PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324321
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324321
Variable Rate Technology Market Forecasts to 2030 - Global Analysis By Type, Crop Type, Component, Farm Size, Technology, Application and By Geography
According to Stratistics MRC, the Global Variable Rate Technology Market is accounted for $8.6 billion in 2023 and is expected to reach $23.2 billion by 2030 growing at a CAGR of 15.2% during the forecast period. The agricultural variable rate technology market is made up of company sales of this technology. With a focus on the automated applications utilised in agriculture, this technological area deals with automated applications. Information about agriculture is gathered via sensors, maps, and GPS. Farmers can use a gadget called Variable Rate Technology (VRT) to apply water, fertiliser, seed, and pesticides to different parts of a field at various rates. By tailoring the planting and crop nutrition solutions for each zone, they can take advantage of every opportunity.
According to USDA, over 60% of the United States' agricultural input dealers offer some kind of variable-rate technology services. Contrasting to this, less than 20% of the acreage is currently being managed using technology due to the relatively higher costs of gathering precise field data.
Market Dynamics:
Driver:
Increasing demand for workforce automation
The dramatic fall in the number of agricultural labourers is being replaced by an efficient technological solution to address the supply and demand imbalance in the farming industry. One of the main factors propelling the need for variable rate application technologies is also the growing labour shortage in the agricultural sector. The use of the variable rate technology mechanism results in a large decrease in overall labour costs by automating the application of pesticides, fertilisers, irrigation water, and other farm inputs at various rates across the field.
Restraint:
Lack of Standardization
A high level of understanding is needed before implementing variable rate farming methods, which are still in the early stages of development. Numerous interfaces, technologies, and protocols are used to integrate the full variable rate irrigation system; all of these elements must be in sync to prevent any technological hiccups. The market expansion may be hampered by the inaccurate data, which could result in the wasteful use of agricultural inputs and have a detrimental impact on crop output.
Opportunity:
Growing use of digital technology
Significant advancements in a variety of fields, including agriculture, have been made possible by innovation and technology. Some of the most recent technologies utilised in precision farming include sensing technologies, software applications, communication systems, data analytics tools, and positioning technology. Numerous technological advancements, like driverless vehicles, automated milking systems, and crop dusting drones, are creating significant and alluring potential for the expansion of precision agriculture.
Threat:
High costs of agriculture VRT equipment
Small, medium-sized, and large farms can all use the agriculture VRT, although huge farms are the ones that are mostly using it. Smart sensors, drones, VRT, GPS, GNSS, guidance tools, and receivers are only a few of the pricey but very effective technology and techniques utilised in agriculture variable rate. Due to the substantial investment required, producers in underdeveloped nations with limited resources for agricultural practises prefer traditional farming over innovative technology-based farming.
COVID-19 Impact:
The need for agricultural equipment and related technology has temporarily diminished due to the COVID-19 pandemic epidemic. Due to the low level of employee involvement required in VRT and the fact that labour prices are rising daily, the agriculture variable rate technology industry has rebounded since the epidemic. The pandemic's acute labour shortage, which had a negative impact on overall production, forced farmers to learn the benefits of investing in technologies rather than relying on workers. Using variable rate technology in agriculture is a great approach to get around these problems. It had a positive long-term impact on the target market by assisting farmers in comprehending the financial benefits of making an investment in variable rate technology.
The map-based segment is expected to be the largest during the forecast period
The map-based segment is estimated to have a lucrative growth. Map-based VRT adjusts the application rate using an electronic map, also referred to as a prescription map. As the applicator moves over the field, the input concentration is calculated using a prescription map of the planned speed and the field position from a GPS device. Some strategies rely on a variety of information sources, while others just use one. These systems must be able to locate the machine in the field and link its location to the desired application rate by scanning the prescription map.
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, owing to the crops that are harvested the most worldwide are grains and cereals. Cereals like wheat, corn, and rice have the highest rate of adoption among the many crop types because they are typically farmed on huge farms. VRT assists in reducing input utilisation, hence reducing negative environmental effects including soil erosion and deterioration as well as greenhouse gas emissions. VRT reduces input waste while assisting in increasing crop and land yield.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to extensive farmlands and rapid population expansion. Given the huge farmlands and rapid population increase, it is one of the potential markets for agriculture VRT. The need for Variable Rate Technologies is driven by the pressure the region's emerging nations' growing populations place on the agriculture sector to raise output.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increasing activities by key market players. Variable rate technology is gaining popularity as a result of a shortage of agricultural employees and increased input costs. In order to calculate the image of a field that a satellite would see if there were no clouds blocking its camera, the new "ClearSky" service feeds radar data into a deep neural network. Weather-dependent imaging, however, frequently experiences gaps of several weeks between clear images.
