Press release
Variable Rate Technology (VRT) Market Size, Share - Industry Growth 2022
Variable Rate Technology (VRT)
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The variable rate technology market is projected to grow at a CAGR of 9.65% from 2017,to reach USD 2.24billion by 2022. Improved efficiency & productivity through improved crop yields & field quality and favorable government initiatives for adoption of modern agricultural techniques are the major factors driving this market. However, high initial capital investment and lack of technical awareness & understanding regarding advantages of VRT over traditional agricultural practices are the major restraining factors in the variable rate technology market.
The map-based VRT segment is the most widely used application method of variable rate technology across the globe. Map-based VRT is traditional application method, and is thus widely used; sensor based-VRT is relatively new and is under development. Also, the real-time sensor-based variable rate equipment is more complex and requires the working of several different components to achieve a desired output. Hence, growers prefer map-based VRT to sensor-based VRT.
The large farms segment comprises farms larger than 200 hectares in size. Variable rate technology is most suitable for these farm sizes considering economies of scale. Advances in modern commercial farming machinery in recent years, particularly with respect to power and size, now allow a single owner to successfully manage a cropping enterprise of thousands of hectares, thus increasing the value of scale.
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The variable rate technology market has been segmented on the basis of type, crop type, application method, offerings, form, and region. In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles—which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the global variable rate technology market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Key Points From Table Of Content:
13 Company Profiles
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
13.1 Deere & Company
13.2 Trimble, Inc.
13.3 Agco Corporation
13.4 Topcon Corporation
13.5 CNH Industrial N.V.
13.6 Kubota Corporation
13.7 Yara International ASA
13.8 SZ DJI Technology Co., Ltd.
13.9 Valmont Industries, Inc.
13.10 Lindsay Corporation
13.11 Raven Industries, Inc.
13.12 AG Leader Technology
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