The AR in Agriculture Market is Expected to reach $4.43 million by 2026, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 37.4% during the forecast period from 2021 to 2026.
Augmented reality (AR) is a type of immersive technology that allows data and virtual objects to be relayed or overlayed on physical objects called display. Technologies such as advanced data analytics, the internet of things (IoT) and sensor-based technologies, and autonomous agricultural machinery are deployed simultaneously; however, these technologies have individual potential to operate independently. AR is expected to act as a tool in reshaping modern agricultural practices as it can combine other tools and technologies and bring all the information and data from the other individual technologies under a single platform.
The detailed study is a compilation of 50 Market Data Tables and 40 Figures spread through 146 Pages and in-depth TOC on
USP of the Report
• The report highlights not only the growing opportunities contemplated by the quantitative information, but it also reflects upon the grey areas or shortcomings of the market analysis through GAP analysis performed to create an adoption framework for AR in agriculture market.
• This framework also focuses on factors and remedies to overcome gaps. The report also analyses the impact of key external business factors through Porter’s Five Forces and PESTLE analysis.
According to this report, “Augmented reality is expected to play a significant role in the digitization process of agriculture. The growing adoption of precision and smart farming methods has proved that agriculture practices can be improved using technologies, which has significantly impacted the growth of AR in agriculture market. Although the market has huge potential, at the current stage, it lacks focus, especially from leading augmented reality developers, as these companies focus on other applications of augmented reality rather than agriculture. With the growing demand for digital technologies in agricultural practices, a greater number of companies are expected to invest and enter this market, which will eventually put a significant impact on market adoption and growth of AR in agriculture market.”
Key Companies Operating in the Market and Competition Landscape
Augmenta, Grow Glide, Eon Reality,Think Digital, Nedap N.V.,Plant Vision, Visual Logic, Rams Creative Technologies Pvt. Ltd., Queppelin Technology Solutions Private Limited
Since the market is at a growing stage and very few companies are active in the market, more focus is currently on R&D and experimentation rather than business or corporate strategies.
The competitive strength of the key players operating in the market highlights there are very few companies active in the market. These companies are divided into active companies, possible companies, and upcoming companies. Active companies have a product available for the agriculture industry. Possible companies are those which have AR as an offering, and they have been involved in some projects related to agriculture. These companies are Rams Creative Technologies Pvt. Ltd. (YeppAR), Queppelin Technology Solutions Private Limited, Visartech Inc., VSight UAB.
Market Segmentation of AR in Agriculture Market
Applications: The AR in agriculture market by application is majorly driven by indoor applications, such as vertical farming, hydroponics, aquaponics, and cannabis farming. As the population across the globe is increasing exponentially, the total supply of food must be increased; otherwise, food shortage could lead to serious socio-political issues. There are many indoor farming techniques such as vertical farming, aquaponics, hydroponics, and terrace farming.
Solutions: The AR in agriculture market by solution is dominated by the software segment, followed by the hardware segment. The augmented reality software is the most common method to deploy AR platforms. Majorly, the market is driven by handheld and mobile AR applications and web AR applications. The software segment has a huge influence from handheld and mobile devices applications. The handheld and mobile devices applications are very commonly used as they are very easy to deploy and do not require huge capital investments.
Region: North America is the leading region in agricultural technologies in terms of market adoption and development. North American countries are far ahead of the different regions, looking to implement various digital technologies beyond conventional farm machinery and services for efficient crop production. The region is one of the largest markets for the entire immersive reality ecosystem leading the world in terms of development due to the presence of market-leading AR development companies such as Microsoft and Google.
Key Questions Answered in the Report
• What is the expected AR in agriculture 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 farming applications?
• Which region is the largest market for the AR in agriculture market?
• What are the expected future scenario and the revenue generated by different regions and countries in the AR in agriculture market, such as North America, the U.K., Europe, Asia-Pacific and Japan, China, and the Rest-of-the-World?
• How are the adoption scenario, related opportunities, and challenges impacting the AR in agriculture market?
• What are the business dynamics of AR in agriculture, and what is their role in the market, including market drivers, restraints, and opportunities?
• How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
o Applications, including indoor farming and outdoor farming applications
Outdoor applications are further segmented into precision and smart farming, livestock monitoring, simulated training, weather tracking, and forecasting
o Solution Type, including hardware, software, services
o Region, including North America, the U.K., Europe, Asia-Pacific and Japan, China, and the Rest-of-the-World