Global Livestock Monitoring Market Estimated to Gain $15474.13 Million in Revenue by 2028

According to Triton's report, the global livestock monitoring market, which attained $4534.03 million in 2021, is expected to register progress at 19.33% of CAGR by 2028.

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

Livestock monitoring, also known as precision livestock farming, involves managing farms and farm animals with the help of technology such as GPS tracking, milking robots, etc.

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According to Triton's Market Research, the global livestock monitoring market is expected to grow at a CAGR of 19.33% from 2022 to 2028, attaining revenue worth $15474.13 million by 2028.

With the advancement in technology, artificial intelligence and machine learning are fast pacing their way to real-time monitoring of animals. Machines are taking the place of the human workforce, making things easier, faster, and more efficient. The livestock industry is becoming more feasible with precision livestock farming like monitoring the health of animals, taking care of animal foods, etc. Moreover, the growing demand for meat and animal products has necessitated farmers to adapt to modern technology, raising the demand for livestock monitoring. Therefore, these factors augment the livestock monitoring market's growth.

The installation of technologies in livestock monitoring requires a heavy investment, becoming a hindrance for small-scale farmers. Besides this, farmers do not possess the technical knowledge to operate modern equipment like drones, Big Data, AI, etc., hampering the livestock monitoring market's growth.

The global livestock monitoring market is categorized into application, animal, and product type. The application segment includes behavior monitoring, milk harvesting, breeding management, animal health monitoring & comfort, feeding management, heat stress, and other applications. On the other hand, animal type is divided into equine, poultry, swine, goat & sheep, cattle, and others. The product type is segmented into services, standalone software, and hardware with integrated software & systems.

Furthermore, the services comprise maintenance & support, integration & deployment, and other services, whereas the standalone software contains on-cloud and on-premise. Lastly, the hardware with integrated software & systems includes sensors, GPS, and others.

Geographically, North America holds the largest livestock monitoring market and is likely to continue its lead over the forthcoming years. The continuous rise in the population has boosted the demand for livestock food, further increasing the healthy production of animal food. Moreover, to meet the population's demand, numerous livestock farms are opening, thus mandating the incorporation of livestock monitoring. Besides, the US Department of Agriculture has mandated radio frequency identification for real-time detection and proper monitoring of animals on the farm. These factors accelerate the growth of the livestock monitoring market.

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

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Question & Answer: Livestock Monitoring Market

Question 1: What element aids in the growth of the livestock monitoring market?
Answer: With the advancement in technology, artificial intelligence and machine learning are fast pacing their way to real-time monitoring of animals. Machines are taking the place of the human workforce, making things easier, faster, and more efficient. The livestock industry is becoming more feasible with precision livestock farming like monitoring the health of animals, taking care of animal foods, etc. Moreover, the growing demand for meat and animal products has necessitated farmers to adapt to modern technology, raising the demand for livestock monitoring. Therefore, these factors augment the livestock monitoring market's growth.

Question 2: What factors are hampering the livestock monitoring market's growth?
Answer: The installation of technologies in livestock monitoring requires a heavy investment, becoming a hindrance for small-scale farmers. Besides this, farmers do not possess the technical knowledge to operate modern equipment like drones, Big Data, AI, etc., hampering the livestock monitoring market's growth.

Question 3: Which region holds the largest livestock monitoring market?
Answer: Geographically, North America holds the largest livestock monitoring market and is likely to continue its lead over the forthcoming years. The continuous rise in the population has boosted the demand for livestock food, further increasing the healthy production of animal food. Moreover, to meet the population's demand, numerous livestock farms are opening, thus mandating the incorporation of livestock monitoring. Besides, the US Department of Agriculture has mandated radio frequency identification for real-time detection and proper monitoring of animals on the farm. These factors accelerate the growth of the livestock monitoring market.

Question 4: What are the noteworthy companies listed in the livestock monitoring market?
Answer: The noteworthy companies in the livestock monitoring market include Valley Agriculture Software, Afimilk Ltd, Connecterra BV, Boumatic, Cainthus, Delaval, Cattle Eye Ltd, Allflex Livestock Intelligence, Herdx Inc, Dairymaster, Cowmanager BV, GEA Group, Sensaphone, Nedap NV, and Lely.

Related Report
Global Veterinary Research Laboratory (VRL) Market

The global veterinary research laboratory (VRL) market is expected to grow from 2021 to 2028 at a CAGR of 10.63%. It is likely to gain $5167.90 million by 2028.

Veterinary research laboratories use various technologies to detect and monitor various veterinary diseases. The demand for the market is mainly due to the high prevalence of zoonotic diseases and government support to regulate animal healthcare.

On the other hand, a lack of skilled veterinary professionals in underdeveloped countries hinders the market's growth. Nevertheless, the growing government initiatives to promote animal health and prevent animal diseases are expected to present profitable growth opportunities for the market.

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