Global Variable Rate Technology Market Overview
According to SPER Market Research, the Global Variable Rate Technology Market is estimated to reach USD 26.07 billion by 2032 with a CAGR of 13.42%.
The agricultural variable rate technology market consists of sales of agricultural variable rate technology made by organizations, individuals, 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 rising usage of these cutting-edge agricultural solutions has increased the growth opportunities for VRT suppliers. Competitors can improve their positions in the agriculture variable rate market by taking advantage of technological advancements in the machinery used to increase output. The automation of farming practices will increase as technology advances. The use of VRT will rise with the use of sensors, images, control systems, data management, big data, and AI, supporting new rivals in gaining a footing in the market.
Impact of COVID-19 on the Global Variable Rate Technology Market
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 labor prices are rising daily, the agriculture variable rate technology industry has recovered since the epidemic. The pandemic's acute labor 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. Western Europe and North America are home to the majority of agriculture technology companies. These areas were severely affected by COVID-19, and economic activity was at its lowest point as a result of the temporary shutdown and quarantine measures taken to combat the fatal COVID-19 epidemic.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Component, By Technology, By Crop Type, By Farm Size, By Application |
| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | AGCO Corporation, AgJunction, CNH Industrial NV, Deere & Company, Hexagon, Kubota Corporation, Lindsay Corporation, Topcon Corporation, Trimble Inc., Valmont Industries, Inc., Yara International |
Target Audience:
- Growers or farmers
- Agriculture variable rate technology manufacturers
- OEMS
- Component suppliers
- Dealers
- Service providers
- Government and Research Organizations
- Associations
- Regulatory bodies
Global Variable Rate Technology Market Segmentation:
1. 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
2. By Technology:
- Map-based
- Sensor-based
- Active Optical Sensor VRT
- Drone-based VRT
- Satellite-based VRT
3. By Crop Type:
- Cereals and Grains
- Corn
- Wheat
- Others
- Fruits and Vegetables
- Oil seeds and Pulses
- Soybeans
- Cotton
- Other
- Others
4. By Farm Size:
- Large Farms
- Mid-Sized Farms
- Small Farms
5. 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
6. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- South America
Key Topics Covered in the Report:- Size of Global Variable Rate Technology Market (FY’2019-FY’2032)
- Overview of Global Variable Rate Technology Market
- Segmentation of Global Variable Rate Technology Market By Component (Hardware,Services, Software)
- Segmentation of Global Variable Rate Technology Market By Technology (Map-based, Sensor-based)
- Segmentation of Global Variable Rate Technology Market By Crop Type (Cereals and Grains,Fruits and Vegetables, Oilseeds and Pulses, Others)
- Segmentation of Global Variable Rate Technology Market By Farm Size (Large Farms, Mid-Sized Farms, Small Farms)
- Segmentation of Global Variable Rate Technology Market By Application (Fertilizers, Crop Protection Chemicals, Soil Sensing, Yield Monitoring, Irrigation, Others)
- Statistical Snap of Global Variable Rate Technology Market
- Growth Analysis of Global Variable Rate Technology Market
- Problems and Challenges in Global Variable Rate Technology Market
- Competitive Landscape in the Global Variable Rate Technology Market
- Impact of COVID-19 and Demonetization on Global Variable Rate Technology Market
- Details on Recent Investment in Global Variable Rate Technology Market
