Dublin, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The "Livestock Monitoring Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
Key Market Insights
Rapid Growth in Sensor Technology expected to uplift the Global Livestock Monitoring Market
The global livestock monitoring market was valued at US$ 1.83 Bn in the year 2021 and is expected to reach US$ 4.55 Bn by the year 2030, expanding at a CAGR of 10.7% during the forecast from 2022 to 2030.
Developments in sensor technology that have taken place and that is in progress, will make available increasing amounts of information relevant to monitoring animals and their environment, and hence their production, growth, and health.
Furthermore, a tracking system helps livestock producers overcome the challenges of scale increases while ensuring their animals; well-being. Instead of relying solely on farmers' senses and knowledge, on-site tracking sensors can provide reliable data about the location and physical condition of the animals. Whether the farmer is concerned with automatic feeding, sorting and separating, or weighing - all of the information needed for managing the animals individually is available in real-time.
The solution supports optimal livestock performance by providing the exact amount of feed for each animal based on its body weight and activity level. Implementing this system enables having the control to help the animals maintain optimal body condition. In cases of anomalous development (e. g. loss of weight, decreasing activity level), affected animals can be isolated in order to be treated and fed individually. Quarantining animals that have been in contact with sick animals helps to minimize the cases of illness and medication expenses.
Market Synopsis
Offering Analysis
Hardware Component dominated the Global Livestock Monitoring Market in 2021
In 2021, hardware held the largest size of the livestock monitoring market due to the increasing adoption of hardware devices such as RFID, sensors, smart cameras, and GPS technology on livestock farms. The data collected through these devices alert farmers on reproduction, healthy feeding, and the wellbeing of the animals. Technological advancements in software and services used in livestock monitoring management systems are also propelling market growth since the past few years.
Regional Analysis
The Asia Pacific seeks Opportunistic Growth during the Forecast Period
The livestock monitoring market in APAC is expected to grow at the highest CAGR during the forecast period. The population expansion in the region;s developing countries is mounting pressure on the suppliers of livestock products to become more efficient and productive, thus pushing the sales of livestock monitoring solutions upward. The rising penetration of IoT in the animal monitoring application also boosts the growth of this market. Some other factors driving the demand for livestock monitoring systems are an increase in size and number of dairy farms, new product launches for livestock management, development of sensors, which can gather a wide range of information, and demand for cost savings associated with livestock monitoring, & management.
Key Players
- GEA Farm Technologies
- DeLaval
- Afimilk Ltd.
- BouMatic LLC
- Antelliq Corporation
- Dairymaster Ltd.
- Lely International NV
- Fancom BV
- Fullwood Packo Ltd.
- Nedap NV
- Hokofarm-Group BV
- Valley Agriculture Software
- Sum-It Computer Systems Ltd.
- Sensaphone
- HID Global Corporation
Market Segmentation
Offering
- Hardware
- Software
- Services
Farm Type
- Small
- Medium
- Large
Livestock Type
- Cattle
- Poultry
- Swine
- Equine
- Others (sheep, goat, and deer)
Application
- Milk Harvesting Management
- Breeding Management
- Feeding Management
- Heat Stress Management
- Animal Comfort Management
- Behavior Monitoring & Control
- Others (Calf Management, Genetic Management, Cattle Sorting, Weighing, Data Analysis, Decision Support, And Financial Management)
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Livestock Monitoring market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Livestock Monitoring market?
- Which is the largest regional market for Livestock Monitoring market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Livestock Monitoring market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Livestock Monitoring market worldwide?
Key Topics Covered:
Companies Mentioned
- GEA Farm Technologies
- DeLaval
- Afimilk Ltd.
- BouMatic LLC
- Antelliq Corporation
- Dairymaster Ltd.
- Lely International NV
- Fancom BV
- Fullwood Packo Ltd.
- Nedap NV
- Hokofarm-Group BV
- Valley Agriculture Software
- Sum-It Computer Systems Ltd.
- Sensaphone
- HID Global Corporation
For more information about this report visit https://www.researchandmarkets.com/r/93cdr6
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