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Livestock Monitoring Market Poised for Robust Growth, Projected to Reach $3.6 Billion by 2030
Livestock Monitoring Market
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Market Segmentation and Dynamics
The livestock monitoring market is segmented into various categories, including offering, animal type, deployment mode, application, and technology. This detailed segmentation allows for an in-depth analysis of industry competitors and an understanding of regional and country-specific market dynamics.
Offering: The market is divided into hardware, software, and services. In 2024, the software segment is projected to dominate, driven by the substantial volume of data generated from sensors, RFID tags, neck collars, and surveillance cameras. These technologies are crucial for monitoring livestock health, managing remote herds, customizing diets, and preventing theft.
Animal Type: The market is categorized into cattle, poultry, swine, equine, and other animal types. The cattle segment is expected to hold the largest market share in 2024, attributed to rising dairy consumption. The Organisation for Economic Co-operation and Development (OECD) forecasts a 1.0% annual increase in global per capita consumption of dairy products over the next decade. The need to ensure product safety and prevent disease transmission is a significant driver. Despite this, the poultry segment is anticipated to achieve the highest CAGR during the forecast period.
Deployment Mode: Segmented into on-premise and cloud-based deployments, the on-premise segment is projected to hold a larger share in 2024. This preference is due to security concerns associated with cloud solutions and the availability of trained IT personnel and infrastructure. Nonetheless, the cloud-based segment is expected to exhibit the highest CAGR throughout the forecast period.
Application: The market's applications include milk harvesting, breeding management, feeding management, animal health monitoring, heat stress, behavior monitoring, and others. In 2024, feeding management is forecasted to dominate, driven by the growing need for continuous access to water, feed, and maintaining clean living environments for livestock. Effective feeding and manure handling are essential for veterinary health and reducing disease risk. However, the milk harvesting segment is expected to achieve the highest CAGR.
Technology: Technologies in focus are IoT, artificial intelligence, big data analytics, GPS, and others. The IoT segment is anticipated to capture the largest share in 2024, owing to its critical role in real-time health monitoring, disease prevention, and optimization of breeding practices. This segment is also projected to grow at the highest CAGR.
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Regional Insights
Geographically, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. North America is expected to command the largest market share in 2024, driven by high meat consumption rates and significant production of chicken meat, with the U.S. being a global leader. According to the Food and Agriculture Organization of the United Nations (FAO), the U.S. produced 20.4 million metric tons of broiler meat in 2021. The prevalence of zoonotic diseases further fuels the demand for advanced monitoring technologies. Despite this, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period.
Key Industry Players
The livestock monitoring market features prominent players such as: GEA Group Aktiengesellschaft (Germany), Afimilk Ltd. (Israel), a subsidiary of Kibbutz Afikim - Agricultural Cooperative Society Ltd. (Israel), DeLaval (Sweden), a subsidiary of Tetra Laval (Switzerland), Sensaphone (U.S.), BouMatic (U.S.), DAIRYMASTER (Ireland), Lely (Netherlands), Fancom BV (Netherlands), Fullwood JOZ Ltd (U.K.), Communications Group Lethbridge (Canada), Merck & Co., Inc. (U.S.), HID Global Corporation (U.S.), Hokofarm Group (Netherlands), Nedap Livestock Management (Netherlands), ENGS Systems (Israel), CowManager B.V. (Netherlands), HerdInsights (Ireland), and Zoetis Inc. (U.S.).
This detailed report provides invaluable insights for stakeholders looking to navigate the evolving landscape of the livestock monitoring market and leverage growth opportunities in this dynamic sector.
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