A recent report published by
Infinium Global Research on the livestock monitoring solutions market provides
in-depth analysis of segments and sub-segments in the global as well as
regional livestock monitoring solutions market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
livestock monitoring solutions market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of the global livestock monitoring solutions market. According to the
report, the global livestock monitoring solutions market is projected to grow
at a CAGR of 13.9% over the forecast period of 2021-2027.
The global livestock monitoring
solutions market was sized from USD 3836.71 million in 2021 to about USD 8395.20 million in 2027. The global livestock
monitoring solutions market is projected to grow with a CAGR of 13.94% during
2021-2027. The solution primarily used to monitor all transactions
related to the animals and products including milk and milk products is known as
Livestock monitoring. The process involves monitoring all kinds of diseases
related to the animals, milk and meat consumption, and medicinal cost associated
with the animals and is considered a smart farming method. Furthermore, the
issues that are critical in preventing the loss associated with livestock
can be detected by the livestock monitoring process. However, the farmers are
incurring huge losses on the account of animal illness, hence there is a need
for IoT enabled livestock management which is expected to increase in the
upcoming future livestock and farmer. Therefore livestock monitoring solutions
become an essential method for farmers since it improves the overall profit
related to the management of the livestock.
The prime factors which drive
the growth of the livestock monitoring solutions market are the growing demand for livestock monitoring solutions, which can be attributed to the increasing
profits concern among the farmers and the large population of the livestock, which
can be easily managed with the help of the livestock monitoring solutions.
Furthermore, the increasing number of sheep across the globe, growing technological
development such as IoT and cloud, increasing penetration of the IoT enabled
services, increasing application of the cloud based software, and rising need
for livestock disease detection are some other factors that are propelling
market’s growth. However, the incapability of farmers towards huge capital
investment and Limited skillsets and technology understanding among farmers are
the two major factors that are hampering the market’s growth. On the other hand, the Rise in the number of dairy farms & cattle population and the cost-saving
associated with livestock monitoring management are expected to provide
lucrative opportunities to the market.
Based on the region, the livestock
monitoring solutions market is segmented into North America, Europe, Asia
Pacific, and the rest of the world. North America is expected to be the leading
region for the overall livestock monitoring solutions market owing to
increasing innovation in the field of livestock management solutions.
Furthermore, there is a rising demand for the reduction of the overall cost
associated with cattle rearing in the region, which is anticipated to boost
the growth of the overall market during the forecast period. However,
Asia-Pacific is expected to witness robust growth in the livestock monitoring
solutions market due to the increasing number of cattle and buffaloes in the
region. For instance, India has the highest number of cattle and buffaloes which
accounted for 298 million in 2016.
The report on the global livestock
monitoring solutions market covers segments such as offering, farm type,
livestock type, and application. On the basis of offering, the sub-markets
include hardware, software, and services. On the basis of farm type, the
sub-markets include small, med-sized, and large. On the basis of livestock
type, the sub-markets include large, large, swine, equine, and others. On the
basis of application, the sub-markets include milk harvesting management,
breeding management, feeding management, heat stress management, animal comfort
management, behavior monitoring & control, and others.
The report provides profiles of
the companies in the market such as GEA Group AG,, Afimilk Ltd., Sensaphone,
Rugged Networks Limited., BouMatic LLC., Communications Group Lethbridge Ltd.,
Lely Holding S.À.R.L, SCR Dairy, Inc., DairyMaster, and Valley Agriculture
Software.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the livestock monitoring solutions market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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