As per Inkwood Research, the Global Augmented Reality in Agriculture Market is projected to register a CAGR of 31.12% in terms of revenue during the forecasting period of 2023-2032.
“Browse 40 Market Data Tables and 38 Figures spread over 165 Pages, along with an in-depth TOC on the Global Augmented Reality in Agriculture Market Forecast 2023-2032.”
Augmented reality is characterized as an interactive, enhanced representation of a real-world environment acquired via digital visual aspects, sounds, and other sensory stimulations through holographic technology.
Increasing Need for Spatial Computing Applications Drives Market Growth
AR technology, through the immersive e-learning environment, enables novice farmers to acquaint themselves with farming equipment. The technique also expedites remote collaboration in order to help train farmers on how to use complicated agriculture using visual means. In this regard, through the use of spatial computing, farmers can operate the equipment in real time, as if it were a part of the real world.
Indoor Farming Held Largest Market Share in 2022
Referred to as the substitute for conventional commercial farming methods and the future of urban agriculture, indoor farming provides a wide range of benefits over commercial farming techniques. Moreover, the various indoor farming techniques include vertical farming, hydroponics, terrace farming, and aquaponics. A key benefit of indoor farming is that the product may be cultivated close to the point of sale, thus lowering the supply chain as well as storage expenses and increasing revenues.
North America to be the Prominent Region by 2032
North America is projected to hold the highest revenue share across the forecasting years owing to significant investments in immersive technology by prominent United States firms. These investments aim to fuel the demand for augmented reality in the region, thus propelling the market’s growth.
Some of the leading companies operating in the global augmented reality in agriculture market include Grow Glide LLC, Plant Vision, Visual Logic LLC, etc.
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