HOME Press Releases Variable Rate Technology Market worth 2.24 Billion USD by 2022



Variable Rate Technology Market worth 2.24 Billion USD by 2022


The report "Variable Rate Technology (VRT) Market by Type, Offering, Crop Type (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables), Application Method (Map-based and Sensor-based), Farm Size (Large, Mid-sized, Small), and Region - Global Forecast to 2022", The variable rate technology market was valued at USD 1.31 Billion in 2016. It is projected to grow at a CAGR of 9.65% from 2017, to reach 2.24 Billion by 2022.

Browse 75 Market Data Tables and 41 Figures spread through 151 Pages and in-depth TOC on "Variable Rate Technology (VRT) Market by Type, Offering, Crop Type (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables), Application Method (Map-based and Sensor-based), Farm Size (Large, Mid-sized, Small), and Region - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/variable-rate-technology-market-178591689.html
Early buyers will receive 10% customization on reports.

Increasing focus on farm efficiency and productivity is the most significant factor driving the variable rate technology market. Increase in global food demand, extended profitability & production, and crop monitoring for yield production benefits are the major factors behind the growth of the variable rate technology market. Also, government initiatives across countries are helping farmers to use optimized agricultural and technological tools and improve their production levels.

Seeding VRT is estimated to account for the largest share in 2017

Variable rate seeding is being increasingly used by growers for reducing seed costs and maximization of yield by optimizing seeding rates according to field variability. Seeding is the basic functionality of any VRT system and is also the cheapest. Thus, growers adopting VRT mostly start with seeding VRT. For this reason, the seeding VRT segment is estimated to dominate the market.

The oilseeds & pulses segment is projected to be the fastest-growing during the forecast period

The oilseeds & pulses segment is projected to grow at the highest CAGR of from 2017 to 2022, due to increased usage of VRT in soybean and cotton. Soybean is an important global crop which finds major usage in animal feed. Population growth and increase in per capita meat consumption will continue to drive the demand for soybean production in the future. Cotton is the basic resource for thousands of consumer and industrial products manufactured in the U.S. and throughout the world, and the contribution made by cotton to the food and fiber industry continues to grow in importance. Thus, the use of VRT in oilseeds & pulses is expected to grow significantly.

North America, the largest market for variable rate technology

North America is estimated as the largest contributor to the global variable rate technology market due to early adoption of variable rate technologies by countries in this region such as the U.S. and Canada. The presence of a large number of vendors, continuous advancements in technology, and reduced price of equipment are contributing to the growth of the variable rate technology market in North America.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Deere & Company (U.S.), AGCO Corporation (U.S.), Trimble, Inc. (U.S.), CNH Industrial N.V. (U.K.), and Topcon Corporation (Japan); these are well-established and financially stable players that have been operating in the industry for several years. Other players include Raven Industries, Inc. (U.S.), Ag Leader Technology (U.S.), SZ DJI Technology Co., Ltd. (China), and Yara International ASA (Norway).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports