Variable Rate Technology Market Reaching the Growth Phase in Developed Countries by Amanpreet Singh

1 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET res Focus on, Application, Technology, Solution, and Region Analysis and Forecast: 2022 2027 July 2022 Variable RegionalAMarketTechnologyRate-GlobalandAnalysis Table of Content

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3 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET Table of Contents Executive Summary..........................................................................30 Scope of the Study ...........................................................................37 1. Market .......................................................................................39 1.1 Industry Outlook..............................................................................................40 1.1.1 Market Definition 40 1.1.2 Value Chain Analysis..................................................................................42 1.1.3 Ongoing Programs......................................................................................44 1.1.3.1 Government Initiatives 44 1.1.3.2 Key Consortiums and Associations ...................................................................45 1.1.4 Gap Analysis................................................................................................47 1.1.4.1 Financial Barriers 47 1.1.4.2 Technological Barriers.......................................................................................47 1.1.4.3 Environmental Barriers 47 1.1.4.4 Gap Impact Analysis 48 1.1.5 Roadmap for Future Market........................................................................49 1.1.5.1 Expected Farm Consolidation 49 1.1.5.2 Government Support in Variable Rate Technology Adoption 49 1.1.5.3 Expected Demand for VRT Contract Services among Small Farms .................50 1.1.5.4 Growing Millennial Population in Agriculture 50 1.2 Business Dynamics.........................................................................................51 1.2.1 Business Drivers.........................................................................................51 1.2.1.1 Rapid Adoption of Precision Agricultural Technologies 51 1.2.1.2 Need for Automation of Work Force in Agriculture 52 1.2.1.3 Need for Input Optimization in Agriculture.........................................................53 1.2.2 Business Challenges ..................................................................................53 1.2.2.1 Lack of Standardization Hampering VRT Performance 53 1.2.2.2 High Cost of Investment ....................................................................................54 1.2.2.3 Lagging VRT Adoption among Smallholder Farmers 54

4 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 1.2.3 Market Strategies and Developments........................................................55 1.2.3.1 Business Strategies...........................................................................................56 1.2.3.1.1 Product Developments and Innovations 56 1.2.3.1.2 Market Developments 57 1.2.3.2 Corporate Strategies 58 1.2.3.2.1 Mergers and Acquisitions 58 1.2.3.2.2 Partnerships, Collaborations, and Joint Ventures 59 1.2.4 Business Opportunities..............................................................................60 1.2.4.1 Tapping Smallholder Farmer Segment with Affordable VRT Solutions.............60 1.2.4.2 Growing Emphasis on Sustainable Agricultural Production 61 1.3 Start-Up Landscape.........................................................................................62 1.3.1 Key Start-Ups in the Ecosystem ................................................................62 1.3.2 Funding Analysis.........................................................................................65 1.3.2.1 Investment and Funding Analysis 65 1.3.2.2 Top Investors.....................................................................................................66 1.4 Impact of COVID-19 on the Global Variable Rate Technology Market ........67 2. Application ................................................................................68 2.1 Global Variable Rate Technology Market (by Application) ..........................69 2.1.1 Variable Rate Fertilization (VRF)................................................................70 2.1.1.1 Barriers to VRF Adoption 70 2.1.1.2 Drivers in VRF Adoption ....................................................................................70 2.1.1.3 Cost Benefit Analysis 71 2.1.2 Variable Rate Seeding (VRS)......................................................................71 2.1.2.1 Barriers to VRS Adoption...................................................................................72 2.1.2.2 Drivers in VRS Adoption 72 2.1.2.3 Cost Benefit Analysis 72 2.1.3 Variable Rate Irrigation (VRI)......................................................................73 2.1.3.1 Barriers to VRI Adoption 74 2.1.3.2 Drivers in VRI Adoption 74 2.1.3.3 Cost Benefit Analysis 74

5 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 2.1.4 Variable Rate Crop Protection Chemical (VRC)........................................75 2.1.4.1 Barriers to VRC Adoption ..................................................................................75 2.1.4.2 Drivers in VRC Adoption 75 2.1.4.3 Cost Benefit Analysis 75 2.1.5 Others 76 2.2 Demand Analysis of Global Variable Rate Technology Market (by Application)......................................................................................................77 3. Products....................................................................................79 3.1 Global Variable Rate Technology Market (by Technology)..........................80 3.1.1 Map-Based Technology ..............................................................................81 3.1.2 Sensor-Based Technology 82 3.2 Demand Analysis of Global Variable Rate Technology Market (by Technology) .....................................................................................................84 3.3 Innovations in Map-Based and Sensor-Based VRT 85 3.4 Cost-Benefit Analysis......................................................................................85 3.5 Global Variable Rate Technology Market (by Solution) ...............................87 3.5.1 Hardware......................................................................................................88 3.5.2 Software.......................................................................................................89 3.5.3 Service..........................................................................................................90 3.6 Demand Analysis of Global Variable Rate Technology Market (by Solution)...........................................................................................................91 3.7 Patent Analysis................................................................................................91 3.7.1 Patent Analysis (by Patent Objective).......................................................93 3.7.2 Patent Analysis (by Patent Office).............................................................93 4. Regions .....................................................................................95 4.1 North America..................................................................................................98 4.1.1 Market...........................................................................................................98 4.1.1.1 Buyer Attributes 98 4.1.1.2 Key Providers in North America 99 4.1.1.3 Business Challenges.........................................................................................99

