Variable Rate Technology Market Trends and Forecast
The future of the global variable rate technology market looks promising with opportunities in the crop protection chemical, fertilizer, irrigation, soil sensing, and yield monitoring markets. The global variable rate technology market is expected to reach an estimated $7.5 billion by 2030 with a CAGR of 9.1% from 2024 to 2030. The major drivers for this market are increasing demand for specialty crops, rising adoption of autonomous farming practices, and growing advancements in agricultural machinery & data analytics.
• Lucintel forecasts that hardware is expected to witness the highest growth over the forecast period.
• Within this market, fertilizer is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Variable Rate Technology Market
• United States: John Deere introduced new VRT-enabled machinery, aligning with government incentives for precision agriculture to enhance crop yields and reduce environmental impact.
• Canada: AGCO Corporation expanded its VRT product line, supported by government grants for sustainable farming practices and efficient use of agricultural inputs.
• Australia: Trimble Inc. partnered with local farms to implement VRT systems, aiming to optimize resource usage and meet national targets for sustainable agriculture.
• Brazil: CNH Industrial launched VRT solutions tailored for the Brazilian market, backed by government programs promoting precision farming technologies to boost productivity and sustainability.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Variable Rate Technology Market by Segment
The study includes a forecast for the global variable rate technology market by component, technology, crop type, application, and region.
Variable Rate Technology Market by Component [Value from 2018 to 2030]:
• Hardware
• Services
• Software
Variable Rate Technology Market by Technology [Value from 2018 to 2030]:
• Map-Based
• Sensor-Based
Variable Rate Technology Market by Crop Type [Value from 2018 to 2030]:
• Cereals & Grains
• Commercial Crops
• Fruits & Vegetables
• Oilseeds & Pulses
Variable Rate Technology Market by Application [Value from 2018 to 2030]:
• Crop Protection Chemicals
• Fertilizers
• Irrigation
• Soil Sensing
• Yield Monitoring
• Others
Variable Rate Technology Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Variable Rate Technology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies variable rate technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the variable rate technology companies profiled in this report include-
• Teejet Technologies
• Topcon Corporation
• Trimble
• Valmont Industries
• Yara International
• AquaSpy
• Bayer
• Capstan AG Systems
• Crop Quest
• CNH Industrial
Recent Development in the Variable Rate Technology Market
• Raven Industries: Unveiled new VRT software designed to enhance decision-making in real-time. The technology integrates seamlessly with existing farm equipment, providing farmers with precise control over input applications.
• Topcon Agriculture: Rolled out advanced VRT systems in Europe, focusing on increasing efficiency and reducing environmental impact. TopconÄX%$%Xs solutions are designed to meet the stringent regulatory standards of the European Union.
• Kubota Corporation: Entered the VRT market with innovative solutions tailored for small and medium-sized farms. KubotaÄX%$%Xs technology emphasizes user-friendliness and cost-effectiveness, catering to a diverse range of agricultural operations.
• Deere & Company: Continued to innovate in the VRT space with the introduction of AI-driven tools that enhance precision agriculture. The companyÄX%$%Xs latest advancements aim to further improve crop management and sustainability.
Features of the Global Variable Rate Technology Market
Market Size Estimates: Variable rate technology market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Variable rate technology market size by various segments, such as by component, technology, crop type, application, and region in terms of value ($B).
Regional Analysis: Variable rate technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different components, technologies, crop types, applications, and regions for the variable rate technology market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the variable rate technology market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the variable rate technology market size?
Answer: The global variable rate technology market is expected to reach an estimated $7.5 billion by 2030.
Q2. What is the growth forecast for variable rate technology market?
Answer: The global variable rate technology market is expected to grow with a CAGR of 9.1% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the variable rate technology market?
Answer: The major drivers for this market are increasing demand for specialty crops, rising adoption of autonomous farming practices, and growing advancements in agricultural machinery & data analytics.
Q4. What are the major segments for variable rate technology market?
Answer: The future of the variable rate technology market looks promising with opportunities in the crop protection chemical, fertilizer, irrigation, soil sensing, and yield monitoring markets.
Q5. Who are the key variable rate technology market companies?
Answer: Some of the key variable rate technology companies are as follows:
• Teejet Technologies
• Topcon Corporation
• Trimble
• Valmont Industries
• Yara International
• AquaSpy
• Bayer
• Capstan AG Systems
• Crop Quest
• CNH Industrial
Q6. Which variable rate technology market segment will be the largest in future?
Answer: Lucintel forecasts that hardware is expected to witness the highest growth over the forecast period.
Q7. In variable rate technology market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the variable rate technology market by component (hardware, services, and software), technology (map-based and sensor-based), crop type (cereals & grains, commercial crops, fruits & vegetables, and oilseeds & pulses), application (crop protection chemicals, fertilizers, irrigation, soil sensing, yield monitoring, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Variable Rate Technology Market Market, Variable Rate Technology Market Market Size, Variable Rate Technology Market Market Growth, Variable Rate Technology Market Market Analysis, Variable Rate Technology Market Market Report, Variable Rate Technology Market Market Share, Variable Rate Technology Market Market Trends, Variable Rate Technology Market Market Forecast, Variable Rate Technology Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.