Key players in the market:
Some of the key players profiled in the Variable Rate Technology Market include: Topcon Corporation, Trimble, Inc., CNH Industrial N.V., Deere & Company, AGCO Corporation, Ageagle Aerial Systems, Lindsay Corporation, Raven Industries, Inc, AG Leader Technology, Valmont Industries, Inc., Yara International, Climate LLC, Farmers Edge Inc, Crop Quest Inc and Hexagon Agriculture.
Key Developments:
In June 2023, Yara International ASA today announced at the 4th World Intelligent Farming Summit, that the company is opening its AgTech portfolio up to third parties through the new agricultural API-solution, YaraFX Insight.
In Aprl 2023, Hexagon Agriculture division launches app and exhibits technologies for manufacturers and producers in Agrishow 2023. The trade show, considered the greatest agribusiness fair in Latin America, will take place this year from May 1 to May 5, in Ribeirao Preto/SP.
Types Covered:
- Crop Protection Chemical VRT
- Yield Monitoring
- Irrigation VRT
- Seeding VRT
- Fertilizer VRT
- Soil Sensing
- Other Types
Crop Types Covered:
- Fruits and Vegetables
- Oilseeds and Pulses
- Cereals and Grains
- Other Crop Types
Components Covered:
- Software
- Services
- Hardware
- Other Components
Farm Sizes Covered:
- Small Farms
- Mid-sized Farms
- Large farms
Technologies Covered:
- Sensor-based
- Map-based
- Other Technologies
Applications Covered:
- Crop Protection Chemicals
- Fertilizers
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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 2021, 2022, 2023, 2026, and 2030
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- 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 Technology Analysis
- 3.7 Application Analysis
- 3.8 Emerging Markets
- 3.9 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 Variable Rate Technology Market, By Type
- 5.1 Introduction
- 5.2 Crop Protection Chemical VRT
- 5.3 Yield Monitoring
- 5.4 Irrigation VRT
- 5.5 Seeding VRT
- 5.6 Fertilizer VRT
- 5.6.1 NH3 VRT
- 5.6.2 UAN VRT
- 5.6.3 Urea VRT
- 5.7 Soil Sensing
- 5.8 Other Types
6 Global Variable Rate Technology Market, By Crop Type
- 6.1 Introduction
- 6.2 Fruits and Vegetables
- 6.3 Oilseeds and Pulses
- 6.3.1 Cotton
- 6.3.2 Soybeans
- 6.4 Cereals and Grains
- 6.4.1 Corn
- 6.4.2 Wheat
- 6.5 Other Crop Types
7 Global Variable Rate Technology Market, By Component
- 7.1 Introduction
- 7.2 Software
- 7.3 Services
- 7.3.1 Integration and Consultation Services
- 7.3.2 Farm Operation Service
- 7.4 Hardware
- 7.4.1 Handheld Computers
- 7.4.2 Flow and Application Control Devices
- 7.4.3 Guidance and Steering systems
- 7.4.4 GPS/ DGPS Receivers
- 7.4.5 Yield Monitors
- 7.4.5 Sensors
- 7.4.5.1 Nutrient sensors
- 7.4.5.2 Soil sensors
- 7.4.5.3 Moisture sensors
- 7.4.6 Displays
- 7.5 Other Components
8 Global Variable Rate Technology Market, By Farm Size
- 8.1 Introduction
- 8.2 Small Farms
- 8.3 Mid-sized Farms
- 8.4 Large farms
9 Global Variable Rate Technology Market, By Technology
- 9.1 Introduction
- 9.2 Sensor-based
- 9.2.1 Drone-based VRT
- 9.2.2 Active Optical Sensor VRT
- 9.2.3 Satellite-based VRT
- 9.3 Map-based
- 9.4 Other Technologies
10 Global Variable Rate Technology Market, By Application
- 10.1 Introduction
- 10.2 Crop Protection Chemicals
- 10.2.1 Herbicides
- 10.2.2 Nematicides
- 10.2.3 Insecticides
- 10.2.4 Fungicides & Bactericides
- 10.3 Fertilizers
- 10.3.1 Specialty Fertilizers
- 10.3.1.1 Specialty compounds
- 10.3.1.1.1 Phosphate compounds
- 10.3.1.1.2 Nitrogen compounds
- 10.3.1.1.3 Potash compounds
- 10.3.1.2 Water soluble fertilizers
- 10.3.1.3 Enhanced efficiency fertilizers
- 10.3.1.3.1 Slow and controlled release
- 10.3.1.3.2 Nitrogen stabilizers
- 10.3.1.3.2.1 Nitrification inhibitors
- 10.3.1.3.2.2 Urease inhibitors
- 10.3.1.4 Micronutrients
- 10.3.1.4.1 Chelated micronutrients
- 10.3.1.4.2 Non-chelated micronutrients
- 10.3.2 Liquid Fertilizers
- 10.3.3 Organic Fertilizers
- 10.3.3.1 Manures
- 10.3.3.2 Biofertilizers
- 10.3.4 Other Fertilizers
- 10.3.1 Specialty Fertilizers
- 10.4 Other Applications
11 Global 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 Topcon Corporation
- 13.2 Trimble, Inc.
