Global Variable Rate Precision Farming Market – Industry Trends and Forecast to 2029

Variable Rate Precision Farming Market Analysis and Size

The rising number of applications of variable rate precision farming systems, such as smart sensing and modern agricultural techniques, are in wide usage across the globe. The adoption of artificial intelligence-based solutions is creating growth opportunities for the market over the forecasted period.

Global variable rate precision farming market was valued at USD 8,390.20 million in 2021 and is expected to reach USD 21072.46 million by 2029, registering a CAGR of 12.20% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Variable Rate Precision Farming Market Scope and Segmentation

Market Definition

A variable rate of precision farming refers to the precision and inspection techniques regarding the management of the field and the output. The farmers use these methods to receive enhanced and accurate, highly-efficient outputs.

Global Variable Rate Precision Farming Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rapid adoption of advanced technologies

The adoption of advanced technologies is enabling the farmers to replace the task of labors and deliver the output more efficiently and accurately. It also allows them to cover large areas of their field in less time and more efficiently. Adopting advanced technologies such as smart sensors, automated guidance technologies and automatic steering technologies helps reduce labor costs and utilize resources in the best possible way by minimizing the generated waste. All these factors are driving the growth of the variable rate precision farming market over the forecasted period.

• Growing innovations in farming sector

The growing innovations in farming sector such as vertical farming with smart designs to maximize yields and reduce wastes is the major factor that is increasing demands for the precision farming methods. Additionally, the wide range of smart sensors such as water, temperature and soil-based sensors are playing an important role in the high demands for the precision farming systems. This factor is expected to drive the growth of the variable rate precision farming market over the forecasted period.

Opportunities

• Rising use of artificial intelligence (AI) based solutions

The growing penetration of artificial intelligence based applications is estimated to generate lucrative opportunities for the market, which will further expand the variable rate precision farming market's growth rate in the future. They help the farmers extract controlled and accurate outputs in various applications such as water management, pest control, etc. The wide usage of these tools is expected to create significant lucrative growth opportunities for the market over the forecasted period.

Restraints/Challenges

• Difficulty in collection of data

The difficulty in collecting and analyzing collected data from variable rate seeding, seed monitoring, soil testing and others is a factor crating hindrance for the market and is expected to obstruct market growth.

• High Costs of equipment

The main drawback is that costs of the farming equipment is higher than average. This factor is projected to be a challenge for the variable rate precision farming market over the forecast period.

This variable rate precision farming market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the variable rate precision farming market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Variable Rate Precision Farming Market Scope

The variable rate precision farming market is segmented on the basis of offering, technology and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offerings

• Hardware
• Automation & Control Systems
• Drones
• Application Control Devices
• Guidance System
• GPS
• GIS

Remote Sensing

• Handheld
• Satellite Sensing
• Driverless Tractors
• Mobile Devices
• VRT
• Map-based
• Sensor-based

Wireless Modules

• Bluetooth Technology
• Wi-Fi Technology
• Zigbee Technology
• RF Technology
• Sensing Devices
• Soil sensor
• Nutrient Sensor
• Moisture Sensor
• Temperature Sensor
• Water Sensor
• Climate Sensor

Others

• Antennas & Access Points
• Software
• Web-based
• Cloud-based
• Services
• System Integration & Consulting
• Maintenance & Support
• Managed Services
• Data Services
• Analytics Services
• Farm Operation Services

Assisted Professional Services

• Climate Information Services
• Supply Chain Management Services

Technology

• Map-Based Variable Rate Technology
• Sensor-Based Variable Rate Technology

Application

• Precision Irrigation
• Precision Seeding
• Precision Fertilization
• Pesticide Variable Rate Application

Variable Rate Precision Farming Market Regional Analysis/Insights

The variable rate precision farming market is analyzed and market size insights and trends are provided by offering, technology and applications as referenced above.

The countries covered in the variable rate precision farming market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the variable data precision farming market because of the adoption of advanced technology and improved infrastructure within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising number of initiatives by the government for the adoption of advanced technology within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Variable Rate Precision Farming Market Share Analysis

The variable rate precision farming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to variable rate precision farming market.

Some of the major players operating in the variable rate precision farming market are

• Deere & Company. (U.S.)
• Trimble Inc. (U.S.)
• AGCO Corporation. (U.S.)
• AGJUNCTION INC (Canada)
• Raven Industries (U.S.)
• Ag Leader Technology (U.S.)
• AgEagle Aerial Systems Inc (U.S.)
• TeeJet Technologies (India)
• Taranis (U.S.)
• Topcon (Japan)
• Hexagon Agriculture (U.S.)
• Corteva. (U.S.)
• Prospera Technologies (Israel)
• Autonomous Tractor Corporation. (U.S.)
• Climate LLC. (U.S.)
• CropX inc. (Israel)
• Descartes Labs, Inc. (U.S.)
• DICKEY-john. (U.S.)
• Farmers Edge Inc. (Canada)
• CropMetrics LLC (U.S.)
• Grownetics, Inc. (U.S.)
• LexisNexis Risk Solutions Group (U.S.)
• Trimble (U.S.)
• Topcon (Japan)

SKU-56260