CRI Report: variable rate technology market to be $6.09 BLN in 2027
variable rate technology market
The global variable rate technology market is estimated to reach $6.09 billion in 2027, reveals the premium market intelligence study by Our Research Team. The study also highlights that the market is set to witness a CAGR of 20.28% during the forecast period 2022-2027.
Variable rate technology can boost agricultural income by streamlining production processes and supporting farmers in overcoming challenges such as changing climatic conditions, including soil nutrients and others. Bigger farms tend to employ VRT more frequently because it is more cost-effective when applied to a larger number of crop acres.
• Extensive competitive benchmarking of the top 20 players (including established players and key start-ups operating in the market) to offer a holistic view of the global variable rate technology market landscape
• Market ranking analysis based on product portfolio, recent development, and regional spread
• Investment landscape including product adoption scenario and patent analysis
Analyst Thoughts
According to Rakhi Tanwar, Principal Analyst, Our Research Team, “According to the U.S. Bureau of Labor Statistics, employment of agriculture workers is expected to grow only 2% between 2020-2030, which is slower than the average employment growth for all other occupations. Growing labor scarcity in the agriculture industry is one of the major drivers which is expected to accelerates the demand for variable rate technology in the forecast period. The variable rate technology helps to automate the application of chemicals, fertilizers, irrigation water, and other farm inputs at different rates across the agricultural field without any manual intervention.”
Key Companies Operating in The Market
Key players in the global variable rate technology market analyzed and profiled in the study involve variable rate technology-based product manufacturers, including hardware, software, and service providers. Moreover, a detailed competitive benchmarking of the players operating in the global variable rate technology market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key companies profiled in the report include Trimble Inc., Deere & Company, AGCO Corporation, Topcon Corporation, CNH Industrial N.V., Lindsay Corporation, Cro Quest Inc, Kubota Corporation, Valmont Industries, Climate LLC, Hexagon Agriculture, DJI, Ag Leader Technology, Farmers Edge Inc, Yara International, OneSoil, HUMMINGBIRD TECHNOLOGIES LIMITED, Sentera, CropX Inc., and DataFarming Pty Ltd.
Key Questions Answered in the Report
• What is the estimated global variable rate technology market size in terms of revenue during the forecast period 2022-2027, and what is the expected compound annual growth rate (CAGR) during the forecast period 2022-2027?
• What are the key trends, market drivers, and opportunities in the market pertaining to the global variable rate technology market?
• What are the major restraints inhibiting the growth of the global variable rate technology market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the global variable rate technology market on the basis of analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key global variable rate technology market players in the agriculture sector based on the analysis of their market coverage and market potential?
• Which type of players and stakeholders are operating in the ecosystem of the global variable rate technology market, and what is their significance in the global market?
• Which are the leading consortiums and associations in the global variable rate technology market, and what are their roles in the market?