Global Livestock Monitoring Market to Exhibit 19.33% CAGR by 2028

Triton Market Research presents the Global Livestock Monitoring Market segmented by Product Type (Hardware with Integrated Software & Systems [Sensors, GPS, Others], Standalone Software [On-Cloud, On-Premise], Services [Integration & Deployment, Maintenance & Support, Other Services]), Animal Type (Cattle, Poultry, Swine, Equine, Goat & Sheep, Others), Application (Milk Harvesting, Breeding Management, Feeding Management, Animal Health Monitoring & Comfort, Heat Stress, Behavior Monitoring, Other Applications), Geography (North America, the Middle East and Africa, Latin America, Asia-Pacific, and Europe).

It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Value Chain Analysis, Key Buying Criteria, Regulatory Framework, Vendor Scorecard, Key Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Regional Outlook, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton Market Research's report highlights that the global market for livestock monitoring would advance at a CAGR of 19.33% during the forecasted years 2022 to 2028.

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Livestock contributes significantly to the overall economy, using its products as assets. There are different kinds of livestock such as cattle, horses, sheep, goats, pigs, and donkeys that are domesticated, and their products, such as eggs, wool, fur, meat, etc., are used for multiple purposes. Livestock monitoring holds great importance for managing farm animals, their behavior, health, and wellness. With technology, ranchers can keep up with their livestock in real-time, thus reducing numerous issues. This, in turn, augments the growth of the livestock monitoring market.

However, the resistance to technology adoption by small-scale farmers presents major challenges to the studied market.

Globally, North America holds the largest market for livestock monitoring and is expected to stronghold its position over the forecast years. The US agricultural department has obligated the country to use radio frequency identification for real-time detection and treatment of the animals on the farm. Moreover, the increasing population has raised the demand for livestock-derived products, thereby expanding the demand for livestock monitoring.

The leading companies profiled in the livestock monitoring market include Afimilk Ltd, Boumatic, Cainthus, Allflex Livestock Intelligence, Cattle Eye Ltd, Dairymaster, Connecterra BV, Cowmanager BV, GEA Group, Delaval, Herdx Inc, Sensaphone, Nedap NV, Lely, and Valley Agriculture Software.

The global market face cut-throat competition as emerging technology allows companies to provide innovative products such as milking robots, feed management software, etc. Moreover, there is no threat of substitutes for IoT-based livestock management tools as end-products remain the same. Besides, livestock monitoring technologies are replacing traditional ways, considerably easing the process.

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