Transparency Market Research in its new report titled, “Farm Variable Rate Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the farm variable rate technologies market. The TMR report states that the increasing support to small-scale farms will drive the farm variable rate technologies market during the forecast period i.e, 2018-2026. Increased production of off-road vehicles is likely to propel the farm variable rate technologies market during the forecast period. Moreover, a rise in automation in various industries such as agriculture has increased the usage of off-road vehicles in this sector. Unavailability of farm labor is a major issue related to farmers, currently. Furthermore, precision is required in agriculture in order to avoid losses. These issues can be overcome by usage of farm variable rate technologies, which in turn is likely to boost the market, says the report.
The TMR report has segregated the farm variable rate technologies market based on application, product, crop, farm size, offering, and geography. In terms of product, the farm variable rate technologies market is divided into map-based variable rate technologies and sensor-based variable rate technologies. Map-based VRT is pre-planned, and applications are based on VRT prescription maps that are an advisor, which is based on data sources. Sensor-based VRT is calculated real-time, based on sensors that are local to the variable rate technologies. In terms of offerings, the farm variable rate technologies market is segmented into hardware, and two more segments. Hardware is mechanical/ electronics components that are used in the field. In terms of farm size, the farm variable rate technologies market is segmented into large size, and two more segments. Large size farms are more prone to new technologies as it has great applications in such farms. On the basis of crop, the farm variable rate technologies market is classified into cereals & grains and three more segments.
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Based on application, the farm variable rate technologies market is categorized into fertilizers variable rate technologies (VRT) and five other segments. Fertilizers VRT is commonly employed for the protection of farm from the foreign harmful particles. On the basis of geographical perspective, the farm variable rate technologies market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the report, Asia Pacific accounts for a major share of the global farm variable rate technologies market. This leads to the considerable adoption of farm variable rate technologies, as most vehicles manufactured in this regions are equipped with farm variable rate technologies, especially in countries such as India and China. FDI has further encouraged agricultural activities owing to the usage of automation in these countries, thereby creating a need for efficient agricultural machinery. The automotive industry in regions such as Europe, North America accounts for a significant share of the economies in these regions, says the report. Some of the key players operating in the global farm variable rate technologies market include AGCO Corporation, SZ DJI Technology Co., Ltd., Ag Leader Technology, Deere & Company, CNH Industrial N.V., Trimble, Inc., Raven Industries, Inc., Topcon Corporation, and Yara International ASA.
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