Agricultural Variable Rate Technology Market Forecasts to 2028 – Global Analysis By Offering (Services, Hardware), Type (Yield Monitoring, Soil Sensing), Application, and By Geography
According to Stratistics MRC, the Global Agricultural Variable Rate Technology Market is accounted for $6.54 billion in 2021 and is expected to reach $17.61 billion by 2028 growing at a CAGR of 15.2% during the forecast period. Variable-rate technology is a system that allows varying the rate of crop inputs such as fertilizers, and crop protection chemicals based on the sensed or mapped crop characteristics. It is used to assist the variable rate application of resources in precision agriculture.
Market Dynamics:
Driver:
Technological advancements in agriculture variable rate
The traditional agriculture sector is dependent on laborers for many activities. With technological developments, automation is replacing the task of laborers and allowing the key players to achieve high output in less time. Many government organizations, economists, and policymakers are working in favor of agricultural technological developments. Technologies utilized for agriculture variable rates not only help to reduce the labor cost but also utilize resources in the greatest possible way and minimize wastage, which is higher in traditional farming techniques.
Restraint:
High costs
The technologies and equipment utilized in agriculture variable rate, including smart sensors, drones, VRT, GPS, GNSS, guidance tools, and receivers, are extremely efficient but costly. Also, skilled personnel is needed to set up and work on agriculture variable rate equipment. Therefore, in developing with limited resources for agriculture practices, growers opt for traditional farming rather than new technology-based farming because of the requirement of high investments.
Opportunity:
Variable rate technology services provided by leading market players
Variable-rate technology services include farm operation services and integration and services. These services include farm mapping, soil and moisture management, agronomist services, and others that are being provided by different companies. The entry of leading agriculture variable rate technology players in developing economies has played a major role in driving the agriculture variable rate technology market. The market players provide variable rate technology services on a contractual basis, with periodic monthly or quarterly charges. The presence of such services in developing economies helps in improving the awareness of the benefits of agriculture variable rate technologies.
Threat:
Lack of standardization
Agriculture variable rate technologies are still under development and need a high level of knowledge before execution. Agriculture variable rate devices utilize several interfaces, technologies, and protocols. The lack of standardization of these communication interfaces and protocols may result in data misrepresentation. In addition, the lack of technological standardization complicates the integration of systems and hinders the optimum data representation. Most equipment manufacturers utilize their interface communication protocols, which may lead to compatibility issues with other manufacturing brands.
The fertilizers segment is expected to be the largest during the forecast period
The fertilizers segment is estimated to have a lucrative growth as it is essential to apply nutrients and water according to site-specific conditions to account for spatial and temporal variations; this thereby enhances yields with increased efficiency of application and reduced environmental impacts. The increasing price of crop inputs is driving the demand for the precision application of various farm inputs among which fertilizers are one of the major farm inputs for the healthy crop.
The cereals and grains segment is expected to have the highest CAGR during the forecast period
The cereals and grains segment is anticipated to witness the fastest CAGR growth during the forecast period as cereals and grains are the largest crop type that is being harvested globally. Cereals such as corn and wheat have the highest adoption among various crop type as these are majorly grown on large farms. Variable-rate technologies can be utilized in cereals & grains for a number of purposes like improving plant health by matching fertilizer rates with soil fertility levels, reducing environmental impacts including water runoff, and nutrient loss from fields owing to leaching or runoff.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to increasing automation and digitization of agriculture creation of new business models, growing adoption of various crops, and rising availability of the variable rate treatment application services in the United States. This region is the key exporter of various agricultural products; the region is dominated by large-scale farm operations, which primary focus on exports is the major driver for the market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to large farmlands and a high population growth rate in this particular region. Moreover, cereals and grains are the largest crop type that is being harvested in this region. Population expansion in the region’s developing countries is mounting pressure on the agriculture industry to increase productivity, fueling the demand for the market.
Key players in the market
Some of the key players profiled in the Agricultural Variable Rate Technology Market include Yara International, Valmont Industries, Inc, Trimble, Inc, AGCO Corporation, The Climate Corporation, SZ DJI Technology Co., Ltd., AgJunction, Kubota Corporation, Hexagon, Deere & Company, CNH Industrial NV, Teejet Technologies, Lindsay Corporation, AG Leader Technology and Topcon Corporation.