6 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.1.1.4 Business Drivers 99 4.1.2 Application.................................................................................................100 4.1.2.1 North America Variable Rate Technology Market (by Application) 100 4.1.3 Technology ................................................................................................100 4.1.3.1 North America Variable Rate Technology Market (by Technology) 100 4.1.4 Solution......................................................................................................101 4.1.4.1 North America Variable Rate Technology Market (by Solution) 101 4.1.5 North America (by Country) .....................................................................101 4.1.5.1 U.S...................................................................................................................101 4.1.5.1.1 Market 102 4.1.5.1.1.1 Buyer Attributes 102 4.1.5.1.1.2 Business Challenges 102 4.1.5.1.1.3 Business Drivers 102 4.1.5.1.2 Application 103 4.1.5.1.2.1 U.S. Variable Rate Technology Market (by Application) ................................ 103 4.1.5.2 Canada 103 4.1.5.2.1 Market 103 4.1.5.2.1.1 Buyer Attributes .............................................................................................. 103 4.1.5.2.1.2 Business Challenges 104 4.1.5.2.1.3 Business Drivers 104 4.1.5.2.2 Application..............................................................................................................104 4.1.5.2.2.1 Canada Variable Rate Technology Market (by Application) 104 4.1.5.3 Mexico 105 4.1.5.3.1 Market....................................................................................................................105 4.1.5.3.1.1 Buyer Attributes 105 4.1.5.3.1.2 Business Challenges 105 4.1.5.3.1.3 Business Drivers............................................................................................. 105 4.1.5.3.2 Application 106 4.1.5.3.2.1 Mexico Variable Rate Technology Market (by Application) 106 4.1.5.4 Rest of North America 106

7 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.1.5.4.1 Market 106 4.1.5.4.1.1 Buyer Attributes .............................................................................................. 106 4.1.5.4.1.2 Business Challenges 106 4.1.5.4.1.3 Business Drivers 107 4.1.5.4.2 Application 107 4.1.5.4.2.1 Rest of North America Variable Rate Technology Market (by Application) 107 4.2 Europe ............................................................................................................109 4.2.1 Market.........................................................................................................109 4.2.1.1 Buyer Attributes 109 4.2.1.2 Key Providers in Europe 110 4.2.1.3 Business Challenges.......................................................................................110 4.2.1.4 Business Drivers 110 4.2.2 Application.................................................................................................111 4.2.2.1 Europe Variable Rate Technology Market (by Application).............................111 4.2.3 Technology ................................................................................................111 4.2.3.1 Europe Variable Rate Technology Market (by Technology) 111 1.1.1 Solution......................................................................................................112 4.2.3.2 Europe Variable Rate Technology Market (by Solution) 112 4.2.4 Europe (by Country)..................................................................................112 4.2.4.1 Germany..........................................................................................................112 4.2.4.1.1 Market 112 4.2.4.1.1.1 Buyer Attributes 113 4.2.4.1.1.2 Business Challenges ...................................................................................... 113 4.2.4.1.1.3 Business Drivers 113 4.2.4.1.2 Application 114 4.2.4.1.2.1 Germany Variable Rate Technology Market (by Application) ........................ 114 4.2.4.2 France 114 4.2.4.2.1 Market 114 4.2.4.2.1.1 Buyer Attributes .............................................................................................. 114

8 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.2.4.2.1.2 Business Challenges 115 4.2.4.2.1.3 Business Drivers............................................................................................. 115 4.2.4.2.2 Application 115 4.2.4.2.2.1 France Variable Rate Technology Market (by Application) 115 4.2.4.3 Italy 116 4.2.4.3.1 Market 116 4.2.4.3.1.1 Buyer Attributes 116 4.2.4.3.1.2 Business Challenges 116 4.2.4.3.1.3 Business Drivers 116 4.2.4.3.2 Application 117 4.2.4.3.2.1 Italy Variable Rate Technology Market (by Application) 117 4.2.4.4 Rest of Europe ................................................................................................117 4.2.4.4.1 Market 117 4.2.4.4.1.1 Buyer Attributes 117 4.2.4.4.1.2 Business Challenges ...................................................................................... 118 4.2.4.4.1.3 Business Drivers 118 4.2.4.4.2 Application 118 4.2.4.4.2.1 Rest of Europe Variable Rate Technology Market (by Application)............... 118 4.3 Asia-Pacific and Japan..................................................................................120 4.3.1 Market.........................................................................................................121 4.3.1.1 Buyer Attributes...............................................................................................121 4.3.1.2 Key Providers in Asia Pacific and Japan 121 4.3.1.3 Business Challenges 121 4.3.1.4 Business Drivers..............................................................................................121 4.3.2 Application.................................................................................................122 4.3.2.1 Asia Pacific and Japan Variable Rate Technology Market (by Application) 122 4.3.3 Technology ................................................................................................122 4.3.3.1 Asia Pacific and Japan Variable Rate Technology Market (by Technology) 122 4.3.4 Solution......................................................................................................123

