Variable rate technology functions through variable rate application (VRA), which varies the agricultural input application rates, and avoids the time-consuming and human-error component that can arise when input applications are performed manually. The variable rate technology can adjust the rate at which agricultural inputs such as fertilizers, seeds, irrigation, and crop protection chemicals are applied throughout a field based on location and soil conditions.

Read Report Overview: Variable Rate Technology Market

The global variable rate technology market was valued at $2.02 billion in 2021, and it is expected to grow with a CAGR of 20.28% during the forecast period 2022-2027 to reach $6.09 billion by 2027. The growth in the global variable rate technology market is expected to be driven by increasing demand for agricultural output and decreasing labor force in the agriculture industry.

Global Variable Rate Technology Market (by Application)

Variable Rate Fertilization (VRF)
Variable Rate Seeding (VRS)   
Variable Rate Irrigation (VRI) 
Variable Rate Crop Protection Chemical (VRC)
Others 

VRF is anticipated to have a dominant market share in the global variable rate technology market. North America, South America, and China are likely to have high CAGR growth in VRF, as these countries are focusing on avoiding excessive fertilization to retain soil fertility. VRS is predicted to acquire incremental market share in the global variable rate technology market from 2021 to 2027 due to its rising adoption to offset growing agricultural seed costs.

Global Variable Rate Technology Market (by Technology)

Map-Based Technology
Sensor-Based Technology
The global variable rate technology market is expected to be slightly more dominated by the map-based technology segment during the forecast period. The dominance of map-based technology is mainly due to the unavailability of appropriate sensors to collect soil and plant data.

Global Variable Rate Technology Market (by Region)

North America - U.S., Canada, Mexico, and Rest-of-North America
Europe - Germany, France, Italy, and Rest-of-Europe
Asia-Pacific and Japan - Japan, Australia, India, and Rest-of-Asia-Pacific and Japan
South America - Brazil, Argentina, and Rest-of-South America
China
Middle East and Africa - Israel, South Africa, and Rest-of- Middle East and Africa
U.K.

The U.S. generated the highest revenue of $569.7 million in 2021. The country has been experiencing a rapid growth rate in the past few years owing to rising high-value crop production as farmers enjoy short payback in variable rate technology investment for high-value crop production.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

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The top leading players include the public companies operating in the global variable rate technology market, which had a market share of around 62% in 2021. The rest of the market share, 38%, was taken by the private and start-up companies.

Key Questions Answered in this 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?

How much revenue is each of the following segments expected to record during the forecast period, and what is the growth percentage? The segments are as follows:

Application: variable rate fertilization, variable rate seeding, variable rate irrigation, variable rate crop protection chemical, and others

Technology: map-based and sensor-based

Solution: hardware, software, and service

Region: North America, the U.K., Europe, Asia-Pacific and Japan, China, the Middle East and Africa, and South America

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