Newark, July 25, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global livestock monitoring market is expected to grow from USD 3.02 billion in 2021 to USD 9.45 billion by 2030, at a CAGR of 13.51% during the forecast period 2022-2030.
The increase in cattle population coupled with the increasing adoption of livestock monitoring technology are anticipated to expand the demand for the livestock monitoring enterprise during the projection period. Moreover, the growing numbers of dairy farms, technological innovations leading to data-driven decisions, and the incidences of zoonotic diseases among livestock are also helping to propel market growth. However, the lack of skilled experts in emerging economies, capital investment, and environmental issues are restraining factors of market growth. Furthermore, the rapid development of cattle for health monitoring solutions is an opportunity for market growth.
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Competitive Strategy
To enhance their market position in the global livestock monitoring market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in March 2021, GEA Company launched DairyNet, that is a farm and new herd management solution, and it would be accessible for consumption amidst the GEA DairyRobot R9500.
Market Growth & Trends
The growth of the livestock monitoring market is driven by the raised adoption of IoT allowed devices for real-time monitoring. Further, the growing focus on livestock monitoring and disease detection among animals and the ever-increasing demand for dairy & meat products worldwide also help to drive market growth. Moreover, the high penetration of the internet of things (IoT) is the market growth trend. Thus, the loT technology is anticipated to significantly enhance the farming & livestock enterprise and meet food demand. Additionally, in livestock monitoring, innovative loT-based technology & applications are executed to raise operating performance, optimize returns, and decrease loss by collecting data on the cattle in data analytics, real-time, and control mechanisms. Furthermore, the increasing awareness concerning animal nutrition, genetic breeding, and milk harvesting is expected to drive market growth. However, the necessities for remote livestock monitoring also drive the market growth during the forecast period.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR | 7.9% |
| 2030 Value Projection | USD 13.4 Billion |
| Base Year | 2021 |
| Nutricosmetics Market Size in 2021 | USD 6.8 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 135 |
| Segments covered | Product Type, Distribution Channel, Application |
| Nutricosmetics Market Growth Drivers | Costumers' inclination towards natural products |
| Increasing demand in the healthcare sector |
Key Findings
• In 2021, the feeding management segment dominated the market with the largest market share of 20.27% and market revenue of 0.61 billion.
The application segment is divided into heat detection monitoring, health monitoring management, milk harvesting management, heat stress management, sorting and weighing management, and feeding management. In 2021, the feeding management segment dominated the market with the largest market share of 20.27% and market revenue of 0.61 billion. This growth is attributed to the increasing demand for dairy & meat products globally. Further, by 2030, the milk harvesting management segment will likely dominate the market due to the enormous scope for expansion with significant corporate investments.
• In 2021, the hardware segment dominated the market with the largest market share of 41.13% and revenue of 1.24 billion.
The offering segment is divided into services, software, and hardware. In 2021, the hardware segment dominated the market with the largest market share of 41.13% and revenue of 1.24 billion. This growth is attributed to the increasing adoption of livestock monitoring solutions on large farms.
• In 2021, the cattle segment dominated the market with the largest market share of 27.18% and market revenue of 0.82 billion.
The livestock type segment comprises poultry, cattle, equine, swine, and others. In 2021, the cattle segment dominated the market with the largest market share of 27.18% and market revenue of 0.82 billion. This growth is attributed to the risen adoption of livestock monitoring solutions that facilitate automatic data capture. Further, by 2030, the poultry segment will likely dominate the market due to the high daily consumption of poultry products.
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Regional Segment Analysis of the Livestock Monitoring Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global livestock monitoring industry, with a market share of 49.35% and a market value of around 1.49 billion in 2021. North America currently dominates the livestock monitoring market due to the presence of key regional participants. Moreover, the high investment in animal health care prices helps drive the region's market growth. Furthermore, the Asia Pacific region is expected to show the fastest CAGR of 15.17% over the projection period. This growth is attributed to the subsequent increase in demand for meat and dairy products and the efficient interpretation of data offered by software platforms & mobile applications. Also, the rising government expenditure on the healthcare sector and the rapid proliferation of manufacturing installations in emerging nations like India & China are helping boost market growth during the forecast period. Moreover, the rising penetration of IoT in animal monitoring applications is also driving the market growth in this region.
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Key players operating in the global livestock monitoring market are:
• Boumatic
• Allflex Livestock Intelligence (Subsidiary of MSD Animal Health)
• Nedap N.V.
• Delaval
• Cowmanager B.V.
• Afimilk Ltd.
• Herdinsights (Subsidiary of Datamars)
• Engs Systems
• Smaxtec Animal Care GmbH
• Zoetis
• Sum-It Computer Systems
• Dairymaster
• Cainthus
• Serket
• Vas
• Fullwood Packo
• Gallagher Group Limited
• Moocall
• Stellapps Technologies
• Connecterra B.V.
• Hokofarm Group
• Icerobotics
• Faromatics
• Cowlar
• Sensaphone
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global livestock monitoring market based on below mentioned segments:
Global Livestock Monitoring Market by Application:
• Heat Detection Monitoring
• Health Monitoring Management
• Milk Harvesting Management
• Heat Stress Management
• Sorting and Weighing Management
• Feeding Management
Global Livestock Monitoring Market by Offering:
• Services
• Software
• Hardware
Global Livestock Monitoring Market by Livestock Type:
• Poultry
• Cattle
• Equine
• Swine
• Others
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About the report:
The global livestock monitoring market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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