Livestock demand in the developed countries is witnessing a stagnated growth. However, the emerging nations, especially the countries like China, India, Brazil, Argentina, and Indonesia are observing a massive growth in livestock product consumption. This robust growth in the developing regions is largely propelled by the increasing urban population growth and growing disposable incomes which in turn have stimulated the growth in the consumption of animal source foods. As a result of these demographic changes, the global livestock sector has undergone massive structural changes.
With the rapid employment of precision livestock farming solutions, farmers are able to enhance production yield by increasing inputs and efficient management of livestock enterprises. The advent of innovative livestock management systems has resulted in reduced energy consumption and overall cost-effective operations. As a result, the livestock monitoring & management market is expected to progress at a healthy rate due to the ever-growing affinity for more convenient livestock management solutions than the traditional methods.
According to a new market intelligence report by BIS Research, titled ‘Global Livestock Monitoring & …ecast (2017-2021)', the global livestock monitoring & management market is expected to reach $4.84 billion by 2021, growing at a CAGR of 17.8% from 2016 to 2021.
The strong growth is highly attributed to the growing herd size globally driving an imperative need to enhance the livestock productivity by employing efficient monitoring systems to simplify the management of large volumes of animals. Moreover, the increasing concerns over global food security and sustainability have facilitated heavy investments by governments across the world. The global livestock monitoring & management market is strongly motivated by the substantial support of the government in terms of investments, favorable initiatives, and trade policies.
Hardware & systems held approximately 88% of the total livestock monitoring & management market, by product offering in the year 2016. Large-scale deployment of these systems is a result of the increasing need to monitor and manage animals in a constant and fully automated approach. These systems comprise of technologies such as cameras, microphones, sensors, full-range equipment, GPS systems, RFID tags & readers and data management software combined with them. Moreover, cattle sub-sector dominated the global livestock monitoring & management market with the share of approximately 62% in 2016, registering the CAGR of 17.2% between 2016 and 2021. During the forecast period, poultry monitoring & management systems market is anticipated to show the maximum growth among the different types of livestock, owing to the projected increase in poultry meat demand across the world, and rising standards of livestock production.
According to the analyst at BIS research, "Milk harvesting application accounted for the largest share in the global livestock monitoring & management market in 2016. Global market dynamics are shifting towards the commercialization of specialized and automated milk harvesting systems tailor-made for individual dairy operation. However, during the forecast period, animal health monitoring & comfort application segment is projected to exhibit the maximum growth, denoted by a high CAGR of 20.2% from 2016 to 2021. High growth rate is attributed to the increasing demand for animal health and welfare monitoring solutions to avoid loss of livestock due to numerous diseases ensuring optimal yield. These advanced technologies enable farmers to detect health conditions well in time and make decisions based on accurate data."
This market report provides a thorough analysis of the recent trends influencing the global livestock monitoring & management market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including a market breakdown by product offering, animal type, application and different geographical regions. It also includes a separate segment on competitive insights and market insights, wherein, the revenue generated from the livestock monitoring & management is tracked to calculate the market size.
DeLaval, GEA Farm Technologies, Lely, Afimilk Ltd., Allflex Inc., SCR Dairy Inc., Boumatic LLC, and Gallagher Group, among others, are some of the prominent players in the livestock monitoring & management market. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. The market is highly fragmented with the presence of a huge number of small-sized to medium-sized companies that compete with each other and large enterprises.
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Key questions answered in the report:
- What is the size, in terms of value ($million) of livestock monitoring & management market in 2016, and growth rate during the forecast period, 2016-2021?
- What are different product offering types of livestock monitoring & management and developments by respective manufacturers?
- What is the revenue generation of livestock monitoring & management for different animal types in 2016 and their growth prospects?
- What is the market size of different applications types, in terms of value and their respective growth prospects and key developments?
- What is the livestock monitoring & management market size for different regions, on the basis of various product offerings, animal types, and applications?
- What are the key trends and opportunities in the market, pertaining to countries included in different geographical regions?
- How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of livestock monitoring & management?
- What are the major driving forces that tend to increase the demand for livestock monitoring & management during the forecast period?
- What are the major challenges inhibiting the growth of the global livestock monitoring & management market?
- What kind of new strategies is being adopted by existing market players to make a mark in the industry?
- What is the competitive strength of key players in the livestock monitoring & management market by analyzing through market share analysis?
- What are the key market players in the market, along with their detailed analysis & profiles (including company snapshots, their financials, key products & services, and SWOT analysis)?
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