The global Livestock Identification Market is estimated to be valued at US$ 3.51 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Livestock identification products help farmers to maintain records of individual animals and monitor their health, reproduction performance and productivity. Identification devices such as tags, tattoos, brands or other visible markings are attached to individual livestock and help to uniquely identify each animal. These devices use technologies like RFID, GPS and AI for more effective monitoring and management.
Market Overview:
The livestock identification market comprises products like tags, tattoos, brands and other devices that help identify individual livestock. RFID and GPS enabled tags along with AI integrated monitoring systems offer advanced tracking of animal health, location and behavioral patterns. This helps farmers improve productivity and profits from livestock rearing.
Market key trends:
One of the key trends in the livestock identification market is the growing adoption of AI technologies. AI integrated monitoring systems use computer vision, cloud computing and machine learning to automatically track animal movements, feeding patterns and signs of disease. This data-driven approach helps detect issues sooner and enables precision livestock farming. Livestock management is becoming more automated with AI, reducing labor costs and improving outcomes for farmers. Technologies like computer vision aided cattle monitoring are seeing increased interest from dairy and cattle farmers.
Segment Analysis:
The global livestock identification market is segmented into product, livestock, technology, and region. Based on product, tags and tattoos segment dominated the market in 2023, accounting for around 40% share of the total market. Tags and tattoos are preferred over other identification devices as they are cost-effective and easy to deploy and read.
Key Takeaways:
The Global Livestock Identification Market Demand is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing need for livestock traceability and disease control.
Regional analysis
North America dominated the global livestock identification market in 2023, accounting for around 35% share of the total market demand. Presence of well-established livestock farming practices and strict regulations regarding animal identification drives the demand for livestock identification solutions in the region. Asia Pacific is expected to witness the fastest growth over the forecast period, owing to rising meat consumption and increasing adoption of advanced livestock management practices in countries such as China and India.
Key players
Key players operating in the livestock identification market are Allflex, Datamars, Zee Tags, Leader Products, Fitbit, SCR Dairy, Animana, Cainthus, Connecterra, CowManager, HerdInsights, Moocall, Quantified AG, BouMatic, IdentiGEN, Ceres Tag, Ardes, LAIPSON, Kupsan, and Stockbrands. Allflex dominated the market with around 15% share in 2023 owing to its well-recognized brand name and wide product portfolio in livestock management solutions. Datamars is another leading player focusing on RFID livestock tags.
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The global Livestock Monitoring and Identification Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the livestock monitoring and identification market include GEA Farm Technologies, DeLaval, Afimilk Ltd., BouMatic, LLC, Merck Animal Health, Dairymaster Ltd., Lely International NV, Fancom BV, Fullwood Packo Ltd. , and Nedap NV.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Livestock Monitoring And Identification Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/livestock-monitoring-and-identification-market/download-sampleMarket DynamicsAn increasing number of animals getting infected by the disease and the increasing need for livestock monitoring solutions is the key driving factor for livestock monitoring and identification system market growth, as it enables the farmers to treat and prevent spreading of the disease.
Other factors propelling its market growth are increasing cattle population, increase in dairy farms, continuous improvement of tracking technology, and adoption of the same.
Furthermore, animal traceability programs by the government will accelerate market growth.
