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Livestock Identification Market Trends

Report ID: GMI7973
Published Date: Jan 2024
Report Format: PDF

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Livestock Identification Market Trends

The adoption of advanced technologies, such as RFID (Radio-Frequency Identification) and GPS (Global Positioning System), is witnessing a significant surge. These, monitoring, and data collection capabilities, empowering livestock farmers with precise information about individual animals. RFID tags, for instance, enable unique identification, allowing farmers to track an animal's movement, health, and breeding history. The integration of GPS technology further enhances these capabilities, offering location-specific data for more comprehensive livestock management.

There is a growing emphasis on data analytics and artificial intelligence (AI) in the livestock identification sector. The increasing volume of data generated by identification systems is being harnessed to derive actionable insights for improved decision-making. Data analytics tools enable farmers to analyze patterns, predict disease outbreaks, optimize breeding programs, and enhance overall herd management. The application of AI adds another layer of sophistication, allowing for automated data interpretation and the identification of trends that might not be apparent through traditional analysis methods.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of livestock identification was reached USD 1.5 billion in 2023 and is estimated to register a CAGR of over 9.5% between 2024 and 2032, driven by regulatory compliance and focus on disease control & management.

In 2023, the ear tags segment accounted for a market share of around 30% and is projected to grow through 2032, owing to the increasing stringency of regulations and traceability requirements in the livestock industry.

North America dominated the global livestock identification market with a revenue share of over 30% in 2023, attributed to the growing animal population, coupled with disease monitoring & traceability measures.

AgriTech Solutions, WISE Livestock Systems, Avid Identification Systems, Inc., VirtualHerd Technologies, BioTrack, UHF Livestock, CattleTrace, TagTech Innovations, DataLivestock, SmartTag Systems, Datamars, Shearwell Data Limited, and EIDAP Inc. among others.