Global VRT Technology Market Size & Share to 2027

Global VRT Technology Market Size & Share to 2027

Global VRT Technology Market Size, Trends & Growth Opportunity, By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others,),By Offerings (Hardware, Software, and Service), By Application Method (Sensor Based VRT, and Map Based VRT),By Farm Size, By Application, By Region and Forecast till 2027

Global VRT Technology Market

VRT technology is referred as Variable –Rate Technology which facilitates procedures to vary the rate of yield inputs. This technology is used to accelerate VRA (variable Rate Application) of resources in precision farming. VRT technology combines a variable rate control system with variable rate application equipment to apply inputs of a precise time or location to achieve site specific application rates of inputs.

Market Drivers

Favorable government initiatives for adoption of modern agricultural techniques which expected to boost the global VRT technology market growth. Furthermore, the rise in average age of farmers in developed countries will positively influence the market growth. Also, improved efficiency and productivity through improved crop yields with field quality will support the market growth during this forecast period. Moreover, growing integration of smartphones with agricultural hardware and software applications expected to drive the global VRT technology market growth. In addition, VRT services provided by leading players in developing economies will fuel the market growth.

Market Restraints

High initial capital investment is the major challenging factor which expected to hinder the global VRT technology market growth. Also, lack of technical awareness and understanding regarding advantages of VRT over traditional farming practices may affect the market growth.

Market Segmentation

The Global VRT Technology Market is segmented into crop type such as Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others, by offerings such as Hardware, Software, and Service, by application method such as Sensor Based VRT, and Map Based VRT, by Farm Size such as Large Farms, Small Farms, and Mid-Size Farms. Further, market is segmented into application such as Fertilizer VRT, Soil Sensing VRT, Seeding VRT, Crop Protection Chemical VRT, Irrigation VRT, and Others.

Also, the Global VRT Technology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as AGCO Corporation, Aarkay Food Product, Yara International Asa, SST Software, Raven Industries Inc, Lindsay Corporation, Kubota Corporation, Deere and Company, CNH Industrial N.V., etc.

Market Segmentation

By Crop Type

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others

By Offerings

• Hardware
• Software
• Service

By Application Method

• Sensor Based VRT
• Map Based VRT

By Farm Size

• Large Farms
• Small Farms
• Mid-Size Farms

By Application

• Fertilizer VRT
• Soil Sensing VRT
• Seeding VRT
• Crop Protection Chemical VRT
• Irrigation VRT
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global VRT Technology Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?