Global Variable Rate Technology (VRT) Market, By Product (Soil Sensing VRT, Fertilizer VRT, Seeding VRT, Crop Protection Chemical VRT, Yield Monitor VRT, Irrigation VRT, Other), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others), Farm Size (Large Farms, Small Farms, Mid-Size Farms), Offering (Hardware, VRT Service, VRT Software), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Variable Rate Technology (VRT) Market
Variable rate technology (VRT) market size is valued at USD 3.10 billion by 2028 and is expected to expand at a compound annual growth rate of 9.50% over the forecast period of 2021 to 2028. The favorable government initiative is the factor for the variable rate technology (VRT) market in the forecast period of 2021 to 2028.
Variable rate technology (VRT) allocates any technology which facilitates makers to vary the rate of yield inputs. It is used to assist variable rate application (VRA) of resources in precision agriculture. VRT technology allows lime, fertilizer, chemicals, gypsum, irrigation water and farm inputs to relate at various rates across a field, without physically changing rate settings on apparatus or having to make numerous passes over an area.
The variable rate technology (VRT) market is likely to gain growth, due to the better efficiency and productivity through improved crop yields and field quality. Also the growing favorable government initiative for the adoption of modern agricultural techniques is expected to drive the market for variable rate technology (VRT) over the forecast period of 2021 to 2028. Moreover factors such as the various government regulations, enhanced efficiency & productivity and with the enhanced crop yields with increase in average age of farmers in developed regions are the key determinants fueling the growth of the target market. However, the high initial capital investment and dearth of technical awareness and understanding regarding advantages of VRT over traditional agricultural practices will curb the growth of the variable rate technology (VRT) market in the above mentioned forecast period, whereas the lack of data management practices for productive utilization of VRT in agriculture have the potential to challenge the growth of growth of the target market. Moreover, the rapid increase in average age of farmers in developed countries is also projected to thrust the use of variable rate technology (VRT) in the forecast period.
In addition, the incorporation of smartphones with agricultural hardware and software applications will accelerate various growth opportunities that will enhance the growth of the variable rate technology (VRT) market in the forecast period of 2021 to 2028.
This variable rate technology (VRT) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on variable rate technology (VRT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Variable Rate Technology (VRT) Market Scope and Market Size
Variable rate technology (VRT) market is segmented on the basis of product, crop type, farm size and offering. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the variable rate technology (VRT) market is segmented into soil sensing VRT, fertilizer VRT, seeding VRT, crop protection chemical VRT, yield monitor VRT, irrigation VRT and other.
- Based on crop type, the variable rate technology (VRT) market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables and others. Cereals and grains have further been segmented into corn, wheat and others. Oilseeds and pulses have further been segmented into soybean, cotton and others.
- On the basis of farm size, the variable rate technology (VRT) market is segmented into large farms, small farms and mid-size farms.
- The variable rate technology (VRT) market is also segmented on the basis of offering into hardware, VRT service and VRT software. Hardware is further segmented into GPS/DGPS receivers, handheld computers, sensors, yield monitors and others. VRT service is further segmented into farm operation services, integration and consulting services and others.
Variable Rate Technology (VRT) Market Country Level Analysis
Variable rate technology (VRT) market is analyses and market size, volume information is provided by country, product, crop type, farm size and offering as referenced above.
The countries covered in the variable rate technology (VRT) market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America leads the variable rate technology (VRT) market because of the rapid increase in automation and digitization of agriculture in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the large farmlands and a high population growth rate in this particular region.
The country section of the variable rate technology (VRT) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Variable Rate Technology (VRT) Market Share Analysis
Variable rate technology (VRT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to variable rate technology (VRT) market.
The major players covered in the variable rate technology (VRT) report are Crop Quest, Inc., Ag Leader Technology, Deere & Company, AGCO Corporation, CROPMETRICS, Trimble Inc., Topcon, Raven Industries, Inc., Lindsay Corporation, Yara, AgJunction, The Climate Corporation, DJI, TeeJet Technologies, Sentera, Inc., AquaSpy Home – AquaSpy, KUBOTA Corporation, Valmont Industries, Inc., 360 Yield Center, and Iteris, Inc., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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