Variable Rate Technology Market Growth, Size, Trends, Challenges and Future Scope 2022-2032


Variable Rate Technology Market Growth, Size, Trends, Challenges and Future Scope 2022-2032: SPER Market Research

 Published: Dec-2022
 Author: SPER Analyst

Global Variable Rate Technology Market is projected to be worth USD 26.07 billion by 2032.

The agricultural variable rate technology market consists of sales of variable rate technology made by entities (organizations, lone proprietors, and partnerships). With a focus on the automated applications utilized in agriculture, this technological area deals with automated applications. Information about agriculture is gathered via sensors, maps, and GPS. Farmers can use a tool called Variable Rate Technology (VRT) to apply water, fertilizer, seed, and pesticides to different parts of a field at various rates. One can get more crop per acre of land while using less wasted material when they utilize VRT to apply the right number of fertilizers together with the right sowing rate.

The need for agricultural equipment and related technology has temporarily diminished due to the COVID-19 pandemic epidemic. Because VRT requires little employee involvement and labour prices are rising daily, the agriculture variable rate technology industry has recovered 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. COVID-19 has had a positive long-term impact on the target market since it helped farmers comprehend the financial benefits of investing in variable rate technology.

The Global Variable Rate Technology Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; AGCO Corporation, AgJunction, CNH Industrial NV, Deere & Company, Hexagon, Kubota Corporation, Lindsay Corporation, Topcon Corporation, Trimble Inc., Valmont Industries, Inc., Yara International.

SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment – By Component {Hardware (Guidance and Steering systems, Flow and Application Control Devices, GPS/DGPS Receivers, Handheld Mobile Devices/Computers, Yield Monitors, Others), Services (Farm Operation Service, Integration and Consultation Services), Software}, By Technology {Map-based, Sensor-based (Active Optical Sensor VRT, Drone-based VRT, Satellite-based VRT)}, By Crop Type {Cereals and Grains (Corn, Wheat, Others), Fruits and Vegetables, Oilseeds and Pulses (Soybeans, Cotton, Other), Others}, By Farm Size (Large Farms, Mid-Sized Farms, Small Farms), By Application {Fertilizers (Urea VRT, UAN VRT, NH3 VRT, Other VRT), Crop Protection Chemicals (Herbicides, Fungicides & Bactericides, Insecticides, Nematicides & Others), Soil Sensing, Yield Monitoring, Irrigation, Others}.

This report also provides the data for key regional segments of North America, Europe, Asia-Pacific and Rest of the World. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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