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Top Market Shifts Transforming the AI In Livestock Farming Market Landscape: Key Insights
AI In Livestock Farming Market
What Is the Expected CAGR for the AI In Livestock Farming Market Through 2025?
The market size for AI in livestock farming has seen a considerable increase recently. The expected growth from $0.47 billion in 2024 to $0.6 billion in 2025, represents a compound annual growth rate (CAGR) of 27.2%. Factors such as increased industrialization, heightened demand for protein, the challenge of growing land scarcity, heightened environmental consciousness, and mounting urbanization contributed to the market's expansion during the historical period.
What's the Projected Size of the Global AI In Livestock Farming Market by 2029?
Expectations indicate that the AI in livestock farming market will experience rapid expansion in the forthcoming years, with estimates putting it at a value of $1.55 billion by 2029. This growth, progressing at a compound annual growth rate (CAGR) of 26.8%, is mainly due to factors such as the adoption of precision agriculture, rising requirements for resource efficiency, increasingly complex supply chains, a heightened focus on biosecurity and disease prevention, and an increase in labor costs. The period of forecast also sees majors trends on the horizon, such as technological advances, the broad application of artificial intelligence, farm automation, precision livestock farming techniques, advancements in animal breeding technology, wearable health monitoring devices, and genomic selection.
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Top Growth Drivers in the AI In Livestock Farming Industry: What's Accelerating the Market?
The rise in the need for livestock products is forecasted to drive the expansion of AI in the livestock farming industry. Livestock products include various goods like meat, dairy, eggs, and other products obtained from farm-reared animals. AI technology provides farmers with the ability to gather, analyze, and understand vast quantities of data from numerous sources, including sensors, drones, and satellite imagery. Utilizing this data, farmers can make educated decisions about livestock health, diet, breeding, and farming methods, which enhances productivity and efficiency. For example, data from the Australian Bureau of Statistics in March 2023, showed an increase in lamb meat production from 121.8 tons in 2021 to 125.6 tons in 2022, signifying a continuous upward trajectory. As a result, the growing demand for livestock products is contributing to the expansion of AI in the livestock farming industry.
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What Trends Will Shape the AI In Livestock Farming Market Through 2029 and Beyond?
Key players in the AI livestock farming market are innovating smart solutions like generative AI programs to improve productivity and efficiency in animal farming. These programs are tailored to serve the veterinary, dairy, and animal farming sectors, which are essential parts of food production and animal welfare. For example, eVerse.AI, an American tech firm, introduced CowGPT in December 2022 - the pioneer generative AI program specially concocted for the veterinary, dairy, and animal farming sectors. The generative AI mechanism utilized in CowGPT can produce incredibly realistic and intricate content that mimics human creativity, hence proving to be a beneficial instrument for these sectors.
What Are the Main Segments in the AI In Livestock Farming Market?
The AI in livestock farming market covered in this report is segmented -
1) By Component: Solution, Software, App, Internet of Things Sensors, Service
2) By Technology: Computer Vision, Machine Learning, Predictive Analysis
3) By Application: Real-Time Livestock Behavior Monitoring, Healthcare And Disease Monitoring, Livestock Feed And Water Monitoring, Livestock Control And Fencing Management, Livestock Production Management
4) By End-User: Small And Medium-Sized Farms, Large Sized Farms
Subsegments:
1) By Solution: Animal Health Monitoring, Farm Management Systems, Feed Management Solutions, Precision Livestock Farming
2) By Software: Predictive Analytics Software, Livestock Management Software, Health Monitoring Software
3) By App: Mobile Livestock Management Apps, Animal Tracking Apps, Farm Performance Monitoring Apps
4) By Internet of Things Sensors: Wearable Sensors For Livestock, Environmental Sensors For Farms, Health Monitoring Sensors
5) By Service: Consulting Services, Integration Services, Maintenance And Support Services
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Which Top Companies are Driving Growth in the AI In Livestock Farming Market?
Major companies operating in the AI in livestock farming market report are Zoetis Inc.; Rex Animal Health Inc.; DeLaval International AB; Sentera LLC; Afimilk Ltd.; Actility SA; PrecisionHawk Inc.; Allflex Group; AgriWebb Holdings Pty Ltd.; Quantified AG; H2Oalert Inc.; Faromatics S.L.; FarrPro Inc.; SwineTech Inc.; Agersens Limited; Connecterra B.V.; Cainthus Corporation; Vence Corporation; BinSentry Inc.; Octopus Robots; Livestock Labs Inc.; BovControl; SomaDetect Inc.; Moocall Ltd.; Simple Ag Solutions
Which Regions Will Dominate the AI In Livestock Farming Market Through 2029?
North America was the largest region in the AI in livestock farming market in 2024. The regions covered in the AI in livestock farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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