Global Agricultural Variable Rate Technology Market (2022 to 2027) - Growing Adoption of Technologically Advanced Equipment and Tools in the Agriculture Industry Presents Opportunities
DUBLIN, June 14, 2022 /PRNewswire/ -- The "Global Agricultural Variable Rate Technology Market by Offering (Hardware, Software, Service), Type (Fertilizer Vrt, Crop Protection Vrt), Crop Type, Application Method, Farm Size, Application Fit and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global agriculture VRT market is estimated to be valued at USD 7.4 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 13.2% during the forecast period.
Asia Pacific is projected to witness the grow at CAGR of 16.0%
The Asia pacific region is projected to grow at the highest CAGR of 16.0% during the forecast period. The agriculture VRT market in each region has witnessed the development of many subsidiaries, business units, and research centers of key players and employs strategies to achieve strong research and distribution networks with regional players to withstand stiff competition and capture a significant market share.
Asia Pacific is one of fastest-growing markets for agri-tech. It is one of the prospective markets for agriculture VRT, as it has large farmlands and a high population growth rate. Asia Pacific has an extensive land area, which comprises countries such as China, Japan, India, South Korea, and Australia. Population expansion in the region's developing countries is mounting pressure on the agriculture industry to increase productivity, fueling the demand for VRT. Drones to plant seeds, and spray pesticides and fertilizers are growing in popularity in the Southeast Asian country as it grapples with a labour shortage that worsened during the coronavirus pandemic, with restrictions on workers' movement.
The map-based VRT segment dominates the market growing at a CAGR of 12.8%
The map-based VRT segment is the most widely used application method of agriculture VRT across the globe. Map-based VRT is popular majorly due to its cost effectiveness and lack of skilled farmers for operating sensor based VRT. There is huge cost involved for the sensor based VRT which makes farmers hesitant for using sensor-based VRT. However in developed countries such as US, Canada there is increase in the adoption of sensor-based VRT.
The variable rate hardware segment dominates the market with 50.4% of total market share in terms of value
On the basis of offering, the variable rate technology is categorized into hardware, VRT service and VRT software. The huge investment in Hardware such as Guidance and steering system witness the largest market share. The guidance and steering systems have the highest application in advanced economies and on large farm holdings to improve agriculture productivity. Farmers can use various hardware devices to collect farm-related data, which would help them make better decisions and increase the productivity of their lands and crops.
Rapid adoption of advanced technologies in agriculture variable rate to reduce labor cost
The adoption of advanced technologies is helping farmers to cover a large area of their fields in less time and more efficiently. Agriculture variable rate is an advanced farming technique involving cutting-edge technologies that enable farmers to increase productivity and minimize labour costs. Remote sensing technology helps to monitor and manage land, water, and other resources. In the next 10 years, advanced technologies in agriculture variable rate are expected to gain momentum and reduce the need for and costs associated with manual labour.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Agriculture Vrt Market
4.2 Agriculture Vrt Market, by Type
4.3 North American Agriculture Variable Rate Technology Market, by Region & Offering
4.4 Agriculture Vrt Market, by Application Method
4.5 Country-Wise Analysis of the Agriculture Vrt Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid Adoption of Advanced Technologies in Agriculture Variable Rate to Reduce Labor Cost
5.2.1.2 Improved Efficiency and Productivity Through Improved Crop Yields and Field Quality
5.2.1.3 Increase in the Average Age of Farmers in Developed Countries
5.2.2 Restraints
5.2.2.1 High Costs of Agriculture Vrt Equipment
5.2.2.2 Small Size of Landholdings and Limited Availability of Skilled Labor
5.2.3 Opportunities
5.2.3.1 Growing Adoption of Technologically Advanced Equipment and Tools in the Agriculture Industry
5.2.3.2 Vrt Services Provided by Leading Market Players in Developing Economies
5.2.4 Challenges
5.2.4.1 Difficulty in Collecting and Analyzing Multiple Farm Data
