Summary – A new market study, “Livestock Monitoring Market, by Component (Services, Software, Hardware), Livestock Type (Cattle, Equine, Swine, Poultry, Swine), Application, and By Geography (NA, EU, APAC, LATAM and MEA) – Analysis, Share, Trends, Size, & Forecast From 2020 – 2026” has been featured on WiseGuyReports.
REPORT HIGHLIGHT
Livestock monitoring market was valued at USD 1.48 billion by 2019, growing with 9.6% CAGR during the forecast period, 2020-2026
Market Dynamics
The growing adoption of AI and IoT by dairy farmers, rising focus on livestock monitoring and detection of disease, and considerable cost-saving with livestock monitoring management are the major factors driving the growth of global livestock monitoring market. As per USDA (The U.S. Department of Labor), it is estimated that the employment of dairy farm workers will decrease by 6% by 2024. The governments of various countries are investing immensely to mitigate these mounting challenges and enhance productivity in the livestock industry.
In addition, the increasing population of cattle with growing dairy farms and the rising adoption of livestock monitoring technology in the emerging economies will create lucrative opportunities in the global industry during the forecast period. However, the lack of trained professionals and accelerated climate change is predicted to restrict market growth in the coming years.
Component Takeaways
The software component segment is estimated to grow at the highest growth rate during the period of forecast. This segment is further categorized into on-premise and on-cloud components. The use of software allows the use of storage, recording, analysis retrieval, and dissemination of information regarding a large number of cattle. The software systems increase the production efficacy of livestock and also enables better management of resources. On the other hand, the hardware component segment held the largest market size in 2018 owing to the growing adoption of hardware devices such as GPS technology, smart cameras, sensors, and RFID on the livestock farms.
Livestock Type Takeaway
The cattle livestock type segment dominated the worldwide livestock monitoring market in 2018 and is expected to continue its dominance throughout the forecast. This is mainly due to the increasing population of cattle and growth in adoption of livestock monitoring technology. In addition, the developing economies such have a huge number of cattle, which will propel the segmental market growth during the estimated period.
Application Takeaway
The feeding management segmented to grow at the highest CAGR by 2030 owing to the rising availability of innovative feeding technologies such as dry feeding systems and liquid feeding systems. This segment is projected to dominate the global livestock monitoring industry in terms of size throughout the forecast. On the other hand, the milk harvesting management segment is the largest adopter of monitoring solutions. The increasing demand for dairy products, need to bring efficacy to production, rising focus of farmers regarding increasing milk yield, and growing preference for automated milk harvesting systems are some of the factors expected to boost the segmental market growth during the forecast period.
Regional Takeaway
The Asia Pacific market for livestock monitoring is estimated to grow at the highest CAGR in the projected timeframe. The population growth in the developing economies of this region is increasing pressure on the suppliers of livestock products in order to become more productive and efficient. This is ultimately pushing the livestock monitoring solutions’ sales upward. In addition, the growing penetration of IoT in the application of animal monitoring is also expected to boost the regional market in the coming years.
Key Vendors Takeaway
The prominent players functioning in the global livestock monitoring market include GEA Farm Technologies, Afimilk Ltd., DeLaval, BouMatic, LLC, Dairymaster Ltd., Antelliq Corporation, Lely International NV, Fullwood Packo Ltd., Fancom BV, and Nedap NV.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2015 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LIVESTOCK MONITORING MARKET, BY COMPONENT
Software
o On-premise
o Cloud
Hardware
o Global Positioning System (GPS)
o RFID Tags & Readers
o Sensors
Service
o Managed Service
o Maintenance & Support
o Integration & Deployment
GLOBAL LIVESTOCK MONITORING MARKET, BY LIVESTOCK TYPE
Poultry
Swine
Equine
Cattle
Others
GLOBAL LIVESTOCK MONITORING MARKET, BY APPLICATION
Milk Harvesting Management
Breeding Management
Feeding Management
Heat Stress Management
Animal Comfort Management
Behavior Monitoring & Control
Others
GLOBAL LIVESTOCK MONITORING MARKET, BY REGION
North America
o The U.S.
o Canada
Europe
o Germany
o France
o Italy
o Spain
o United Kingdom
o Rest of Europe
Asia Pacific
o India
o China
o South Korea
o Japan
o Singapore
o Rest of APAC
Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Rest of MEA
About Us:
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Contact Us:
NORAH TRENT
Ph: +162-825-80070 (US)
Ph: +44 2026002763 (UK)
Esticast Research and Consulting has recently published a research report titled, the “Global Electric Vehicle Battery Market”.
The report serves as an impetus tool to make important decisions, important deals, and offer better profitability by prioritizing market goals for the analysts.
The testimonials included in the report by Esticast Research and Consulting involves a highly qualified team of experts who work rigorously to collect the data and reveal the real scenario of the Electric Vehicle Battery market.About Electric Vehicle Battery MarketAn Electric-Vehicle Battery (EVB), also called as traction battery is installed in order to supply power to the propulsion system of battery electric vehicles.
Traction batteries are used in various commercial and passenger vehicles such as forklifts, electric Golf carts, riding floor scrubbers, electric motorcycles, full-size electric cars, trucks, vans, and other electric vehicles.
The battery is an indispensable part of any EV and is makes up a considerable cost of BEVs, which unlike for fossil-fueled cars, profoundly manifests itself as a price of range.
Constantly growing concerns regarding exhaustion of fossil fuels and degrading environmental conditions are the major factors which are stimulating the demand of electric vehicles.
