Impact Analysis of Covid-19
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The global Variable Rate Technology (VRT)market was valued at USD 1.29billion in 2016 and is projected to reach USD 2.95billionby 2025, growing at a CAGR of 9.62% from 2017 to 2025.
Variable-rate technology (VRT) describes any technology which enables producers to vary the rate of crop inputs. VRT combines a variable-rate (VR) control system with application equipment to apply inputs at a precise time and/or location to achieve site-specific application rates of inputs.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Improved Efficiency and Productivity Through Improved Crop Yields
1.2 Suitable Govt. Regulations
1.3 Increase in Avg. age of Farmers in developed regions
2. Market Restraints
2.1 High Initial Cost and investments
2.2 Lack of awareness with respect to VRT
Market Segmentation:
1. By Farm Size:
1.1 Large Farms
1.2 Mid-Size Farms
1.3 Small Farms
2. By Application:
2.1 Map-Based VRT
2.2 Sensor-Based VRT
3. By Crop Type:
3.1 Cereals & Grains
3.1.1 Corn
3.1.2 Wheat
3.1.3 Others
3.2 Oilseeds & Pulses
3.2.1 Soybean
3.2.2 Cotton
3.2.3 Others
3.3 Fruits & Vegetables
3.4 Others
4. By Type:
4.1 Fertilizer VRT
4.2 Crop Protection Chemical VRT
4.3 Soil Sensing VRT
4.4 Seeding VRT
4.5 Yield Monitor VRT
4.6 Irrigation VRT
4.7 Other VRT Types
5. By Offering:
5.1 Hardware
5.1.1 GPS/DGPS Receivers
5.1.2 Handheld Computers
5.1.3 Sensors
5.1.4 Yield Monitors
5.1.5 Others
5.2 VRT Software
5.3 VRT Service
5.3.1 Farm Operation Services
5.3.2 Integration & Consulting Services
5.3.3 Others
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Deere & Company
2. Trimble, Inc.
3. Agco Corporation
4. Topcon Corporation
5. CNH Industrial N.V.
6. Kubota Corporation
7. Yara International ASA
8. SZ DJI Technology Co., Ltd.
9. Valmont Industries, Inc.
10. Lindsay Corporation
11. Raven Industries, Inc.
12. AG Leader Technology
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Variable Rate Technology (VRT)marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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