9 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.3.4.1 Asia Pacific and Japan Variable Rate Technology Market (by Solution) 123 4.3.5 Asia-Pacific and Japan (by Country).......................................................123 4.3.5.1 Japan 123 4.3.5.1.1 Market 124 4.3.5.1.1.1 Buyer Attributes 124 4.3.5.1.1.2 Business Challenges 124 4.3.5.1.1.3 Business Drivers 124 4.3.5.1.2 Application 125 4.3.5.1.2.1 Japan Variable Rate Technology Market (by Application) 125 4.3.5.2 Australia 125 4.3.5.2.1 Market 125 4.3.5.2.1.1 Buyer Attributes 125 4.3.5.2.1.2 Business Challenges 125 4.3.5.2.1.3 Business Drivers 126 4.3.5.2.2 Application..............................................................................................................126 4.3.5.2.2.1 Australia Variable Rate Technology Market (by Application) 126 4.3.5.3 India 126 4.3.5.3.1 Market....................................................................................................................127 4.3.5.3.1.1 Buyer Attributes 127 4.3.5.3.1.2 Business Challenges 127 4.3.5.3.1.3 Business Drivers............................................................................................. 127 4.3.5.3.2 Application 128 4.3.5.3.2.1 India Variable Rate Technology Market (by Application) 128 4.3.5.4 Rest of Asia Pacific and Japan .......................................................................128 4.3.5.4.1 Market 128 4.3.5.4.1.1 Buyer Attributes 128 4.3.5.4.1.2 Business Challenges ...................................................................................... 128 4.3.5.4.1.3 Business Drivers 129 4.3.5.4.2 Application 129

10 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.3.5.4.2.1 Rest of Asia Pacific and Japan Variable Rate Technology Market (by Application)............................................................................................................ 129 4.4 South America ...............................................................................................131 4.4.1 Market.........................................................................................................131 4.4.1.1 Buyer Attributes...............................................................................................131 4.4.1.2 Key Providers in South America 132 4.4.1.3 Business Challenges 132 4.4.1.4 Business Drivers..............................................................................................132 4.4.2 Application.................................................................................................133 4.4.2.1 South America Variable Rate Technology Market (by Application) 133 4.4.3 Technology 133 4.4.3.1 South America Variable Rate Technology Market (by Technology)................133 4.4.4 Solution......................................................................................................134 4.4.4.1 South America Variable Rate Technology Market (by Solution) 134 4.4.5 South America (by Country).....................................................................134 4.4.5.1 Brazil 134 4.4.5.1.1 Market 135 4.4.5.1.1.1 Buyer Attributes 135 4.4.5.1.1.2 Business Challenges 135 4.4.5.1.1.3 Business Drivers 135 4.4.5.1.2 Application..............................................................................................................136 4.4.5.1.2.1 Brazil Variable Rate Technology Market (by Application) 136 4.4.5.2 Argentina 136 4.4.5.2.1 Market....................................................................................................................136 4.4.5.2.1.1 Buyer Attributes 136 4.4.5.2.1.2 Business Challenges 136 4.4.5.2.1.3 Business Drivers............................................................................................. 137 4.4.5.2.2 Application 137 4.4.5.2.2.1 Argentina Variable Rate Technology Market (by Application) 137 4.4.5.3 Rest of South America ....................................................................................137

11 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.4.5.3.1 Market 137 4.4.5.3.1.1 Buyer Attributes .............................................................................................. 137 4.4.5.3.1.2 Business Challenges 138 4.4.5.3.1.3 Business Drivers 138 4.4.5.3.2 Application 138 4.4.5.3.2.1 Rest of South America Variable Rate Technology Market (by Application) 138 4.54.5.1China...............................................................................................................140Market.........................................................................................................141 4.5.1.1 Buyer Attributes 141 4.5.1.2 Key Providers in China 141 4.5.1.3 Business Challenges.......................................................................................141 4.5.1.4 Business Drivers 141 4.5.2 Application.................................................................................................142 4.5.2.1 China Variable Rate Technology Market (by Application) ...............................142 4.5.3 Technology ................................................................................................142 4.5.3.1 China Variable Rate Technology Market (by Technology) 142 4.5.4 Solution......................................................................................................143 4.5.4.1 China Variable Rate Technology Market (by Solution) 143 4.6 Middle East and Africa ..................................................................................145 4.6.1 Market.........................................................................................................146 4.6.1.1 Buyer Attributes 146 4.6.1.2 Key Providers in the Middle East and Africa 146 4.6.1.3 Business Challenges.......................................................................................146 4.6.1.4 Business Drivers 146 4.6.2 Application.................................................................................................147 4.6.2.1 Middle East and Africa Variable Rate Technology Market (by Application).....147 4.6.3 Technology ................................................................................................147 4.6.3.1 Middle East and Africa Variable Rate Technology Market (by Technology) 147 4.6.4 Solution......................................................................................................148

12 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.6.4.1 Middle East and Africa Variable Rate Technology Market (by Solution) 148 4.6.5 Middle East and Africa (by Country)........................................................148 4.6.5.1 Israel 148 4.6.5.1.1 Market 149 4.6.5.1.1.1 Buyer Attributes 149 4.6.5.1.1.2 Business Challenges 149 4.6.5.1.1.3 Business Drivers 149 4.6.5.1.2 Application 149 4.6.5.1.2.1 Israel Variable Rate Technology Market (by Application) 149 4.6.5.2 South Africa 150 4.6.5.2.1 Market 150 4.6.5.2.1.1 Buyer Attributes 150 4.6.5.2.1.2 Business Challenges 150 4.6.5.2.1.3 Business Drivers 150 4.6.5.2.2 Application..............................................................................................................151 4.6.5.2.2.1 South Africa Variable Rate Technology Market (by Application) 151 4.6.5.3 Rest-of-Middle East and Africa 151 4.6.5.3.1 Market....................................................................................................................151 4.6.5.3.1.1 Buyer Attributes 151 4.6.5.3.1.2 Business Challenges 151 4.6.5.3.1.3 Business Drivers............................................................................................. 152 4.6.5.3.2 Application 152 4.6.5.3.2.1 Rest of Middle East and Africa Variable Rate Technology Market (by Application)............................................................................................................ 152 4.7 U.K. .................................................................................................................154 4.7.1 Market.........................................................................................................154 4.7.1.1 Buyer Attributes...............................................................................................154 4.7.1.2 Key Providers in the U.K. 155 4.7.1.3 Business Challenges 155 4.7.1.4 Business Drivers..............................................................................................155

