Agricultural Variable Rate Technology Market
Agricultural Variable Rate Technology Market Forecasts to 2028 – Global Analysis By Offering (Services, Hardware), Type (Yield Monitoring, Soil Sensing), Application, and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $6.54 BN |
|
Projected Year Value (2028) |
US $17.61 BN |
|
CAGR (2021 - 2028) |
15.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Agricultural Variable Rate Technology Market is accounted for $6.54 billion in 2021 and is expected to reach $17.61 billion by 2028 growing at a CAGR of 15.2% during the forecast period. Variable-rate technology is a system that allows varying the rate of crop inputs such as fertilizers, and crop protection chemicals based on the sensed or mapped crop characteristics. It is used to assist the variable rate application of resources in precision agriculture.
Market Dynamics:
Driver:
Technological advancements in agriculture variable rate
The traditional agriculture sector is dependent on laborers for many activities. With technological developments, automation is replacing the task of laborers and allowing the key players to achieve high output in less time. Many government organizations, economists, and policymakers are working in favor of agricultural technological developments. Technologies utilized for agriculture variable rates not only help to reduce the labor cost but also utilize resources in the greatest possible way and minimize wastage, which is higher in traditional farming techniques.
Restraint:
High costs
The technologies and equipment utilized in agriculture variable rate, including smart sensors, drones, VRT, GPS, GNSS, guidance tools, and receivers, are extremely efficient but costly. Also, skilled personnel is needed to set up and work on agriculture variable rate equipment. Therefore, in developing with limited resources for agriculture practices, growers opt for traditional farming rather than new technology-based farming because of the requirement of high investments.
Opportunity:
Variable rate technology services provided by leading market players
Variable-rate technology services include farm operation services and integration and services. These services include farm mapping, soil and moisture management, agronomist services, and others that are being provided by different companies. The entry of leading agriculture variable rate technology players in developing economies has played a major role in driving the agriculture variable rate technology market. The market players provide variable rate technology services on a contractual basis, with periodic monthly or quarterly charges. The presence of such services in developing economies helps in improving the awareness of the benefits of agriculture variable rate technologies.
Threat:
Lack of standardization
Agriculture variable rate technologies are still under development and need a high level of knowledge before execution. Agriculture variable rate devices utilize several interfaces, technologies, and protocols. The lack of standardization of these communication interfaces and protocols may result in data misrepresentation. In addition, the lack of technological standardization complicates the integration of systems and hinders the optimum data representation. Most equipment manufacturers utilize their interface communication protocols, which may lead to compatibility issues with other manufacturing brands.
The fertilizers segment is expected to be the largest during the forecast period
The fertilizers segment is estimated to have a lucrative growth as it is essential to apply nutrients and water according to site-specific conditions to account for spatial and temporal variations; this thereby enhances yields with increased efficiency of application and reduced environmental impacts. The increasing price of crop inputs is driving the demand for the precision application of various farm inputs among which fertilizers are one of the major farm inputs for the healthy crop.
The cereals and grains segment is expected to have the highest CAGR during the forecast period
The cereals and grains segment is anticipated to witness the fastest CAGR growth during the forecast period as cereals and grains are the largest crop type that is being harvested globally. Cereals such as corn and wheat have the highest adoption among various crop type as these are majorly grown on large farms. Variable-rate technologies can be utilized in cereals & grains for a number of purposes like improving plant health by matching fertilizer rates with soil fertility levels, reducing environmental impacts including water runoff, and nutrient loss from fields owing to leaching or runoff.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to increasing automation and digitization of agriculture creation of new business models, growing adoption of various crops, and rising availability of the variable rate treatment application services in the United States. This region is the key exporter of various agricultural products; the region is dominated by large-scale farm operations, which primary focus on exports is the major driver for the market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to large farmlands and a high population growth rate in this particular region. Moreover, cereals and grains are the largest crop type that is being harvested in this region. Population expansion in the region’s developing countries is mounting pressure on the agriculture industry to increase productivity, fueling the demand for the market.
