Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Augmented Reality in Agriculture Market - A Global and Regional Analysis: Focus on Product, Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global augmented reality in agriculture market was valued at $0.84 million in 2021 and is projected to reach $4.89 million by 2027, growing at a CAGR of 34.49% during the forecast period 2022-2027. The market is primarily in its emerging stage, and it is expected to be driven by the increasing demand for food, increasing population, trend of digitalization in the industry (Industry 4.0) and agriculture (Agriculture 4.0), need for simulated training, and precise field monitoring.
Market Lifecycle Stage
The augmented reality in agriculture market is still in the early stages. The technology is yet to be properly explored for applications in agriculture. It finds its wide application in other industries, such as gaming, entertainment, healthcare, retail, and manufacturing.
Impact
With an increased worldwide focus on achieving digitization, industrialization, and sustainability, the shift to smart farming tools provides opportunities for companies to invest in technologically advanced tools.
Currently, the shift to digitization is more prominent in precision agriculture, smart farming, artificial intelligence, the Internet of Things (IoT), and big data analytics, among others. The market is dominating in regions such as North America and Europe. This is attributed to the technological advancements and developments in equipment to enhance farming operations along with wider adaptability and technical knowledge among the farmers.
Market Segmentation
Segmentation 1: by Application
- Indoor Farming
- Outdoor Farming
Segmentation 2: by Solution
- Hardware
- Software
- Service
Segmentation 3: 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
Demand - Drivers and Limitations
Following are the demand drivers for the augmented reality in agriculture market:
- Digitization Powering the Next Green Revolution - Agriculture 4.0
- AR as a Tool for Field Monitoring
- Increased Demand for Spatial Computing Applications
Following are the challenges for the augmented reality in agriculture market:
- Lack of Awareness
- Limited R&D and Lack of Use-Cases of Agricultural Applications
Key Market Players
Company Type 1: Livestock Monitoring-Based Companies
- Nedap Livestock Management
Company Type 2: Simulated Training-Based Companies
- AMAZONEN-WERKE H. DREYER SE & Co. KG
- CLAAS KGaA GmbH
- EON Reality
- Vaderstad Group
Company Type 3: Outdoor Crop Farming-Based Companies
- Augmenta
- Grow Glide, LLC
- Plant Vision
- Visual Logic, LLC
- Anarky labs
Company Type 4: Integrated Application-Based Companies
- Rams Creative Technologies Pvt. Ltd.
- Program-Ace
- Think Digital
Key Topics Covered:
1 Markets
2 Application
3 Products
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/mkil87
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