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The global augmented reality in agriculture market is estimated to reach over USD 25.33 billion by 2034, exhibiting a CAGR of 33.4% during the forecast period.
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The application of augmented reality (AR) in agriculture offers various use cases, including field inspections and the identification of pests or insects. It assists in determining the ideal crops for specific plots of land and provides valuable insights into current pest and agricultural conditions. These capabilities are significant drivers of the robust expansion of the global AR market in agriculture. It is anticipated that the increasing adoption of agricultural machinery and the expansion of AR infrastructure in the sector will further encourage the implementation of AR technology among farmers.
However, the agricultural industry faces challenges due to its reliance on advanced machinery and technology. To maximize crop yield and profitability, farmers must stay abreast of these technological developments. This growing demand for spatial computing applications presents substantial business opportunities for AR in agriculture, although its full potential has not yet been fully realized.
List of Prominent Players in the Augmented Reality in Agriculture Market:
• Neap Livestock Management
• AMAZONEN-WERKE H. DREYER SE & Co. KG
• CLAAS Ka GmbH
• EON Reality
• Verstand Group
• Augment
• Grow Glide, LLC
• Plant Vision
• Visual Logic, LLC
• Anarchy labs
• Rams Creative Technologies Pvt. Ltd.
• Program-Ace
• Think Digital"
Market Dynamics:
Drivers-
The COVID-19 pandemic led to labor shortages and disruptions in the supply chain, causing delays in overall production. Despite these challenges, the increased adoption of agricultural machinery and the expansion of augmented reality (AR) infrastructure in the sector are expected to drive the use of AR technology among farmers. As a result, the pandemic had a positive impact on the global augmented reality market in agriculture.
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Challenges:
A significant challenge to the widespread adoption of augmented reality technology in agriculture is the lack of awareness and understanding among farmers and other stakeholders in the industry. Many farmers may be unaware of the potential benefits and applications that AR could offer their operations.
Regional Trends:
North America is leading the global market for augmented reality in agriculture, largely due to substantial investments made by prominent U.S. companies in immersive technology to drive the region's demand for AR. This region is also home to several major agricultural original equipment manufacturers (OEMs), some of which have developed AR applications that allow users to interact with products digitally without the need for physical devices.
Additionally, the Asia Pacific region holds a significant market share, driven by the presence of both established companies and emerging startups in the augmented reality space, fostering competition and innovation. Strategic partnerships, government initiatives, and research and development efforts are contributing to the growth and advancement of the market in this region.
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Segmentation of Augmented Reality in Agriculture Market-
By Application
• Indoor Farming
• Outdoor Farming
By Solution
• Hardware
• Software
• Service
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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