Global Livestock Monitoring Market Research 2024, Forecast To 2033
25 Sep, 2024
The livestock monitoring market is experiencing rapid growth, expected to increase from $3.09 billion in 2023 to $3.56 billion in 2024, at a CAGR of 15.2%. This growth is supported by the adoption of precision livestock farming and consumer demand for quality. By 2028, the market is projected to reach $6.23 billion, with a CAGR of 15.0%. Key trends include the integration of IoT and GPS technologies for enhanced management and monitoring.
Major Driver In The Livestock Monitoring Market
The significant focus on early disease detection and real-time monitoring in livestock is expected to drive the growth of the livestock monitoring market. Early disease detection and real-time monitoring are essential for providing proper care to animals and maintaining their overall health. Utilizing sensor technologies for real-time tracking and monitoring allows prompt identification and rectification of issues in livestock. Eurostat reported substantial livestock numbers in the EU, with 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats in December 2021. This growing emphasis on real-time monitoring and early disease detection is poised to propel the growth of the livestock monitoring market in 2023, 2024, and 2028.
Request A Free Sample Of The Global Livestock Monitoring Market ReportLivestock Monitoring Market Competitive Landscape
Cargill Incorporated, ENGS Systems Inc., Zoetis Inc., Intervet Inc., GEA Farm Technologies GmbH, Afimilk Ltd., HID Global Corporation, VDL AgroTech B.V., Antelliq Corporation, Lely Holding B.V., Nedap N.V., Boumatic LLC, Dairymaster USA Inc., CowManager B.V., Sensaphone Inc., BovControl B.V., Allflex Livestock Intelligence Ltd., Cainthus Ltd., DeLaval Inc., Fancom B.V., Fullwood Packo Ltd., HerdInsights (Subsidiary of Datamars AG), Livestock Monitoring Systems Pty Ltd., Pure Cultures BV, Quantified AG, Rex Animal Health Inc., SmartShepherd Ltd., Communications Group Lethbridge Ltd., Connecterra, Hokofarm-Group BV
Key Livestock Monitoring Market Trend
Major companies operating in the livestock monitoring market are developing innovative farm management systems to gain a competitive edge in the market. Farm management systems refer to integrated software solutions and technologies designed to streamline and optimize various agricultural processes and activities on a farm. For instance, in March 2021, GEA Group AG, a Germany-based technology company, launched a new herd and farm management system that leverages data collection and analysis to enhance efficiency, flexibility, and animal welfare for dairy farmers. DairyNet integrates crop management, cattle rearing, milking, and animal health and provides a web-based option with basic functionalities for greater transparency. The software's versatility and user-friendly interface were well-received, showcasing the growing demand for integrated solutions in the agriculture sector. DairyNet initially supports the GEA DairyRobot R9500, with integration planned for the DairyProQ automated rotary milking parlor and conventional milking systems in the future.
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Livestock Monitoring Market Segmentation
The livestock monitoring market covered in this report is segmented –
1) By Livestock Type: Cattle, Poultry, Swine, Equine, Other Livestocks
2) By Offering: Hardware, Software, Services
3) By Application: Milk Harvesting Management, Heat Detection Monitoring, Feeding Management, Heat Stress Management, Health Monitoring Management, Sorting And Weighing Management
By Geography:The regions covered in the livestock monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the livestock monitoring market in 2023.
The Livestock Monitoring Global Market Report 2024 furnishes information about the global livestock monitoring market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.