Agricultural Variable Rate Technology Market
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PUBLISHED: 2022 ID: SMRC21516
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Agricultural Variable Rate Technology Market Forecasts to 2028 – Global Analysis By Offering (Services, Hardware), Type (Yield Monitoring, Soil Sensing), Application, and By Geography

4.6 (36 reviews)
4.6 (36 reviews)
Published: 2022 ID: SMRC21516

This report covers the impact of COVID-19 on this global market
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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. 
              
              

 

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