Market Overview:
The global variable rate technology (VRT) market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The VRT market is segmented on the basis of type, application, and region. On the basis of type, the VRT market is segmented into fertilizer VRT, crop protection chemical VRT, soil sensing VRT, seeding VRT yield monitor VTR irrigation VTR. Fertilizer VTR dominates the global variable rate technology (VRt) market with a share of more than 50%.
 Industry Outlook.svg)
Product Definition:
The definition of Variable Rate Technology (VRT) is a technology that allows for the adjustment of irrigation run times and/or water application rates based on real-time changes in weather, field conditions, and crop needs. VRT helps optimize irrigation by reducing waste and saving money on inputs. It also minimizes environmental impacts by tailoring watering to specific crops and soils.
Fertilizer VRT:
Fertilizer VRT, also known as variable rate technology or grower rate technique is a cost-effective and efficient farming method. It helps in increasing the yield of crops by controlling the application of fertilizers through different rates to match the requirements of plants. The main objective behind using fertilizer VRT is to reduce nitrogen fixation in legumes and cereals which reduces their ability to convert atmospheric nitrogen into protein.
Crop Protection Chemical VRT:
Crop protection chemicals VRT and it's usage in variable rate technology (VRT) market. The global crop protection chemical VRT and it's usage in variable rate technology (VRT) market size was valued at USD 1,2017 million in 2016. It is expected to witness a CAGR of XX% from 2017 to 2025 owing to the increasing adoption of precision farming techniques across the globe for enhancing agricultural yield with minimum environmental impact.
Application Insights:
The application segment is segregated into cereals & grains, oilseeds & pulses, and fruits & vegetables. The use of VRT in the agriculture sector has been gaining traction over the past few years owing to its ability to provide precise amounts of water and fertilizers at a time when farmers are striving for higher crop yields.
Cereals & grains were the largest segment in terms of revenue in 2017. This can be attributed to high adoption rates across major economies such as U.S., Canada, Brazil India among others where wheat and barley are grown commercially.
Regional Analysis:
The Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid technological advancements in agriculture practices, which has resulted in increased adoption of VRT systems across several countries. For instance, China is reported to have around 90% of all the agricultural robots used worldwide and Japan accounts for more than 30% of all agricultural robot installations globally. Furthermore, India is also reported to be one of the fastest-growing markets for these technologies with a CAGR close to 15% from 2018 to 2030 owing primarilyto increasing investments by various government organizations such as Department of Science & Technology (DST), Department of Agriculture & Research Development (DAVID) and Indian Council Of Agricultural Research (ICAR).
North America was another major market that accounted for a significant revenue share in 2017 owing primarilyto high demand from U.S.
Growth Factors:
- Increasing demand for faster and more efficient data processing: The VRT market is expected to grow at a CAGR of over 26% from 2016 to 2024, owing to the increasing demand for faster and more efficient data processing. This is mainly because of the growing volume of data generated by businesses and consumers worldwide.
- Proliferation of big data analytics: Big data analytics helps organizations make better decisions by analyzing large volumes of unstructured data in real time. VRT solutions are used to process this big data quickly and efficiently, making them an essential part of any big data analytics strategy.
- Growing popularity of cloud-based services: Cloud-based services are becoming increasingly popular due to their flexibility, scalability, and cost-effectiveness. VRT solutions can be easily integrated with cloud-based platforms, allowing businesses to process large amounts ofdata quickly and efficiently without having to invest in expensive hardware or software infrastructure .
Scope Of The Report
Report Attributes
Report Details
Report Title
Variable Rate Technology (VRT) Market Research Report
By Type
Fertilizer VRT, Crop Protection Chemical VRT, Soil Sensing VRT, Seeding VRT, Yield Monitor VRT, Irrigation VRT
By Application
Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables
By Companies
Deere, Trimble, Agco Corporation, Kubota, Yara International Asa, Valmont Industries, Lindsay Corporation, Raven Industries, Ag Leader
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Variable Rate Technology (VRT) Market Report Segments:
The global Variable Rate Technology (VRT) market is segmented on the basis of:
Types
Fertilizer VRT, Crop Protection Chemical VRT, Soil Sensing VRT, Seeding VRT, Yield Monitor VRT, Irrigation VRT
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Deere
- Trimble
- Agco Corporation
- Kubota
- Yara International Asa
- Valmont Industries
- Lindsay Corporation
- Raven Industries
- Ag Leader
 Market Overview.svg)
Highlights of The Variable Rate Technology (VRT) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fertilizer VRT
- Crop Protection Chemical VRT
- Soil Sensing VRT
- Seeding VRT
- Yield Monitor VRT
- Irrigation VRT
- By Application:
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Variable Rate Technology (VRT) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Variable rate technology (VRT) is a type of interest rate product that allows borrowers to lock in a specific interest rate for an extended period of time. VRT products are typically offered by banks and credit unions.
