Product Code: GVR-4-68039-997-4
Variable Rate Technology Market Growth & Trends:
The global variable rate technology market size is anticipated to reach USD 10.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 12.3% over the forecast period. Variable Rate Technology (VRT) is a tool that allows farmers to apply water, fertilizer, seed, and chemicals at different and suitable rates across a field. When a producer uses VRT to apply the correct amount of nutrients blended with the ideal seeding rate, they can produce more agricultural produce from every acre of the land and also reduce the wastage of input materials. Produce can be maximized by customizing each field zone's seeding and crop nutrition applications.
The fertility profile of different field areas is checked and applied with complementary seed, fertilizer, and irrigation applications; these pairings are known as prescriptions. The variable rate technology market has a vast scope for expansion. To realize this potential farm operation services, integration services, and other services are included. Numerous global businesses offer these services, including farm mapping, soil and moisture management, boundary mapping, and others. Companies such as Trimble, Inc. offer variable rates hardware technologies such as planting solutions, application control products, and displays, guidance systems, among others.
Due to its various inclusive features of variable rate technology, including crop health monitoring, data security, data administration, and stock management, the variable rate technology software market are predicted to expand significantly in the coming years. The variable-rate hardware solutions, including GPS/DGPS receivers, portable computers, sensors, and yield monitor systems, made up about half of the market for VRT offerings in 2021. The COVID-19 pandemic outbreak temporarily decreased demand for expensive agricultural machinery and related technology. The agriculture variable rate technology business picked up quickly post-pandemic. Due to the severe labor scarcity during the pandemic, which adversely affected the agriculture sector, the farmers were compelled to deploy agriculture-related technologies rather than depending on the workforce.
It remains challenge the industry is expected to face is data privacy and security. The key players in the market are focusing on new product development to increase their market share. For instance, the XAG P40 Agricultural Drone, a new generation of agricultural drones specifically created for smallholder farms, was introduced in February 2021 by the agricultural machinery manufacturer XAG, based in China.
The XAG P40 Agricultural Drone can carry up to 40 kilograms and cover up to 20 hectares in an hour. It is designed for big field areas. This aids in defending a huge expanse of land from pests, diseases, and weeds. The medium-to-large farm owners have hugely benefitted from the product. In December 2021, NX9, a software suite that delivers ISOBUS applications and core technologies for agricultural equipment and corresponding intellectual property rights, was acquired by CNH Industrial N.V. This acquisition builds upon the company's strategic momentum to efficiently develop and innovate products in the precision agriculture space and provide superior value for its farming clients.
Variable Rate Technology Market Report Highlights:
- Variable Rate Technology is gaining traction owing to the fast adoption of cutting-edge technology to lower labor costs in agriculture across the globe
- The hardware segment dominated the market in 2021 with a market share of about 69.87%. Guidance and Steering systems are the largest sub-segment of a hardware component in revenue
- The service segment is anticipated to witness a CAGR of 14.3% during the forecast period. The farm operation services sub-segment generated the highest revenue in 2021 in the service segment, accounting for USD 258.1 million. There is a growing demand for climate information, analytics, and data services
- The map-based technology segment contributed to more than half of the market revenue of technology component in 2021 as satellites are mainly used for farm mapping because they provide accurate results within a limited time, and the segment is anticipated to grow at a CAGR of 11.3% over the forecast period
- Cereals & Grains are the most grown crops, and therefore contributed to the highest revenue share in the year 2021, and is anticipated to register a CAGR of 12.8% over a forecast period.
