Variable Rate Technology Market Competitive Scenario of Leading Key Players - Deere & Company, Trimble, AGCO Corporation, AgJunction Inc., Raven Industries Inc., AG Leader Technology, Kubota Corporation, and SZ DJI Technology Co., Ltd

Global Variable Rate Technology Market Overview:

The world market for variable rate technology was dominated by the cereal and cereal applications segment. The market for oilseeds and pulses is expected to grow at the highest average annual growth rate. Increased meat consumption and population growth are driving the demand for oilseeds and legumes (approximately 80% of the soybean crop is used as food for animal feed). The cereals sector includes crops such as wheat and corn, which are widely grown around the world for food and feed. Wheat is one of the most dominant crops in the world and corn is widely used for animal feed. Therefore, the use of VRT is the highest in this segment.

In addition, the VRT software segment is expected to grow at the highest rate, thanks to its various functions, such as data management, data security, crop health monitoring, agricultural work mapping and inventory management. Hardware systems such as GPS / DGPS receivers, handheld computers, sensors, and performance monitoring systems accounted for more than half of the total VRT market in 2016, thanks to their widespread use of variable rate technology.

Global Variable Rate Technology Market Size:

According to Research Cosmos, The Global Variable Rate Technology Market is projected to grow at a CAGR of 9.65% from 2017, to reach a projected value of USD 2.24 Billion by 2022.

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Drivers and Restraints:

The most important factor in the market is the growing concentration on the efficiency and productivity of the farm. The implementation of Variable Rate Technology has the potential to change agriculture, making this traditional activity more efficient and predictable. The increase in world demand for food, the increase in profitability and production, and the monitoring of crops to obtain gains in yield production are the main drivers of growth in the variable rate technology market. The main challenge in the market of variable rate technology is the effective management of data to make productive decisions. Factors such as the high initial investment requirements for the implementation and maintenance of solutions and devices also act as limitations for the market.

Geographic Segmentation:

North America accounted for the largest share of the variable rate technology market in 2017. Considering this potential, new market players are entering the market. The increase in automation and digitization of agriculture is creating new business models for this market. Asia-Pacific has been projected as the fastest-growing market for variable rate technology, owing to large farmlands and a high population growth rate. In this region, Australia held the largest market share in 2016, whereas the Chinese VRT market is projected to grow at the highest CAGR during the forecast period.

The key players contributing to the market are Deere & Company (U.S.), Trimble, Inc. (U.S.), AGCO Corporation (U.S.), AgJunction Inc. (U.S.), Raven Industries Inc. (U.S.), AG Leader Technology (U.S.), Kubota Corporation (Japan), and SZ DJI Technology Co., Ltd. (China). 

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:

Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.

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