Key Developments:
In December 2021, Kubota Corporation signed an agreement with Bloomfield Robotics, which is a company that delivers plant growth monitoring services to tree crops. The company uses image analysis technology and Artificial Intelligence (AI) to assess plant growth and detect pests on grape, blueberry, and other tree crops. This will promote the transition to smart agriculture on tree crop farms by building an alliance with Bloomfield through investments.
In August 2021, Deere & Company acquired Bear Flag Robotics. The acquisition accelerates the development and delivery of automation and autonomy on the farm and supports John Deere’s long-term strategy to create smarter machines with advanced technology to support individual customer needs.
Farm Sizes Covered:
• Small
• Medium
• Large
Offerings Covered:
• Services
• Software
• Hardware
Types Covered:
• Yield Monitoring
• Seeding Variable Rate Technology
• Irrigation Variable Rate Technology
• Fertilizer Variable Rate Technology
• Crop Protection Chemical Variable Rate Technology
• Soil Sensing
Application Methods Covered:
• Map-based Variable Rate Technology
• Sensor-based Variable Rate Technology
Crop Types Covered:
• Fruits & Vegetables
• Oilseeds & Pulses
• Cereals and Grains
Applications Covered:
• Crop Protection Chemicals
• Fertilizers
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Agricultural Variable Rate Technology Market, By Farm Size
- 5.1 Introduction
- 5.2 Small
- 5.3 Medium
- 5.4 Large
- 6 Global Agricultural Variable Rate Technology Market, By Offering
- 6.1 Introduction
- 6.2 Services
- 6.2.1 Integration & Consultation Services
- 6.2.2 Farm Operation Services
- 6.3 Software
- 6.4 Hardware
- 6.4.1 Guidance and Steering Systems
- 6.4.2 Yield Monitors
- 6.4.3 Handheld Mobile Devices/Computers
- 6.4.4 Global Positioning System/Differential Global Positioning System (DGPS) Receivers
- 6.4.5 Flow and Application Control Devices
- 6.4.6 Sensors
- 6.4.6.1 Soil Sensors
- 6.4.6.2 Nutrient Sensors
- 6.4.6.3 Moisture Sensors
- 6.4.7 Displays
- 7 Global Agricultural Variable Rate Technology Market, By Type
- 7.1 Introduction
- 7.2 Yield Monitoring
- 7.3 Seeding Variable Rate Technology
- 7.4 Irrigation Variable Rate Technology
- 7.5 Fertilizer Variable Rate Technology
- 7.5.1 NH3 Variable Rate Technology
- 7.5.2 Urea Ammonium Nitrate (UAN) Variable Rate Technology
- 7.5.3 Urea Variable Rate Technology
- 7.6 Crop Protection Chemical Variable Rate Technology
- 7.7 Soil Sensing
- 8 Global Agricultural Variable Rate Technology Market, By Application Method
- 8.1 Introduction
- 8.2 Map-based Variable Rate Technology
- 8.3 Sensor-based Variable Rate Technology
- 8.3.1 Satellite-based Variable Rate Technology
- 8.3.2 Drone-based Variable Rate Technology
- 8.3.3 Active Optical Sensor Variable Rate Technology
- 9 Global Agricultural Variable Rate Technology Market, By Crop Type
- 9.1 Introduction
- 9.2 Fruits & Vegetables
- 9.3 Oilseeds & Pulses
- 9.3.1 Cotton
- 9.3.2 Soybeans
- 9.4 Cereals and Grains
- 9.4.1 Wheat
- 9.4.2 Corn
- 10 Global Agricultural Variable Rate Technology Market, By Application
- 10.1 Introduction
- 10.2 Crop Protection Chemicals
- 10.2.1 Nematicides
- 10.2.2 Insecticides
- 10.2.3 Herbicides
- 10.2.4 Fungicides & Bactericides
- 10.3 Fertilizers
- 10.3.1 Liquid Fertilizers
- 10.3.2 Organic Fertilizers
- 10.3.2.1 Manures
- 10.3.2.2 Biofertilizers (Biologicals)
- 10.3.3 Specialty Fertilizers
- 10.3.3.1 Enhanced Efficiency Fertilizers
- 10.3.3.1.1 Slow and Controlled Release
- 10.3.3.1.2 Nitrogen Stabilizers
- 10.3.3.1.2.1 Urease Inhibitors
- 10.3.3.1.2.2 Nitrification Inhibitors
- 10.3.3.2 Micronutrients
- 10.3.3.2.1 Chelated Micronutrients
- 10.3.3.2.2 Non-Chelated Micronutrients
