Key Revenue Pockets - Livestock Monitoring Market
Livestock monitoring involves the application of technologies and tools for enhancing the productivity and profitability of dairy farming. It is used for various applications such as milk harvesting management, breeding management, feeding management, heat stress management, animal comfort management, behavior monitoring and control, and others. It involves the use of various hardware components such as GPS, RFID tags and readers, and sensors. Livestock monitoring assists farmers in providing real-time information on animal health, feeding behavior, hygiene, and location tracking for improving the management of livestock, enhancing productivity, and improving the quality of production.
The overall livestock monitoring market is expected to grow from USD 1.5 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 10.9%. The growth of this market is mainly driven by the growing focus on livestock monitoring and disease detection, increasing adoption of IoT and AI by dairy farmers, and substantial cost-saving associated with livestock monitoring management. Growing population of cattle with increasing dairy farms and growing adoption of livestock monitoring technology in developing countries provide major opportunities for the growth of the livestock monitoring market.
To know about the assumptions considered for the study download the pdf brochure
The hardware component is expected to hold the largest share of the livestock monitoring market during the forecast period 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.
The milking harvesting management application is the largest adopter of livestock monitoring solutions. A number of factors such as increasing preference for automated milk harvesting systems, high focus of farmers on increasing milk yield, need for bringing efficiency to the production, and growing demand for dairy products are driving the market growth for this application.
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.
Related Reports:
Livestock Monitoring Market by Offering (Hardware, Software, and Services), Livestock Type (Cattle, Poultry, Swine, Equine), Application (Milk Harvesting, Feeding, Breeding, Behavior Monitoring & Control), Farm Type, Geography - Global Forecast to 2025
Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Livestock Monitoring Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