Some of the key players operating in the variable rate technology (vrt) market are Deere, Trimble, Agco Corporation, Kubota, Yara International Asa, Valmont Industries, Lindsay Corporation, Raven Industries, Ag Leader.
The variable rate technology (vrt) market is expected to grow at a compound annual growth rate of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Variable Rate Technology (VRT) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Variable Rate Technology (VRT) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Variable Rate Technology (VRT) Market - Supply Chain
4.5. Global Variable Rate Technology (VRT) Market Forecast
4.5.1. Variable Rate Technology (VRT) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Variable Rate Technology (VRT) Market Size (000 Units) and Y-o-Y Growth
4.5.3. Variable Rate Technology (VRT) Market Absolute $ Opportunity
5. Global Variable Rate Technology (VRT) Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
5.3.1. Fertilizer VRT
5.3.2. Crop Protection Chemical VRT
5.3.3. Soil Sensing VRT
5.3.4. Seeding VRT
5.3.5. Yield Monitor VRT
5.3.6. Irrigation VRT
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Variable Rate Technology (VRT) Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
6.3.1. Cereals & Grains
6.3.2. Oilseeds & Pulses
6.3.3. Fruits & Vegetables
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Variable Rate Technology (VRT) Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Variable Rate Technology (VRT) Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Variable Rate Technology (VRT) Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Variable Rate Technology (VRT) Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Variable Rate Technology (VRT) Demand Share Forecast, 2019-2029
9. North America Variable Rate Technology (VRT) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Variable Rate Technology (VRT) Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
9.4.1. Cereals & Grains
9.4.2. Oilseeds & Pulses
9.4.3. Fruits & Vegetables
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
9.7.1. Fertilizer VRT
9.7.2. Crop Protection Chemical VRT
9.7.3. Soil Sensing VRT
9.7.4. Seeding VRT
9.7.5. Yield Monitor VRT
9.7.6. Irrigation VRT
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Variable Rate Technology (VRT) Demand Share Forecast, 2019-2029
10. Latin America Variable Rate Technology (VRT) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Variable Rate Technology (VRT) Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
10.4.1. Cereals & Grains
10.4.2. Oilseeds & Pulses
10.4.3. Fruits & Vegetables
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
10.7.1. Fertilizer VRT
10.7.2. Crop Protection Chemical VRT
10.7.3. Soil Sensing VRT
10.7.4. Seeding VRT
10.7.5. Yield Monitor VRT
10.7.6. Irrigation VRT
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Variable Rate Technology (VRT) Demand Share Forecast, 2019-2029
11. Europe Variable Rate Technology (VRT) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Variable Rate Technology (VRT) Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
11.4.1. Cereals & Grains
11.4.2. Oilseeds & Pulses
11.4.3. Fruits & Vegetables
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
11.7.1. Fertilizer VRT
11.7.2. Crop Protection Chemical VRT
11.7.3. Soil Sensing VRT
11.7.4. Seeding VRT
11.7.5. Yield Monitor VRT
11.7.6. Irrigation VRT
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Variable Rate Technology (VRT) Demand Share, 2019-2029
12. Asia Pacific Variable Rate Technology (VRT) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Variable Rate Technology (VRT) Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
12.4.1. Cereals & Grains
12.4.2. Oilseeds & Pulses
12.4.3. Fruits & Vegetables
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
12.7.1. Fertilizer VRT
12.7.2. Crop Protection Chemical VRT
12.7.3. Soil Sensing VRT
12.7.4. Seeding VRT
12.7.5. Yield Monitor VRT
12.7.6. Irrigation VRT
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Variable Rate Technology (VRT) Demand Share, 2019-2029
13. Middle East & Africa Variable Rate Technology (VRT) Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Variable Rate Technology (VRT) Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Variable Rate Technology (VRT) Market Size and Volume Forecast by Application
13.4.1. Cereals & Grains
13.4.2. Oilseeds & Pulses
13.4.3. Fruits & Vegetables
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Variable Rate Technology (VRT) Market Size and Volume Forecast by Type
13.7.1. Fertilizer VRT
13.7.2. Crop Protection Chemical VRT
13.7.3. Soil Sensing VRT
13.7.4. Seeding VRT
13.7.5. Yield Monitor VRT
13.7.6. Irrigation VRT
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Variable Rate Technology (VRT) Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Variable Rate Technology (VRT) Market: Market Share Analysis
14.2. Variable Rate Technology (VRT) Distributors and Customers
14.3. Variable Rate Technology (VRT) Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Deere
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Trimble
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Agco Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kubota
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Yara International Asa
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Valmont Industries
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Lindsay Corporation
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Raven Industries
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Ag Leader
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
