Pune India, May 10, 2022 (GLOBE NEWSWIRE) — The global livestock monitoring market is expected to grow from USD 1.96 billion in 2021 to USD 4.82 billion by 2029, at a CAGR of 12.1% during the forecast period 2022-2029.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the livestock monitoring market is currently operating and is predicted to expand in the near future. The manufacturers and suppliers involved in the livestock monitoring market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the offering, livestock type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global livestock monitoring market are Allflex Livestock Intelligence (Subsidiary of MSD Animal Health), DeLaval, Afimilk Ltd., Nedap NV , BouMatic, ENGS Systems, CowManager BV, Dairymaster, HerdInsights (Subsidiary of Datamars), and Zoetis among others. To achieve a substantial market share in the worldwide livestock monitoring market and strengthen their position, manufacturers are pursuing expansion methods such as current ventures, mergers and acquisitions, product innovations, collaborations, and partnerships, joints. Among these, Tesla is one of the most significant manufacturers and distributors present in the global livestock monitoring market.
Livestock monitoring has become one of the leading revolutionary solutions developed and architected using advanced technologies such as sensors, GPS and other IoT-enabled devices and integrating them with a network protocol for communication. Such systems are helping farmers to keep a check on their farm animals and track & monitor the health of livestock remotely. By using a wearable tag or collar, battery-powered sensors monitor the location, blood pressure, temperature, and heart rate of animals and wirelessly sends data to the devices of farmers.
The advancement in sensor technologies has enabled livestock monitoring to detect diseases in animals at the earliest. For instance, the Tail Sensor is being used for a prediction of calving time as well as early detection of fever. Moreover, in past few years, the demand for meat and dairy products has grown significantly, fueling the number of poultry, dairy, and swine farms. For instance, in 2020, there were more than 33 billion chickens across the globe, up from 14.3 billion chickens in 2000. Such factors are fueling growth of the global livestock monitoring market.
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Scope of Livestock monitoring Market Report
|Market Share Unit||USD Billion|
|Segments Covered||Offering livestock type and application|
|Regions Covered||North America, Europe, Asia-Pacific, South America and Middle-East and Africa|
|Major Players||Allflex Livestock Intelligence (Subsidiary of MSD Animal Health), DeLaval, Afimilk Ltd., Nedap NV , BouMatic, ENGS Systems, CowManager BV, Dairymaster, HerdInsights (Subsidiary of Datamars), and Zoetis among others|
Software segment is expected to be the fastest growing segment in 2021.
The offering segment includes hardware, software, and services. Software segment is expected to witness highest growth rate during the forecast period due to increasing trend of software integration for ease of livestock data collection. For instance, in February 2020, Cainthus, a computer vision and artificial intelligence (AI) solutions provider for dairy farms launched ALUS Nutrition, a personalized technology that permits a producer to track the accessibility of feed 24/7.
Poultry segment is expected to be the fastest growing segment in 2021.
The livestock type segment includes cattle, poultry, swine, equine, and others. Poultry segment is expected to witness highest growth rate during the forecast period high consumption of poultry products across the globe. In addition, the growing population is projected to boost demand for poultry products. For instance, according to the US Census Bureau, a principal agency of the US Federal Statistical System, the US population is expected to increase from 319 million in 2014 to 417 million in 2060.
Milk harvesting segment is expected to be the fastest growing segment in 2021.
The application segment includes milking management, heat detection monitoring, feeding management, heat stress management, health monitoring management, and sorting and weighing management. Milk harvesting segment is expected to witness highest growth rate during the forecast period. Manual milking is very slow and time-consuming; Hence, the implementation of auto milking has grown significantly, reducing costs and the need for manpower. In addition, there is a rising usage of intelligent cooling tanks to automatically preserve the milk. Such factors has driven growth of the Milk harvesting segment.
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the livestock monitoring include US, Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region witnessing a major share. Growth of this region is mainly driven by the increased internet penetration along with the technological developments in the field of livestock monitoring. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. The number of factors such as growing population, changing dietary patterns, and rapid urbanization has driven growth of the livestock monitoring market in this region.
In Germany, the competitiveness of livestock production is limited owing to a high number of small farms. However, the country is the third largest exporter of agricultural goods across the globe and the agricultural industry in this country exports about one third of its products.
Germany livestock monitoring market size was valued at USD 0.23 billion in 2021, at a CAGR of 11.8% from 2022 to 2029.
Further, according to The Federal Statistical Office (Destatis), about 13.0 billion eggs were produced in enterprises across Germany. Hence, huge poultry sector in the country is projected to boost demand for the livestock monitoring solutions.
China livestock monitoring market size was valued at USD 0.39 billion in 2021 and is expected to reach USD 0.82 billion by 2029, at a CAGR of 9.9% from 2022 to 2029. China has a large livestock population with fowls and pigs being the most common. In addition, the average milk, meat, and egg consumption per capital is constantly increasing in this country. Hence, huge consumption of livestock products in this country is projected to boost growth of the livestock monitoring market.
India livestock monitoring market size was valued at USD 0.17 billion in 2021 and is expected to reach USD 0.39 billion by 2029, at a CAGR of 11.0% from 2022 to 2029. India is one of the strongest growing in Asia. In addition, the emerging popularity of livestock monitoring in this country is expected to create lucrative growth opportunities for the livestock monitoring market. In August 2020, the government in this country has launched an e-Gopala app to help farmers choose better quality livestock and improve dairy output. Such government initiatives are opportunistic for growth of the India livestock monitoring market.
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for livestock monitoring has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of livestock monitoring were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for livestock monitoring significantly decreased.
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