Agriculture Variable Rate Technology Market was valued at $6.8 billion in 2021 and it is expected to reach $23.2 billion at a CAGR of 11.50% between 2022-2032
MILWAUKEE, WISCONSIN, UNITED STATES, April 24, 2022 /EINPresswire.com/ — According to a market report, published by Sheer Analytics and Insights, the total Agriculture Variable Rate Technology Market was valued at $6.8 billion in 2021 and it is expected to reach $23.2 billion at a CAGR of 11.50% through the forecast period. Agriculture variable rate technology can have a positive impact on the crop yield which is expected to support costs reduction, enhancement of yield, and input efficiency. Therefore, the adoption of the variable rate technology is rising in awareness and it gives economic advantages which are anticipated to drive the market during the forecast period. Variable-rate technology is a kind of tool that is used in varying the rate of crop inputs such as fertilizers and crop protection chemicals based on crop characteristics. Advanced technology and innovation have supported the development of several areas of agriculture. Technologies such as software applications, communication systems, data analytics solutions, sensing technologies, and other technologies are used in farming. Other various technologies such as automatic milking systems drone crop dusters, and driverless machines are supporting the market to grow across the globe.
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In the U.S, some agricultural dealers offer to farmers various types of variable technology services. Therefore, the adoption of this kind of variable rate technology application services is further projected to make a profitable growth for the market across the region. Moreover, some major factors such as various countries’ government regulations, improved efficiency, and productivity with rising in the average age of farmers in developed countries are one of the main factors which are fueling the growth of market. Additionally, the adoption of smartphones with agricultural tools and hardware would support various growth opportunities that will expand the market through the upcoming forecast period from 2022 to 2032. Based on product, the agriculture variable rate technology is segmented into fertilizer VRT, Seeding VRT, crop protection chemicals VRT, soil sensing VRT, yield VRT, and others.
Based on the regions, the agriculture variable rate technology market is segmented into Europe, North America, Asia-Pacific, Latin America, and Africa. Among these regions, North America is dominating the market over the past few years and it is expected to hold a similar position through the forecast period. Moreover, the Asia-Pacific region is also expected to gain a significant growth rate during the forecast period due to the large farming lands and increasing population across the region. Additionally, cereals and grains are the largest crop type that is being harvested globally; therefore, this segment is supporting the market to have profitable growth.
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Key players such as Deere and Company (U.S), AGCO Corporation (U.S), Topcon Corporation (Japan), Trimble Inc (U.S), Yara International (Norway), Valmont Industries Inc (U.S), Lindsay Corporation (U.S), Hexagon (Brazil), AG Leader Technology (U.S), The Climate Corporation (U.S), SJ DJI Technology (China), Kubota Corporation (Japan) and other companies are dominating the agriculture variable rate technology market. These major players are enhancing their market growth by implementing new innovative technologies and providing various services to farmers and agricultural sectors.
The Global Agriculture Variable Rate Technology Market Has Been Segmented Into:
The Global Agriculture Variable Rate Technology Market – By Product Type:
Crop Protection Chemical VRT
The Global Agriculture Variable Rate Technology Market – By Services:
The Global Agriculture Variable Rate Technology Market – By Crop Type:
Cereals and Grains
Oilseeds and Pulses
Fruits and Vegetables
The Global Agriculture Variable Rate Technology – By Applications:
The Global Agriculture Variable Rate Technology – by Farm Size:
The Global Agriculture Variable Rate Technology – by Regions:
Rest of Europe Countries
Rest of Asian Countries
Latin America, Middle East & Africa (LAMEA):
Rest of LAMEA
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