Key players in the market
Some of the key players profiled in the Agricultural Variable Rate Technology Market include Yara International, Valmont Industries, Inc, Trimble, Inc, AGCO Corporation, The Climate Corporation, SZ DJI Technology Co., Ltd., AgJunction, Kubota Corporation, Hexagon, Deere & Company, CNH Industrial NV, Teejet Technologies, Lindsay Corporation, AG Leader Technology and Topcon Corporation.
Key Developments:
In December 2021, Kubota Corporation signed an agreement with Bloomfield Robotics, which is a company that delivers plant growth monitoring services to tree crops. The company uses image analysis technology and Artificial Intelligence (AI) to assess plant growth and detect pests on grape, blueberry, and other tree crops. This will promote the transition to smart agriculture on tree crop farms by building an alliance with Bloomfield through investments.
In August 2021, Deere & Company acquired Bear Flag Robotics. The acquisition accelerates the development and delivery of automation and autonomy on the farm and supports John Deere’s long-term strategy to create smarter machines with advanced technology to support individual customer needs.
Farm Sizes Covered:
• Small
• Medium
• Large
Offerings Covered:
• Services
• Software
• Hardware
Types Covered:
• Yield Monitoring
• Seeding Variable Rate Technology
• Irrigation Variable Rate Technology
• Fertilizer Variable Rate Technology
• Crop Protection Chemical Variable Rate Technology
• Soil Sensing
Application Methods Covered:
• Map-based Variable Rate Technology
• Sensor-based Variable Rate Technology
Crop Types Covered:
• Fruits & Vegetables
• Oilseeds & Pulses
• Cereals and Grains
Applications Covered:
• Crop Protection Chemicals
• Fertilizers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Agricultural Variable Rate Technology Market, By Farm Size
5.1 Introduction
5.2 Small
5.3 Medium
5.4 Large
6 Global Agricultural Variable Rate Technology Market, By Offering
6.1 Introduction
6.2 Services
6.2.1 Integration & Consultation Services
6.2.2 Farm Operation Services
6.3 Software
6.4 Hardware
6.4.1 Guidance and Steering Systems
6.4.2 Yield Monitors
6.4.3 Handheld Mobile Devices/Computers
6.4.4 Global Positioning System/Differential Global Positioning System (DGPS) Receivers
6.4.5 Flow and Application Control Devices
6.4.6 Sensors
6.4.6.1 Soil Sensors
6.4.6.2 Nutrient Sensors
6.4.6.3 Moisture Sensors
6.4.7 Displays
7 Global Agricultural Variable Rate Technology Market, By Type
7.1 Introduction
7.2 Yield Monitoring
7.3 Seeding Variable Rate Technology
7.4 Irrigation Variable Rate Technology
7.5 Fertilizer Variable Rate Technology
7.5.1 NH3 Variable Rate Technology
7.5.2 Urea Ammonium Nitrate (UAN) Variable Rate Technology
7.5.3 Urea Variable Rate Technology
7.6 Crop Protection Chemical Variable Rate Technology
7.7 Soil Sensing
8 Global Agricultural Variable Rate Technology Market, By Application Method
8.1 Introduction
8.2 Map-based Variable Rate Technology
8.3 Sensor-based Variable Rate Technology
8.3.1 Satellite-based Variable Rate Technology
8.3.2 Drone-based Variable Rate Technology
8.3.3 Active Optical Sensor Variable Rate Technology
9 Global Agricultural Variable Rate Technology Market, By Crop Type
9.1 Introduction
9.2 Fruits & Vegetables
9.3 Oilseeds & Pulses
9.3.1 Cotton
9.3.2 Soybeans
9.4 Cereals and Grains
9.4.1 Wheat
9.4.2 Corn
10 Global Agricultural Variable Rate Technology Market, By Application