- 13.3 CNH Industrial N.V.
- 13.4 Deere & Company
- 13.5 AGCO Corporation
- 13.6 Ageagle Aerial Systems
- 13.7 Lindsay Corporation
- 13.8 Raven Industries, Inc
- 13.9 AG Leader Technology
- 13.10 Valmont Industries, Inc.
- 13.11 Yara International
- 13.12 Climate LLC
- 13.13 Farmers Edge Inc
- 13.14 Crop Quest Inc
- 13.15 Hexagon Agriculture
List of Tables
- Table 1 Global Variable Rate Technology Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Variable Rate Technology Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Variable Rate Technology Market Outlook, By Crop Protection Chemical VRT (2021-2030) ($MN)
- Table 4 Global Variable Rate Technology Market Outlook, By Yield Monitoring (2021-2030) ($MN)
- Table 5 Global Variable Rate Technology Market Outlook, By Irrigation VRT (2021-2030) ($MN)
- Table 6 Global Variable Rate Technology Market Outlook, By Seeding VRT (2021-2030) ($MN)
- Table 7 Global Variable Rate Technology Market Outlook, By Fertilizer VRT (2021-2030) ($MN)
- Table 8 Global Variable Rate Technology Market Outlook, By NH3 VRT (2021-2030) ($MN)
- Table 9 Global Variable Rate Technology Market Outlook, By UAN VRT (2021-2030) ($MN)
- Table 10 Global Variable Rate Technology Market Outlook, By Urea VRT (2021-2030) ($MN)
- Table 11 Global Variable Rate Technology Market Outlook, By Soil Sensing (2021-2030) ($MN)
- Table 12 Global Variable Rate Technology Market Outlook, By Other Types (2021-2030) ($MN)
- Table 13 Global Variable Rate Technology Market Outlook, By Crop Type (2021-2030) ($MN)
- Table 14 Global Variable Rate Technology Market Outlook, By Fruits and Vegetables (2021-2030) ($MN)
- Table 15 Global Variable Rate Technology Market Outlook, By Oilseeds and Pulses (2021-2030) ($MN)
- Table 16 Global Variable Rate Technology Market Outlook, By Cotton (2021-2030) ($MN)
- Table 17 Global Variable Rate Technology Market Outlook, By Soybeans (2021-2030) ($MN)
- Table 18 Global Variable Rate Technology Market Outlook, By Cereals and Grains (2021-2030) ($MN)
- Table 19 Global Variable Rate Technology Market Outlook, By Corn (2021-2030) ($MN)
- Table 20 Global Variable Rate Technology Market Outlook, By Wheat (2021-2030) ($MN)
- Table 21 Global Variable Rate Technology Market Outlook, By Other Crop Types (2021-2030) ($MN)
- Table 22 Global Variable Rate Technology Market Outlook, By Component (2021-2030) ($MN)
- Table 23 Global Variable Rate Technology Market Outlook, By Software (2021-2030) ($MN)
- Table 24 Global Variable Rate Technology Market Outlook, By Services (2021-2030) ($MN)
- Table 25 Global Variable Rate Technology Market Outlook, By Integration and Consultation Services (2021-2030) ($MN)
- Table 26 Global Variable Rate Technology Market Outlook, By Farm Operation Service (2021-2030) ($MN)
- Table 27 Global Variable Rate Technology Market Outlook, By Hardware (2021-2030) ($MN)
- Table 28 Global Variable Rate Technology Market Outlook, By Handheld Computers (2021-2030) ($MN)
- Table 29 Global Variable Rate Technology Market Outlook, By Flow and Application Control Devices (2021-2030) ($MN)
- Table 30 Global Variable Rate Technology Market Outlook, By Guidance and Steering systems (2021-2030) ($MN)
- Table 31 Global Variable Rate Technology Market Outlook, By GPS/ DGPS Receivers (2021-2030) ($MN)
- Table 32 Global Variable Rate Technology Market Outlook, By Yield Monitors (2021-2030) ($MN)
- Table 33 Global Variable Rate Technology Market Outlook, By Sensors (2021-2030) ($MN)
- Table 34 Global Variable Rate Technology Market Outlook, By Nutrient sensors (2021-2030) ($MN)
- Table 35 Global Variable Rate Technology Market Outlook, By Soil sensors (2021-2030) ($MN)
- Table 36 Global Variable Rate Technology Market Outlook, By Moisture sensors (2021-2030) ($MN)
- Table 37 Global Variable Rate Technology Market Outlook, By Displays (2021-2030) ($MN)
