The growing population and increased demand for food led to the mechanization of various agricultural practices during the 1940s and 1980s, known as The Green Revolution, which helped in transforming the entire agriculture industry. This revolution influenced the adoption of agrichemicals, hybrid crops, machines, and various other advanced forms of agricultural tools and feeds. The Green Revolution helped in increasing agricultural efficiency, decreased operational wastage, and aided in improving food security.
Read Report Overview: Augmented Reality in Agriculture Market
In the current situation, it can be concluded that AR technologies are currently at a very early stage of adoption and are yet to be properly developed for agricultural practices. However, the majority of their deployment is in manufacturing sectors such as automobiles, aviation machinery, and other related industries. Basic industries such as agriculture are still very far from getting completely digitized as a very small number of farms globally have deployed digital technologies into their operations.
AR in Agriculture Industry Overview
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.
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. 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. These farming techniques offer a wide range of benefits over commercial farming techniques. One of the primary advantages of these techniques is the ability to grow a wide range of products throughout the year, which was missing in conventional farming.
AR in Agriculture Market by 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. It is also one of the leading consumer electronics markets, which has helped shape a positive consumer outlook toward 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 for their consumers to experience their products in real life without needing a physical machine.
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Key Market Players
Augmenta, 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.