What Is The Current and Historic Market Size Analysis Of Livestock Monitoring Market?
The livestock monitoring market has seen considerable growth due to a variety of factors.
• The market size for livestock monitoring has experienced significant growth in the past few years. It is projected to expand from a size of $3.48 billion in 2024 to an estimated $3.97 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 14.0%.
The historic period's growth is largely due to factors such as the adoption of precision livestock farming, effective disease prevention and management, improvements in productivity and efficiency, government initiatives aimed at improving livestock wellbeing, and increased consumer demand for quality.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Livestock Monitoring Market?
The livestock monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions for the livestock monitoring market indicate a swift expansion in the upcoming years, with a market size potentially reaching $7.3 billion by 2029. This forecasted growth, at a compound annual growth rate (CAGR) of 16.4%, is largely due to factors such as environmental sustainability, initiatives in intelligent farming, animal identification and traceability, livestock species-specific customization, and integration with farm management systems. Key trends expected to shape the growth of this market during the forecast period include the incorporation of Internet of things (IoT), the use of GPS tracking for better grazing management, automatic health surveillance systems, data analytics for foresighted insights, and the application of non-invasive monitoring technologies.
What Are the Critical Driver Fuelling the Livestock Monitoring Market's Growth?
The rising emphasis on the early identification and real-time tracking of diseases in livestock is anticipated to significantly boost the livestock monitoring market. The priority placed on real-time tracking and swift disease recognition is essential for the provision of adequate animal care and support in ensuring their wellbeing. Sensor technologies aid in real-time observation and tracking, helping identify any livestock problems promptly for rectification. For instance, in November 2023, an innovative project backed by a £700,000 Innovate UK grant was reported by the UK Centre for Ecology & Hydrology, a research organization in the UK. The project aims to develop automated, real-time tracking for a cattle disease costing the UK agriculture sector £80 million per year. This initiative is part of the Farming Futures Automation and Robotics competition within Defra’s £270 million Farming Innovation Programme. Therefore, the heightened focus on real-time tracking and early disease identification is set to spur the growth of the livestock monitoring market.
What Are The Key Segments Within The Global Livestock Monitoring Market?
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
Subsegments:
1) By Cattle: Beef Cattle, Dairy Cattle, Dual-Purpose Cattle
2) By Poultry: Broilers, Layers, Turkeys, Ducks, Other Poultry
3) By Swine: market Hogs, Breeding Stock, Weaners
4) By Equine: Horses, Donkeys, Mules
5) By Other Livestocks: Sheep, Goats, Rabbits, Fish (Aquaculture), Other Specialty Livestock
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How Are New Trends Impacting The Size Of The Livestock Monitoring Market?
Major players in the livestock monitoring market are creating inventive farm management systems to remain competitive. These systems are integrated solutions and technologies constructed to enhance and streamline a multitude of processes and operations within agriculture. For example, in July 2023, SK Telecom Co. Ltd., a company specializing in technology based in South Korea, introduced a novel livestock monitoring system named Live Care. This move is designed to upgrade the handling and well-being of livestock utilizing cutting-edge technology, with a focus on meeting the escalating requirements of the agricultural industry. Live Care makes use of IoT devices to supply instant data concerning livestock health and conduct. This allows the farmers to keep a check on their animals seamlessly and to react swiftly to any health deteriorations or behavioral alterations.
Who Are the Key Players in the Livestock Monitoring Market?
Major companies operating in the livestock monitoring market include:
• Cargill Incorporated
• GEA Farm Technologies GmbH
• Afimilk Ltd.
• 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.
• Quantified AG
• Rex Animal Health Inc.
• SmartShepherd Ltd.
• Connecterra
• Hokofarm-Group BV
What are the Regional Insights into the Livestock Monitoring Market?
North America was the largest region in the livestock monitoring market in 2024. The regions covered in the livestock monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