- 10.3.3.3 Water Soluble Fertilizers
- 10.3.3.4 Specialty Compounds
- 10.3.3.4.1 Potash Compounds
- 10.3.3.4.2 Phosphate Compounds
- 10.3.3.4.3 Nitrogen Compounds
- 11 Global Agricultural Variable Rate Technology Market, By Geography
- 11.1 Introduction
- 11.2 North America
- 11.2.1 US
- 11.2.2 Canada
- 11.2.3 Mexico
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 Italy
- 11.3.4 France
- 11.3.5 Spain
- 11.3.6 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 Japan
- 11.4.2 China
- 11.4.3 India
- 11.4.4 Australia
- 11.4.5 New Zealand
- 11.4.6 South Korea
- 11.4.7 Rest of Asia Pacific
- 11.5 South America
- 11.5.1 Argentina
- 11.5.2 Brazil
- 11.5.3 Chile
- 11.5.4 Rest of South America
- 11.6 Middle East & Africa
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 Qatar
- 11.6.4 South Africa
- 11.6.5 Rest of Middle East & Africa
- 12 Key Developments
- 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 12.2 Acquisitions & Mergers
- 12.3 New Product Launch
- 12.4 Expansions
- 12.5 Other Key Strategies
- 13 Company Profiling
- 13.1 Yara International
- 13.2 Valmont Industries, Inc
- 13.3 Trimble, Inc
- 13.4 AGCO Corporation
- 13.5 The Climate Corporation
- 13.6 SZ DJI Technology Co., Ltd.
- 13.7 AgJunction
- 13.8 Kubota Corporation
- 13.9 Hexagon
- 13.10 Deere & Company
- 13.11 CNH Industrial NV
- 13.12 Teejet Technologies
- 13.13 Lindsay Corporation
- 13.14 AG Leader Technology
- 13.15 Topcon Corporation
- List of Tables
- Table 1 Global Agricultural Variable Rate Technology Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Agricultural Variable Rate Technology Market Outlook, By Farm Size (2020-2028) ($MN)
- Table 3 Global Agricultural Variable Rate Technology Market Outlook, By Small (2020-2028) ($MN)
- Table 4 Global Agricultural Variable Rate Technology Market Outlook, By Medium (2020-2028) ($MN)
- Table 5 Global Agricultural Variable Rate Technology Market Outlook, By Large (2020-2028) ($MN)
- Table 6 Global Agricultural Variable Rate Technology Market Outlook, By Offering (2020-2028) ($MN)
- Table 7 Global Agricultural Variable Rate Technology Market Outlook, By Services (2020-2028) ($MN)
- Table 8 Global Agricultural Variable Rate Technology Market Outlook, By Integration & Consultation Services (2020-2028) ($MN)
- Table 9 Global Agricultural Variable Rate Technology Market Outlook, By Farm Operation Services (2020-2028) ($MN)
- Table 10 Global Agricultural Variable Rate Technology Market Outlook, By Software (2020-2028) ($MN)
- Table 11 Global Agricultural Variable Rate Technology Market Outlook, By Hardware (2020-2028) ($MN)
- Table 12 Global Agricultural Variable Rate Technology Market Outlook, By Guidance and Steering Systems (2020-2028) ($MN)
- Table 13 Global Agricultural Variable Rate Technology Market Outlook, By Yield Monitors (2020-2028) ($MN)
- Table 14 Global Agricultural Variable Rate Technology Market Outlook, By Handheld Mobile Devices/Computers (2020-2028) ($MN)
- Table 15 Global Agricultural Variable Rate Technology Market Outlook, By Global Positioning System/Differential Global Positioning System (DGPS) Receivers (2020-2028) ($MN)
- Table 16 Global Agricultural Variable Rate Technology Market Outlook, By Flow and Application Control Devices (2020-2028) ($MN)
- Table 17 Global Agricultural Variable Rate Technology Market Outlook, By Sensors (2020-2028) ($MN)
- Table 18 Global Agricultural Variable Rate Technology Market Outlook, By Displays (2020-2028) ($MN)
- Table 19 Global Agricultural Variable Rate Technology Market Outlook, By Type (2020-2028) ($MN)
- Table 20 Global Agricultural Variable Rate Technology Market Outlook, By Yield Monitoring (2020-2028) ($MN)
