Global livestock monitoring market was valued at USD 4.07 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 16.56%) between 2021 and 2028. This market growth can be attributed to an increase in cattle population and the increasing adoption of livestock monitoring technology. These monitoring systems are becoming more popular due to the significant cost savings associated with livestock monitoring management. As of November 2020, millions were affected by the COVID-19 epidemic caused by SARS-CoV-2. Contagious coronavirus has also had an economic impact on many sectors, including the livestock health industry. Social distancing and national lockdown have delayed or suspended veterinary visits. This is expected to increase demand for livestock monitoring.
The market is being driven by the increasing demand for animal products such as eggs, milk and meat. Asia accounted for around 40% to 45% global meat production. The U.S., Brazil and Australia are also major producers. According to the Australian Bureau of Agriculture and Resources Economics and Sciences (ABARES), China will account for around 40% of the rise in meat demand by 2050. These factors increase the demand for livestock monitoring equipment.
There is also a lot of competition among key players. This has made it important to prioritize R&D and innovation within the existing product portfolio. To maintain their competitive edge, these companies have adopted a variety of strategies. CowManager, for instance, invented active ear sensor technology in May 2020. CowManager is constantly expanding to help dairymen who need new solutions or insights in addressing their challenges. These initiatives are expected to boost growth.
The market is also growing due to the increasing prevalence of zoonotic disease. These disease outbreaks can pose major socioeconomic risks, leading to production losses and disruption of local markets, rural economies, and international trade. Viruses and bacteria can also infect livestock. These factors will likely increase the need for livestock monitoring in coming years.
In 2020, the cattle livestock monitoring systems had the highest revenue share at 45.0%. This is due to the benefits associated with their use. This segment is driven by a significant increase in beef consumption. Diverse public and private organizations monitor beef and dairy products to ensure their safety and prevent disease transmission. These factors are increasing the use of livestock monitoring systems.
The fastest expected CAGR for the poultry segment will be during the forecast period. This is due to the high consumption of poultry products daily. Due to the high demand for poultry products, and growing consumer awareness regarding quality products, there has been an increase in demand for animal monitoring and health.
With a revenue share exceeding 39.0%, the hardware segment was the dominant player in the livestock monitoring market in 2020. This is due to farmers' increased use of livestock monitoring devices to improve productivity and manage their livestock. These devices are safe for animals and provide data that can be used to inform farmers about healthy feeding, reproduction, and animal welfare. These factors are what contribute to this segment's dominant share.
This segment will see the most growth during the forecast period. It is a collection of multiple applications that can be used for monitoring livestock. They all share similar user interfaces, functions, features, and features. Software is being used by many companies to simplify the collection of data about livestock. Cainthus, for example, introduced ALUS Nutrition in February 2020. This personalized technology allows producers to monitor feed availability 24 hours a day. This system shows the time of feed and allows for adjustments to feeding plans if needed.
According to the application, the feed management segment accounted for the largest percentage of the market with more than 27.0% in 2020. Feed management is in high demand to control the animal's food intake. This application is also growing because of the increasing awareness among livestock owners about the importance of a proper diet for increasing productivity.
Over the forecast period, the fastest growth is expected in the milk harvesting sector. The implementation of auto milking, and the adoption internet-of-things (IoT) have led to significant cost and labor reductions. These factors will provide growth opportunities for the segment in the future.
North America was the dominant region with a share of more than 31.0% in 2020. This is due to the rapid technological advancements and the increase in internet penetration in this region. This growth can also be attributed the region's increased meat consumption. The U.S. topped the 2018 list of highest meat consumption. This is further promoting the need to combat zoonotic or foodborne diseases that can be transmitted to livestock animals and subsequently fuelling market growth.
Asia Pacific will experience the fastest growth during the forecast period. This is due to the high number of cattle. China and India, for instance, account for more than 30% of global cattle population. The high livestock population has increased the demand for meat production. This will eventually drive the need for livestock monitoring systems.
Research and development activities are key to the production of efficient livestock monitors. DeLaval Inc. purchased milkrite InterPuls from Avon Rubber in July 2020. This acquisition has enriched DeLaval's animal husbandry offerings. Afimilk also granted Bionova Philippines exclusive distribution rights in March 2019 to market its products to Asian countries. This would enable the company to reach a wider market and help it with its growth strategy. The following are some of the most prominent players in global livestock monitoring:
GEA Group Aktiengesellschaft
Afimilk Ltd.
DeLaval Inc.
Sensaphone
Antelliq
BouMatic
Dairymaster Ltd.
Lely
Fancom
Up Market Research published a new report titled “Livestock Monitoring Market research report which is segmented by Animal Type (Poultry, Cattle), by Component (Software, Hardware), By Players/Companies DeLaval Inc, Sensaphone, Fancom, Afimilk Ltd, Dairymaster Ltd, BouMatic, Lely, Antelliq, Fullwood Packo, GEA Group Aktiengesellschaft”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Livestock Monitoring Market Research Report |
By Animal Type | Poultry, Cattle |
By Component | Software, Hardware |
By Companies | DeLaval Inc, Sensaphone, Fancom, Afimilk Ltd, Dairymaster Ltd, BouMatic, Lely, Antelliq, Fullwood Packo, GEA Group Aktiengesellschaft |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 226 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Animal Type (Poultry, Cattle), by Component (Software, Hardware).
Livestock Monitoring Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Livestock Monitoring Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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