PUBLISHER: Grand View Research | PRODUCT CODE: 1587423
PUBLISHER: Grand View Research | PRODUCT CODE: 1587423
The global cattle management software market size is expected to reach USD 3.53 billion by 2030, registering a CAGR of 10.96% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the increasing demand for beef and dairy products, increasing focus on sustainable farming, and technological advancements. As per 2020 to 2029 estimates by OECD-FAO, approximately 81% of global milk production consists of cow milk. India and Pakistan are expected to contribute to more than 30% of the global milk production by 2029.
Furthermore, the OECD predicts increasing milk and fresh dairy product consumption (e.g., butter & cheese) worldwide from 2022 to 2031. With the increasing human population across the globe, the production & consumption of animal protein, such as milk, dairy products, and beef, is expected to grow. The growing demand is estimated to pressure cattle farmers to produce more food, thus propelling the need for technologies that support efficient food production, such as cattle management systems.
The COVID-19 pandemic led to market volatility, affecting the cattle industry negatively. This influenced software solution companies to introduce software that tracks market data and provides insights to cattle farmers, which would help them make informed decisions about the purchase, sale, or trade of cattle. As precision farming and data-driven decision-making gain importance, the adoption of cattle software has increased. Preference for technology among farmers to collect and analyze data on animal health, nutrition, and productivity to optimize their operations has grown sharply. With lockdowns and social distancing measures in place, there was a surge in e-commerce platforms for purchasing livestock, including cattle. This prompted the development of software solutions to support online cattle auctions and sales.
Technological advancements are a significant driver in the market for cattle management software. These advancements encompass various technologies that have transformed how cattle farming is conducted. They enable farmers to improve productivity, optimize resource usage, and enhance overall herd management. The development of advanced technologies such as the Internet of Things (IoT), Radio-Frequency Identification (RFID), GPS, and remote sensing has made it easier to collect & transmit data from cattle in real-time. This technological progress has opened up new possibilities for cattle management software.
Furthermore, mobile apps are often part of cattle management software solutions. These apps provide farmers with easy-to-use interfaces for data entry, monitoring, and decision-making. They improve accessibility and convenience for users. In October 2022, Merck launched several technological enhancements and the Allflex DataFlow II System mobile app for dairy producers and operators, thus enhancing its offerings. Upgrades to its Allflex cow monitoring technologies included low battery alert for the Allflex Flex V2, built-in training with new SenseHub Discovery, and SenseHub Dairy custom report generator.