The global livestock monitoring market size is anticipated to value at USD 11.5 Billion by 2027. The growth of the market can be attributed to upsurge in cattle population coupled with the growing adoption of livestock monitoring technology. Furthermore, these monitoring systems are gaining popularity as there is substantial cost-saving associated with livestock monitoring management.
The pig and poultry livestock industry is severely affected by the aftermath of COVID-19 restrictions. Amid the lockdown restrictions, the poultry industry registered decline in the demand in 2020. Also, consumer shift towards vegan diet is likely to contribute to the declining demand. Likely, the shift in consumption pattern in consumers has been the significant factor to boost vegetarianism in the population. On the other hand, the wave of pandemic has severely led to consequences in the retail market. For example, owing to the low demand, several supermarkets prefer seafood products over poultry items.
Livestock Monitoring Market Report Highlights
• The cattle segment is expected to witness a CAGR of more than 15.0% over the forecast period owing to the rising demand for beef and dairy products
• The software segment dominated the market with a revenue share of around 38.1% in 2019. This is because software has promoted interoperability between different data management systems and ultimately added value for customers
• The feeding management segment accounted for the largest revenue share of 27.0% in 2019. This can be attributed to high demand for feeding management to monitor the food intake of the animal
• Due to the presence of well-established companies and technologically advanced infrastructure, North America dominated the market as of 2019 with a revenue share of 31.0%
• However, in Asia Pacific, the market is anticipated to witness the fastest growth rate during the forecast period owing to high potential and rapidly growing markets of India, Japan, China, in this region
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Livestock Monitoring Market Segmentation
Grand View Research has segmented the global livestock monitoring market on the basis of animal type, component, application, and region:
Livestock Monitoring Animal Type Outlook (Revenue, USD Million, 2016 – 2027)
Livestock Monitoring Component Outlook (Revenue, USD Million, 2016 – 2027)
• Integration & development
• Maintenance & Support
Livestock Monitoring Application Outlook (Revenue, USD Million, 2016 – 2027)
• Milk Harvesting
• Breeding Management
• Feeding Management
• Animal Health Monitoring & Comfort
• Heat Stress
• Behavior Monitoring
Livestock Monitoring Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
List of Key Players of Livestock Monitoring Market
• DeLaval Inc.
• GEA Group Aktiengesellschaft
• Afimilk Ltd.
• MSD Animal Health
• Fancom BV
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