Press release
Livestock Monitoring Solutions Market to reach US$ 3.6 Bn by 2030, Advantages of Real-time Monitoring of Livestock Reared for High Economic Value Fuel Global Market - TMR Insights
The increasing role of next-gen technologies to monitor the health of dairy and beef cattle to prevent diseases that can impact the production quality and yield of milk, meat is fueling the livestock monitoring solutions market. Efforts of companies to develop smart IoT sensors and AI-enabled monitoring solutions for real-time visual imagery, and use of cloud for flexible customized solutions collectively lead to the significant growth of the livestock monitoring solutions market, which, is projected to expand at a CAGR of 16% during the forecast period.The outbreak of COVID-19 that has disrupted livestock associated supply chains in most parts of the world has necessitated dynamic solutions for real-time insights into the well-being of livestock. This is to detect possible incidence of infection in livestock at any stage of rearing. The AI-enabled monitoring solutions help to detect temperature fluctuations in animals and deliver information about potential diseases, finds the TMR report.
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Livestock Monitoring Solutions Market - Key Findings of Report
Entry of Technology Startups Gain Prominence for Economic Value
The emergence of technology startups for several business sectors in growing economies such as India is increasingly gaining traction. Technology startups for agriculture, animal husbandry, and associated fields are hotspots due to their high economic value.
The prospects of the application of the technology in the overall monitoring of cattle to improve output quality and yield is creating opportunities in the livestock monitoring solutions market.
In order to strengthen the demand, players in the livestock monitoring solutions market are striving to increase the availability of easy-to-maintain and durable IoT products for cattle tracking and field mapping. Such efforts are also aimed at addressing challenges of maintenance of hardware used for smart farming.
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Deployment of Drones, AI-enabled Autonomous Solutions for Precision Livestock Farming Gathers Steams
The use of drones for real-time cattle tracking and to help farmers reduce staffing expense is creating new frontiers in the livestock monitoring solutions market. Manufacturers in the livestock monitoring solutions market are boosting the production and consequent testing, performance of drones for prospects of continued use in livestock monitoring.
The AI-enabled monitoring of cattle helps end users to obtain maximum yield from them.
According to the United Nations Food & Agriculture Organization data, the number of milk yielding animals is likely to increase from 373 million in 2018 to 414 million by 2030. The role of the AI to increase production of milk yielding animals is creating opportunities in the livestock monitoring solutions market.
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Advantages of Environment Considerations Make Smart Wearable Technologies Attractive
The development of solution-oriented wearable technologies for livestock that are designed to address greenhouse gas emissions in farms is a significant breakthrough in the livestock monitoring solutions market. Moreover, the smart wearable devices for livestock are gaining acceptance to neutralize livestock methane exhalation. This factor could serve as an advantage for the beef and dairy industries to mitigate emission and contribute in slowing down climate change.
Livestock Monitoring Solutions Market - Regional Analysis
North America, at present, is the early adopter of technology for farming, agriculture, and associated fields. The integration of new technologies such as ML and computer vision accounts for the highest revenue of the AI in agriculture segment in the region. This influences the growth of the livestock monitoring solutions market in the region.
Europe is expected to witness considerable demand for livestock monitoring solutions in the upcoming years. The adoption of technology by dairy farmers is anticipated to drive the demand for next-gen solutions for the upkeep of dairy and beef cattle.
Asia Pacific is projected to lead the livestock monitoring solutions market in the upcoming years. This can be attributed to the rising adoption of agricultural robots, drone analytics, and precision farming technologies primarily in China.
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Livestock Monitoring Solutions Market - Growth Drivers
Adoption of IoT and next-gen technologies to monitor dairy/beef animals for reliable information fuels the livestock monitoring solutions market
Advantages to store, evaluate, and repeat recordings of farm surveillance boost deployment of livestock monitoring solutions
Livestock Monitoring Solutions Market - Key Players
Some well-entrenched players in the livestock monitoring solutions market are:
Cattle Care Inc.
Luda.Farm AB
Onsight247.com
Solutions Technology Group
Zoetis Services LLC
Cattle Eye Ltd.
NewVision Security
Ranch Eyes
Wi Vid Wireless Video Cameras.com
Cainthus
Global Livestock Monitoring Solutions Market: Segmentation
Livestock Monitoring Solutions Market, by Component
Hardware
Cattle Wearable Device
Smart Camera
Drone
Video Analytics Software/Platform
Services
Support & Maintenance Services
Installation & Implementation Services
Consulting Services
Livestock Monitoring Solutions Market, by End User
Cow-Calf Producer
Feedyard Producer
Stocker Producer
Livestock Monitoring Solutions Market, by Region
North America
U.S.
Canada
Rest of North America
Europe
U.K.
Italy
France
Rest of Europe
Asia Pacific (APAC)
Japan
China
India
Rest of Asia Pacific
· Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
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