- Table 38 Global Variable Rate Technology Market Outlook, By Other Components (2021-2030) ($MN)
- Table 39 Global Variable Rate Technology Market Outlook, By Farm Size (2021-2030) ($MN)
- Table 40 Global Variable Rate Technology Market Outlook, By Small Farms (2021-2030) ($MN)
- Table 41 Global Variable Rate Technology Market Outlook, By Mid-sized Farms (2021-2030) ($MN)
- Table 42 Global Variable Rate Technology Market Outlook, By Large farms (2021-2030) ($MN)
- Table 43 Global Variable Rate Technology Market Outlook, By Technology (2021-2030) ($MN)
- Table 44 Global Variable Rate Technology Market Outlook, By Sensor-based (2021-2030) ($MN)
- Table 45 Global Variable Rate Technology Market Outlook, By Drone-based VRT (2021-2030) ($MN)
- Table 46 Global Variable Rate Technology Market Outlook, By Active Optical Sensor VRT (2021-2030) ($MN)
- Table 47 Global Variable Rate Technology Market Outlook, By Satellite-based VRT (2021-2030) ($MN)
- Table 48 Global Variable Rate Technology Market Outlook, By Map-based (2021-2030) ($MN)
- Table 49 Global Variable Rate Technology Market Outlook, By Other Technologies (2021-2030) ($MN)
- Table 50 Global Variable Rate Technology Market Outlook, By Application (2021-2030) ($MN)
- Table 51 Global Variable Rate Technology Market Outlook, By Crop Protection Chemicals (2021-2030) ($MN)
- Table 52 Global Variable Rate Technology Market Outlook, By Herbicides (2021-2030) ($MN)
- Table 53 Global Variable Rate Technology Market Outlook, By Nematicides (2021-2030) ($MN)
- Table 54 Global Variable Rate Technology Market Outlook, By Insecticides (2021-2030) ($MN)
- Table 55 Global Variable Rate Technology Market Outlook, By Fungicides & Bactericides (2021-2030) ($MN)
- Table 56 Global Variable Rate Technology Market Outlook, By Fertilizers (2021-2030) ($MN)
- Table 57 Global Variable Rate Technology Market Outlook, By Specialty Fertilizers (2021-2030) ($MN)
- Table 58 Global Variable Rate Technology Market Outlook, By Specialty compounds (2021-2030) ($MN)
- Table 59 Global Variable Rate Technology Market Outlook, By Phosphate compounds (2021-2030) ($MN)
- Table 60 Global Variable Rate Technology Market Outlook, By Nitrogen compounds (2021-2030) ($MN)
- Table 61 Global Variable Rate Technology Market Outlook, By Potash compounds (2021-2030) ($MN)
- Table 62 Global Variable Rate Technology Market Outlook, By Water soluble fertilizers (2021-2030) ($MN)
- Table 63 Global Variable Rate Technology Market Outlook, By Enhanced efficiency fertilizers (2021-2030) ($MN)
- Table 64 Global Variable Rate Technology Market Outlook, By Slow and controlled release (2021-2030) ($MN)
- Table 65 Global Variable Rate Technology Market Outlook, By Nitrogen stabilizers (2021-2030) ($MN)
- Table 66 Global Variable Rate Technology Market Outlook, By Nitrification inhibitors (2021-2030) ($MN)
- Table 67 Global Variable Rate Technology Market Outlook, By Urease inhibitors (2021-2030) ($MN)
- Table 68 Global Variable Rate Technology Market Outlook, By Micronutrients (2021-2030) ($MN)
- Table 69 Global Variable Rate Technology Market Outlook, By Chelated micronutrients (2021-2030) ($MN)
- Table 70 Global Variable Rate Technology Market Outlook, By Non-chelated micronutrients (2021-2030) ($MN)
- Table 71 Global Variable Rate Technology Market Outlook, By Liquid Fertilizers (2021-2030) ($MN)
- Table 72 Global Variable Rate Technology Market Outlook, By Organic Fertilizers (2021-2030) ($MN)
- Table 73 Global Variable Rate Technology Market Outlook, By Manures (2021-2030) ($MN)
- Table 74 Global Variable Rate Technology Market Outlook, By Biofertilizers (2021-2030) ($MN)
- Table 75 Global Variable Rate Technology Market Outlook, By Other Fertilizers (2021-2030) ($MN)
- Table 76 Global Variable Rate Technology Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
