Livestock Monitoring Market Exhibits a Revenue CAGR of 14.3% During the Forecast Period 2023 - 2031 | Growth Plus Reports

Newark, New Castle, USA, April 11, 2023 (GLOBE NEWSWIRE) -- As per the report by Growth Plus Reports, the global livestock monitoring market is expected to register a revenue CAGR of 14.3% by 2031.

The global livestock monitoring market was valued and expected to rise with a significant revenue share during the forecast period. Data collection on animal production, behavior, and health choices concerning herd management, medical care, and breeding. Livestock monitoring includes sensors, data analytics, and networking. 

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                                    Livestock Monitoring Market Scope

Recent Development in Livestock Monitoring Market: 

• In January 2022, the SenseHub beef and dairy cow monitoring systems from Allflex Livestock Intelligence were updated, and they will now be offered as a subscription-based service. The 'GO' service will provide farmers with an easy and affordable way to use the SenseHub monitoring system from Allflex Livestock Intelligence without having to pay any upfront costs. 
• In February 2021, the purchase of PrognostiX Poultry Limited, which conducts business as Poultry Sense Ltd., by Merck Animal Health, was completed successfully. By the strategic goal of the firm, Merck Animal Health Intelligence, a newly established division devoted to animal health intelligence and data knowledge, has combined the product range of Poultry Sense Ltd.

Key Takeaways: 

• The rising population of livestock is driving the market revenue expansion. 
• The advances in technology for sophisticated livestock monitoring are boosting market revenue growth. 
• Growing awareness for animal welfare is increasing the demand for livestock monitoring.

Market Drivers and Restraints: 

The global livestock monitoring market revenue is driven by the growing population awareness of animal welfare and growing concerns regarding livestock conditions. Furthermore, the significant government regulations in developed economies focus on the environmental impact of livestock farming, boosting the market revenue share. 

However, the high costs and limited connectivity are restraining the market revenue growth. 

Market Segmentation: 

Segmentation By Animal Type

Based on animal type, the global livestock monitoring market is segmented into cattle, poultry, swine, equine, and others. The cattle segment accounts for the largest market revenue share, as cattle farming is among the largest livestock industries globally. Furthermore, rising demand for high-quality beef and dairy products drives the segment's revenue share. 

Segmentation By Component

Based on the component, the global livestock monitoring market is segmented into hardware, software, and services. The hardware segment accounts for the largest revenue share in the global market due to the range of sensors, such as GPS trackers, accelerometers, temperature sensors, cameras, and other imaging devices. 

Segmentation By Application

Based on the application, the global livestock monitoring market is segmented into milk harvesting, feeding management, breeding management, animal health, monitoring & comfort, and others. The feeding management segment accounts for the largest revenue share in the global market. This large revenue share is attributed to their specialized technologies for monitoring feed intake, improving the overall health and productivity of the animals, and reducing costs. 

Regional Growth Dynamics

Based on the region, the global livestock monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounts for the largest revenue share in the global market due to many livestock operations and several companies involved in partnerships, mergers, and acquisition activities. 

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Competitive Landscape

A list of the market player operating in the global livestock monitoring market are: 

• Merck & Co. Inc.
• BouMatic
• Zoetis
• Afimilk Ltd.
• Merck & Co.

Report Coverage 

The report analyzes basic market fundamentals and dynamics, strategies, key investment areas, regional growth analytics, revenue forecast, significant market players, and collaborations. Additionally, the study provides a comprehensive discussion of the global future of the livestock monitoring market. 

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
   4. Reimbursements
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL LIVESTOCK MONITORING MARKET - ANALYSIS & FORECAST, BY ANIMAL TYPE
   1. Cattle
   2. Poultry
   3. Swine
   4. Equine
   5. Others
6. GLOBAL LIVESTOCK MONITORING MARKET - ANALYSIS & FORECAST, BY COMPONENT
   1. Hardware
   2. Software
   3. Services
7. GLOBAL LIVESTOCK MONITORING MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Milk Harvesting
   2. Feeding Management
   3. Breeding Management
   4. Animal Health
   5. Monitoring & Comfort
   6. Others

LIVESTOCK MONITORING MARKET TOC

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• Winning imperatives
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