Augmented Reality in Agriculture Market to Grow due to Growing Demand for Precision Agriculture

FREMONT, Calif. - Oct. 13, 2021 - PRLog -- The world population is growing rapidly, and the global population is expected to reach 10 billion in 2057. This is expected to increase the demand for food. To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions in the farming arena. These solutions are focused on helping farmers to fill the supply-demand gap by ensuring high yield, increased profit, and protection of the environment.

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The approach of using information technology (IT), digital technologies, precision algorithms, and sensors to ensure optimum utilization of resources in order to achieve high crop yields and reduced operational costs is called smart farming. Smart farming agriculture technologies comprise specialized equipment, software, and IT services. Augmented reality (AR) is one of the technologies that could be utilized to increase overall efficiency in the agriculture industry. It can be deployed in integration with other technologies such as automated machinery, the Internet of things (IoT), predictive analytics, artificial intelligence (AI), and precision algorithms. Apart from the growing demand for food, there are several other microeconomic factors that are expected to contribute to the growth of AR in the agriculture market.

The ongoing trend of digital transformation is pushing the development of technologies, such as augmented reality (AR) and virtual reality (VR), digital twin, and computer vision. All these technologies play a major role in digitization efforts globally. Increased emphasis on spatial computing applications and technologies is also a key factor in the adoption of AR in various applications. The agriculture industry is witnessing a massive shift in which basic agricultural practices are integrated with digital technologies such as AR.

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China is expected to register the highest growth rate during the forecast period 2021-2026. This is due to ongoing efforts to digitize every industry, which will also benefit the agricultural industry. Apart from that, in 2020, the Chinese government announced to invest $1.4 trillion in digital transformation and digital infrastructural development over a period of five years till 2025.