13 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 4.7.2 Application.................................................................................................155 4.7.2.1 U.K. Variable Rate Technology Market (by Application)..................................155 4.7.3 Technology ................................................................................................156 4.7.3.1 U.K. Variable Rate Technology Market (by Technology) 156 4.7.4 Solution 156 4.7.4.1 U.K. Variable Rate Technology Market (by Solution) ......................................156 5. Markets - Competitive Benchmarking & Company Profiles .......157 Markets - Competitive Benchmarking & Company Profiles .................................157 5.1 Competitive Benchmarking ..........................................................................158 5.2 Market Share Analysis ..................................................................................160 5.3 Company Profiles..........................................................................................162 5.3.1 Public Companies .....................................................................................162 5.3.1.1 AGCO Corporation 162 5.3.1.1.1 Company Overview 162 5.3.1.1.2 Role of AGCO Corporation in the Global Variable Rate Technology Market........162 5.3.1.1.3 Product Portfolio 163 5.3.1.1.4 Business Strategies 163 5.3.1.1.4.1 Market Development....................................................................................... 163 5.3.1.1.4.2 Product Development 163 5.3.1.1.5 Corporate Strategies 164 5.3.1.1.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances.......................... 164 5.3.1.1.5.2 Mergers and Acquisitions 164 5.3.1.1.6 R&D Analysis 165 5.3.1.1.7 Analyst View...........................................................................................................165 5.3.1.2 Climate LLC 166 5.3.1.2.1 Company Overview 166 5.3.1.2.2 Role of Climate LLC in the Global Variable Rate Technology Market...................166 5.3.1.2.3 Product Portfolio 166 5.3.1.2.4 Business Strategies 167 5.3.1.2.4.1 Product Development 167

14 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.1.2.5 Corporate Strategies 167 5.3.1.2.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances.......................... 167 5.3.1.2.6 R&D Analysis 168 5.3.1.2.7 Analyst View 168 5.3.1.3 CNH Industrial N.V. 169 5.3.1.3.1 Company Overview 169 5.3.1.3.2 Role of CNH Industrial N.V. in the Global Variable Rate Technology Market 169 5.3.1.3.3 Product Portfolio 169 5.3.1.3.4 Business Strategies 170 5.3.1.3.4.1 Market Development 170 5.3.1.3.4.2 Product Development 171 5.3.1.3.5 Corporate Strategies 171 5.3.1.3.5.1 Mergers and Acquisitions 171 5.3.1.3.6 R&D Analysis 172 5.3.1.3.7 Analyst View...........................................................................................................172 5.3.1.4 Deere & Company 173 5.3.1.4.1 Company Overview 173 5.3.1.4.2 Role of Deere & Company in the Global Variable Rate Technology Market.........173 5.3.1.4.3 Product Portfolio 173 5.3.1.4.4 Business Strategies 174 5.3.1.4.4.1 Market Development....................................................................................... 174 5.3.1.4.4.2 Product Development 174 5.3.1.4.5 Corporate Strategies 175 5.3.1.4.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances.......................... 175 5.3.1.4.5.2 Mergers and Acquisitions 175 5.3.1.4.6 R&D Analysis 175 5.3.1.4.7 Analyst View...........................................................................................................176 5.3.1.5 Farmers Edge Inc 177 5.3.1.5.1 Company Overview 177 5.3.1.5.2 Role of Farmers Edge Inc in the Global Variable Rate Technology Market 177

15 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.1.5.3 Product Portfolio 177 5.3.1.5.4 Business Strategies ...............................................................................................178 5.3.1.5.4.1 Market Development 178 5.3.1.5.4.2 Product Development 178 5.3.1.5.5 Corporate Strategies 179 5.3.1.5.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances 179 5.3.1.5.5.2 Mergers and Acquisitions 180 5.3.1.5.6 R&D Analysis 180 5.3.1.5.7 Analyst View 180 5.3.1.6 Hexagon Agriculture 181 5.3.1.6.1 Company Overview 181 5.3.1.6.2 Role of Hexagon Agriculture in the Global Variable Rate Technology Market 181 5.3.1.6.3 Product Portfolio 181 5.3.1.6.4 Business Strategies 182 5.3.1.6.4.1 Product Development ..................................................................................... 182 5.3.1.6.5 R&D Analysis 182 5.3.1.6.6 Analyst View 182 5.3.1.7 Kubota Corporation..........................................................................................183 5.3.1.7.1 Company Overview 183 5.3.1.7.2 Role of Kubota Corporation in the Global Variable Rate Technology Market 183 5.3.1.7.3 Product Portfolio.....................................................................................................183 5.3.1.7.4 Business Strategies 184 5.3.1.7.4.1 Market Development 184 5.3.1.7.5 Corporate Strategies..............................................................................................184 5.3.1.7.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances 184 5.3.1.7.5.2 Mergers and Acquisitions 184 5.3.1.7.6 R&D Analysis.........................................................................................................185 5.3.1.7.7 Analyst View 185 5.3.1.8 Lindsay Corporation 186 5.3.1.8.1 Company Overview 186

