Livestock Monitoring Market Projected to reach $3.7 billion by 2030
The Livestock Monitoring Market is expected to reach USD 3.7 billion by 2030 from USD 1.6 billion in 2022, at a CAGR of 11.0% during the 2022–2030 period.
The rapid growth of the global livestock monitoring market
is attributed to the some of the driving factors such as Increasing focus on
real-time monitoring and early disease detection, growing adoption of IoT and
AI for livestock monitoring, rising demand for meat globally and cost-saving
achieved through the adoption of livestock monitoring solutions.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=72634532
Hardware segment to account for the largest share of the
livestock monitoring market during the forecast period
Growing use of hardware devices such as smart tags, sensors,
camera-based systems, and GPS devices in livestock farms is a major factor
driving the market growth. The other factors contributing to the market growth
of the hardware segment include the increase in average herd size and the
number of livestock farms globally, advancements in sensor technologies, and
the need to achieve cost savings. The growing adoption of livestock monitoring
solutions, especially on large farms, is expected to create a global surge in
demand for hardware components.
Feeding management to register the highest growth in the
livestock monitoring market during the forecast period
Feeding management solutions are used to formulate diet
plans and ensure that the nutrients in the feed match the nutrient requirement
of the herd. Advanced feeding management solutions help in formulating and
updating diets regularly to ensure the supply of adequate nutrients and avoid
overfeeding and fluctuations in milk production. The increasing availability of
liquid and dry feeding systems is an important factor driving the market
growth. Growing demand for dairy and meat products globally and the rising
focus of farmers to improve the milk yield are some of the other factors
boosting the market growth for feeding management systems.
Asia Pacific to register the highest growth in the
livestock monitoring market during the forecast period
Livestock monitoring market in Asia Pacific is expected to
register the highest growth during the forecast period. Rapid population growth
in the emerging economies of the region and the subsequent rise in the demand
for meat and dairy products is exerting pressure on the suppliers of livestock
products to become more efficient and productive, thus pushing the sales of
livestock monitoring solutions upward. The growing adoption of advanced
technologies such as AI and IoT for animal monitoring applications is also
expected to drive market growth in this region. Moreover, growing awareness
among farm owners regarding the benefits of using livestock monitoring
solutions and efficient interpretation of data offered by software platforms
and mobile applications are expected to further boost the demand for livestock
monitoring solutions in the Asia Pacific region.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=72634532
The report profiles key players such as Allflex Livestock
Intelligence (Subsidiary of MSD Animal Health) (US), DeLaval (Sweden), Afimilk
Ltd. (Israel), Nedap N.V. (Netherlands), BouMatic (US), ENGS Systems (Israel),
CowManager B.V. (Netherlands), Dairymaster (Ireland), HerdInsights (Subsidiary
of Datamars) (Ireland), and Zoetis (US).
Comments
Post a Comment