AR in Agriculture Market (Component - Hardware, and Software; Application - Outdoor, and Indoor; End Users - Farmers and Farming Enterprises, Research Institutions, Government Agricultural Agencies, Farm Equipment Manufacturers, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on AR in agriculture market provides in-depth analysis of segments and sub-segments in the global as well as regional AR in agriculture market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional AR in agriculture market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global AR in agriculture market.

Market Insight:

The revenue generated by the AR in agriculture market was USD 1.32 billion in 2022 and is expected to reach USD 14.97 billion in 2030 and is expected to grow with a CAGR of 30.95% till 2030.

AR (Augmented Reality) in agriculture refers to the use of AR technology to enhance various aspects of agriculture, including crop management, livestock monitoring, and field operations. By 2050, the global population is projected to reach a staggering 10 billion, a fivefold increase from the 1.8 billion recorded in 1915 (World Bank). This demographic surge indicates that the demand for food will nearly double by the same year, posing a significant challenge for agriculture. In response to this escalating demand, Augmented Reality (AR) in agriculture emerges as a promising solution. The mounting pressure on farmers due to the increased need for food has created considerable distress within the agricultural community. Farmers are ardently hoping for better days, recognizing the potential consequences of failing to meet the surging food demand. Potential repercussions include starvation, increased mortality rates, and heightened political unrest. Consequently, a transformative shift in agriculture becomes imperative to address these challenges and secure a sustainable future. AR in agriculture offers a range of benefits, including improved accuracy, increased efficiency, and enhanced decision-making capabilities. One of the primary applications of AR in agriculture is crop management, where AR can be used to monitor crop growth, detect diseases, and optimize fertilizer and water usage. With AR, farmers can visualize crop growth patterns, track the progress of individual plants, and receive real-time data on soil moisture, temperature, and other environmental factors. This enables farmers to make more informed decisions about crop management, leading to improved yields and reduced waste. Another area where AR in agriculture can be useful is livestock monitoring. With AR, farmers can remotely monitor the health and behavior of their animals, including tracking feeding and sleeping patterns, detecting early signs of illness, and identifying potential health issues. This allows farmers to provide timely interventions and improve the overall welfare of their livestock.

The global demand for food is rising, prompting farmers to seek innovative solutions to enhance productivity sustainably. Augmented Reality (AR) in agriculture emerges as a key technology addressing these challenges. By providing real-time data and visualizations, AR enables informed decision-making on crop management and resource allocation, fostering precision farming. Despite its potential benefits, the high cost of AR technology poses a significant obstacle to widespread adoption, especially for smaller-scale farmers. However, collaborations between manufacturers, farmers, and agricultural organizations offer a promising avenue to develop cost-effective AR applications tailored to the industry's needs. Such partnerships not only drive innovation but also facilitate shared investments, overcoming financial barriers and ensuring the integration of AR technology into global farming practices.

The AR in agriculture market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to hold a major share of the market. Agriculture contributes majorly to the economies of countries such as the USA and Mexico in North America and is already an established industry in the region. For instance, according to the U.S. Department of Agriculture, the agriculture industry contributed over USD 1.246 trillion to the GDP of the U.S. in 2021. This statistic explains the expansion of the agriculture industry in North America. Extensive agriculture is the commonly followed practice in the North America region. Also, the North America region has always been the pioneer of agricultural technologies in the world. Therefore, the use of AR technologies in agriculture is expected to grow exponentially in North America in the near future. Thus, the market for AR in agriculture in North America is expected to biggest as compared to other regions in the world. There are a number of companies such as Visual Logic, LLC, Trimble Inc., EON Reality Corporate Group, Augmenta, and others that are based in North America and are working on AR agriculture applications.

Report Scope of the AR in Agriculture Market:

Segment Covered

The report on global AR in agriculture market covers segments such as component, application, and end users. On the basis of component, the sub-markets include hardware, and software. On the basis of application, the sub-markets include outdoor, and indoor. On the basis of end users, the sub-markets include farmers and farming enterprises, research institutions, government agricultural agencies, farm equipment manufacturers, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Väderstad AB, Trimble Inc., Rams Creative Technologies Pvt. Ltd., EON Reality, Augmenta Agriculture Technologies P.C., Visartech Inc., QUEPPELIN, Nedap N.V., Vuzix, and Think Digital.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the AR in agriculture market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.