- Competitive Analysis of Global Variable Rate Technology Market
- Major Players in the Global Variable Rate Technology Market
- SWOT Analysis of Global Variable Rate Technology Market
- Global Variable Rate Technology Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Variable Rate Technology Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Variable Rate Technology Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Variable Rate Technology Market
7. Global Variable Rate Technology Market, By Component, 2019-2032 (USD Million)
7.1 Hardware
7.1.1 Guidance and Steering systems
7.1.2 Flow and Application Control Devices
7.1.3 GPS/DGPS Receivers
7.1.4 Handheld Mobile Devices/Computers
7.1.5 Yield Monitors
7.1.6 Others
7.2 Services
7.2.1 Farm Operation Service
7.2.2 Integration and Consultation Services
7.3 Software
8. Global Variable Rate Technology Market, By Technology, 2019-2032 (USD Million)
8.1 Map-based
8.2 Sensor-based
8.2.1 Active Optical Sensor VRT
8.2.2 Drone-based VRT
8.2.3 Satellite-based VRT
9. Global Variable Rate Technology Market, By Crop Type, 2019-2032 (USD Million)
9.1 Cereals and Grains
9.1.1 Corn
9.1.2 Wheat
9.1.3 Others
9.2 Fruits and Vegetables
9.3 Oilseeds and Pulses
9.3.1 Soybeans
9.3.2 Cotton
9.3.3 Other
9.4 Others
10. Global Variable Rate Technology Market, By Farm Size, 2019-2032 (USD Million)
10.1 Large Farms
10.2 Mid-Sized Farms
10.3 Small Farms
11. Global Variable Rate Technology Market, By Application, 2019-2032 (USD Million)
11.1 Fertilizers
11.1.1 Urea VRT
11.1.2 UAN VRT
11.1.3 NH3 VRT
11.1.4 Other VRT
11.2 Crop Protection Chemicals
11.2.1 Herbicides
11.2.2 Fungicides & Bactericides
11.2.3 Insecticides
11.2.4 Nematicides & Others
11.3 Soil Sensing
11.4 Yield Monitoring
11.5 Irrigation
11.6 Others
12. Global Variable Rate Technology Market, By Region, 2019-2032 (USD Million)
12.1 Global Variable Rate Technology Size and Market Share by Region (2019-2025)
12.2 Global Variable Rate Technology Size and Market Share by Region (2026-2032)
12.3 Asia-Pacific
12.3.1 Australia
12.3.2 China
12.3.3 India
12.3.4 Japan
12.3.5 South Korea
12.3.6 Rest of Asia-Pacific
12.4 Europe
12.4.1 France
12.4.2 Germany
12.4.3 Italy
12.4.4 Spain
12.4.5 United Kingdom
12.4.6 Rest of Europe
12.5 Middle East & Africa
12.5.1 Kingdom of Saudi Arabia
12.5.2 United Arab Emirates
12.5.3 Rest of Middle East & Africa
12.6 North America
12.6.1 Canada
12.6.2 Mexico
12.6.3 United States
12.7 South America
12.7.1 Argentina
12.7.2 Brazil
12.7.3 Rest of South America
13. Company Profiles
13.1 AGCO Corporation
13.1.1 Company details
13.1.2 Financial outlook
13.1.3 Product summary
13.1.4 Recent developments
13.2 AgJunction
13.2.1 Company details
13.2.2 Financial outlook
13.2.3 Product summary
13.2.4 Recent developments
13.3 CNH Industrial NV
13.3.1 Company details
13.3.2 Financial outlook
13.3.3 Product summary
13.3.4 Recent developments
13.4 Deere & Company
13.4.1 Company details
13.4.2 Financial outlook
13.4.3 Product summary
13.4.4 Recent developments
13.5 Hexagon
13.5.1 Company details
13.5.2 Financial outlook
13.5.3 Product summary
13.5.4 Recent developments
13.6 Kubota Corporation
13.6.1 Company details
13.6.2 Financial outlook
13.6.3 Product summary
13.6.4 Recent developments
13.7 Lindsay Corporation
13.7.1 Company details
13.7.2 Financial outlook
13.7.3 Product summary
13.7.4 Recent developments
13.8 Topcon Corporation
13.8.1 Company details
13.8.2 Financial outlook
13.8.3 Product summary
13.8.4 Recent developments
13.9 Trimble Inc.
13.9.1 Company details
13.9.2 Financial outlook
13.9.3 Product summary
13.9.4 Recent developments
13.10 Valmont Industries, Inc.
13.10.1 Company details
13.10.2 Financial outlook
13.10.3 Product summary
13.10.4 Recent developments
13.11 Yara International
13.11.1 Company details
13.11.2 Financial outlook
13.11.3 Product summary
13.11.4 Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
