Variable Rate Technology - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Variable Rate Technology Market is accounted for $1.44 billion in 2018 and is expected to reach $3.80 billion by 2027 growing at a CAGR of 11.4% during the forecast period. Increasing knowledge about the economic advantages of variable rate application implementation, increased availability of VRT, and rising adoption of digital technologies in the farming sector are the key factors driving the market growth. However, the lack of daily operational decision support may restrain the market growth.
Variable Rate Technology (VRT) can be defined as any tool or system that permits changing the rate of crop inputs such as fertilizers, and crop protection chemicals according to the sensed or mapped crop features.
By Crop Type, Cereals & Grains segment is likely to have a huge demand. The segment includes crops such as wheat and corn, which are extensively cultivated across the globe for food and use in animal feed. Wheat is among the most dominant crops grown worldwide and corn is widely used for animal feed. Thus, the use of VRT is the highest in this segment. By geography, North America is going to have a lucrative growth during the forecast period as the growth in automation and digitization of agriculture is providing new business models for this market.
Some of the key players profiled in the Variable Rate Technology Market include Kubota Corporation, Topcon Corporation, Deere & Company, Valmont Industries Inc, AG Leader Technology, Yara International ASA, Agco Corporation, Lindsay Corporation, CNH Industrial N.V., Trimble Inc, Raven Industries Inc, SZ DJI Technology Co Ltd, CropMetrics, Iteris Inc, Agribotix LLC, and Aquaspy Inc.
Farm Sizes Covered:
• Small Farms
• Mid-Size Farms
• Large Farms
• Seeding Variable Rate Technology
• Crop Protection Chemical Variable Rate Technology
• Irrigation Variable Rate Technology
• Soil Sensing Variable Rate Technology
• Fertilizer Variable Rate Technology
• Yield Monitor Variable Rate Technology
• Other Variable Rate Technology Types
Crop Types Covered:
• Fruits & Vegetables
• Oilseeds & Pulses
• Cereals & Grains
• Other Crop Types
• Sensor-based Variable Rate Technology
• Map-based Variable Rate Technology
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- 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
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