Growth opportunities in the Livestock Monitoring Market look promising over the next six years. This is mainly due to the increasing implementation of Artificial intelligence and the Internet of Things by farmers and the soaring awareness about the benefits of disease detection.
Livestock Monitoring Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting acquisition of IoT and AI by dairy farmers, along with the rising consciousness towards the advantages offered by livestock monitoring and disease recognition, are some of the prominent drivers responsible for the growth of the global livestock monitoring market. The technology allows the farmers to detect the disease in animals to take the required actions. The launch of smart technologies in livestock farming collects real-time data related to animal’s health and general behavior.
The surge in demand for animal products such as milk, meats, and eggs stimulate the market growth. Asia accorded approximately 40 to 45% of the market for the overall meat production. In accordance with the Australian Bureau of Agriculture and Resources Economies and Science, China is anticipated to experience a 40 % increase in meat demand by the end of 2050. Moreover, the growing emphasis on R&D activities is further supporting the market growth. DeLaval, in 2018, established the DeLavanInService All-Inclusive solutions to provide services and consumables to dairy farmers. However, the lack of understanding of technology and insufficient among farmers will obstruct the market size.
Application Segment Drivers
Based on the application, behavior monitoring & controls is projected to expand at a higher CAGR during the forecast period. This is attributed to the rising acceptance of hardware devices such as sensors, RFID, tags & readers, livestock RFID active collars for early recognition of diseases, administration of the herd, and livestock tracking to promote market growth. Additionally, the escalation apprehension about the livestock monitoring technology accompanied by the growing prominence of software solutions for animal behavior and health monitoring are propelling the market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to lead the market during the forecast period. This is because of the accelerating penetration of the internet and the intensifying development of technologies. The highest meat consumption in 2018 was recorded in the U.S., which boosted the requirement to protect zoonotic and foodborne diseases related to the livestock animals, thus bolstering the market growth.
Livestock Monitoring Market’s leading Manufacturers:
- Fullwood Packo
- Lely
- Merck & Co. Inc.
- Nedap N.V.
- DeLaval Inc.
- Fancom BV
- DAIRYMASTER
- BouMatic
- Afimilk Ltd.
- GEA Group Aktiengesellschaft
Livestock Monitoring Market Segmentation:
Segmentation by Offering
- Hardware
- Software
- Services
Segmentation by Livestock Type
- Cattle
- Poultry
- Swine
- Equine
- Others
Segmentation by Farm Size
- Small Farms
- Med-sized Farms
- Large Farms
Segmentation by Application
- Milk Harvesting Management
- Breeding Management
- Feeding Management
- Heat Stress Management
- Animal Comfort Management
- Behaviour Monitoring & Control
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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