Livestock monitoring system market is anticipated to record a CAGR of 18.2% over the forecast period :Top keyplayers are GEA Group AG,, Afimilk Ltd., Sensaphone, Rugged Networks Limited., BouMatic LLC., Communications Group Lethbridge Ltd. ,Lely Holding S

Introduction to Livestock Monitoring System Overview

The livestock monitoring system is primarily used to monitor all transactions related to the animals and product including milk and milk products. It is a smart farming method which involves monitoring all kind of diseases related to the animals, milk and meat consumption and medicinal cost associated with the animals. It is used for the detection of the issues that are critical in preventing the loss associated with the livestock.

The farmers are incurring huge loss on the account of the animal illness. Thus, increasing need for the IoT enabled livestock management is expected to increase in the upcoming future. The livestock monitoring system improves the overall profit related to management of the livestock.

Request For Free Sample@ https://www.kennethresearch.com/sample-request-10076372

Market Size and Forecast

The increasing growth in the livestock monitoring system can be attributed to the rising technological development in the field of livestock management. Additionally, growth in the livestock management is also supported by the enhanced government policies which is elevating the different methods of the farming. The growing size of the livestock is also a reason for the increasing demand for the better technology management.

Livestock monitoring system market is anticipated to record a CAGR of 18.2% over the forecast period. It is anticipated to reach the total market size of the USD 13.3 billion by 2027. The market can be segmented on the basis of component, application and animal type. On the basis of component it is sub-segmented into hardware, software and services. The software is anticipated to be the fastest growing sub-segment during the forecast period. The increasing penetration of the various technologies including cloud based services is anticipated to be the major reason for the growth of the sub-segment during the forecast period. On the basis of application, it is sub-segmented into feeding management, animal comfort management and behavior monitoring and control. On the basis of animal type, it is sub-segmented into cattle, swine, sheep & goat, poultry and others.

Growth Drivers

Increasing Population of Livestock

The growing demand for the livestock monitoring system can be attributed to the increasing profits concern among the farmers. The large population of the livestock can be easily managed with the help of the livestock monitoring system. For instance, the total number of the sheep throughout the world was 1.16 billion in 2015 which grew to 1.17 billion in 2016. Thus, increasing number of sheep across the globe is anticipated to be major driver for the overall market during the forecast period.

Widespread Technological Advancement

The growing technological development such as IoT and cloud is anticipated to be the major growth driver for the overall market during the forecast period. The increasing penetration of the IoT enabled services is enhancing the production rate and reduces the labor cost associated with the farming. Additionally, the increasing application of the cloud based software is also major reason for the rising application of the livestock monitoring systems. This in turn is anticipated to boost the growth of the overall livestock monitoring market during the forecast period.

Restraints

High Capital Investment

The incapability of farmer towards huge capital investment is expected to restrain the growth of market during the forecast period.

Buy Now@ https://www.kennethresearch.com/report-purchase-id-10076372

Market Segmentation

Our-in depth analysis of the global livestock monitoring system market includes the following segments:

By Component:

Hardware
Sensors
RFID
GPS
Software
On-Cloud
On-Premise
Services
Integration & Deployment
Maintenance & Support
Other Services
By Application:

Feeding management
Animal comfort management
Milk harvesting management
Reproduction management
Behavior monitoring and control
Heat stress management
By Animal Type:

Cattle
Swine
Sheep & Goat
Poultry
Others
By Region

On the basis of regional analysis, global livestock monitoring system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to be the leading region for the overall livestock monitoring system market during the forecast period. The increasing innovation in the field of livestock management system coupled with the rising demand for the reduction of the overall cost associated with the cattle rearing is anticipated to boost the growth of the overall market during the forecast period. Asia-Pacific is anticipated to showcase robust growth in the global livestock monitoring system market on the account of the increasing number of cattle and buffaloes. For instance, India has highest number of cattle and buffaloes which accounted 298 million in 2016.

Global livestock monitoring system market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

Key Players

DeLaval, Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis, GEA Group AG,, Afimilk Ltd., Sensaphone, Rugged Networks Limited., BouMatic LLC., Communications Group Lethbridge Ltd. ,Lely Holding S.À.R.L ,SCR ,Dairy, Inc. ,DairyMaster ,Valley Agriculture Software ,SUM-IT Computer Systems, Ltd.

Read More@ https://www.kennethresearch.com/report-details/livestock-monitoring-system-market/10076372

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

1412 Broadway,
21st Floor Suite MA111,
New York, NY 10018

Name:David
Email:sales@kennethresearch.com
Phone: +1 313 462 0609

This release was published on openPR.