Brainy Insights launched a study titled Livestock Monitoring Market Size by Application (Heat Detection Monitoring, Health Monitoring Management, Milk Harvesting Management, Heat Stress Management, Sorting and Weighing Management, and Feeding Management), Offering (Services, Software, and Hardware), Livestock Type (Poultry, Cattle, Equine, Swine, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global livestock monitoring market is expected to grow from USD 3.02 billion in 2021 to USD 9.45 billion by 2030, at a CAGR of 13.51% during the forecast period 2022-2030. The rise in technological advancements with the substantial price savings associated with livestock monitoring management is anticipated to boost demand for livestock monitoring. Moreover, raising investments from various governments, rising labor costs, and increasing the trade policies for the industry also promotes the market’s growth during the forecast period. Further, the increase in focus on new product innovation & development and the significant rise in dairy farms are the supporting factor of the market growth.
The feeding management segment led the market with a market value of around 0.61 billion in 2021.
The application segment of the livestock monitoring market is divided into heat detection monitoring, health monitoring management, milk harvesting management, heat stress management, sorting and weighing management, and feeding management. The feeding management segment led the market with a market value of around 0.61 billion in 2021. This growth is attributed to the rising focus of farmers on enhancing milk yield.
The hardware segment led the market with a market value of around 1.24 billion in 2021.
The offering segment of the livestock monitoring market is divided into services, software, and hardware. The hardware segment led the market with a market value of around 1.24 billion in 2021. This growth is attributed to the increasing interest of hardware manufacturers in livestock monitoring devices.
The cattle segment led the market with a market value of around 0.82 billion in 2021.
The livestock type segment comprises poultry, cattle, equine, swine, and others. The cattle segment led the market with a market value of around 0.82 billion in 2021. This growth is attributed to the significant increase in the consumption of dairy-based products.
Regional Segmentation Analysis:
The market is analyzed based on North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The North American region emerged as the largest global livestock monitoring market, with a market value of around 1.49 billion in 2021. North America currently dominates the livestock monitoring market, and this trend is expected to continue during the forecast period. This growth is attributed to the raised technological developments in livestock monitoring.
The significant market players include Boumatic, Allflex Livestock Intelligence (Subsidiary of MSD Animal Health), Nedap N.V., Delaval, Cowmanager B.V., Afimilk Ltd., Herdinsights (Subsidiary of Datamars), Engs Systems, Smaxtec Animal Care GmbH, Zoetis, Sum-It Computer Systems, Dairymaster, Cainthus, Serket, Vas, Fullwood Packo, Gallagher Group Limited, Moocall, Stellapps Technologies, Connecterra B.V., Hokofarm Group, Icerobotics, Faromatics, Collar, Sensaphone, and among others.
Get Sample PDF Brochure, Click Here