The overall livestock monitoring market is expected to grow from USD 1.4 billion in 2021 to USD 2.3 billion by 2026; it is expected to grow at a CAGR of 10.4% during 2021–2026. Key factors fueling this market’s growth include livestock monitoring and disease detection; increasing adoption of IoT and AI by dairy farmers; and substantial cost-saving associated with livestock monitoring management industry. Growing population of cattle with increasing dairy farms and increasing adoption of livestock monitoring technology in developing countries create a strong demand for livestock monitoring in the midst of COVID-19. However, high technological cost and limited technical knowledge and skills of farmers restrains the market growth.
“Behavior Monitoring & Control application to hold largest share of livestock monitoring market by 2026”
The livestock monitoring market for behavior monitoring & control application is expected to hold the largest share during the forecast period, mainly due to the increasing adoption of hardware devices such as sensors, RFID tags & readers, and livestock RFID active collars for early detection of disease in livestock, management of herd, and identification and tracking of livestock. Increasing awareness among owners regarding livestock monitoring technology along with the increasing popularity of software solutions for animal behavior and health monitoring is fueling market for this application.
“Europe to be largest market for livestock monitoring by 2026”
Europe is expected to hold the largest share of the livestock monitoring market during the forecast period. Europe is expected to offer a huge platform for potential growth of the livestock monitoring market. The already existing infrastructure of modern telecommunication offers great potential for the growth of the livestock monitoring market in Europe.
Breakdown of Profiles of Primary Participants:
- By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
- By Designation: C-level Executives - 30%, Directors - 25%, and Others - 45%
- By Region: North America - 45%, Europe - 30%, APAC - 20%, and RoW - 5%
This report offers detailed insights into the Livestock monitoring market by offering, which is further classified into hardware, software, and services. Based on livestock type, the market is segmented into cattle (dairy and beef), poultry, swine, equine, and others (sheep, goat, and deer). By application, the livestock monitoring market is segmented into milk harvesting management, breeding management, feeding management, heat stress management, animal comfort management, behavior monitoring & control, and others (calf management, genetic management, cattle sorting, weighing, data analysis, decision support, and financial management). By farm size, the Livestock monitoring market is classified into small, mid-sized, and large. The study also forecasts the size of the market based on 4 regions?North America, Europe, APAC, and RoW.
Reasons To Buy the Report
The report would help market leaders/new entrants in the following ways:
- This report segments the Livestock monitoring market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different offerings, farm sizes, livestock types, applications, and regions.
- The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the market growth.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their market position.
- The Competitive Landscape section includes the competitive analysis of top players, as well as strategies such as product launches and developments, acquisitions, collaborations, agreements, partnerships, and expansions adopted by major market players.