16 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.1.8.2 Role of Lindsay Corporation in the Global Variable Rate Technology Market 186 5.3.1.8.3 Product Portfolio.....................................................................................................186 5.3.1.8.4 Business Strategies 187 5.3.1.8.4.1 Product Development 187 5.3.1.8.5 Corporate Strategies 187 5.3.1.8.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances 187 5.3.1.8.5.2 Mergers and Acquisitions 188 5.3.1.8.6 R&D Analysis 188 5.3.1.8.7 Analyst View 188 5.3.1.9 Topcon Corporation 189 5.3.1.9.1 Company Overview 189 5.3.1.9.2 Role of Topcon Corporation in the Global Variable Rate Technology Market 189 5.3.1.9.3 Product Portfolio 189 5.3.1.9.4 Business Strategies 190 5.3.1.9.4.1 Market Development....................................................................................... 190 5.3.1.9.4.2 Product Development 191 5.3.1.9.5 Corporate Strategies 191 5.3.1.9.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances.......................... 191 5.3.1.9.6 R&D Analysis 192 5.3.1.9.7 Analyst View 192 5.3.1.10 Trimble Inc.......................................................................................................193 5.3.1.10.1 Company Overview 193 5.3.1.10.2 Role of Trimble Inc. in the Global Variable Rate Technology Market 193 5.3.1.10.3 Product Portfolio.....................................................................................................193 5.3.1.10.4 Business Strategies 194 5.3.1.10.4.1Market Development 194 5.3.1.10.4.2Product Development ..................................................................................... 195 5.3.1.10.5 Corporate Strategies 195 5.3.1.10.5.1Partnerships, Joint Ventures, Collaborations, and Alliances 195 5.3.1.10.5.2Mergers and Acquisitions 196

17 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.1.10.6 R&D Analysis 196 5.3.1.10.7 Analyst View...........................................................................................................196 5.3.1.11 Valmont Industries 198 5.3.1.11.1 Company Overview 198 5.3.1.11.2 Role of Valmont Industries in the Global Variable Rate Technology Market 198 5.3.1.11.3 Product Portfolio 198 5.3.1.11.4 Business Strategies 199 5.3.1.11.4.1Market Development 199 5.3.1.11.4.2Product Development 199 5.3.1.11.5 Corporate Strategies 199 5.3.1.11.5.1Partnerships, Joint Ventures, Collaborations, and Alliances 199 5.3.1.11.5.2Mergers and Acquisitions 200 5.3.1.11.6 R&D Analysis 200 5.3.1.11.7 Analyst View 200 5.3.1.12 Yara International ............................................................................................201 5.3.1.12.1 Company Overview 201 5.3.1.12.2 Role of Yara International in the Global Variable Rate Technology Market 201 5.3.1.12.3 Product Portfolio.....................................................................................................201 5.3.1.12.4 Business Strategies 202 5.3.1.12.4.1Product Development 202 5.3.1.12.5 Corporate Strategies..............................................................................................202 5.3.1.12.5.1Partnerships, Joint Ventures, Collaborations, and Alliances 202 5.3.1.12.5.2Mergers and Acquisitions 203 5.3.1.12.6 R&D Analysis.........................................................................................................203 5.3.1.12.7 Analyst View 203 5.3.2 Private Companies....................................................................................204 5.3.2.1 Ag Leader Technology.....................................................................................204 5.3.2.1.1 Company Overview 204 5.3.2.1.2 Role of Ag Leader Technology in the Global Variable Rate Technology Market ...............................................................................................................................204

18 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.2.1.3 Product Portfolio 204 5.3.2.1.4 Business Strategies ...............................................................................................205 5.3.2.1.4.1 Product Development 205 5.3.2.1.5 Analyst View 205 5.3.2.2 Crop Quest Inc 206 5.3.2.2.1 Company Overview 206 5.3.2.2.2 Role of Crop Quest Inc in the Global Variable Rate Technology Market 206 5.3.2.2.3 Product Portfolio 206 5.3.2.2.4 Business Strategies 207 5.3.2.2.4.1 Market Development 207 5.3.2.2.5 Analyst View 207 5.3.2.3 DJI ...................................................................................................................208 5.3.2.3.1 Company Overview 208 5.3.2.3.2 Role of DJI in the Global Variable Rate Technology Market 208 5.3.2.3.3 Product Portfolio.....................................................................................................208 5.3.2.3.4 Business Strategies 209 5.3.2.3.4.1 Product Development 209 5.3.2.3.5 Analyst View...........................................................................................................209 5.3.3 Start-Up Companies..................................................................................210 5.3.3.1 CropX Inc. 210 5.3.3.1.1 Company Overview................................................................................................210 5.3.3.1.2 Role of CropX Inc. in the Global Variable Rate Technology Market 210 5.3.3.1.3 Product Portfolio 210 5.3.3.1.4 Business Model of CropX Inc.................................................................................211 5.3.3.1.5 Business Strategies 211 5.3.3.1.5.1 Product Development 211 5.3.3.1.6 Corporate Strategies..............................................................................................212 5.3.3.1.6.1 Partnerships, Joint Ventures, Collaborations, and Alliances 212 5.3.3.1.6.2 Mergers and Acquisitions 212 5.3.3.1.7 Analyst View 212

