PUBLISHER: The Business Research Company | PRODUCT CODE: 1436441
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436441
Livestock monitoring refers to a method that uses IoT-enabled sensors to track and monitor the health of animals, most frequently cattle, and is also known as precision livestock farming. The monitoring system for livestock aids in keeping an eye on the wellbeing of the animals. One can keep an eye on the grazing pattern and decide better on things such as the weight of the livestock and when to feed them.
The main types of livestock in the livestock monitoring market are cattle, poultry, swine, equine and others. The cattle livestock monitoring solutions used for monitoring a group of animals including cows, and buffalos. Livestock monitoring uses sensor technology to monitor and ensure the safety of cattle. Livestock monitoring is offered through hardware, software and services and have application in milk harvesting management, heat detection monitoring, feeding management, heat stress management, health monitoring management and sorting and weighing management.
The livestock monitoring market research report is one of a series of new reports from The Business Research Company that provides livestock monitoring market statistics, including livestock monitoring industry global market size, regional shares, competitors with a livestock monitoring market share, detailed livestock monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the livestock monitoring industry. This livestock monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The livestock monitoring market size has grown rapidly in recent years. It will grow from $3.09 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to precision livestock farming adoption, disease prevention and management, productivity and efficiency improvement, government initiatives for livestock welfare, consumer demand for quality.
The livestock monitoring market size is expected to see rapid growth in the next few years. It will grow to $6.23 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to environmental sustainability, smart farming initiatives, animal identification and traceability, customization for livestock species, integration with farm management systems. Major trends in the forecast period include integration of internet of things (iot), gps tracking for grazing management, automated health monitoring systems, data analytics for predictive insights, non-invasive monitoring technologies.
The increasing focus on early disease detection and real-time monitoring in livestock is expected to significantly drive the growth of the livestock monitoring market. The focus on real-time monitoring and early disease detection is crucial for providing proper care for the animals and helping maintain their good health. With sensor technologies that aid in real-time tracking and monitoring, any issues in livestock can be identified so that they can be rectified as early as possible. For instance, in May 2022, Eurostat, a Luxembourg-based European commission, The number of livestock in the EU is significant; in December 2021, there were 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats. Hence, the increasing focus on real-time monitoring and early detection of diseases will propel the growth of the livestock monitoring market.
The increasing livestock population is expected to propel the growth of livestock monitoring market going forward. Livestock population refers to the total number of domesticated animals that are raised and kept by humans for various purposes, including agricultural, economic, and cultural activities. Rise in livestock population leads to a heightened demand for sophisticated monitoring solutions, enabling farmers to efficiently manage larger herds, ensure animal welfare, and address health concerns, driving advancements in the livestock monitoring sector. For instance, in September 2022, according to a report by the Brazilian Institute of Geography and Statistics, a Brazil-based, agency responsible for the official collection of statistical, geographic, cartographic, geodetic, and environmental information, the hog and pig population experienced a 3.2% growth in 2021, reaching a total of 42.25 million animals. Therefore, the increasing livestock population is driving the growth of livestock monitoring market.
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.
Major companies in the livestock monitoring market are leveraging strategic partnerships to offer comprehensive and innovative solutions for efficient livestock management. Strategic partnership refers to a collaborative alliance between two or more entities aimed at achieving mutual growth, leveraging combined strengths, and sharing resources for strategic objectives. For instance, in January 2023, Astrocast, a Switzerland-based satellite communications company, partnered with Digitanimal, a Spain-based livestock farming solutions company, to develop a Satellite IoT (SatIoT) solution aimed at enhancing livestock management. By integrating Astrocast's global satellite network with Digitanimal's smart livestock tracking solutions, the collaboration aims to provide farmers, especially in remote areas with limited terrestrial network connectivity, the ability to remotely track their herds using a cost-effective and low-power SatIoT-based collar. This innovative tracking technology enables farmers to accurately monitor the location and movement patterns of their livestock, fostering Agriculture 4.0 practices and overcoming challenges posed by the digital divide in rural and farming regions worldwide.
In February 2021, Merck Animal Health, a US-based company and an animal health division of Merck & Co Inc., acquired Poultry Sense Limited, for an undisclosed amount. Through this acquisition, Merck Animal Health intends to enhance its portfolio with complementary products and technology to improve animal well-being and outcomes. Poultry Sense Limited is a UK-based company that offers hardware and software technology solutions for bird health and welfare.
Major companies operating in the livestock monitoring market report are 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
North America was the largest region in the livestock monitoring market in 2023. The regions covered in the livestock monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the livestock monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The livestock monitoring market consists of sales of sheep, goat, donkeys, and moles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The market value includes the value of related goods sold by the service provider or included within the service offering.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Livestock Monitoring Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on livestock monitoring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for livestock monitoring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The livestock monitoring market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.