The indoor farming applications of AR in agriculture market have the largest share and are expected to lead the application segment during the forecast period 2021-2026. The major demand for augmented reality is from indoor farming applications due to increased investments in the hydroponic and aquaponic industry along with the growing adoption of other digital technologies, which is also playing a huge role in the market.

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The software segment accounted for the largest share in AR in agriculture market due to higher penetration in the handheld and mobile segment in 2020, and it is expected to remain the same during the forecast period. The hardware segment is anticipated to witness the highest growth rate during the forecast period 2021-2026. This is mainly due to the growing applications for spatial computing in the industry and increased deployment of dedicated AR hardware in pilot projects.

North America dominated the AR in agriculture market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing research and development activities and large-scale adoption of AR along with various other digital technologies. Besides, the average land sizes in North America are huge compared to other regions such as the Asia-Pacific and Japan. Thus, farmers in the U.S. and Canada have massive revenues which they could invest. On the other hand, in developing countries, due to smaller farm sizes and overpopulation, farmers generate fewer profits margins which are eventually redeployed into the operations, limiting any possibilities of investments. Also, the ongoing trend for digital transformation is putting a significant impact on the market growth.

There are very few companies active in the market. These companies are divided into active companies, possible companies, and upcoming companies. Active companies have a product available for the agriculture industry; these companies are Augmenta, Grow Glide, Eon Reality, Think Digital, Nedap N.V., Plant Vision, Visual Logic, LLC. Possible companies are those which have AR as an offering, and they have been involved in some projects related to agriculture. These companies are Rams Creative Technologies Pvt. Ltd. (YeppAR), Queppelin Technology Solutions Private Limited, Visartech Inc., VSight UAB. The third type is upcoming companies, which have a high probability of entering the market for AR in agriculture. This includes Infosys Limited, Trimble Inc., Microsoft Corporation, Alphabet Inc., and Vuzix Corporation.

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The AR in agriculture market has a huge potential, and it is also positively impacted by the growing adoption of precision agriculture and smart farming methods. However, the market currently needs inter-organizational collaboration as well as involves farmers in the development process so that products and solutions can be designed and developed to address the challenges being faced by the farmers and the industry.

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