PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397155
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397155
Livestock Monitoring Market size was valued at USD 1,700 Million in 2022, expanding at a CAGR of 13.4% from 2023 to 2030.
The monitoring of livestock involves the use of technology to supervise and control the well-being, behavior, and welfare of animals in a farm or agricultural setting. Livestock monitoring systems offer valuable insights to farmers, enabling them to improve animal health, optimize resources, and enhance overall farm productivity. The integration of modern technologies continues to drive advancements in agriculture and animal husbandry. Precision livestock farming, also known as livestock monitoring, utilizes IoT-enabled devices to monitor and track the health of livestock, primarily cattle. These devices include GPS trackers, Ultra High Frequency (UHF) RFID Tags, or injectable RFID ampoule tags. Typically, these RFID tags are implanted on the cattle's ear and can be customized with information such as tag data, farm name, and logo. Moreover, recent progress in the use of Nanosatellites and miniaturized transmitters or chips has made it feasible to track and monitor migrating wildlife as well as livestock. The traditional livestock industry is often overlooked and underserved, despite being arguably the most crucial sector. Livestock plays a vital role in providing renewable natural resources that are relied upon daily.
Livestock farming technology has the potential to enhance the productivity capacity, welfare, and management of animals and livestock. The utilization of sensor and data technologies in the livestock industry offers significant advantages. These technologies can effectively improve the productivity and welfare of livestock by identifying sick animals and intelligently identifying areas for enhancement. Currently, only 18 sensors available in the market have undergone external validation, accounting for a mere 14% of the total. Among these, systems based on accelerometers have the highest validation rate, with 30% of the tools having validation records. On the other hand, cameras, load cells, miscellaneous milk sensors, and boluses have lower validation rates of 10%, 8%, 8%, and 7% respectively, as conveyed by Frontiers in Veterinary Science. Moreover, recent advancements in the industry over the past eight to ten years have significantly improved livestock tracking and management, making it more convenient and data-driven. These advancements encompass various technologies such as nutrition, genetics, and digital technology. However, the high cost of Livestock Monitoring systems poses a challenge to the growth of the market.
The Global Livestock Monitoring Market is segmented on the basis of Animal Type, Component, Application, and Region.
The market is divided into four categories based on Animal Type: Cattle, Poultry, Swine, Equine. The market is largely controlled by the cattle segment. There is a significant global demand for beef and dairy products that remains strong. It is of utmost importance to closely monitor the health, reproductive status, and overall well-being of cattle in order to achieve optimal production and fulfill market requirements.
The market is divided into two categories based on Components: Hardware, Software, Services. The market is primarily dominated by the hardware segment. Sensors, which are vital hardware components, are utilized to monitor a range of parameters including temperature, humidity, heart rate, and movement. These sensors play a crucial role in providing essential data for evaluating the health and overall well-being of livestock.
The market is divided into two categories based on Application: Milk Harvesting, Breeding Management, Feeding Management, Animal Health Monitoring and comfort, Heat Stress, Behavior Monitoring, and Others. The market is currently dominated by feeding management. Livestock monitoring systems that prioritize feeding management are essential in preventing problems associated with overfeeding and underfeeding. Overfeeding can cause obesity and other health problems while underfeeding can lead to nutritional deficiencies.
Geographically, this market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be dominated by North America, primarily due to the rising incidence of zoonotic diseases and the increasing regularity of animal food production. To address the prevalence of zoonotic diseases, there is a growing emphasis on implementing advanced monitoring technologies to promptly detect and manage health issues in livestock populations. According to the Center for Disease Control and Prevention, zoonotic diseases are highly common, both in the United States and globally. Scientists estimate that more than 6 out of every 10 known infectious diseases in humans can be transmitted from animals, and 3 out of every 4 new or emerging infectious diseases in humans originate from animals. Additionally, there is an increasing demand for safe and high-quality animal products driven by consumer awareness and stringent regulatory standards. Europe is expected to drive the market during the forecast period, primarily due to the increasing focus on real-time monitoring and early disease detection.
The Livestock Monitoring Market encompasses the utilization of technology and systems to oversee and monitor livestock for various purposes, including health and behavior monitoring, location tracking, and fertility management. This industry is currently undergoing significant changes due to advancements in technology and management practices, evolving consumer demands, and increased global competition. Manufacturers have adopted long-term production and marketing contracts in the livestock and poultry markets to promote vertical coordination, which enables improved production and marketing efficiencies through economies of scale and enhanced control over product differentiation by packers or retailers. The concentration of market power and its impact on competition have attracted increased public attention, leading to various Federal policy initiatives. Competition is particularly prevalent in local and regional markets, particularly in the areas of food retail sales and livestock procurement for meatpackers. Mergers that diminish competition are prohibited under U.S. antitrust laws. It is crucial to explore the integration of technological advancements in Livestock Monitoring solutions. Companies that possess innovative and advanced technologies may enjoy a competitive advantage in the market.
GENEX and Nedap have joined forces to offer dairy farmers a cutting-edge herd management solution. The GENEX HerdMonitor cow monitoring system is the latest addition to their range of innovative services, designed to add value to the businesses of both current and future farming generations. As a trusted provider of world-class animal genetics, GENEX is proud to partner with Nedap, a global leader in dairy herd management technology, to bring this exciting new product to market.