Livestock Monitoring Global Market Report 2022: Sector to Reach $4.55 Billion by 2030 at a 10.7% CAGR

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Jan 31, 2023, 08:30 ET

DUBLIN, Jan. 31, 2023 /PRNewswire/ -- The "Livestock Monitoring Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.

Key Market Insights

Rapid Growth in Sensor Technology expected to uplift the Global Livestock Monitoring Market

The global livestock monitoring market was valued at US$ 1.83 Bn in the year 2021 and is expected to reach US$ 4.55 Bn by the year 2030, expanding at a CAGR of 10.7% during the forecast from 2022 to 2030.

Developments in sensor technology that have taken place and that is in progress, will make available increasing amounts of information relevant to monitoring animals and their environment, and hence their production, growth, and health.

Furthermore, a tracking system helps livestock producers overcome the challenges of scale increases while ensuring their animals; well-being. Instead of relying solely on farmers' senses and knowledge, on-site tracking sensors can provide reliable data about the location and physical condition of the animals. Whether the farmer is concerned with automatic feeding, sorting and separating, or weighing - all of the information needed for managing the animals individually is available in real-time.

The solution supports optimal livestock performance by providing the exact amount of feed for each animal based on its body weight and activity level. Implementing this system enables having the control to help the animals maintain optimal body condition. In cases of anomalous development (e. g. loss of weight, decreasing activity level), affected animals can be isolated in order to be treated and fed individually. Quarantining animals that have been in contact with sick animals helps to minimize the cases of illness and medication expenses.

Market Synopsis

Offering Analysis
Hardware Component dominated the Global Livestock Monitoring Market in 2021

In 2021, hardware held the largest size of the livestock monitoring market due to the increasing adoption of hardware devices such as RFID, sensors, smart cameras, and GPS technology on livestock farms. The data collected through these devices alert farmers on reproduction, healthy feeding, and the wellbeing of the animals. Technological advancements in software and services used in livestock monitoring management systems are also propelling market growth since the past few years.

Regional Analysis
The Asia Pacific seeks Opportunistic Growth during the Forecast Period

The livestock monitoring market in APAC is expected to grow at the highest CAGR during the forecast period. The population expansion in the region;s developing countries is mounting pressure on the suppliers of livestock products to become more efficient and productive, thus pushing the sales of livestock monitoring solutions upward. The rising penetration of IoT in the animal monitoring application also boosts the growth of this market. Some other factors driving the demand for livestock monitoring systems are an increase in size and number of dairy farms, new product launches for livestock management, development of sensors, which can gather a wide range of information, and demand for cost savings associated with livestock monitoring, & management.

Key Players

GEA Farm Technologies
DeLaval
Afimilk Ltd.
BouMatic LLC
Antelliq Corporation
Dairymaster Ltd.
Lely International NV
Fancom BV
Fullwood Packo Ltd.
Nedap NV
Hokofarm-Group BV
Valley Agriculture Software
Sum-It Computer Systems Ltd.
Sensaphone
HID Global Corporation

Market Segmentation
Offering

Hardware
Software
Services

Farm Type

Small
Medium
Large

Livestock Type

Cattle
Poultry
Swine
Equine
Others (sheep, goat, and deer)

Application

Milk Harvesting Management
Breeding Management
Feeding Management
Heat Stress Management
Animal Comfort Management
Behavior Monitoring & Control
Others (Calf Management, Genetic Management, Cattle Sorting, Weighing, Data Analysis, Decision Support, And Financial Management)

Key questions answered in this report

What are the key micro and macro environmental factors that are impacting the growth of Livestock Monitoring market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Livestock Monitoring market?
Which is the largest regional market for Livestock Monitoring market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Livestock Monitoring market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Livestock Monitoring market worldwide?

Key Topics Covered:

Companies Mentioned

GEA Farm Technologies
DeLaval
Afimilk Ltd.
BouMatic LLC
Antelliq Corporation
Dairymaster Ltd.
Lely International NV
Fancom BV
Fullwood Packo Ltd.
Nedap NV
Hokofarm-Group BV
Valley Agriculture Software
Sum-It Computer Systems Ltd.
Sensaphone
HID Global Corporation

For more information about this report visit https://www.researchandmarkets.com/r/q1y7au

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