The global Variable Rate Technology (VRT) market size was USD 6.50 Billion in 2021 and is expected to register a revenue CAGR of 13.2% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of advanced technologies in agriculture variable rate to reduce labor cost is a key factor driving market revenue growth of. Variable Rate Technology (VRT) is a tool or system that allows varying rate of crop inputs, such as fertilizers and crop protection chemicals, based on sensed or mapped crop characteristics. Automation is the obvious choice for majority of farmers as technology advances, becomes more affordable to purchase, and aid in increasing crop production around the world. In addition, both the trend toward local food consumption and desire for resource-saving measures are still on rise. Cost reduction is a crucial strategy for advancing the sector, given industry’s narrow margins.
A recent trend in the market is monitoring of crop yield for higher profit, hence fully understand how to maximize a field’s profit, yield monitors are crucial. Crop yield monitoring converts mental map they have into a digital format so they can use it to their advantage. The objective is to collaborate with farmer to continuously enhance management strategy from season to season through variable rate applications.
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The Global Variable Rate Technology Market Research Report added to its expanding repository is an all-inclusive document containing insightful data about the Variable Rate Technology market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the Variable Rate Technology industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2030.
Key Highlights in the Report
The hardware segment accounted for largest revenue share in 2021. Variable-Rate Application (VRA) in agriculture is an area of technology that focuses on automated use of products in a specific setting. Various pieces of gear, including sensors, GPS, and maps, are employed depending on data they receive. To strike the correct balance, VRT is a fantastic tool. Farmers can utilize precision agriculture technology to direct automated and variable application of seeds, fertilizer, and chemical applications to their fields using information about their activities that has been obtained.
The Fertilizer VRT segment accounted for a largest revenue share in 2021. Using a variable-rate fertilizer application, different sections of field can get fertilizer applications at various rates. Distribution of fertilizer will depend on anticipated yield, soil fertility, and other variables that may have an impact such as topography, soil texture, electrical conductivity, soil nutrients, and moisture content. All occupations exhibit heterogeneity. Within the same field, there are always differences in fertility of soil and yields, while in certain cases, yield disparities between several plots in a single field have reached to 400%.
The cereals & grains segment accounted for largest revenue share in 2021. Fact that cereals and grains are the most common crop type farmed globally is anticipated to support expansion of this market sector. FAO predicts a 7-million-ton increase in global cereal production to 2 792 million tons in 2022. FAO projects that volume of grain commerce worldwide will increase by 4.8 million tons to 468 million tons in 2022–2023.
The Map-based VRT segment accounted for largest revenue share in 2021. Map-based VRT is the process of drawing a map of immediate vicinity and entering it into system before the system is used. This map-based approach uses maps of previously measured objects and can be used in a variety of contexts.
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Emergen Research has segmented the global VRT market based on offering, type, crop type, application method, and region:
Offering Outlook (Revenue, USD Billion; 2019-2030)
Guidance & Steering Systems
Flow & Application Control Devices
Farm Operation Services
Integration & Consulting Services
Type Outlook (Revenue, USD Billion; 2019-2030)
Crop Protection Chemical VRT
Other VRT Types
Crop Type Outlook (Revenue, USD Billion; 2019-2030)
Cereals & Grains
Other Cereals & Grains
Oilseeds & Pulses
Other Oilseeds & Pulses
Fruits & Vegetables
Application Method Outlook (Revenue, USD Billion; 2019-2030)
The report also studies the key companies of the Variable Rate Technology market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Key players include
Deere & Company,
CNH Industrial N.V.,
Valmont Industries, Inc.
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Objectives of the Report:
Study of the global Variable Rate Technology market size by key regions, types, and applications with reference to historical data (2019-2020) and forecast (2022-2030)
Industrial structure analysis of the Variable Rate Technology market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Variable Rate Technology market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Variable Rate Technology market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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