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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Agricultural Variable Rate Technology Global Market Report 2022' -
, Kubota Corporation, Lindsay Corporation, Ageagle Aerial Systems, and Hexagon.
The global agricultural variable rate technology market is expected to grow from $3.06 billion in 2021 to $3.47 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The agricultural variable rate technology market is expected to grow to $6.25 billion in 2026 at a CAGR of 15.8%.
The agricultural variable rate technology market consists of sales of agricultural variable rate technology by entities (organizations, sole traders, and partnerships), which refers to a branch of technology concerned with the automated application which mainly focuses on the automated application that is used in agriculture.The agricultural data is collected by sensors, maps, and GPS.
These technologies are used to spray fertilizers, and chemicals and to plant seeds these agricultural variable rate technologies help to manage crop production.
The main types of agricultural variable rate technology are soil sensing variable rate technology, fertilizer variable rate technology, seeding variable rate technology, crop protection chemical variable rate technology, yield monitor variable rate technology, and irrigation variable rate technology.Sensor-based variable rate technology doesn't use a map at all but rather mounted sensors that measure soil properties or crop characteristics in real-time.
The crops used in agricultural variable rate technology are cereals and grains, oilseeds and pulses, fruits and vegetables that can be used in large farms, small farms, mid-size farms in fertilizers, crop protection chemicals, soil sensing, yield monitoring, irrigation.
North America was the largest region in the agricultural variable rate technology market in 2021. The regions covered in the agricultural variable rate technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The agricultural variable rate technology market research report is one of a series of new reports that provides agricultural variable rate technology market statistics, including agricultural variable rate technology industry global market size, regional shares, competitors with a agricultural variable rate technology market share, detailed agricultural variable rate technology market segments, market trends and opportunities, and any further data you may need to thrive in the agricultural variable rate technology industry. This agricultural variable rate technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Increasing government expenditures and policymaking in the agricultural sector are significantly driving the growth of the agricultural variable rate technology market.The agricultural variable rate technology refers to an area of technology that focuses on the automated application that is used in agriculture.
Using technology in agriculture will reduce the labor cost by 80 percent.Spraying of pesticides by using drones is the latest technology in agriculture which had gained popularity it also helps in many other ways in agriculture.
For instance, In January 2022 government of India announced a 100% subsidy for drones up to the value of 10 lakhs this scheme is launched to promote drones usage in agriculture and to decrease the labor burden on the farmers Krishi Vigyan Kendras & State Agriculture Universities had also started giving training to farmers. The government had allocated a contingency fund of Rs.6000/hectare will also be given for hiring Drones from Custom Hiring Centres (CHC). Thus, the increase in government policy and spending on technologies in agriculture helps in the growth of the agricultural variable rate technology market.
Technological advancement are shaping the agricultural variable rate technology market.Major companies operating in the agricultural variable rate technology market sector are focused on developing new technological solutions to strengthen their position.
For instance, in February 2021, XAG, a China-based company that manufactures agricultural machinery, launched a new generation of agricultural drones named XAG P40 Agricultural Drone which is designed especially for smallholder farms.XAG P40 can support a 20L smart liquid tank and cover 15 hectares of land per hour and the second model is called AG P80.
Agricultural Drone which is designed for large field areas this drone can carry up to 40 kg and can cover up to 20 hectares of land in 1 hour. This helps in protecting lands from weeds, pests, and diseases this new launch can help medium-to-large farm owners address the rural labor shortage.
In November 2021, CNH Industrial is a UK-based company that designs, produces, and also sells agricultural technology products acquired by Raven Industries for an undisclosed amount.With this acquisition, Raven Industries will become part of CNH Industrial and works under CNH Industrial.
This acquisition will add strong innovation capabilities which helps to accelerate digital strategy. Raven is a US-based precision agriculture space and technology manufacturer of agriculture products company
The countries covered in the agricultural variable rate technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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