|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Livestock Monitoring market is projected to witness a CAGR of 12.67% during the forecast period (2022 - 2027).
COVID-19 has majorly impacted the livestock industry as well as the production industries. The restrictions imposed by the government to control the spread of COVID-19 among the nation have had a significant impact on the livestock industry, interrupting the supply chain for animal feed, lowering animal husbandry services, and limiting animal health services including delays in illness detection and treatment. For instance, According to the National Center for Biotechnology Center, 2020, with the incidence of COVID-19, the dairy industry in India has suffered significantly due to the reduced overall demand of about 25-30% in the country, at least during the first one month after the lockdown, that is, since March 25, 2020. In addition, to control the spread of coronavirus, the government has sealed the borders to restrict vehicle mobility which further hampered the transfer of milk to customers in the border regions.
The market's expansion can be ascribed to an increase in the cow population, increased incidences of zoonotic diseases, as well as the increasing adoption of livestock monitoring technologies, as there is substantial cost-saving associated with livestock monitoring management. The livestock population has been increasing over the past few decades globally. For instance, India, Brazil, and China accounted for over 65% of the global cattle inventory in 2021. In addition, animal monitoring devices have become more common in industrialized nations, allowing for real-time monitoring of livestock. Some of the primary drivers driving market expansion include a growing focus on real-time monitoring and early illness diagnosis, expanding usage of IoT and AI for livestock monitoring, and rising worldwide demand for meat. For instance, In October 2021, Allflex Livestock Intelligence launched an enhanced version of its intelligent SenseHub monitoring ear tag, which will have a multi-function LED to aid in the detection of individual animals in a group environment. It keeps track of delicate fertility and rumination behavioral patterns in dairy and beef cattle of all ages to determine whether they are in heat or require additional care or treatment.
Furthermore, fierce competition among market participants, with a strong focus on product lines and innovations, is influencing the future of livestock management. For instance, in March 2020, the United States-based CattleEye introduced an AI-backed livestock management platform. Users with this platform would be able to identify cows and living conditions of their health, feed, and environment to improve productivity.
- However, the high cost of livestock monitoring solutions, as well as a lack of skills and knowledge of technology among farmers, are likely to stifle market expansion.
Scope of the Report
As per the scope of the report, livestock monitoring is the process of collection of data to serve the purpose of alerting the farmers to observe the live condition of the livestock environment. This type of monitoring system keeps track of the animal's healthy nutrition, reproduction, and overall well-being in real-time. The Global Livestock Monitoring Market is segmented by animal type (Cattle, Poultry, Equine, and Others), Component (Hardware, Software, and Services), application (Feeding Management, Milk Harvesting, Breeding Management, and Others), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.
|By Livestock Type|
|Services and Software|
Key Market Trends
Poultry Segment Expects to Drive the Market Growth
The increased daily consumption of poultry products is a crucial factor driving this segment's growth. According to Statista, 2021, The global consumption of meat has doubled, reaching 324 million metric tons in 2020. According to the data published by the Organization for Economic Cooperation and Development, in 2021, poultry meat will remain the key driver of meat production growth, albeit at a slower rate than in the previous decade. In addition, it is estimated that 371,675 kt of meat consumed by 2030, worldwide.
- The increased demand for animal health and monitoring is due to the strong demand for poultry products and growing customer awareness of quality products. According to the United States Census Bureau, the population of the United States is expected to grow from 319 million in 2014 to 417 million in 2060. The demand for poultry products is likely to rise even more as the population grows.
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North America is Expected to Have the Significant Market Share
North America is expected to have a significant share of the market in the forecast period. This is due to the high technological developments and increased consumption of poultry products. According to the data published by Organization for Economic Cooperation and Development, in 2021, it has been estimated that 48,602 kt cwe meat will be consumed by 2030 in North America, accounting for 44,949 kt cwe in the United States and 3,653 cwe in Canada. According to the Food and Agriculture Organization of the United Nations (UNFAO), the United States is the largest producer of chicken meat in the world, estimated to produce 20.4 million metric tons of broiler meat in 2021. In addition, the prevalence of zoonotic diseases has fueled the demand for technology to monitor sick animals, which is anticipated to drive the North American market.
- Moreover, the companies providing cattle care training to the caretakers and government support are boosting the growth of the market in this region. For instance, Merck Animal Health's Cattle Care365 provides training for beef cattle caretakers who want to keep their livestock safe, productive, and healthy.
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The global livestock monitoring market is moderately competitive with the presence of many players. As a result, players focus on developing advanced monitoring systems and sensors, cost reduction, and innovation to ensure sustainability. Some of the major players are Allflex Livestock Intelligence, Afimilk Ltd., DeLaval, GEA Farm Technologies, and BouMatic.
In March 2022, KCB Foundation launched a livestock monitoring system in Taita-Taveta to help farmers ensure their livestock meets the required animal health.
In March 2022, Allflex Livestock Intelligence announced a subscription-based version of its SenseHub beef and dairy cow monitoring solutions. It enables the farmers to use the SenseHub system without any upfront costs by paying a monthly fee for access to the essential equipment, installation, tags, and applications. It also allows users to modify or add to their system as their requirements change.
In February 2022, Semtech Corporation collaborated with Smart Paddock, an Australian firm that creates smart tags for the livestock industry that supply producers with real-time data. The partnership will see Semtech's LoRa devices and the LoRaWAN standard integrated Into Smart paddock's "Bluebell" smart global positioning system (GPS) ear tag to track livestock location in real-time and analyze behavioral data to solve real-world livestock management concerns.
In March 2021, GEA launched DairyNet, which is a new herd and farm management solution. It would be accessible for use with the GEA DairyRobot R9500.
- In February 2021, MSD Animal Health announced the acquisition of PrognostiX Poultry Limited, a provider of health and environmental monitoring solutions for the poultry business, which expanded its product portfolio.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Major Animal Diseases
4.2.2 Increasing Focus on Real-time Monitoring and Early Disease Detection
4.3 Market Restraints
4.3.1 High Cost of Livestock Monitoring Solutions
4.3.2 Lack of Understanding of Technology Among Farmers
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Livestock Type
5.2 By Component
5.2.2 Services and Software
5.3 By Application
5.3.1 Milk Harvesting
5.3.2 Breeding Management
5.3.3 Feeding Managemnet
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Allflex Livestock Intelligence
6.1.2 Lely International NV
6.1.3 GEA Farm Technologies
6.1.4 Afimilk Ltd.
6.1.6 Dairymaster Ltd.
6.1.7 Communications Group Lethbridge Ltd.
6.1.8 Antelliq Corporation
6.1.9 HID Global Corporation
6.1.10 Hokofarm-Group BV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Livestock Monitoring Market market is studied from 2019 - 2027.
What is the growth rate of Global Livestock Monitoring Market?
The Global Livestock Monitoring Market is growing at a CAGR of 12.67% over the next 5 years.
Which region has highest growth rate in Global Livestock Monitoring Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Livestock Monitoring Market?
North America holds highest share in 2021.
Who are the key players in Global Livestock Monitoring Market?
Allflex Livestock Intelligence , GEA Farm Technologies, Afimilk Ltd., DeLaval, BouMatic are the major companies operating in Global Livestock Monitoring Market.