10.1 Introduction
10.2 Crop Protection Chemicals
10.2.1 Nematicides
10.2.2 Insecticides
10.2.3 Herbicides
10.2.4 Fungicides & Bactericides
10.3 Fertilizers
10.3.1 Liquid Fertilizers
10.3.2 Organic Fertilizers
10.3.2.1 Manures
10.3.2.2 Biofertilizers (Biologicals)
10.3.3 Specialty Fertilizers
10.3.3.1 Enhanced Efficiency Fertilizers
10.3.3.1.1 Slow and Controlled Release
10.3.3.1.2 Nitrogen Stabilizers
10.3.3.1.2.1 Urease Inhibitors
10.3.3.1.2.2 Nitrification Inhibitors
10.3.3.2 Micronutrients
10.3.3.2.1 Chelated Micronutrients
10.3.3.2.2 Non-Chelated Micronutrients
10.3.3.3 Water Soluble Fertilizers
10.3.3.4 Specialty Compounds
10.3.3.4.1 Potash Compounds
10.3.3.4.2 Phosphate Compounds
10.3.3.4.3 Nitrogen Compounds
11 Global Agricultural Variable Rate Technology Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Yara International
13.2 Valmont Industries, Inc
13.3 Trimble, Inc
13.4 AGCO Corporation
13.5 The Climate Corporation
13.6 SZ DJI Technology Co., Ltd.
13.7 AgJunction
13.8 Kubota Corporation
13.9 Hexagon
13.10 Deere & Company
13.11 CNH Industrial NV
13.12 Teejet Technologies
13.13 Lindsay Corporation
13.14 AG Leader Technology
13.15 Topcon Corporation
List of Tables
1 Global Agricultural Variable Rate Technology Market Outlook, By Region (2020-2028) ($MN)
2 Global Agricultural Variable Rate Technology Market Outlook, By Farm Size (2020-2028) ($MN)
3 Global Agricultural Variable Rate Technology Market Outlook, By Small (2020-2028) ($MN)
4 Global Agricultural Variable Rate Technology Market Outlook, By Medium (2020-2028) ($MN)
5 Global Agricultural Variable Rate Technology Market Outlook, By Large (2020-2028) ($MN)
6 Global Agricultural Variable Rate Technology Market Outlook, By Offering (2020-2028) ($MN)
7 Global Agricultural Variable Rate Technology Market Outlook, By Services (2020-2028) ($MN)
8 Global Agricultural Variable Rate Technology Market Outlook, By Integration & Consultation Services (2020-2028) ($MN)
9 Global Agricultural Variable Rate Technology Market Outlook, By Farm Operation Services (2020-2028) ($MN)
10 Global Agricultural Variable Rate Technology Market Outlook, By Software (2020-2028) ($MN)
11 Global Agricultural Variable Rate Technology Market Outlook, By Hardware (2020-2028) ($MN)
12 Global Agricultural Variable Rate Technology Market Outlook, By Guidance and Steering Systems (2020-2028) ($MN)
13 Global Agricultural Variable Rate Technology Market Outlook, By Yield Monitors (2020-2028) ($MN)
14 Global Agricultural Variable Rate Technology Market Outlook, By Handheld Mobile Devices/Computers (2020-2028) ($MN)
15 Global Agricultural Variable Rate Technology Market Outlook, By Global Positioning System/Differential Global Positioning System (DGPS) Receivers (2020-2028) ($MN)
16 Global Agricultural Variable Rate Technology Market Outlook, By Flow and Application Control Devices (2020-2028) ($MN)
17 Global Agricultural Variable Rate Technology Market Outlook, By Sensors (2020-2028) ($MN)
18 Global Agricultural Variable Rate Technology Market Outlook, By Displays (2020-2028) ($MN)
19 Global Agricultural Variable Rate Technology Market Outlook, By Type (2020-2028) ($MN)
20 Global Agricultural Variable Rate Technology Market Outlook, By Yield Monitoring (2020-2028) ($MN)
21 Global Agricultural Variable Rate Technology Market Outlook, By Seeding Variable Rate Technology (2020-2028) ($MN)
