Global Variable Rate Technology Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Various technologies, such as driverless machinery, automated milking systems, and drone crop dusters are providing important and attractive opportunities for the growth of precision agriculture

• However, the markets have been challenged by a lack of supportive infrastructure, awareness, and technical knowledge regarding VRT in many areas across the world. Managing large amounts of data is complex, and farmers may require training and support to effectively use these tools. Implementing VRT requires technical expertise and skills in precision agriculture, GIS, and data analysis, which lacks in many rural areas. Whereas many farmers already have existing farming systems and practices in place, which may not easily integrate with VRT technologies. In rural areas, farmers experience poor connectivity issues and VRT relies on real-time data transfer between hardware and software tools. Overall, addressing these challenges is critical to ensure the widespread adoption of VRT and realizing its full potential to improve the efficiency and sustainability of agriculture.

Market Segmentations

• The Global Variable Rate Technology Market is segmented based on Component, Technology, Crop Type, Farm Size, Application, and Geography.
• By Component, the market is classified into Hardware, Services, and Software.
• The market is dominated by the Hardware sector. The hardware segment's guiding and steering systems sub-segment and the service segment's farm operation services sub-segment have the biggest market shares. The market for variable rate technology software is anticipated to grow quickly due to its many features, including data security, agricultural work mapping, crop health monitoring, data administration, and stock management. Almost half of the market for VRT offers was accounted for by the widespread usage of variable-rate technology and hardware solutions, such as GPS/DGPS receivers, portable computers, sensors, and yield monitor systems.
• By Technology, the market is classified into Map-based VRT and Sensor-based VRT.
• The market is dominated by the Map-Based category. With map-based VRT, the application rate is changed using an electronic map, also referred to as a prescription map. As the applicator moves over the field, the input concentration is calculated using a prescription map of the planned speed and the field position from a GPS device. Some strategies rely on a variety of information sources, while others just use one. These systems must be able to locate the machine in the field and link its location to the desired application rate by scanning the prescription map.
• By Crop Type, the market is classified into Cereals & Grains, Commercial Crops, Fruits & Vegetables, and Oilseeds & Pulses.
• The market as a whole is dominated by Grains and Cereals. Grain and cereal crops are the ones that are harvested most frequently worldwide. Cereals like wheat, corn, and rice have the highest rate of adoption among the many crop types because they are typically farmed on huge farms. Using varied input application rates, field variability can be managed site-specifically. VRT reduces input waste while assisting in increasing crop and land yield. Cereals and grains, fruits and vegetables, oilseeds and pulses, and commercial crops are the categories into which the market is classified based on the types of crops grown. Cereals and grains, which include corn, wheat, and other products, are further divided.
• By Farm Size, the market is classified into Large Farms, Mid-Sized Farms, and Small Farms.
• The market share is controlled by the Large Farm segment. Most large farms use variable rate technology (VRT). Drones, smart sensors, GPS, VRT, navigation tools, GNSS, and receivers are only a few of the high-tech but expensive instruments and technology utilized in agriculture variable rate. Also, the setup and use of agriculture variable rate equipment require specialized workers. Since they require it more than small farms, large farms will be able to invest in technology-based farming.
• By Application, the market is classified into Fertilizers, Crop Protection Chemicals, Soil Sensing, Yield Monitoring, Irrigation, and Others.
• The Fertiliser segment's NH3 VRT subsegment and the crop protection segment's pesticide subsegment have the largest market shares. NH3 VRT refers to the use of precision farming techniques to apply ammonia (NH3) fertilizer at a variable rate based on the specific needs of different areas of a field. The systems use a combination of sensors, GPS mapping, and computer algorithms to create detailed maps of a field's soil nutrient levels and other relevant factors. The farmers optimize their fertilizer usage, reduce waste, and potentially increase crop yields. It also helps to reduce the environmental impact of farming by minimizing the amount of excess fertilizer that can run off into nearby water sources. The market for fertilizers is further divided into Urea VRT, UAN VRT, NH3 VRT, and other VRTs.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• The overall market was topped by North America. North America currently controls most of the global market for variable rate technology because of the region's tremendous progress in the automation and digitization of agriculture. Agriculture is becoming more industrialized and digitalized, which is creating new industry standards for the agricultural VRT market. Fruits and vegetables are anticipated to experience the quickest growth in terms of adoption in the crop type segment. These two factors further push the adoption of VRT in North America because fruits and vegetables are high cash crops for farmers and require greater care due to their erratic growth patterns. The North American VRT market is growing every year because of increased crop utilization.

Recent Development

• Croptimistic Technology Inc. acquired CropPro Consulting to serve farmers and expand reach, solidifying our position as the market leader in soil mapping software and hardware. - February 2023
• NX9 was acquired by CNH Industrial N.V. NX9 was a software suite that delivers ISOBUS core technologies and applications for agriculture equipment and related intellectual property rights. - December 2021
• Kubota Corp. signed a partnership agreement with Bloomfield Robotics to use image analysis technology and Artificial Intelligence (AI) to assess plant growth and detect pests on grape, blueberry, and other tree crops. - December 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxemburg, Ireland, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
• The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Variable Rate Technology Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Variable Rate Technology Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Variable Rate Technology Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market