What are the Historical Developments and Current Growth Metrics of the Precision Livestock Farming Market?
The precision livestock farming market has seen considerable growth due to a variety of factors.
• Recently, the market size of precision livestock farming has seen a significant increase. It is projected to expand from $5.04 billion in 2024 to $5.59 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 11.1%.
The rise in the historic period is due to factors such as increased demand for livestock products, growing consciousness about animal health, escalating agriculture labor costs, and environmental worries.
What Is The Projected Growth Of The Precision Livestock Farming Template Market?
The precision livestock farming market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size of precision livestock farming is predicted to experience robust growth. It's projected to increase from its current size to a value of $7.93 billion in 2029 with a compound annual growth rate (CAGR) of 9.1%.
This anticipated growth could be linked to the shift towards data-based decision-making, the emergence of precision feeding methods, the expansion of smart farming tools for livestock management, the advent of wearable technology for animal health monitoring, and the growth of precision breeding practices. The forecast period is expected to see increased adoption of Internet of Things (IoT) in agriculture, advancement in sensor tech, the incorporation of artificial intelligence (AI) and machine learning, the initiatives made by the government to update farming methods, and an escalating emphasis on sustainable farming techniques.
What Are The Key Drivers Fueling Growth In The Precision Livestock Farming Market?
The precision livestock farming market's future growth is projected to be driven by the increasing demand for protein and dairy products. These products embody foods enriched with protein and sourced from animals, predominantly milk. The demand is fueled by shifts in dietary choices and a growing sense of health and nutrition consciousness. Precision livestock farming plays a crucial role in protein and dairy manufacturing by maximizing efficiency, promoting animal welfare, advancing feeding management and milk collection, and boosting overall productivity. For example, in February 2022, the United States Department of Agriculture (USDA) reported a surge in domestic consumption of milk fat and skim milk solids in 2022. There was an increase by 0.8 billion pounds for milk fat and 0.9 billion pounds for skim milk solids, in relation to the prior years. Hence, the increasing appetite for protein and dairy products propels the precision livestock farming market.
What Are The Principal Market Segments In The Global Precision Livestock Farming Industry?
The precision livestock farming market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Farm Type: Dairy Farms, Poultry Farms, Swine Farms, Other Farm Types
3) By Technology: Identification And Tracking, Milking Robotic Systems, Poultry Monitoring and Robotic Systems, Precision Feeding Systems, Sensors And Monitoring Devices
4) By Application: Livestock Health And Behavior Monitoring Management, Environmental Monitoring, Feed Management, Milk Harvesting, Sorting, Animal Weighing Data Analysis, And Financial, Waste Management
Subsegments:
1) By Hardware: Livestock Monitoring Devices, Automated Feeding Systems, Environmental Control Systems, Livestock Health Monitoring Tools, Drones for Monitoring Livestock, RFID (Radio Frequency Identification) Tags for Animal Tracking
2) By Software: Animal Tracking and Management Software, Health and Behavior Analytics Software, Farm Management Software (FMS), Data Integration and Visualization Software, Predictive Analytics and Decision Support Software
3) By Services: Data Collection and Analysis Services, Consulting and Advisory Services, Veterinary and Animal Health Services, System Installation and Maintenance Services, Training and Support Services
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What Trends Are Shaping The Precision Livestock Farming Market?
The precision livestock farming market is witnessing the introduction of innovative technologies such as deLaval optimat from major industry players. These advancements aim to enhance animal wellbeing and bolster productivity levels. The deLaval optimat is a system that automates livestock feeding through the integration of sensors, software and robotics to manage feed distribution and inventory. In March 2023, deLaval, a Swedish farm machinery and equipment firm, unveiled the deLaval optimat. This revolutionary autonomous feeding robot forms part of an automated feeding solution, which seeks to streamline the feeding process for livestock farms by automating feed-related activities. The system comprises various elements, including feed stations, feed mixers, and a master control unit, together forming a holistic feeding solution. It offers automatic feed dispersal, feed mixing stations, real-time monitoring, and the incorporation of precision analytics. Furthermore, it takes a comprehensive approach to automated feeding which meets the increasing needs for heightened efficiency, productivity, and sustainability in livestock farming.
Who Are the Key Players In The Precision Livestock Farming Market?
Major companies operating in the precision livestock farming market are:
• Tetra Laval International SA
• Zoetis Inc.
• Lely International Holding B.V.
• Neogen Corporation
• DeLaval International AB
• Nedap N.V.
• Fullwood Paco Ltd.
• BouMatic Inc.
• Waikato Milking Systems Ltd.
• VDL Agrotech B.V.
• Trioliet B.V.
• Dairymaster Inc.
• GEA Farm Technologies GmbH
• Allflex Nederland B.V.
• Fancom B.V.
• Big Dutchman International GmbH
• Connecterra B.V.
• IceRobotics Ltd.
• Moocall LLC
• Afimilk Agricultural Cooperative Ltd.
• Cowlar Inc.
• Farm Control Oy
• HokoFarm-Group GmbH
• Agrispectral Technologies Inc.
• Scana Animal Health AB
What Are The Regional Insights Into The Precision Livestock Farming Market?
Europe was the largest region in the precision livestock farming market in 2024. The regions covered in the precision livestock farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
