The global livestock monitoring market is predicted to grow from USD 1.4 billion by 2021 to USD 2.3 billion in 2026. It is predicted to grow at an annual rate of 10.4 percent between 2021 and 2026.
Livestock monitoring is also known as Livestock management or precision livestock farming. In this farming, IoT enabled devices are used for tracking and monitoring the health of life, most commonly cattle.
Key elements driving this market’s expansion include the monitoring of livestock and disease detection, the increasing use of IoT and AI by dairy farmers, and significant cost savings associated with livestock monitoring and management.
The growing number of cattle, the expansion of dairy farms and the adoption of technology to monitor livestock in the developing world creates an immense demand for monitoring livestock within the COVID-19.
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Market Trend and Dynamics of the Global Livestock Monitoring Market:
Driver: More focus on monitoring of livestock and detection of diseases
Thanks to sensors, farmers are able to detect animal diseases and then take the appropriate action. Utilizing sensing and management techniques reduces costs associated with the monitoring of livestock.
Implementation of smart technology for livestock farming aids in the collection of real-time data regarding the health of animals and general behaviour. This includes their eating habits, the quality of their food and water and hygiene levels, biosecurity and more. Livestock owners can also monitor and monitor the movements of their animals. Furthermore, connected technology aids in increasing the production of dairy without releasing harmful gases like methane while making sure that livestock is healthy.
Restrictions: Lack of skill sets and a lack of understanding of technology among farmers
These solutions for monitoring livestock produce enormous amounts of data that are difficult for a non-professional to comprehend and process. Additionally, a lack of awareness of the accessibility of these techniques among farmers is an important factor that hinders the expansion in the marketplace.
The adoption of technology in animal farms has been comparatively slow due to a variety of reasons, such as the expensive costs involved in the automation of farms, the lack of technical expertise among livestock farmers, and the reluctance to adopt new technology due to their lack of expertise and understanding of technology.
Opportunity: Increase in the number of dairy farms as well as the number of cattle
Dairy farms have experienced an increase in their numbers over the past several years in the world. The growth in the number of dairy cattle is because of the growing demands for milk products around the world. Between 2010 and 2015, there was a huge demand for dairy items like cheese, butter, curd, whey and yogurt grew significantly throughout the globe. As the number of herds of dairy farms grows it becomes increasingly difficult to keep track of the herd on a manual basis.
The growing dairy farms’ herd sizes increases the need for solutions to monitor livestock since they are utilized for monitoring and managing herds of cattle.
Challenge: Stringent rules along with trade obstacles
The United States Department of Agriculture (USDA) has implemented a wide-ranging regulation over the market for monitoring livestock to ensure safety and decrease the spread of disease. Additionally, other restrictions limit supplies of certain commodities and can increase prices.
It is the European Union (EU) uses free trade agreements to regulate the usage of common cheeses by producers in certain EU regions. USDA has been advocating for the introduction of new policies in trade related to dairy farming in countries like China, Japan, and several countries in Latin America and the Middle East.
The Largest market share of livestock monitoring market held by the Hardware component in 2020:
in 2020, the hardware was the biggest share of the livestock monitoring market due to the rising use of hardware like RFID, sensors, and smart cameras, as well as GPS technology in the livestock industry.
The information gathered by these devices inform farmers about the reproductive well being of the animals and healthy feeding. Technology advances in software and the tools that are used in livestock monitoring systems have also accelerated market growth in the past few years.
Control and monitoring of behaviour was the largest portion of the livestock monitoring market in 2020.
The control and behaviour monitoring application are anticipated to continue to contribute to the biggest portion of the livestock monitoring market, mostly due to the rising use of hardware devices like sensors, readers and RFID tags as well as animal RFID active collars to aid in early detection of diseases in livestock, control of herds, and monitoring and identification of animals.
A growing interest among owners in the technology used to monitor livestock, as well as the growing popularity of software applications to monitor animal behaviour and health monitoring, has fueled demand for this kind of application.
The Key Market Segmentation of the Global Livestock Monitoring Market:
Global Livestock Monitoring Market can be divided into Offering, Farm Types, Live-Stock Type, Application and Geographical landscapes, etc.
Livestock Monitoring Market Segmentation By Offering:
- Hardware
- Software
- Services
Livestock Monitoring Market Segmentation By Application:
- Milk Harvesting Management
- Breeding Management
- Feeding Management
- Heat Stress Management
- Animal Comfort Management
- Behaviour Monitoring & Control
- Others (Calf Management, Genetic Management, Cattle Sorting, Weighing, Data Analysis, Decision Support, And Financial Management)
Livestock Monitoring Market Segmentation By Farm Type:
- Small
- Med-sized
- Large
Livestock Monitoring Market Segmentation By Livestock Type:
- Cattle
- Poultry
- Swine
- Equine
- Others (sheep and goat)
Livestock Monitoring Market Segmentation By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- The Middle East and Africa
The Global Livestock Monitoring Market Report Highlights:
The month of August is 2020. Nedap NV (Netherlands) and VAS have been working in a continuous manner for many years. In recent times, Nedap has further strengthened its relationship by improving the connectivity between the VAS Platform and Nedap CowControl. The sophisticated integration allows both parties to support as well as empower farmers of dairy around the globe and help them become more successful and more satisfied in their work lives.
In January 2021, Nedap NV (Netherlands) joined forces with Dairy cooperative Arla Foods (UK) to examine the health of herds. This is determined by the way they are handled in the specific environment and not the production system is used by the farm within the Happy Cow project. This Happy Cow project is being implemented on Arla UK 360 Innovation Farm. Arla UK 360 Innovation Farm is located close to Aylesbury, where The herds use Nedap sensors that are capable of detecting behaviour, activity and the location of animals.
In August of 2020, Merck Animal Health, the part that is part of Merck & Co. (US), announced the conclusion purchase of IdentiGEN Ltd. (Ireland), which is a pioneer in the field of DNA-based traceability solutions for animals that are used in Livestock and Aquaculture, to improve its livestock-related solutions.
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