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Global livestock monitoring system market is to grow at a CAGR of 17.9% according to new research report

Global livestock monitoring system market is to grow at a CAGR of 17.9% according to new research report

The Global Livestock Monitoring System Market size was around USD 418.9 million in 2016. It is expected to grow at a CAGR of 17.9% to reach USD 954.29 million by 2021. These days, animals are produced intensively and maintained under proper conditions for growth and production within current technological limits. Large number of animals are restrained within a building or stockyard. Since they are prevented from foraging for their own food, the owner of livestock has to cater to all aspects of their husbandry. Thus, management and monitoring related to environment, reproduction, feeding, marketing, transport, health, growth, and quality becomes the responsibility of the farmer

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. Livestock monitoring systems monitor the entire livestock environment 24/7, and alert the user by text, phone or email if the system alters from a pre-set parameter, for prompt response. In addition, these systems are utilized for monitoring tack rooms, sick animals, and observe animals in the trailer in case of travelling.

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Currently, livestock monitoring systems market is experiencing gradual adoption of integrated monitoring systems, in which information from databases, sensors, and other knowledge bases are combined, interpreted and analysed. Many systems containing few of the elements of an integrated monitoring system are available commercially for cattle, broiler, swine, and milk production.

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Key factors driving the demand for livestock monitoring systems are — increase in size and number of dairy farms, new product launches for livestock management, development of sensors which can gather a wide range of information, and demand for cost savings associated with livestock monitoring & management. Steady growth in sensor technology are making available large amounts of information relevant to monitoring animals and their environment, thereby, their production, health and growth.

Steadily growing demand for the large cattle and poultry, advanced techniques are being used to aid the monitoring and tracking of animals. The utilisation of systems for weighing and identifying animals is already pronounced worldwide, and it is anticipated that systems for tracking animals, monitoring basic health related factors such as body temperature and heart rate, and for assessing body conformation, will witness high acceptance rate in the future.

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Cattle, poultry and other animals require optimal conditions to stay healthy and maximize their yield. Equipment failures such as circulation fans, ventilation systems, heaters and air conditioners can endanger their health and can create problems if not handled promptly.

Numerous costs involved in the production of Livestock Monitoring System are depreciation cost, raw material cost, labour cost, and other costs. These are the primary restraints of market growth.

The secondary restraint for the growth of the livestock monitoring market are the dearth of trained professional. The industry is presently lacking trained professional to cater to rising demand in livestock industry.

As per the United States Department of Labour (USDA), employment of dairy farm workers is estimated to decrease by 6% from 2014 to 2024. Likewise, as per a report of the working group on Animal Husbandry & Dairying, Government of India 2014, only 34,500 veterinarians are employed for field services against the requirement of 67,000.

Livestock monitoring system market is mainly segmented on the basis of offering, application, species and regions. By offering, livestock monitoring system market is segmented into hardware, software and services.

Hardware offering is likely to hold the largest market share during the aforementioned forecast period. By application, livestock monitoring system market is categorised into breeding management, feeding management, milk harvesting management, heat stress management, animal comfort management, behaviour monitoring and control, and other applications.

Feeding management application is projected to grow at the highest rate during the aforementioned forecast period. The high growth of this application is majorly driven by the increasing availability of innovative feeding technologies like liquid feeding systems and dry feeding systems.

By species it is segmented into poultry, swine, cattle, equine and others. Manual management of livestock is time consuming and costly.

Hardware and software solution enables automatic identification and data capture, which aids in accurate and quick tracking and monitoring of livestock. Due to these advantages, market for cattle monitoring is projected to grow significantly during the aforementioned forecast period.

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On the basis of geography the market is classified into North America, Asia Pacific, Latin America, Europe and Middle East and Africa. European market is likely to command the largest market share.

The market in APAC is estimated to grow at a highest rate during the aforementioned forecast period. The European livestock monitoring market is fuelled by various factors such as early adoption of livestock monitoring technologies and technological advancements in this region.

Key market players include Afimilk Ltd. (Israel), BouMatic LLC (U.S.), SCR Dairy, Inc.

(Israel) DeLaval (Sweden), GEA Group AG (Germany), and livestock monitoring software and service providers such as DairyMaster (Ireland), SUM-IT Computer Systems, Ltd. (U.K.), and Valley Agriculture Software (U.S.).

 

Market Segmentation                                                              

 

1)Offering                                       

  • Introduction                           
  • Hardware                
  • RFID Tags & Readers       
  • Sensors 
  • Temperature Sensor
  • Accelerometer Sensor
  • Motion Sensor
  • Environmental Humidity Sensor
  • Others
  • Transmitters & Mounting Equipment      
  • Global Positioning System (GPS)
  • Others   
  • Software                  
  • On-Cloud             
  • On-Premise        
  • Services                    
  • Integration & Deployment           
  • Managed Service              
  • Maintenance & Support
  • Y-o-Y Growth Analysis, By Offering                             
  • Market Attractiveness Analysis, By Offering                           
  • Market Share Analysis, By Offering                             

2)Species                                         

  • Introduction                           
  • Cattle                        
  • Poultry                      
  • Swine                        
  • Equine                      
  • Others                      
  • Y-o-Y Growth Analysis, By Species                                
  • Market Attractiveness Analysis, By Species                              
  • Market Share Analysis, By Species                                

 3) Application                                 

  • Introduction                           
  • Milk Harvesting Management                        
  • Breeding Management                     
  • Feeding Management                       
  • Heat Stress Management                 
  • Animal Comfort Management                        
  • Behavior Monitoring and Control                  
  • Others                      
  • Y-o-Y Growth Analysis, By Application                         
  • Market Attractiveness Analysis, By Application                   
  • Market Share Analysis, By Application   

Report: www.marketdataforecast.com/cart/li…stem-market-3912/

Scope of the report :

  • Global, regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysisin terms by type, packaging and meat type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC)in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analyzing the level of competition and business strategy development
  • A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market

 

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