Livestock Monitoring Market to Reach USD 4.15 Billion at a CAGR of 10.57% by 2031

The Livestock Monitoring Market size was valued at USD 1.85 Billion in 2023, and is expected to reach USD 4.15 Billion by 2031, growing at a CAGR of 10.57% over the forecast period 2024-2031 according to SNS Insider. This growth is Driven by Various factors, including the increasing focus on real-time monitoring and early disease detection, the rising adoption of IoT and AI for livestock management, and the growing global demand for meat.

Growing Demand for Advanced Monitoring Solutions

The livestock monitoring market is growing with increase demand for advanced monitoring solutions due to Various benefits they offer. These solutions leverage sensor technology to collect real-time data on animal health, behaviour, feeding habits, and environmental conditions. This data empowers farmers to make informed decisions regarding animal care, disease prevention, and overall herd management. For instance, rumination cattle monitoring systems can help curb mastitis and ketosis in animals, while heat detection systems enable timely identification and isolation of animals with diseases. The growing global population and the consequent increase in demand for livestock products such as meat and dairy are Driving the market forward.

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Top Companies Featured in Livestock Monitoring Market Report:

– GEA Group
– Aktiengesellschaft
– Dairymaster
– Afimilk Ltd
– Sensaphone
– DeLaval
– Intervet Inc
– Fancom BV
– Antelliq
– BouMatic
– Lely
– Fullwood Packo

Market Analysis | Opportunities and Challenges

The livestock monitoring market presents Significant opportunities for growth. Growing concerns over food security, integrates with the increasing prevalence of animal diseases, are driving the adoption of these solutions. The advancements in sensor technology and the integration of IoT and AI are paving the way for more sophisticated monitoring systems that offer improved accuracy and efficiency. The factors such as the high initial investment costs associated with these solutions and stringent regulations regarding data privacy may hinder market growth to some extent.

Livestock Monitoring Industry Segmentation as Follows:

BY COMPONENT

• Hardware
• Software
• Services

The hardware segment is expected to dominate the market throughout the forecast period. This dominance can be attributed to the growing adoption of hardware devices such as smart tags, sensors, camera systems, and GPS trackers in livestock farms. The software segment, however, is anticipated to growing with the fastest growth rate due to the increasing integration of user-friendly applications for data collection and analysis.

BY TYPE

• Cattle
• Goats
• Equine
• Poultry
• swine
• Others

by livestock type, the cattle segment holds the largest share. This dominance is driven by the wide availability of dedicated tracking and monitoring solutions for cattle, including RFID tags and GPS-based systems. The stringent government regulations mandating cattle tagging in several countries are further propelling the market growth within this segment.

BY APPLICATION

• Milk Harvesting Management
• Feeding Management
• Sorting and Weighing Management
• Animal Health Monitoring & Comfort
• Heat Detection Monitoring
• Heat Stress Management
• Breeding Management
• Behavior Monitoring

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Recent Developments

– June 2021, MSD Animal Health announced its acquisition of LIC (Livestock Improvement Corporation) Automation Ltd., a leader in integrated herd management systems and milk testing sensors. This move reflects their commitment to expanding their animal well-being product portfolio.

– June 2021, Nedap N.V. collaborated with Cogent Breeding (UK) to launch PrecisionCOW, a solution that provides comprehensive health, fertility, and location monitoring for individual cows.

– December 2020, BouMatic introduced OneView, an updated management system for their Gemini milking robot. OneView offers users a centralized platform for accessing robot and herd performance data.

Impact of Global Disruptions

The Russia-Ukraine war has result increase price for essential components such as semiconductors, impacting the production and availability of livestock monitoring hardware. The economic slowdown can potentially result to budget constraints for farmers, hindering their investment in these advanced solutions.

Regional Developments

North America Region holds the largest market share due to factors such as continuous technological advancements, high internet penetration, and the Growing prevalence of zoonotic diseases. The Asia Pacific region is projected to witness significant growth in the coming years. This growth can be attributed to factors such as rising disposable incomes, changing food preferences, population growth, and rapid urbanization, all of which are contributing to an increased demand for animal-based food products in the region.

Key Takeaways

• The livestock monitoring market is flourishing due to the Increasing demand for real-time animal health monitoring and disease detection.
• Advancements in sensor technology, IoT, and AI are paving the way for more sophisticated monitoring solutions.
• The market presents significant opportunities for growth, driven by factors such as increasing global population and concerns over food security.
• North America and Asia Pacific are expected to remain at the forefront of the livestock monitoring market.

Table of Content – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Livestock Monitoring Market Segmentation, By Component
9. Livestock Monitoring Market Segmentation, By Type
10. Livestock Monitoring Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

Continued….

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