19 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.3.2 DataFarming Pty Ltd 214 5.3.3.2.1 Company Overview................................................................................................214 5.3.3.2.2 Role of DataFarming Pty Ltd in the Global Variable Rate Technology Market 214 5.3.3.2.3 Product Portfolio 214 5.3.3.2.4 Business Model of DataFarming Pty Ltd 215 5.3.3.2.5 Business Strategies 215 5.3.3.2.5.1 Product Development 215 5.3.3.2.6 Analyst View 216 5.3.3.3 HUMMINGBIRD TECHNOLOGIES LIMITED..................................................217 5.3.3.3.1 Company Overview 217 5.3.3.3.2 Role of HUMMINGBIRD TECHNOLOGIES LIMITED in the Global Variable Rate Technology Market 217 5.3.3.3.3 Product Portfolio 217 5.3.3.3.4 Business Model of HUMMINGBIRD TECHNOLOGIES LIMITED 218 5.3.3.3.5 Business Strategies 218 5.3.3.3.5.1 Market Development 218 5.3.3.3.5.2 Product Development 219 5.3.3.3.6 Corporate Strategies 219 5.3.3.3.6.1 Partnerships, Joint Ventures, Collaborations, and Alliances 219 5.3.3.3.7 Analyst View 219 5.3.3.4 OneSoil............................................................................................................221 5.3.3.4.1 Company Overview 221 5.3.3.4.2 Role of OneSoil in the Global Variable Rate Technology Market 221 5.3.3.4.3 Product Portfolio.....................................................................................................222 5.3.3.4.4 Business Model of OneSoil 222 5.3.3.4.5 Business Strategies 223 5.3.3.4.5.1 Market Development....................................................................................... 223 5.3.3.4.5.2 Product Development 224 5.3.3.4.6 Corporate Strategies 224 5.3.3.4.6.1 Partnerships, Joint Ventures, Collaborations, and Alliances.......................... 224

20 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET 5.3.3.4.7 Analyst View 225 5.3.3.5 Sentera............................................................................................................226 5.3.3.5.1 Company Overview 226 5.3.3.5.2 Role of Sentera in the Global Variable Rate Technology Market 226 5.3.3.5.3 Product Portfolio 226 5.3.3.5.4 Business Model of Sentera 227 5.3.3.5.5 Corporate Strategies 227 5.3.3.5.5.1 Partnerships, Joint Ventures, Collaborations, and Alliances 227 5.3.3.5.5.2 Mergers and Acquisitions 228 5.3.3.5.6 Analyst View 228 5.3.4 Other Key Players......................................................................................229 6. Research Methodology ............................................................230 6.1 Data Sources..................................................................................................230 6.1.1 Primary Data Sources...............................................................................230 6.1.2 Secondary Data Sources ..........................................................................230 6.2 Market Estimation and Forecast...................................................................232 6.2.1 Factors for Data Prediction and Modeling ..............................................232

Figure 20: Share of Top Investors in the Global Variable Rate Technology Market, January 2018 May 2022

Figure 4: Global Variable Rate Technology Market (by Technology), $Million, 2021 2027

Figure 2: Market Dynamics of the Global Variable Rate Technology Market

Figure 6: Global Variable Rate Technology Market (by Region), $Million, 2021 7: Global Variable Rate Technology Market Coverage

Figure 8: VRT in Precision Agriculture Technology

Figure 11: Impact of Gaps in Variable Rate Technology Adoption (2021 2027)

Figure 21: Patents Filed or Granted for Variable Rate Technology Market, January 2018 May 2022

Figure 23: Patent Analysis (by Patent Office), January 2018 May 2022

Figure 24: North America Variable Rate Technology Market, $Million, 2021 2027

Figure 16: Share of Market Developments (by Company), January 2019 June 2022

Figure 10: Value Chain of the Global Variable Rate Technology Market

Figure 14: Share of Key Market Strategies and Developments, January 2019 June 2022

Figure 3: Global Variable Rate Technology Market (by Application), $Million, 2021 2027

Figure 13: Employment in Agriculture (Percentage of Total Employment), 2015 2019

Figure 25: Competitive Benchmarking Matrix for Key Variable Rate Technology Providers

Figure 22: Patents (by Patent Objective), January 2018 May 2022

Figure

Figure 5: Global Variable Rate Technology Market (by Solution), $Million, 2021 2027

Figure 15: Share of Product Developments and Innovations (by Company), January 2019 June 2022

Figure Global Variable Rate Technology Market, $Billion, 2021-2027

Figure 17: Share of Mergers and Acquisitions (by Company), January 2019 June 2022

Figure 9: Functional Diagram of Variable Rate Technology

Figure 18: Share of Partnerships, Collaborations, and Joint Ventures (by Company), January 2019 June 2022

Figure 12: Adoption of Key Precision Agriculture Technologies by the U.S. and Other Global Countries, 2021

Figure 19: Investment and Funding in Global Variable Rate Technology Market, January 2018 May 2022

22 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET Figure 26: Market Share Analysis of Global Variable Rate Technology Market, 2021 Figure 27: Global Variable Rate Technology Market: Research Methodology Figure 28: Top Down and Bottom Up Approach Figure 29: Assumptions and Limitations