5.2.4.2 Lack of Standardization in the Agriculture Variable Rate Industry
5.3 Impact of COVID-19 on Market Dynamics
6 Industry Trends
6.1 Introduction
6.2 COVID-19 Impact on the Agriculture Vrt Market
6.3 Value Chain
6.3.1 Research and Development
6.3.2 Hardware Component Providers
6.3.3 Software Providers
6.3.4 Service Providers
6.3.5 Applications
6.4 Supply Chain
6.5 Technology Analysis
6.5.1 Remote Sensing
6.5.1.1 Active Remote Sensing
6.5.1.2 Passive Remote Sensing
6.5.2 Agriculture Drones/Unmanned Aerial Vehicles (Uavs)
6.5.3 Internet of Things (Iot)
6.6 Ecosystem
6.7 Trends/Disruptions Impacting the Customer's Business
6.8 Patent Analysis
6.9 Trade Analysis
6.10 Porter's Five Forces Analysis
6.10.1 Intensity of Competitive Rivalry
6.10.2 Threat of Substitutes
6.10.3 Bargaining Power of Buyers
6.10.4 Bargaining Power of Suppliers
6.10.5 Threat of New Entrants
6.11 Case Studies Analysis
6.11.1 Use Case 1: Variable Rate Agriculture by Agco Using Internet of Things Technology
6.11.2 Agjunction Helped Efarmers to Develop Affordable Autosteer for Farmers
6.11.3 Use of IoT in Agriculture Vrt
6.12 Regulatory Policies
6.13 Key Conferences & Events in 2022-2023
7 Agriculture Variable Rate Technology Market, by Offering
7.1 Introduction
7.2 Hardware
7.2.1 Guidance and Steering Systems
7.2.2 Flow and Application Control Devices
7.2.3 Gps/Dgps Receivers
7.2.4 Handheld Computers
7.2.5 Yield Monitors
7.2.6 Sensors
7.2.6.1 Soil Sensors
7.2.6.2 Nutrient Sensors
7.2.6.3 Moisture Sensors
7.2.7 Displays
7.2.8 Others
7.3 Vrt Software
7.4 Vrt Service
7.4.1 Farm Operation Services
7.4.2 Integration and Consulting Services
8 Agriculture Variable Rate Technology Market, by Type
8.1 Introduction
8.2 Fertilizer Vrt
8.2.1 Urea Vrt
8.2.2 Uan Vrt
8.2.3 Nh3 Vrt
8.2.4 Other Vrt
8.3 Crop Protection Chemical Vrt
8.4 Soil Sensing
8.5 Seeding Vrt
8.6 Yield Monitoring
8.7 Irrigation Vrt
8.8 Other Vrt Types
9 Agriculture Variable Rate Technology Market, by Crop Type
9.1 Introduction
9.2 Cereals & Grains
9.2.1 Corn
9.2.2 Wheat
9.2.3 Others Cereals and Grains
9.3 Oilseeds & Pulses
9.3.1 Soybean
9.3.2 Cotton
9.3.3 Others Oil Seeds and Pulses
9.4 Fruits & Vegetables
9.5 Others
10 Agricultural Variable Rate Technology Market, by Application Method
10.1 Introduction
10.2 Map-Based Vrt
10.3 Sensor-Based Vrt
10.3.1 Active Optical Sensors
10.3.2 Drone-Based Vrt
10.3.3 Satellite-Based Vrt
11 Agriculture Variable Rate Technology Market, by Farm Size
11.1 Introduction
11.2 Large Farms
11.3 Mid-Sized Farms
11.4 Small Farms
12 Agriculture Variable Rate Technology Market, by Application Fit
12.1 Introduction
12.2 Fertilizer
12.2.1 Specialty Fertilizers
12.2.1.1 Specialty Compounds
12.2.1.1.1 Nitrogen Compounds
12.2.1.1.2 Phosphate Compounds
12.2.1.1.3 Potash Compounds
12.2.1.2 Water Soluble Fertilizers
12.2.1.3 Enhanced Efficiency Fertilizers
12.2.1.3.1 Slow and Controlled Release
12.2.1.3.2 Nitrogen Stabilizers
12.2.1.3.2.1 Nitrification Inhibitors
12.2.1.3.2.2 Urease Inhibitors
12.2.1.4 Micronutrients
12.2.1.4.1 Non-Chelated Micronutrients
12.2.1.4.2 Chelated Micronutrients
12.2.2 Liquid Fertilizers
12.2.3 Organic Fertilizers
12.2.3.1 Biofertilizers (Biologicals)
12.2.3.2 Manures
12.2.4 Other Fertilizers
12.3 Crop Protection Chemicals
12.3.1 Herbicides
12.3.2 Fungicides & Bactericides
12.3.3 Insecticides
12.3.4 Nematicide & Others
12.4 Other Application Fit
13 Agriculture Variable Rate Technology Market, by Region
14 Competitive Landscape
14.1 Overview
14.2 Market Share Analysis, 2020
14.3 Key Player Strategies
14.4 Revenue Analysis of Key Players, 2018-2020
14.5 Company Evaluation Quadrant (Key Players)
14.5.1 Star
14.5.2 Pervasive
14.5.3 Emerging Leaders
14.5.4 Participants
14.5.5 Product Footprint
14.6 Agriculture Variable Rate Technology Market, Startup/Small & Medium Scale Enterprise Evaluation Quadrant, 2020
14.6.1 Progressive Companies
14.6.2 Starting Blocks
14.6.3 Responsive Companies
14.6.4 Dynamic Companies
14.7 New Product Launches and Deals
14.7.1 New Product Launches
14.7.2 Deals
14.8 Market Ranking Analysis
15 Company Profiles
15.1 Key Players
15.1.1 Deere & Company
15.1.2 Trimble, Inc.
15.1.3 Agco Corporation
15.1.4 Topcon Corporation
15.1.5 Cnh Industrial N.V.
15.1.6 Kubota Corporation
15.1.7 Hexagon
15.1.8 Yara International Asa
15.1.9 Sz Dji Technology Co. Changes Ltd.
15.1.10 Valmont Industries Inc.
15.1.11 Lindsay Corporation
15.1.12 The Climate Corporation
15.1.13 AG Leader Technology
15.1.14 Agjunction
15.1.15 Teejet Technologies
16 Adjacent and Related Markets
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/htxl4i
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