Livestock Monitoring Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4064
Livestock Monitoring Market is estimated to grow at a significant CAGR due to increasing magnitude of dairy farms and substantial cost benefits associated with livestock monitoring. The rising internet penetration coupled with the advent of advanced technologies, such as IoT, supportive government initiatives, increasing foreign investments, and favorable global trade policies, is driving livestock monitoring market growth.
The growing population and expanding urbanization are increasing the demand for livestock. However, the accelerated climate change and lack of trained professional are adversely impacting the livestock industry and unable to cater to the growing global demand. For instance, according to the U.S. Department of Labor (USDA), the employment of dairy farm workers is estimated to decrease by 6% from 2014 to 2024. Governments across various regions are investing heftily to mitigate these growing challenges in the livestock industry and enhance livestock productivity. For instance, in April 2019, the Government of India implemented National Livestock Mission with an outlay of USD 55.44 million during the financial year 2019-2020 for sustainable and continuous growth of the livestock sector across species and regions.
The growing need to improve rural income, reduce food price volatility, and improve food security is contributing to livestock monitoring market growth. The rising demand for better quality dairy products due to increasing health awareness among the global population is further fueling market growth. The availability of cheap sensors, rising internet penetration, and the use of latest technology, such as IoT, in livestock farming reduce manual labor, supporting the enhancement in productivity and offering efficient platforms for proper livestock management.
The Europe region held a significant livestock monitoring market share in 2018 and is estimated to dominate the market share over the forecast timeline. The market growth is attributed to the early adoption of livestock monitoring technologies and growing technological advancements among dairy farms in the region. Asia Pacific livestock monitoring market is estimated to grow at highest CAGR over the forecast timeline due to supportive government initiatives to enhance livestock monitoring, reduce poverty rates, and diminish the inequality between the urban and rural population in the region. The dairy and cattle farms in the region are rapidly embracing the latest technologies, such as livestock monitoring, to enhance their livestock management and improve the productivity of farms.
The livestock monitoring market players are focusing on strategic alliances with other market players to improve their product & solution offerings and expand their geographical presence. For instance, in December 2018, Merck acquired a digital livestock and animal health tech company, Antelliq Group, for USD 2.37 billion. This acquisition will help Merck improve its products related to animal health. The prominent market players are investing heftily in their research & development and rapidly adopting the latest technological advancements to develop new products & solutions as well as improve existing products & solutions. For instance, in November 2018, Afimilk Ltd. launched AfiFarm 5.3, which is a product line of dairy management software.
Some of the major players operating in the livestock monitoring market are Afimilk Ltd., Boumatic, LLC, Dairymaster, Delaval Inc.(Tetra Laval International, S.A.), GEA Group AG, Infovet, Lely Holding S.À.R.L, SCR Dairy, Inc. (Allflex Group), Sum-It Computer Systems, Ltd., and Valley Agriculture Software.
Livestock Monitoring Market, By Component, 2014-2025 (USD Million)
- Global Positioning System (GPS)
- RFID Tags & Readers
- Accelerometer Sensor
- Environmental Humidity Sensor
- Motion Sensor
- Temperature Sensor
- Transmitters & Mounting Equipment
- Integration & Deployment
- Maintenance & Support
- Managed Service
Livestock Monitoring Market, By Application, 2014-2025 (USD Million)
- Animal Comfort Management
- Behavior Monitoring & Control
- Breeding Management
- Feeding Management
- Heat Stress Management
- Milk Harvesting Management
Livestock Monitoring Market, By Species, 2014-2025 (USD Million)
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand
- South Korea
- Latin America
- South Africa
- Afimilk Ltd.
- Boumatic, LLC
- Delaval Inc. (Tetra Laval International, S.A.)
- GEA Group AG
- Lely Holding S.À.R.L
- SCR Dairy, Inc. (An Independent Division of Allflex Group)
- Sum-It Computer Systems, Ltd.
- Valley Agriculture Software
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