Press release
Precision Livestock Farming Market Set to Reach USD 7.33 Billion by 2030
The global Precision Livestock Farming (PLF) market is experiencing significant growth, with its valuation expected to rise from USD 4.14 billion in 2023 to approximately USD 7.33 billion by 2030. This expansion reflects a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period .PLF integrates advanced technologies such as sensors, automation, and data analytics to enhance livestock management, leading to improved productivity, animal welfare, and operational efficiency.
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✦ Competitive Landscape
The PLF market is characterized by the presence of several key players driving innovation and technological advancements. Notable companies include:
BouMatic LLC
Fancom B.V.
Afimilk Ltd.
✦ Regional Demand Highlights
North America currently leads the PLF market, attributed to its advanced technological infrastructure and emphasis on sustainable farming practices. Europe follows closely, with countries investing in smart farming initiatives. The Asia-Pacific region is emerging as a significant market, driven by increasing demand for efficient livestock management solutions .
Growth Opportunities in Vietnam
Vietnam is witnessing a surge in PLF adoption, propelled by strategic acquisitions aimed at enhancing livestock production capabilities. For instance, BAF Vietnam has acquired stakes in multiple livestock companies, including a 70% stake in Hòa Phát Bốn Livestock and a 99.99% stake in Tuyết Hoa Đắk Lắk Livestock, to bolster its presence in the sector .
Trends in Thailand
Thailand's agricultural sector is embracing precision farming to improve productivity and sustainability. The integration of data-driven farm management systems is facilitating better decision-making and resource utilization, positioning Thailand as a growing market for PLF technologies .
Consolidation in Japan
Japan is focusing on consolidating its PLF market through technological advancements and strategic collaborations. The country's emphasis on innovation is fostering the development of sophisticated livestock monitoring systems, enhancing overall farm efficiency .
Updation in South Korea
South Korea is updating its livestock farming practices by integrating PLF technologies to address challenges such as labor shortages and disease management. The adoption of automated systems is contributing to improved animal health monitoring and farm productivity .
Opportunities in Singapore
Singapore is exploring PLF solutions to enhance its limited agricultural sector. The focus is on adopting innovative technologies to maximize output and ensure food security, creating opportunities for PLF providers to introduce tailored solutions.
Growth in the United States
The U.S. is at the forefront of PLF adoption, with farmers leveraging wearable devices and IoT technologies to monitor livestock health and behavior. Companies like Merck Animal Health are leading the development of such technologies, aiding in early disease detection and efficient herd management .
Trends in China
China's PLF market is expanding rapidly, driven by the need to meet the growing demand for protein and dairy products. The integration of advanced technologies is enhancing livestock productivity and aligning with the country's food security goals .
Consolidation in Europe
Europe is consolidating its PLF market through stringent regulations and a strong focus on animal welfare. The region's commitment to sustainable farming practices is encouraging the adoption of precision technologies, fostering market growth .
✦ Recent Developments and Mergers
In 2023, Trimble acquired a leading agricultural data analytics company to enhance its precision farming solutions suite .
BAF Vietnam has made multiple acquisitions to strengthen its livestock production capabilities, including significant stakes in various livestock companies .
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✦ Precision Livestock Farming Market Classifications
by Offering
Hardware
Software
Services
by Technology
Identification And Tracking
Milking Robotic Systems
Poultry Monitoring and Robotic Systems
Precision Feeding Systems
Sensors And Monitoring Devices
Software And Data Analytics
GPS Tracking and Geolocation Systems
Others
by Farm Type
Dairy Farms
Poultry Farms
Swine Farms
Others (Equine and Bovine Farms)
by Application
Livestock Health and Behavior Monitoring Management
Environmental Monitoring
Feed Management
Milk Harvesting
Sorting, Animal Weighing Data Analysis, And Financial
Waste Management
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✦ The following companies are included in the market for Precision Livestock Farming :
1. Afimlik (Israel)
3. Allflex (Israel)
4. Antelliq
5. BouMatic (US)
7. Connecterra
8. Cowlar
9. Dairymaster (Ireland)
10. DeLaval (Sweden)
11. Fancom B.V.
12. Farm Control
13. Fullwood Paco Ltd.
14. GEA Farm Technology (Germany)
16. HokoFarm-Group
17. IceRobotics
18. Lely International (Netherlands)
20. Moocall
21. Trioliet B.V
22. VDL Agrotech
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/precision-livestock-farming-market/198396/
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