23 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET List of Tables Table 1: Government Initiatives Table 2: Key Consortiums and Associations in the Global Variable Rate Technology Market Table 3: Government Initiatives for Sustainable Food Production Table 4: Key Start Ups in the Global Variable Rate Technology Market Table 5: Overview of VRT by Application Table 6: Key Companies Providing VRF Products Table 7: Key Companies Providing VRS Products Table 8: Types of VRI Table 9: Key Companies Providing VRI Products Table 10: Cost Benefit Analysis of VRC Table 11: Key Companies Providing VRC Products Table 12: Key Companies Providing Other Applications in VRT Table 13: Global Variable Rate Technology Market (by Application), $Million, 2021 2027 Table 14: Outline of Input Methodologies in VRT Table 15: Types of Data Collection in Map Based VRT Table 16: Key Companies Providing Map Based Products Table 17: Key Companies Providing Sensor Based Products Table 18: Global Variable Rate Technology Market (by Technology), $Million, 2021 2027 Table 19: Comparison of Map Based and Sensor Based VRT Table 20: Types of VRT Solutions and Revenue Recognition Table 21: Key Companies Providing Variable Rate Hardware Products Table 22: Key Companies Providing Variable Rate Software Products Table 23: Global Variable Rate Technology Market (by Solution), $Million, 2021 2027 Table 24: Global Variable Rate Technology Market (by Region), $Million, 2021 2027 Table 25: North America Variable Rate Technology Market (by Application), $Million, 2021 2027 Table 26: North America Variable Rate Technology Market (by Technology), $Million, 2021 2027 Table 27: North America Variable Rate Technology Market (by Solution), $Million, 2021 2027 Table 28: North America Variable Rate Technology Market (by Country), $Million, 2021 2027 Table 29: U.S. Variable Rate Technology Market (by Application), $Million, 2021 2027 Table 30: Canada Variable Rate Technology Market (by Application), $Million, 2021 2027 Table 31: Mexico Variable Rate Technology Market (by Application), $Million, 2021 2027

43:

55:

Table Rest of North America Variable Rate Technology Market (by Application), $Million, 2021 2027

Table Argentina Variable Rate Technology Market (by Application), $Million, 2021 2027

Table 41: Rest of Europe Variable Rate Technology Market (by Application), $Million, 2021 2027

Table South America Variable Rate Technology, $Million, 2021 2027

Table Rest of Asia Pacific and Japan Variable Rate Technology Market (by Application), $Million, 2021 2027

Table 33: Europe Variable Rate Technology Market, $Million, 2021 2027

40:

Table 42: Asia Pacific and Japan Variable Rate Technology, $Million, 2021 2027

Table Japan Variable Rate Technology Market (by Application), $Million, 2021 2027

Table Germany Variable Rate Technology Market (by Application), $Million, 2021 2027

38:

Table 35: Europe Variable Rate Technology Market (by Technology), $Million, 2021 2027

46:

Table 36: Europe Variable Rate Technology Market (by Solution), $Million, 2021 2027

Table 53: South America Variable Rate Technology Market (by Technology), $Million, 2021 2027

39:

Table Italy Variable Rate Technology Market (by Application), $Million, 2021 2027

Table

Table 54: South America Variable Rate Technology Market (by Solution), $Million, 2021 2027

Table 48: Australia Variable Rate Technology Market (by Application), $Million, 2021 2027

57:

50:

Table Asia Pacific and Japan Variable Rate Technology Market (by Application), $Million, 2021 2027

45:

32:

Table 49: India Variable Rate Technology Market (by Application), $Million, 2021 2027

51:

56:

47:

Table 37: Europe Variable Rate Technology Market (by Country), $Million, 2021 2027

TECHNOLOGYRATEVARIABLEMARKET

Table 34: Europe Variable Rate Technology Market (by Application), $Million, 2021 2027

Table Asia Pacific and Japan Variable Rate Technology Market (by Solution), $Million, 2021 2027

Table 44: Asia Pacific and Japan Variable Rate Technology Market (by Technology), $Million, 2021 2027

Table France Variable Rate Technology Market (by Application), $Million, 2021 2027

Table South America Variable Rate Technology Market (by Country), $Million, 2021 2027

Table Brazil Variable Rate Technology Market (by Application), $Million, 2021 2027

Table Rest of South America Variable Rate Technology Market (by Application), $Million, 2021 2027 59: China Variable Rate Technology Market, $Million, 2021 2027

58:

Table Asia Pacific and Japan Variable Rate Technology Market (by Country), $Million, 2021 2027

Table 52: South America Variable Rate Technology Market (by Application), $Million, 2021 2027

TECHNOLOGYRATEVARIABLEMARKET

Table 62:

Table

Table 74:

Table 75: AGCO Corporation: Product Portfolio Table 76: AGCO Corporation: Market Development Table 77: AGCO Corporation: Product Development Table 78: AGCO Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances Table 79: AGCO Corporation: Mergers and Acquisitions Table 80: Climate LLC: Product Portfolio Table 81: Climate LLC: Product Development Table 82: Climate LLC: Partnerships, Joint Ventures, Collaborations, and Alliances Table 83: CNH Industrial N.V.: Product Portfolio Table 84: CNH Industrial N.V.: Market Development Table 85: CNH Industrial N.V.: Product Development Table 86: CNH Industrial N.V.: Mergers and Acquisitions Table 87: Deere & Company: Product Portfolio Table 88: Deere & Company: Market Development Table 89: Deere & Company: Product Development

70:

Table 72:

