications
- Limited Focus on Agriculture Applications
- Health and Safety Issues Related to Immersive Reality
- Technology Related Challenges
- Lack of Standardization
- Growth in Adoption of Precision Farming and Smart Farming Methods
- Growing Demand for Mobile-Based AR and VR Platforms
Key Companies Profiled
- Grow Glide
- EON Reality
- Think Digital
- Nedap N.V.
- 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 Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ynj8tw
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