22 Global Agricultural Variable Rate Technology Market Outlook, By Irrigation Variable Rate Technology (2020-2028) ($MN)
23 Global Agricultural Variable Rate Technology Market Outlook, By Fertilizer Variable Rate Technology (2020-2028) ($MN)
24 Global Agricultural Variable Rate Technology Market Outlook, By NH3 Variable Rate Technology (2020-2028) ($MN)
25 Global Agricultural Variable Rate Technology Market Outlook, By Urea Ammonium Nitrate (UAN) Variable Rate Technology (2020-2028) ($MN)
26 Global Agricultural Variable Rate Technology Market Outlook, By Urea Variable Rate Technology (2020-2028) ($MN)
27 Global Agricultural Variable Rate Technology Market Outlook, By Crop Protection Chemical Variable Rate Technology (2020-2028) ($MN)
28 Global Agricultural Variable Rate Technology Market Outlook, By Soil Sensing (2020-2028) ($MN)
29 Global Agricultural Variable Rate Technology Market Outlook, By Application Method (2020-2028) ($MN)
30 Global Agricultural Variable Rate Technology Market Outlook, By Map-based Variable Rate Technology (2020-2028) ($MN)
31 Global Agricultural Variable Rate Technology Market Outlook, By Sensor-based Variable Rate Technology (2020-2028) ($MN)
32 Global Agricultural Variable Rate Technology Market Outlook, By Satellite-based Variable Rate Technology (2020-2028) ($MN)
33 Global Agricultural Variable Rate Technology Market Outlook, By Drone-based Variable Rate Technology (2020-2028) ($MN)
34 Global Agricultural Variable Rate Technology Market Outlook, By Active Optical Sensor Variable Rate Technology (2020-2028) ($MN)
35 Global Agricultural Variable Rate Technology Market Outlook, By Crop Type (2020-2028) ($MN)
36 Global Agricultural Variable Rate Technology Market Outlook, By Fruits & Vegetables (2020-2028) ($MN)
37 Global Agricultural Variable Rate Technology Market Outlook, By Oilseeds & Pulses (2020-2028) ($MN)
38 Global Agricultural Variable Rate Technology Market Outlook, By Cotton (2020-2028) ($MN)
39 Global Agricultural Variable Rate Technology Market Outlook, By Soybeans (2020-2028) ($MN)
40 Global Agricultural Variable Rate Technology Market Outlook, By Cereals and Grains (2020-2028) ($MN)
41 Global Agricultural Variable Rate Technology Market Outlook, By Wheat (2020-2028) ($MN)
42 Global Agricultural Variable Rate Technology Market Outlook, By Corn (2020-2028) ($MN)
43 Global Agricultural Variable Rate Technology Market Outlook, By Application (2020-2028) ($MN)
44 Global Agricultural Variable Rate Technology Market Outlook, By Crop Protection Chemicals (2020-2028) ($MN)
45 Global Agricultural Variable Rate Technology Market Outlook, By Nematicides (2020-2028) ($MN)
46 Global Agricultural Variable Rate Technology Market Outlook, By Insecticides (2020-2028) ($MN)
47 Global Agricultural Variable Rate Technology Market Outlook, By Herbicides (2020-2028) ($MN)
48 Global Agricultural Variable Rate Technology Market Outlook, By Fungicides & Bactericides (2020-2028) ($MN)
49 Global Agricultural Variable Rate Technology Market Outlook, By Fertilizers (2020-2028) ($MN)
50 Global Agricultural Variable Rate Technology Market Outlook, By Liquid Fertilizers (2020-2028) ($MN)
51 Global Agricultural Variable Rate Technology Market Outlook, By Organic Fertilizers (2020-2028) ($MN)
52 Global Agricultural Variable Rate Technology Market Outlook, By Specialty Fertilizers (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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