Agricultural Variable Rate Technology Market

Deere & Company (US) and CNH Industrial NV (UK) are the Key Players in the Agricultural Variable Rate Technology Market

The global agriculture VRT market is estimated to be valued at USD 7.4 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 13.2% during the forecast period. The most significant factor driving the agriculture VRT market is the increasing focus on farm efficiency and productivity. Increasing average farmer ages in developed nations have led to difficulties in carrying out on-field practices manually. This has led to a rise in the use of agriculture variable rate technologies that automate the entire process of scouting, along with various other practices. Developed nations have the largest farm sizes across the globe, which makes it harder for the demographic of farmers whose average ages are increasing to manage them using traditional agriculture practices.

Key players in this market include Deere & Company (US), CNH Industrial NV (UK),  Trimble, Inc (US), Topcon Corporation (Japan), AGCO Corporation (US).

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Deere & Company is among the leaders in the field of precision agriculture since the introduction of automatic guidance equipment and yield monitors in the late 1990s. It is popularly recognized by the brand name John Deere, across the globe. Deere & Company manufactures equipment for agriculture, construction, turf, and forestry industries. The company’s financial services, machinery parts’ services, power systems, and intelligent solution group businesses support and differentiate its equipment business. Its operating segments consist of agriculture and turf, construction and forestry, and financial services. The production and precision agriculture segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for production-scale growers of grains. In August-2021, Deere & Company had  acquisition with Bear Flag Robotics. The deal 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.

CNH Industrial N.V. serves the agriculture and construction industries through 12 brands. The Agriculture Equipment segment offers farm machinery and implements such as two-wheel and four-wheel drive tractors, harvesters, soil preparation & cultivation implements, planting & seeding equipment, hay & forage equipment, and material handling equipment. The products under this segment are manufactured and marketed under the following brands: Steyr, New Holland Agriculture, and Case IH Agriculture. It offers precision agriculture solutions under the brand - Case IH Agriculture. The company serves more than 180 countries worldwide. The industrial needs are catered through its 64 manufacturing plants and 49 research and development centers in nearly 44 countries. Research and development activities involved approximately 5,500 employees at 57 sites worldwide. In December-2021, CNH Industrial N.V. acquired NX9, a software suite specialized in delivering ISOBUS core technologies and applications for agriculture equipment, and related intellectual property rights. This latest R&D investment builds upon the company’s strategic impetus to more efficiently innovate and develop products in the precision agriculture space and deliver greater value for its farming customers. In November 2021, CNH Industrial NV acquired Raven Industries, Inc., a US-based leader in precision agriculture technology. The acquisition builds upon a long partnership and is an important milestone in CNH Industrial’s digital transformation.

Trimble, Inc. is one of the leading providers of location-based solutions with expertise in Global Positioning System (GPS), laser, optical, and inertial technologies with application software, wireless communications, and services to provide complete commercial solutions to maximize productivity and enhance profitability. The company has global operations in a major development, manufacturing, or logistics operations in the United States, the Netherlands, India, China, Germany, the United Kingdom, Finland, Canada, and New Zealand. Products are sold in more than 150 countries, through dealers, representatives, joint ventures, and other channels throughout the world, as well as direct sales to end users. The company’s portfolio includes over 1,100 patents and serves as a basis for broad positioning offerings in the industry. The company operates in four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The geospatial segment offers geographic information systems (“GIS”) in which VRT is offered. The company is entering into new launches to meet customer expectations. In 2019, Trimble launched a new entry-level Trimble Ag Software subscription that enables farmers to connect all aspects of their farm operations.

Related Reports:

Agricultural Variable Rate Technology Market by Offering (Hardware, Software, Service), Type (Fertilizer Vrt, Crop Protection Vrt), Crop Type, Application Method, Farm Size, Application Fit and Region - Global Forecast to 2027

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Report Code
AGI 5433
RI Published ON
4/6/2022
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