- In August 2021, Bear Flag Robotics was acquired by Deere & Company. The agreement complements John Deere's goal to produce more intelligent machines with cutting-edge technology to fulfill unique client requirements, accelerate the farming sector, development and delivery of automation and autonomy
Table of Contents
Chapter 1 Methodology And Scope
- 1.1 Research Methodology
- 1.2 Research Scope And Assumptions
- 1.3 List of Data Sources
- 1.4 List of Abbreviations
Chapter 2 Executive Summary
- 2.1 Market Insights
- 2.2 Market Snapshot
- 2.3 Segmental Insights
- 2.4 Variable Rate Technology Market Revenue Estimates, 2017 - 2030
Chapter 3 Market Variables, Trends, & Scope Outlook
- 3.1 Market Segmentation
- 3.2 Variable Rate Technology Market Size & Growth Prospects
- 3.3 Variable Rate Technology Market - Value Chain Analysis
- 3.4 Variable Rate Technology Market Dynamics
- 3.4.1 Market Driver Analysis
- 3.4.2 Market Restraint Analysis
- 3.4.3 Market Opportunity Analysis
- 3.5 Variable Rate Technology Penetration & Growth Prospects Mapping
- 3.6 Variable Rate Technology Market - Porter's Five Forces Analysis
- 3.6.1 Supplier Power
- 3.6.2 Buyer Power
- 3.6.3 Substitution Threat
- 3.6.4 Threat From New Entrant
- 3.6.5 Competitive Rivalry
- 3.7 Variable Rate Technology Market - PEST Analysis
- 3.7.1 Political Landscape
- 3.7.2 Economic Landscape
- 3.7.3 Social Landscape
- 3.7.4 Technology Landscape
- 3.8 COVID-19 Impact Analysis
Chapter 4 Variable Rate Technology Market Component Outlook
- 4.1 Variable Rate Technology Market, By Component Analysis & Market Share, 2021 & 2030
- 4.2 Hardware
- 4.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.2 Guidance And Steering Systems
- 4.2.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.3 Flow And Application Control Devices
- 4.2.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.4 GPS/ DGPS Receivers
- 4.2.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.5 Handheld Mobile Devices/Computers
- 4.2.5.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.6 Yield Monitors
- 4.2.6.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.2.7 Others
- 4.2.7.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.3 Software
- 4.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4 Services
- 4.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4.2 Farm Operation Services
- 4.4.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4.3 Integration & Consultation Services
- 4.4.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 5 Variable Rate Technology Market Technology Outlook
- 5.1 Variable Rate Technology Market, By Technology Analysis & Market Share, 2021 & 2030
- 5.2 Map-Based
- 5.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.3 Sensor-Based
- 5.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.3.2 Active Optical Sensor VRT
- 5.3.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.3.3 Drone-Based VRT
- 5.3.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.3.4 Satellite-Based VRT
- 5.3.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 6 Variable Rate Technology Market Crop Type Outlook
- 6.1 Variable Rate Technology Market, By Crop Type Analysis & Market Share, 2021 & 2030
- 6.2 Cereals & Grains
- 6.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.2.2 Corn
- 6.2.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.2.3 Wheat
- 6.2.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.2.4 Others
- 6.2.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.3 Fruits & Vegetables
- 6.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4 Oilseeds & Pulses
- 6.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4.2 Soybeans
- 6.4.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4.3 Cotton
- 6.4.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4.4 Others
- 6.4.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.5 Commercial Crops
- 6.5.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 7 Variable Rate Technology Market Farm Size Outlook
- 7.1 Variable Rate Technology Market, By Farm Size Analysis & Market Share, 2021 & 2030
- 7.2 Large Farms
- 7.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.3 Mid-Size Farms
- 7.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4 Small Farms
- 7.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 8 Variable Rate Technology Market Application Outlook
- 8.1 Variable Rate Technology Market, By Application Analysis & Market Share, 2021 & 2030
- 8.2 Fertilizers
- 8.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.2.2 Urea VRT
- 8.2.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.2.3 UAN VRT
- 8.2.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.2.4 NH3 VRT
- 8.2.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.2.5 Other VRT
- 8.2.5.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.3 Crop Protection Chemicals
- 8.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.3.2 Herbicides
- 8.3.2.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.3.3 Fungicides & Bactericides
- 8.3.3.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.3.4 Insecticides
- 8.3.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.3.5 Nematicides And Others
- 8.3.5.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.4 Soil Sensing
- 8.4.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.5 Yield Monitoring
- 8.5.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.6 Irrigation
- 8.6.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.7 Others
- 8.7.1 Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 9 Variable Rate Technology Market: Regional Estimates & Trend Analysis
- 9.1 Variable Rate Technology Market Share By Region, 2021 & 2030
- 9.2 North America
- 9.2.1 Market Estimates And Forecasts, 2017 - 2030
- 9.2.2 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.2.3 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.2.4 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.2.5 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.2.6 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.2.7 U.S.
- 9.2.7.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.2.7.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.2.7.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.2.7.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.2.7.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.2.8 Canada
- 9.2.8.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.2.8.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.2.8.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.2.8.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.2.8.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.2.9 Mexico
- 9.2.9.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.2.9.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.2.9.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.2.9.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.2.9.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.3 Europe
- 9.3.1 Market Estimates And Forecasts, 2017 - 2030
- 9.3.2 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.3.3 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.3.4 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.3.5 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.3.6 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.3.7 Germany
- 9.3.7.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.3.7.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.3.7.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.3.7.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.3.7.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.3.8 U.K.
- 9.3.8.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.3.8.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.3.8.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.3.8.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.3.8.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.3.9 France
- 9.3.9.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.3.9.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.3.9.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.3.9.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.3.9.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.3.10 Italy
- 9.3.10.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.3.10.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.3.10.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.3.10.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.3.10.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.4 Asia Pacific
- 9.4.1 Market Estimates And Forecasts, 2017 - 2030
- 9.4.2 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.4.3 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.4.4 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.4.5 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.4.6 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.4.7 China
- 9.4.7.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.4.7.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.4.7.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.4.7.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.4.7.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.4.8 Japan
- 9.4.8.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.4.8.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.4.8.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.4.8.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.4.8.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.4.9 India
- 9.4.9.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.4.9.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.4.9.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.4.9.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.4.9.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.4.10 Australia
- 9.4.10.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.4.10.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.4.10.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.4.10.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.4.10.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.5 South America
- 9.5.1 Market Estimates And Forecasts, 2017 - 2030
- 9.5.2 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.5.3 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.5.4 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.5.5 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.5.6 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.5.7 Brazil
- 9.5.7.1 Market Estimates And Forecasts, By Component, 2017 - 2030 (USD Million)
- 9.5.7.2 Market Estimates And Forecasts, By Technology, 2017 - 2030 (USD Million)
- 9.5.7.3 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (USD Million)
- 9.5.7.4 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (USD Million)
- 9.5.7.5 Market Estimates And Forecasts, By Application, 2017 - 2030 (USD Million)
- 9.6 Middle East & Africa
- 9.6.1 Market Estimates And Forecasts, 2017 - 2030
- 9.6.2 Market Estimates And Forecasts, By Component, 2017 - 2030 (Usd Million)
- 9.6.3 Market Estimates And Forecasts, By Technology, 2017 - 2030 (Usd Million)
- 9.6.4 Market Estimates And Forecasts, By Crop Type, 2017 - 2030 (Usd Million)
- 9.6.5 Market Estimates And Forecasts, By Farm Size, 2017 - 2030 (Usd Million)
- 9.6.6 Market Estimates And Forecasts, By Application, 2017 - 2030 (Usd Million)
Chapter 10 Competitive Analysis
- 10.1 Recent Developments and Impact Analysis, by Key Market Participants
- 10.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging, Niche Players)
- 10.3 Vendor Landscape
- 10.3.1 Key Company Market Share Analysis, 2021
- 10.4 Company Analysis Tools
- 10.4.1 Market Position Analysis
- 10.4.2 Competitive Dashboard Analysis
Chapter 11 Competitive Landscape
- 11.1 Company Profiles
- 11.2 Trimble Inc.
- 11.2.1 Company Overview
- 11.2.2 Financial Performance
- 11.2.3 Type Benchmarking
- 11.2.4 Strategic Initiatives
- 11.3 Deere & Company
- 11.3.1 Company Overview
- 11.3.2 Financial Performance
- 11.3.3 Type Benchmarking
- 11.3.4 Strategic Initiatives
- 11.4 AGCO Corporation (US)
- 11.4.1 Company Overview
- 11.4.2 Type Benchmarking
- 11.4.3 Strategic Initiatives
- 11.5 Topcon Corporation
- 11.5.1 Company Overview
- 11.5.2 Financial Performance
- 11.5.3 Type Benchmarking
- 11.5.4 Strategic Initiatives
- 11.6 CNH Industrial NV
- 11.6.1 Company Overview
- 11.6.2 Financial Performance
- 11.6.3 Type Benchmarking
- 11.6.4 Strategic Initiatives
- 11.7 Kubota Corporation
- 11.7.1 Company Overview
- 11.7.2 Financial Performance
- 11.7.3 Type Benchmarking
- 11.7.4 Strategic Initiatives
- 11.8 Yara International
- 11.8.1 Company Overview
- 11.8.2 Financial Performance
- 11.8.3 Type Benchmarking
- 11.8.4 Strategic Initiatives
- 11.9 Valmont Industries, Inc
- 11.9.1 Company Overview
- 11.9.2 Financial Performance
- 11.9.3 Type Benchmarking
- 11.9.4 Strategic Initiatives
- 11.10 Lindsay Corporation
- 11.10.1 Company Overview
- 11.10.2 Financial Performance
- 11.10.3 Type Benchmarking
- 11.10.4 Strategic Initiatives
- 11.11 Hexagon
- 11.11.1 Company Overview
- 11.11.2 Financial Performance
- 11.11.3 Type Benchmarking
- 11.11.4 Strategic Initiatives
- 11.12 Ag Junction
- 11.12.1 Company Overview
- 11.12.2 Type Benchmarking
- 11.12.3 Strategic Initiatives