Variable Rate Technology Market Emerging Growth, Recent Trends, Analysis, Outlook, Insights and Forecasts Report 2030
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Rapid adoption of advanced technologies in agriculture variable rate to reduce labor cost is a key factor driving atherosclerosis drugs market
VANCOUVER, BC, CANADA, September 14, 2022 /EINPresswire.com/ -- The global Variable Rate Technology (VRT) market size was USD 6.50 Billion in 2021 and is expected to register a revenue CAGR of 13.2% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of advanced technologies in agriculture variable rate to reduce labor cost is a key factor driving market revenue growth of. Variable Rate Technology (VRT) is a tool or system that allows varying rate of crop inputs, such as fertilizers and crop protection chemicals, based on sensed or mapped crop characteristics. Automation is the obvious choice for majority of farmers as technology advances, becomes more affordable to purchase, and aid in increasing crop production around the world.
Variable Rate Technology Global Market Report 2022 is one of a series of new reports from Emergen Research Company that provides Variable Rate Technology market overviews, analyzes and forecasts market size and growth for the Variable Rate Technology global market, Variable Rate Technology market share, Variable Rate Technology market segments and geographies, Variable Rate Technology global market players, Variable Rate Technology global market leading competitor revenues, profiles and market shares. The Variable Rate Technology global market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
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Major Players/Manufacturers profiled in the report are:
Deere & Company, Trimble, Inc., AGCO Corporation, Topcon, CNH Industrial N.V., KUBOTA Corporation, Hexagon, Yara, DJI, and Valmont Industries, Inc.
Some Key Highlights from the Report
The hardware segment accounted for largest revenue share in 2021. Variable-Rate Application (VRA) in agriculture is an area of technology that focuses on automated use of products in a specific setting. Various pieces of gear, including sensors, GPS, and maps, are employed depending on data they receive. To strike the correct balance, VRT is a fantastic tool. Farmers can utilize precision agriculture technology to direct automated and variable application of seeds, fertilizer, and chemical applications to their fields using information about their activities that has been obtained. VRT decisions and parameters are based on a variety of hardware data, including GPS, in-field sensors, and maps of a particular activity.
The Fertilizer VRT segment accounted for a largest revenue share in 2021. Using a variable-rate fertilizer application, different sections of field can get fertilizer applications at various rates. Distribution of fertilizer will depend on anticipated yield, soil fertility, and other variables that may have an impact such as topography, soil texture, electrical conductivity, soil nutrients, and moisture content. All occupations exhibit heterogeneity. Within the same field, there are always differences in fertility of soil and yields, while in certain cases, yield disparities between several plots in a single field have reached to 400%. As a result, depending on the plot, fertilization effects on plants differed. Heterogeneity is taken into account when applying variable fertilizer rates and figuring out accurate fertilizer rates for each area of the field.
The cereals & grains segment accounted for largest revenue share in 2021. Fact that cereals and grains are the most common crop type farmed globally is anticipated to support expansion of this market sector. FAO predicts a 7-million-ton increase in global cereal production to 2 792 million tons in 2022. FAO projects that volume of grain commerce worldwide will increase by 4.8 million tons to 468 million tons in 2022–2023. Consequently, demand for variable rate technology in farming has increased as a result of increased production of crops such as cereals and grains. These are main factors driving revenue growth of this segment.
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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Emergen Research has segmented the global VRT market based on offering, type, crop type, application method, and region:
Offering Outlook (Revenue, USD Billion; 2019-2030)
Hardware
Guidance & Steering Systems
Flow & Application Control Devices
GPS/DGPS Receivers
Handheld Computers
Yield Monitors
Sensors
Displays
Others
VRT Software
VRT Service
Farm Operation Services
Integration & Consulting Services
Type Outlook (Revenue, USD Billion; 2019-2030)
Fertilizer VRT
UREA VRT
UAN VRT
NH3 VRT
Other VRT
Crop Protection Chemical VRT
Soil Sensing
Seeding VRT
Yield Monitoring
Irrigation VRT
Other VRT Types
Regional Segmentation Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report studies the types and applications of the global Variable Rate Technology market. The report categorizes the Variable Rate Technology industry into different types covering different products supplied in the Variable Rate Technology market. Each type is briefly described in the report such that why it is used, the main sources, the production costs, and the processing involved in it. Depending on various applications of the products and services in the market, the Variable Rate Technology market is categorized in the following non-exhaustive list of products. The application segment is anticipated to grow rapidly shortly due to its unique features and solutions, other crucial information about the types and applications is given in the report.
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Purchase for the following reasons:
1.To gain an in-depth market analysis and a full understanding of the world market and its commercial environment.
2. Reduce the risk of development, production process, key issues, and corrective actions.
3. To understand the most influential driving and controlling forces in the Variable Rate Technology market and their global implications.
4. Learn about the marketing strategies used by the most successful companies in their field.
5. To better understand market prospects and opportunities.
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The global Variable Rate Technology (VRT) market size was USD 6.50 Billion in 2021
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