Global Augmented Reality in Agriculture Market 2021
- Market Report
- ID: NAR891GB
- Delivery Time: 1 Business Day
- Tag: Augmented Reality in Agriculture
Market Overview
The global market for augmented reality in agriculture experienced a value of $0.84 million in 2021 and is projected to reach $4.89 million by 2027, with a CAGR of 34.49% during the forecast period from 2022 to 2027. This market is still in its emerging stage and is expected to be driven by several factors including the increasing demand for food due to a growing population, the trend of digitalization in the industry and agriculture sectors (Industry 4.0 and Agriculture 4.0), the need for simulated training, and precise field monitoring.
The world’s population is rapidly expanding and is expected to continue growing in the future. By 2050, it is predicted to reach 10 billion people. As the population increases, so does the demand for resources, particularly food. To meet this demand, farmers will need to double their grain production. Achieving such levels of productivity will require the adoption of contemporary technologies that can assist farmers in meeting these food requirements. Augmented reality (AR) is a technology that overlays visual, audio, or other sensory data onto the physical world, enhancing the user’s experience. AR images can be displayed on various devices such as glasses, goggles, headsets, or heads-up displays like helmet visors. The most popular way to use AR currently is through smartphones, tablets, and handheld devices in apps and games.
Product Type | Market Report |
---|---|
No. of Pages | 144 |
Release Date | October 2022 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Market Size | USD 4.9 Mn incremental growth between 2021 and 2026 |
Market Segments | Application, Solution, Region |
Region | Global |
No. of Companies Mentioned | 13 |
While augmented reality has found widespread application in industries such as gaming, entertainment, healthcare, retail, and manufacturing, its potential in the agriculture sector is still being explored. The market for augmented reality in agriculture is still in its early stages. As the focus shifts towards digitization, industrialization, and sustainability globally, there are opportunities for companies to invest in technologically advanced tools for smart farming.
Currently, there is a significant emphasis on digitization in precision agriculture, smart farming, artificial intelligence, the Internet of Things (IoT), and big data analytics. The market is predominantly dominated by regions like North America and Europe, which have seen technological advancements and developments in equipment to enhance farming operations. Furthermore, farmers in these regions possess a higher level of technical knowledge and adaptability.
The demand drivers for the augmented reality in agriculture market include the push for digitization in Agriculture 4.0, augmented reality as a tool for field monitoring, and the increased demand for spatial computing applications.
However, there are challenges that need to be addressed for the augmented reality in agriculture market to reach its full potential. These challenges include a lack of awareness about the technology among farmers, limited research and development efforts focusing on agricultural applications of augmented reality, and a lack of successful use cases in the industry.
Market Segmentation
The market is segmented based on various factors, including application, solution, and region.
Segmentation by Application
Indoor Farming
Outdoor Farming
Segmentation by Solution
Hardware
Software
Service
Segmentation by Region
North America – U.S., Canada, and Mexico
Europe – Germany, France, Netherlands, Italy, and Rest-of-Europe
U.K.
Asia-Pacific – Japan, India, Australia and New Zealand, and Rest-of-Asia-Pacific
China
Rest-of-the-World – South America and Middle East and Africa
The indoor farming segment is expected to dominate the global augmented reality in agriculture market. This is due to the advancements in technology and investments in hydroponics and aquaponics, as well as the higher adoption among farmers with greater technical awareness. Augmented reality has applications in various industries, including gaming, entertainment, healthcare, manufacturing, and agriculture. In agriculture, augmented reality is categorized into indoor farming and outdoor farming, which encompasses precision agriculture, smart farming, livestock monitoring, simulated training, and weather tracking.
Among these applications, indoor farming had the largest share in 2021 and is expected to continue leading the market from 2022 to 2027. The outdoor farming segment is projected to have a higher growth rate during this period, driven by the increasing demand for precision agriculture and smart farming techniques.
In terms of components, the software segment accounted for the largest share in the global augmented reality in agriculture market in 2021. This can be attributed to its higher penetration in handheld and mobile devices. The hardware segment, including AR headsets, smart glasses, and heads-up displays, is expected to experience the highest growth rate. This is driven by the growing applications of spatial computing, field monitoring, quick decision-making, and increased deployment of dedicated AR hardware in pilot projects.
North America dominated the global market in 2021 and is projected to maintain its dominance throughout the forecast period. This is primarily due to the region’s extensive research and development activities, substantial adoption of AR and other digital technologies, and large land sizes that allow for greater investment potential. In contrast, developing countries face limitations in terms of farm sizes and profit margins, which restrict their ability to invest. Additionally, the ongoing trend of digital transformation is significantly impacting market growth.
Competitive Landscape
The selection of profiled companies was made based on inputs received from primary experts, as well as an analysis of factors including company coverage, product portfolio, and market penetration.
The market is populated by various players specializing in different applications, such as livestock monitoring, simulated training, outdoor crop farming, and integrated applications. As of 2022, companies focusing on livestock monitoring applications accounted for 7.69% presence in the market, simulated training applications held a 30.76% presence, outdoor crop farming applications had a 38.46% presence, and integrated application-based companies held a 23.07% presence in the market.
Key companies profiled in this report include Nedap Livestock Management, AMAZONEN-WERKE H. DREYER SE & Co. KG, CLAAS KGaA GmbH, EON Reality, Väderstad Group, Augmenta, Grow Glide, LLC, Plant Vision, Visual Logic, LLC, Anarky labs, Rams Creative Technologies Pvt. Ltd., Program-Ace, Think Digital.
Recent Industry Developments
In June 2022, Rams Creative Technologies Pvt. Ltd. announced its new collaboration with Microsoft’s Mixed Reality Program (MRPP). This partnership initiative was established by Microsoft to engage with companies that specialize in the design, development, and implementation of mixed reality and augmented reality solutions for enterprise applications.
In January 2022, Augmenta and Arva Intelligence joined forces in a strategic partnership aimed at delivering affordable automation solutions tailored for farming operations, environmental improvements, and carbon offsetting.
In January 2022, Deere & Company expanded its 2022 Startup Collaborator Program by incorporating seven additional companies. Initially launched in 2019, this program aims to foster closer relationships between John Deere and startup ventures whose technologies offer potential value for customers. Among the participants in the Startup Collaborator Program is ViewAR GmbH, an augmented reality-based company.
In October 2021, CATALYST and T-REX formed a partnership with the objective of organizing events that promote interaction and awareness between professionals in the geospatial and agribusiness sectors. The focal areas of these events encompassed unmanned aerial vehicles (UAVs), augmented reality/virtual reality (AR/VR), and related fields. Through this collaboration, T-REX gained the support of CATALYST to expand its Geo-Seed Grant program, enabling the provision of financial resources for initiatives that emphasize the integration of geospatial technology and sustainable agriculture.
Key Questions Answered
What is the projected revenue size of the global augmented reality in agriculture market for the forecast period 2022-2027, and what is the anticipated compound annual growth rate (CAGR) during the forecast period 2022-2027?
What are the primary market drivers and opportunities associated with augmented reality in agriculture?
What are the main constraints that impede the growth of the global augmented reality in agriculture market?
For each segment, what is the estimated revenue and growth percentage expected during the forecast period?
Which types of players and stakeholders are present in the augmented reality in agriculture market ecosystem, and what is their significance in the global market?
How do technologies such as precision farming, artificial intelligence (AI), 5G communication, and the Internet of Things (IoT) contribute to the growth of the augmented reality in agriculture market?
What are the major patents filed in this field?
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