Table Rest of Middle East and Africa Variable Rate Technology Market (by Application), $Million, 2021 2027 U.K. Variable Rate Technology Market, $Million, 2021 2027 U.K. Variable Rate Technology Market (by Application), $Million, 2021 2027 U.K. Variable Rate Technology Market (by Technology), $Million, 2021 2027 U.K. Variable Rate Technology Market (by Solution), $Million, 2021 2027

Table 73:

Table China Variable Rate Technology Market (by Application), $Million, 2021 2027 China Variable Rate Technology Market (by Technology), $Million, 2021 2027 China Variable Rate Technology Market (by Solution), $Million, 2021 2027 Middle East and Africa Variable Rate Technology Market, $Million, 2021-2027 Middle East and Africa Variable Rate Technology Market (by Application), $Million, 2021 2027 Middle East and Africa Variable Rate Technology Market (by Technology), $Million, 2021 2027 Middle East and Africa Variable Rate Technology Market (by Solution), $Million, 2021 2027 Middle East and Africa Variable Rate Technology Market (by Country), $Million, 2021 2027 68: Israel Variable Rate Technology Market (by Application), $Million, 2021 2027 69: South Africa Variable Rate Technology Market (by Application), $Million, 2021 2027

Table 66:

60:

Table 61:

Table 65:

Table 64:

Table

Table 67:

Table 71:

Table 63:

26 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET Table 90: Deere & Company: Partnerships, Joint Ventures, Collaborations, and Alliances Table 91: Deere & Company: Mergers and Acquisitions Table 92: Farmers Edge Inc: Product Portfolio Table 93: Farmers Edge Inc: Market Development Table 94: Farmers Edge Inc: Product Development Table 95: Farmers Edge Inc: Partnerships, Joint Ventures, Collaborations, and Alliances Table 96: Farmers Edge Inc: Mergers and Acquisitions Table 97: Hexagon Agriculture: Product Portfolio Table 98: Hexagon Agriculture: Product Development Table 99: Kubota Corporation: Product Portfolio Table 100: Kubota Corporation: Market Development Table 101: Kubota Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances Table 102: Kubota Corporation: Mergers and Acquisitions Table 103: Lindsay Corporation: Product Portfolio Table 104: Lindsay Corporation: Product Development Table 105: Lindsay Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances Table 106: Lindsay Corporation: Mergers and Acquisitions Table 107: Topcon Corporation: Product Portfolio Table 108: Topcon Corporation: Market Development Table 109: Topcon Corporation: Product Development Table 110: Topcon Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances Table 111: Trimble Inc.: Product Portfolio Table 112: Trimble Inc.: Market Development Table 113: Trimble Inc.: Product Development Table 114: Trimble Inc.: Partnerships, Joint Ventures, Collaborations, and Alliances Table 115: Trimble Inc.: Mergers and Acquisitions Table 116: Valmont Industries: Product Portfolio Table 117: Valmont Industries: Market Development Table 118: Valmont Industries: Product Development Table 119: Valmont Industries: Partnerships, Joint Ventures, Collaborations, and Alliances Table 120: Valmont Industries: Mergers and Acquisitions Table 121: Yara International: Product Portfolio Table 122: Yara International: Product Development

27 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET Table 123: Yara International: Partnerships, Joint Ventures, Collaborations, and Alliances Table 124: Yara International: Mergers and Acquisitions Table 125: Ag Leader Technology: Product Portfolio Table 126: Ag Leader Technology: Product Development Table 127: Crop Quest Inc: Product Portfolio Table 128: Crop Quest Inc: Market Development Table 129: DJI: Product Portfolio Table 130: DJI: Product Development Table 131: CropX Inc.: Product Portfolio Table 132: CropX Inc.: Business Model Table 133: CropX Inc.: Product Development Table 134: CropX Inc.: Partnerships, Joint Ventures, Collaborations, and Alliances Table 135: CropX Inc.: Mergers and Acquisitions Table 136: DataFarming Pty Ltd: Product Portfolio Table 137: DataFarming Pty Ltd: Business Model Table 138: DataFarming Pty Ltd: Product Development Table 139: HUMMINGBIRD TECHNOLOGIES LIMITED: Product Portfolio Table 140: HUMMINGBIRD TECHNOLOGIES LIMITED: Business Model Table 141: HUMMINGBIRD TECHNOLOGIES LIMITED: Market Development Table 142: HUMMINGBIRD TECHNOLOGIES LIMITED: Product Development Table 143: HUMMINGBIRD TECHNOLOGIES LIMITED: Partnerships, Joint Ventures, Collaborations, and Alliances Table 144: OneSoil: Product Portfolio Table 145: OneSoil: Business Model Table 146: OneSoil: Market Development Table 147: OneSoil: Product Development Table 148: OneSoil: Partnerships, Joint Ventures, Collaborations, and Alliances Table 149: Sentera: Product Portfolio Table 150: Sentera: Business Model Table 151: Sentera: Partnerships, Joint Ventures, Collaborations, and Alliances Table 152: Sentera: Mergers and Acquisitions Table 153: Other Key Players in the Variable Rate Technology Market

28 All rights reserved at BIS Research Inc. TECHNOLOGYRATEVARIABLEMARKET BIS Research Offerings: We are on a mission to harness the potential of disruptive technologies to make businesses thrive in today’s digital age. We have the vision to be a leading and preferred knowledge partner for corporates and institutions worldwide and assist them with market intelligence in the area of emerging technologies, advisories, and other innovative solutions. Know More Know KnowMoreMore Know More

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