Livestock Monitoring Market projected to reach from USD 1,450 million to USD 3,415 million in 2029 will increase at a CAGR of 11.3% | Size, Share, Trends Report

Livestock Monitoring Market

Livestock Monitoring Market Reached USD 1,450 million in 2021 and projected to touch USD 3,415 million in 2029 growing at a high CAGR of 11.3%.

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The factors driving the growth of Livestock Monitoring Market includes rising awareness about the benefits of livestock monitoring, increase in the consumption of meat and dairy products, prevalence of zoonotic diseases and growing focus on livestock rearing around the world. According to the report published by Statista, the Global Diary Market was calculated around USD 871 billion in 2021 and is expected to reach USD 1,128 billion by the end of 2026, which will accelerate the Livestock Monitoring Market size in the approaching years. Moreover, rise in the number of poultry and swine farms, increasing adoption of advanced technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) by farmers and growing awareness about genetic breeding, milk harvesting and animal nutrition, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic mergers and acquisitions between key industry players, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.

However, growth of the Livestock Monitoring Market is hindered attributed to high cost of livestock solutions.

The leading players operating in the market are BouMatic, Merck & Co. Inc., DAIRYMASTER, GEA Group Aktiengesellschaft, DeLaval Inc., Afimilk Ltd., Lely, Fancom BV, Nedap N.V., and Fullwood Packo, among others.

Based on Application, the Behavior Monitoring & Control segment is predicted to grow at a remarkable CAGR during the forecast period

Increasing adoption of hardware devices such as sensors and RFID, to detect disease in livestock, and rising awareness about livestock monitoring technology, are some of the factors responsible for the segment's growth.

Based on Livestock Type, the Cattle segment is projected to hold the highest market share over the forecast period

Growing awareness about the benefits of livestock monitoring devices and increasing consumption of dairy products, are propelling growth of the segment.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Growing adoption of advanced livestock monitoring devices, increasing consumption of meat, rising internet penetration rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In 2020, Nedap N.V. and VAS collaborated to enhance the level of integration between the VAS Platfrom and Nedap CowControl. This advanced integration allows both the parties to empower dairy farmers worldwide and make them happier.
In 2020, Merck & Co. Inc., acquired IdentiGEN Ltd., one of the leading DNA-based animal traceability solutions for Livestock and Aquaculture to enhance its livestock solution businesses.

Market Segmentation

Segmentation by Offering

Hardware
Software
Services

Segmentation by Livestock Type

Cattle
Poultry
Swine
Equine
Others

Segmentation by Farm Size

Small Farms
Med-sized Farms
Large Farms

Segmentation by Application

Milk Harvesting Management
Breeding Management
Feeding Management
Heat Stress Management
Animal Comfort Management
Behavior Monitoring & Control
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.