Wednesday 26 February 2020, Amsterdam
According to the new research report, "Livestock Monitoring Market by Offering (Hardware, Software, and Services), Livestock Type (Cattle, Poultry, Swine, Equine), Application (Milk Harvesting, Feeding, Breeding, Behavior Monitoring & Control), Farm Type, Geography - Global Forecast to 2025" is expected to grow from USD 1.5 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 10.9%. The growing focus on livestock monitoring and disease detection, increasing adoption of IoT and AI by dairy farmers, and substantial cost-saving associated with livestock monitoring management are driving the growth of this market. The growing population of cattle with rising dairy farms and growing adoption of livestock monitoring technology in developing countries provide major opportunities for the growth of the livestock monitoring market.
Software component to witness the highest CAGR during 2020–2025
The livestock monitoring market for software components is broadly classified into on cloud, on-premise, and AI and data analytics. The use of software enables the recording, storage, retrieval, analysis, and dissemination of information about a large number of cattle. These software systems also enable better management of resources and increase the production efficiency of livestock.
Feeding Management expected to exhibit the highest CAGR in the Livestock monitoring market from 2020 to 2025
The Livestock Monitoring market for the feeding management application is expected to grow at the highest CAGR from 2020 to 2025. The feeding management application is expected to continue to dominate the livestock monitoring market, in terms of size and growth rate, during the forecast period. This high growth is predominantly driven by the increasing availability of innovative feeding technologies such as liquid feeding systems and dry feeding systems.
Growing population of dairy farms and population expansion boost demand for livestock monitoring in APAC during the forecast period
The Livestock monitoring market in APAC is expected to grow at the highest CAGR during the forecast period. The population expansion in the region’s developing countries is mounting pressure on the suppliers of livestock products to become more efficient and productive, thus pushing the sales of livestock monitoring solutions upward. The rising penetration of IoT in the animal monitoring application also boosts the growth of this market.
Key players in the livestock monitoring market are GEA Farm Technologies (Germany), DeLaval (Sweden), Afimilk Ltd. (Israel), BouMatic, LLC (US), Antelliq Corporation (France), Dairymaster Ltd. (Ireland), Lely International NV (Netherlands), Fancom BV (Netherlands), Fullwood Packo Ltd. (UK), and Nedap NV (Netherlands). These players are increasingly adopting growth strategies such as product launches and developments, partnerships, collaborations, agreements, and acquisitions to develop and introduce new technologies and products in the market.
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