Livestock Monitoring Market was valued at USD 1,450 million in 2021 and estimated to reach USD 3,415 million in 2029 increasing at a significant CAGR od 11.3%
The factors driving the growth of Livestock Monitoring Market includes rising awareness about the benefits of livestock monitoring, increase in the consumption of meat and dairy products, prevalence of zoonotic diseases and growing focus on livestock rearing around the world. Moreover, rise in the number of poultry and swine farms, increasing adoption of advanced technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) by farmers and growing awareness about genetic breeding, milk harvesting and animal nutrition, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic mergers and acquisitions between key industry players, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
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However, growth of the Livestock Monitoring Market is hindered attributed to high cost of livestock solutions.
The leading players operating in the market are BouMatic, Merck & Co. Inc., DAIRYMASTER, GEA Group Aktiengesellschaft, DeLaval Inc., Afimilk Ltd., Lely, Fancom BV, Nedap N.V., and Fullwood Packo, among others.
Based on Application, the Behavior Monitoring & Control segment is predicted to grow at a remarkable CAGR during the forecast period
Increasing adoption of hardware devices such as sensors and RFID, to detect disease in livestock, and rising awareness about livestock monitoring technology, are some of the factors responsible for the segment’s growth.
Based on Livestock Type, the Cattle segment is projected to hold the highest market share over the forecast period
Growing awareness about the benefits of livestock monitoring devices and increasing consumption of dairy products, are propelling growth of the segment.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Growing adoption of advanced livestock monitoring devices, increasing consumption of meat, rising internet penetration rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Developments
- In 2020, Nedap N.V. and VAS collaborated to enhance the level of integration between the VAS Platfrom and Nedap CowControl. This advanced integration allows both the parties to empower dairy farmers worldwide and make them happier.
- In 2020, Merck & Co. Inc., acquired IdentiGEN Ltd., one of the leading DNA-based animal traceability solutions for Livestock and Aquaculture to enhance its livestock solution businesses.
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
- Behavior Monitoring & Control
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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