Livestock Monitoring Market 2019 Segments Overview and Regional Outlook Forecast to 2025
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.
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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.
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
By Application, 2014-2025 (USD Million)
• Animal Comfort Management
• Behavior Monitoring & Control
• Breeding Management
• Feeding Management
• Heat Stress Management
• Milk Harvesting Management
By Species, 2014-2025 (USD Million)
The above information has been provided for the following regions and countries:
o North America
o Latin America
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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
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