Global Livestock Monitoring Market Overview
The key driver impacting the livestock monitoring market is the growing demand for animal products such as meat, milk, and eggs. The ever increasing demand leads to a rapidly expanding livestock industry globally. The food and agriculture organization(FAO) report shows that livestock production accounts for over 40 percent of the gross value of the agricultural output globally. In developing countries, where it accounts for one-third, its share is increasing quickly. For instance, According to the FAO, South Asia shows a massive rise in demand for poultry meat, as it is increased by 725 percent overall. This is determined by India's growing market, where a surprising 850 percent increase is projected over the 30 years (from 1.05 to 9.92 million tonnes per annum).
Moreover, the rise in cattle population, together with the rising adoption of livestock monitoring technology by farmers, is also estimated to be a significant determinant that adds growth to the market.
According to Value Market Research, the global livestock monitoring market was valued at around USD 3625 million in the year 2019 and is estimated to grow at a CAGR of about 15% during the forecast period of 2020-2026.
In addition to this, the escalating occurrence of zoonotic diseases globally is predictable to enhance livestock monitoring market demand under the forecast period. For instance, According to WHO globally, approximately one billion cases of ill health, and millions of death arise every year due to zoonoses. Around 60% of budding infectious diseases that are reported globally are zoonoses. As per the CDC 2017 report, six out of every ten known infectious diseases in people can be widened from animals. Three out of every four new infectious diseases in people come from animals.
However, the high cost of precision livestock farming solutions may hamper the global livestock monitoring industry in the long run. The lack of technological knowledge and expertise in dairy farmers is likely to negatively impact market growth. The current industry trend, such as the growing cattle population with increasing dairy farms, is expected to create new market opportunities for the key players in the coming years.
The livestock monitoring market is vast, with a large number of local and global players. The key leaders follow different strategies to improve their market position, such as mergers, expansions, acquisitions, and product innovations to augment their market share across the world. For instance, in January 2018, DeLaval had launched DeLaval in service all-inclusive solutions to give consumables and services to dairy farmers. With this new launch, the company can function as both provider and counselor to its customers. The well known key players included in the report are GEA Group Aktiengesellschaft, DeLaval Inc., Afimilk Ltd., Sensaphone, Dairymaster Ltd, Antelliq, BouMatic, Lely, Fancom BV, Fullwood Pack, and many others.
In this research report, the livestock monitoring market is segmented by animal type, component, application, and region.
Analysis by Animal Type:
By animal type, the report is categorized into cattle, poultry, swine, equine, and others. The cattle segment dominates the animal type segment in 2019, with over one-third of the market share. It is due to the rise in the consumption of dairy products, and growing liking towards beef meat driving the animal type segment of the livestock monitoring market in the forecast period. Moreover, beef and dairy products are under continuous inspection by various public and private organizations to make sure the safety quality of these products and the prevention of disease transmission.
Analysis by Component:
By component, the report is categorized into Hardware (sensors, GPS, and other), Software (on-cloud and on-premise), and services(Integration & development, Maintenance & Support, Others). Hardware dominates the component segment in 2019 with a maximum market share of 60%. It is due to the rising adoption of livestock monitoring devices by farmers to improve productivity and control livestock. These devices are safe for the animals, and data collected through these devices make farmers aware of healthy feeding, reproduction, and the animals' wellbeing, thus creating more demand in the forecast period.
Analysis by Application:
By application, the report is categorized into milk harvesting, breeding management, feeding management, animal health monitoring & comfort, heat stress, behavior monitoring, and others. The feeding management segment is accounted for the largest share of 25% in 2019. It is due to the growing need to monitor the food intake of the animal. Moreover, the growing awareness amongst the livestock owners for appropriate diet formulation is expected to create more demand for livestock monitoring in feed management application in the forecast period.
Analysis by Region:
In the regional outlook of the global livestock monitoring market, the North America region is showing considerable growth in the forecast period. It is expected to show massive growth due to the progressive developments of technology coupled with increased internet penetration in the region. Moreover, the rising demand for meat among consumers in the U.S., which creates a need to prevent zoonotic and food-borne diseases related to livestock in this region, contributes to the growth of the livestock monitoring market across North America.
Market Segmentation covered in the Report:
By Animal Type
- Cattle
- Poultry
- Swine
- Equine
- Others
By Component
- Hardware (Sensors, GPS, and Other)
- Software (On-cloud, and On-premise)
- Services(Integration & development, Maintenance & Support, Others)
By Application
- Milk Harvesting
- Breeding Management
- Feeding Management
- Animal Health Monitoring & Comfort
- Heat Stress
- Behavior Monitoring
- Others
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.