The key advantages of livestock monitoring such as
milk harvesting, feeding management, animal health monitoring, and behavior
monitoring are anticipated to drive the market. Furthermore, there is an
increase in the adoption of internet of things (IoT) and artificial
intelligence (AI) by livestock farmers. This is due to an increase in
internet penetration and widespread technological advancement.
There is an increased demand for animal products and
thus several countries are focusing on livestock rearing. This has led to an
increase in the livestock population. In addition, a prevalence of zoonotic
diseases is fueling the growth of the market. This is because these disease
outbreaks in the livestock can be major socioeconomic threats, resulting in
production loss and disruption of local markets, rural economy, and
international trade. Factors like these are expected to encourage the adoption
of livestock monitoring systems among livestock owners.
The COVID-19 pandemic has triggered an unexpected
crisis in the general agricultural processing industries and the processing
of dairy products. The onset of the pandemic has caused tremendous
economic losses to the beef, pork, poultry, and dairy industries worldwide. As
the COVID-19 virus spread across the globe, several industries evaluated its
impact on their businesses. Given the increased demand for goods as consumers
stocked up for possible quarantines or restricted their visits to the grocery
stores, companies faced challenges to cope with the increasing demand and
protect the supply chain. However, with the improving situations, the market is
expected to witness growth in the coming years.
Industry players are involved in strategies including
mergers & acquisitions, collaborative agreements, and geographic expansion
to gain an edge over the competition. For instance, in February 2021, Fancom
announced an enhanced version of the light control for Lumina 38H and 36/38
poultry computers. In another instance, 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.
Related Press Release@ Livestock Monitoring Market Report
Livestock Monitoring
Market Report Highlights
- The cattle animal type segment held the largest share of over 45.0%
in 2020 owing to the rising demand for beef and dairy products
- The software component segment is expected to witness the fastest
growth over the forecast period. This is because the software has promoted
interoperability between different data management systems and ultimately
added value for customers
- The feeding management application segment accounted for the
largest revenue share of more than 27.0% in 2020. This can be attributed to
the high demand for feeding management to monitor the food intake of the
animal
- North America dominated the market with a revenue share of over
31.0% in 2020 due to the presence of well-established companies and
technologically advanced infrastructure
- Asia Pacific is anticipated to witness the fastest growth over the
forecast period owing to the presence of the high potential and rapidly
growing economies, including India, Japan, and China, in this region
List of Key Players of Livestock Monitoring Market
·
DeLaval Inc
·
GEA Group Aktiengesellschaft Ottobock
·
Afimilk Ltd.
·
Sensaphone
·
BouMatic
·
MSD Animal Health
·
Dairymaster
·
Fancom BV
·
Lely
·
Fullwood Packo
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