The Growing Impact of Variable Rate Technology in Global Agriculture
Ngày đăng: 22-01-2024 |
Ngày cập nhật: 22-01-2024
Introduction:
The global agriculture Variable Rate Technology (VRT) market is witnessing substantial growth, with an estimated value of USD 7.4 billion in 2022. Projections suggest that it will reach USD 13.7 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period. VRT, enabled through field monitoring and equipment, allows farmers to optimize inputs like seeds, fertilizers, herbicides, and water based on site-specific requirements. This targeted approach reduces costs and enhances yields, contributing to the increasing adoption of agricultural VRT.
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Crop Type Dominance:
The cereals and grains segment leads the agricultural VRT market, primarily due to the widespread cultivation of crops like corn, wheat, and rice. In 2018, approximately 728 million hectares of land were dedicated to cereal cultivation globally. The VRT's ability to vary input application rates across fields aligns with the demands of large-scale cereal farming, reducing environmental impacts such as greenhouse gas emissions, soil erosion, and genetic erosion.
Application Method Dynamics:
Among various application methods, sensor-based VRT is poised for the fastest growth. Unlike map-based approaches, sensor-based VRT utilizes active optical sensors, drones, and satellite mapping in real-time, eliminating the need for a pre-existing map or positioning system. However, concerns regarding the high cost of sensor-based VRT remain a challenge during the forecast period.
Farm Size Trends:
Mid-sized farms are projected to experience the highest growth in the agricultural VRT market. This growth is attributed to VRT's role in increasing farmers' profitability while promoting environmentally sustainable practices with reduced chemical fertilizer and crop protection chemical usage. In countries like the U.S., Australia, and the United Kingdom, mid-sized farms are increasingly adopting smart farming techniques to meet the rising demand for food supply.
Regional Leadership:
North America emerges as the largest market for agricultural VRT, driven by increasing automation and digitization in agriculture. The region boasts more than 15% of farms exceeding 200 hectares, where advanced technologies are essential for profitable and efficient farming of commercial crops. The U.S. Department of Agriculture (USDA) reports a steady growth in the adoption of VRT across various crops in North America.
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Key Market Players:
Leading players shaping the agricultural VRT market include Deere & Company, Trimble Inc, AGCO Corporation, Topcon Corporation, CNH Industrial N.V., Kubota Corporation, Yara International, SJ DJI Technology Co., Ltd., Valmont Industries, Inc., Lindsay Corporation, Hexagon, AgJunction, Teejet Technologies, AG LEADER Technology, and The Climate Corporation.
Conclusion:
As global agriculture continues to evolve, the adoption of Variable Rate Technology is becoming instrumental in optimizing farming practices. The emphasis on precision and efficiency, particularly in mid-sized farms, is driving the market's growth. Despite challenges such as the cost of sensor-based VRT, the industry is poised for significant expansion, contributing to sustainable and productive agriculture worldwide.
The global agriculture Variable Rate Technology (VRT) market is witnessing substantial growth, with an estimated value of USD 7.4 billion in 2022. Projections suggest that it will reach USD 13.7 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period. VRT, enabled through field monitoring and equipment, allows farmers to optimize inputs like seeds, fertilizers, herbicides, and water based on site-specific requirements. This targeted approach reduces costs and enhances yields, contributing to the increasing adoption of agricultural VRT.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=178591689
Crop Type Dominance:
The cereals and grains segment leads the agricultural VRT market, primarily due to the widespread cultivation of crops like corn, wheat, and rice. In 2018, approximately 728 million hectares of land were dedicated to cereal cultivation globally. The VRT's ability to vary input application rates across fields aligns with the demands of large-scale cereal farming, reducing environmental impacts such as greenhouse gas emissions, soil erosion, and genetic erosion.
Application Method Dynamics:
Among various application methods, sensor-based VRT is poised for the fastest growth. Unlike map-based approaches, sensor-based VRT utilizes active optical sensors, drones, and satellite mapping in real-time, eliminating the need for a pre-existing map or positioning system. However, concerns regarding the high cost of sensor-based VRT remain a challenge during the forecast period.
Farm Size Trends:
Mid-sized farms are projected to experience the highest growth in the agricultural VRT market. This growth is attributed to VRT's role in increasing farmers' profitability while promoting environmentally sustainable practices with reduced chemical fertilizer and crop protection chemical usage. In countries like the U.S., Australia, and the United Kingdom, mid-sized farms are increasingly adopting smart farming techniques to meet the rising demand for food supply.
Regional Leadership:
North America emerges as the largest market for agricultural VRT, driven by increasing automation and digitization in agriculture. The region boasts more than 15% of farms exceeding 200 hectares, where advanced technologies are essential for profitable and efficient farming of commercial crops. The U.S. Department of Agriculture (USDA) reports a steady growth in the adoption of VRT across various crops in North America.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=178591689
Key Market Players:
Leading players shaping the agricultural VRT market include Deere & Company, Trimble Inc, AGCO Corporation, Topcon Corporation, CNH Industrial N.V., Kubota Corporation, Yara International, SJ DJI Technology Co., Ltd., Valmont Industries, Inc., Lindsay Corporation, Hexagon, AgJunction, Teejet Technologies, AG LEADER Technology, and The Climate Corporation.
Conclusion:
As global agriculture continues to evolve, the adoption of Variable Rate Technology is becoming instrumental in optimizing farming practices. The emphasis on precision and efficiency, particularly in mid-sized farms, is driving the market's growth. Despite challenges such as the cost of sensor-based VRT, the industry is poised for significant expansion, contributing to sustainable and productive agriculture worldwide.
