Growing Demand for Animal Products impact Global Livestock Monitoring Market Demands

Inkwood Research estimates that the Global Livestock Monitoring Market is evaluated to project a CAGR of 19.66%.in terms of revenue during the forecasting years of 2022-2030.

"Browse 35 market data tables and 58 figures spread over 205 Pages, along with an in-depth TOC on the Global Livestock Monitoring Market Forecast 2022-2030."

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A livestock monitoring system is developed using GPS, sensors, etc., and integrated with a network protocol for communication.

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Rising Demand for Meat & Animal Products drives Market Growth

The increasing demand for livestock and associated products is one of the key growth drivers of the global livestock monitoring market. There has been a high demand for certain consumable foods, cosmetic products, leather products, etc. This is attributed to the growing population and the rising disposable income. Accordingly, there is a demand for quality food, given the health concerns and the diseases that affect the animals.

Further, increased meat consumption offers growth opportunities. For instance, 350 million tons of meat are consumed annually. Most of Europe's meat production in 2020 was from pigs (23 million tons) and 13.6 million tonnes from poultry. The introduction of artificial intelligence in the livestock sector has helped measure animal health more closely. Besides, with increasing need and demands, the number of livestock farms like poultry farms, swine farms, dairy farms, etc., has grown. Such aspects further contribute to market demands.

On-Premise Software under Product Type has the Largest Revenue Share

The on-premise software is installed on a site's server or hosted by the public cloud platform. It has proved to be a successful product. It helps in proper monitoring of the animals and protects data securely. For instance, Ranch Manager Open is a livestock management software that keeps detailed livestock records. Also, it records animal treatment and location.

Asia-Pacific: Fastest-Growing Region

The major growth drivers of the region are the increasing number and size of dairy farms, the development of sensors that can gather a vast range of information, and the demand for cost-effective solutions regarding livestock management. Also, the growing demand for large cattle & poultry and the use of advanced technologies for tracking and monitoring the animals offer growth opportunities. Also, South Asia is one of the primary regions for dairy production, accounting for 25-25% of the global milk production in 2019.

Since the well-established players do not possess major shares, the market is fragmented. Also, companies are introducing new technologies increasingly accepted by the consumers. Some of the eminent firms in the market are GEA Group, Lely, DeLaval, BouMatic, Nedap NV, etc.

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