- Table 21 Global Agricultural Variable Rate Technology Market Outlook, By Seeding Variable Rate Technology (2020-2028) ($MN)
- Table 22 Global Agricultural Variable Rate Technology Market Outlook, By Irrigation Variable Rate Technology (2020-2028) ($MN)
- Table 23 Global Agricultural Variable Rate Technology Market Outlook, By Fertilizer Variable Rate Technology (2020-2028) ($MN)
- Table 24 Global Agricultural Variable Rate Technology Market Outlook, By NH3 Variable Rate Technology (2020-2028) ($MN)
- Table 25 Global Agricultural Variable Rate Technology Market Outlook, By Urea Ammonium Nitrate (UAN) Variable Rate Technology (2020-2028) ($MN)
- Table 26 Global Agricultural Variable Rate Technology Market Outlook, By Urea Variable Rate Technology (2020-2028) ($MN)
- Table 27 Global Agricultural Variable Rate Technology Market Outlook, By Crop Protection Chemical Variable Rate Technology (2020-2028) ($MN)
- Table 28 Global Agricultural Variable Rate Technology Market Outlook, By Soil Sensing (2020-2028) ($MN)
- Table 29 Global Agricultural Variable Rate Technology Market Outlook, By Application Method (2020-2028) ($MN)
- Table 30 Global Agricultural Variable Rate Technology Market Outlook, By Map-based Variable Rate Technology (2020-2028) ($MN)
- Table 31 Global Agricultural Variable Rate Technology Market Outlook, By Sensor-based Variable Rate Technology (2020-2028) ($MN)
- Table 32 Global Agricultural Variable Rate Technology Market Outlook, By Satellite-based Variable Rate Technology (2020-2028) ($MN)
- Table 33 Global Agricultural Variable Rate Technology Market Outlook, By Drone-based Variable Rate Technology (2020-2028) ($MN)
- Table 34 Global Agricultural Variable Rate Technology Market Outlook, By Active Optical Sensor Variable Rate Technology (2020-2028) ($MN)
- Table 35 Global Agricultural Variable Rate Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 36 Global Agricultural Variable Rate Technology Market Outlook, By Fruits & Vegetables (2020-2028) ($MN)
- Table 37 Global Agricultural Variable Rate Technology Market Outlook, By Oilseeds & Pulses (2020-2028) ($MN)
- Table 38 Global Agricultural Variable Rate Technology Market Outlook, By Cotton (2020-2028) ($MN)
- Table 39 Global Agricultural Variable Rate Technology Market Outlook, By Soybeans (2020-2028) ($MN)
- Table 40 Global Agricultural Variable Rate Technology Market Outlook, By Cereals and Grains (2020-2028) ($MN)
- Table 41 Global Agricultural Variable Rate Technology Market Outlook, By Wheat (2020-2028) ($MN)
- Table 42 Global Agricultural Variable Rate Technology Market Outlook, By Corn (2020-2028) ($MN)
- Table 43 Global Agricultural Variable Rate Technology Market Outlook, By Application (2020-2028) ($MN)
- Table 44 Global Agricultural Variable Rate Technology Market Outlook, By Crop Protection Chemicals (2020-2028) ($MN)
- Table 45 Global Agricultural Variable Rate Technology Market Outlook, By Nematicides (2020-2028) ($MN)
- Table 46 Global Agricultural Variable Rate Technology Market Outlook, By Insecticides (2020-2028) ($MN)
- Table 47 Global Agricultural Variable Rate Technology Market Outlook, By Herbicides (2020-2028) ($MN)
- Table 48 Global Agricultural Variable Rate Technology Market Outlook, By Fungicides & Bactericides (2020-2028) ($MN)
- Table 49 Global Agricultural Variable Rate Technology Market Outlook, By Fertilizers (2020-2028) ($MN)
- Table 50 Global Agricultural Variable Rate Technology Market Outlook, By Liquid Fertilizers (2020-2028) ($MN)
- Table 51 Global Agricultural Variable Rate Technology Market Outlook, By Organic Fertilizers (2020-2028) ($MN)
- Table 52 Global Agricultural Variable Rate Technology Market Outlook, By Specialty Fertilizers (2020-2028) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook