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Market Overview
- The Global Animal Tracking Market is expected to grow at a CAGR of 10.14% during the forecasting period (2020-2027).
- Animal tracking devices help in monitoring and understanding the movements of individuals and groups move within restricted areas and migrate across the oceans and continents. The key benefits associated with the usage of tracking devices for animals include easy animal identification, ability to conduct frequent health monitoring activities remotely, early mastitis detection, and others. Increasing consumer demand for cost-effective health & behavioral monitoring and favorable government policies are primary factors driving the global animal tracking market.
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Market Dynamics:
- Increasing demand for highly efficient tracking equipment from commercial cattle growers to monitor the behavior of their cattle is the primary factor driving the global animal tracking market. Rapidly changing environmental conditions, increasing interests among the cattle growers towards advanced behavioral and health monitoring of their species is expected to further boost the adoption of tracking devices in animal farms and zoos over the forecast period. The usage of tracking devices likely increases milk yield by 15% in dairy cattle. Increasing concerns over the farmers towards preventive health maintenance of their animals to boost the annual yield are expected to boost the utilization of animal tracks during the next few years. Increasing the adoption of tracking devices by the animal organization to monitor the poaching activities of various wildlife animals is additionally driving the global animal tracking market during the forecast period. Moreover, increasing research activities across the major developed nations towards the behavioral analysis of various species through tracking devices is further expected to boost the market for Animal Tracking globally during the forecast period.
- However, the high cost of the existing devices and lack of awareness among the communities regarding advanced animal tracking devices hindering the growth of animal tracking market globally during the forecast period.
Market Segmentation Analysis
- The global animal tracking market is segmented based on product into GPS tags, Argos Doppler tags, electronic tags, and others.
- GPS tags dominate the global animal tracking market owing to high technological and economical variance over its other compatriots. Current GPS animal tags have the potential to calculate the location of an animal at specific time intervals using positions estimated by a network of satellites. Various body attachments used through GPS technology include collar attachments, harness attachments, direct attachment, and others. Increasing the adoption of GPS tags by the scientists, farmers, and other wildlife communities to prevent poaching activities due to its high efficiency in delivering precise locations of respective species is further expected to boost the market for GPS tags globally during the forecast period.
Market Geographical Analysis
- By region, the global animal tracking market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.
- North America is expected to dominate the global animal tracking market owing to the high presence of stringent government regulations and policies towards the implementation of animal tracking equipment’s in current farming practices. The United States Department of Agriculture mandates and regulations regarding the health and safety of US livestock are expected to boost the adoption of animal tracking devices during the forecast period. The high presence of commercial farming communities associated with the adoption of advanced tracking equipment for the healthy maintenance of cattle and other livestock is further expected to boost the market for animal tracking equipment in North America during the forecast period.
Market Competitive Trends
- The global animal tracking market is currently undergoing huge R&D activities for the development of novel technologies with higher batter life. New product launches with higher battery life, lighter in weight properties is the major strategy adopted by the prominent players in the global animal tracking market.
- In October 2019, Find I launched it's new Find My e-Bell Model 2 Collar animal collar which is robust, smaller, lighter, and possess longer-life replaceable battery.
- In July 2019, San Francisco based animal tracking devices manufacturer launched pet wearables Whistle Go & Whistle Go Explore which has an inherent ability to track animal location, activity, and health simultaneously.
- Some of the key players in the global animal tracking market include Telonics, Inc., Cellular Tracking Technologies LLC, Telemetry Solutions, Inc., Digital Animal, are among many other companies.
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