Livestock monitoring involves constant surveillance of various livestock animals to ensure optimum health and productivity. It involves monitoring different physiological parameters of livestock such as temperature, ruminal pH levels, activity, and ruminating using sensors and other monitoring devices. These technologies help farmers in taking appropriate management decisions that improves animal welfare and productivity. The global livestock monitoring market includes products like milk meters, pedometers, RFID tags, weighing scales, and water trough monitors. Milk meters help in monitoring milk production levels of dairy animals. RFID tags help in tracking and tracing animals. Weighing scales enable monitoring of weight fluctuations. With rising focus on increasing animal productivity and growth in animal agriculture, the livestock monitoring market is expected to flourish.
The global livestock monitoring market is estimated to be valued at US$ 5.2 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growth in Animal Agriculture
Rising demand for animal proteins has led to growth in animal agriculture globally. According to FAO, global meat production increased from 218 million tons in 1998 to around 330 million tons in 2018. This growth in animal agriculture is driving demand for livestock monitoring technologies that helps improve animal health and productivity. Monitoring technologies enables timely diagnosis of diseases and appropriate treatment. This helps reduce mortality rates and increases yield per animal.
Focus on Animal Welfare
With growing awareness about animal welfare, farmers and regulatory authorities are focusing more on implementing technologies that ensure wellbeing of livestock. Livestock monitoring technologies provides real-time health monitoring of animals and enables timely actions if any abnormalities are detected. This focus on animal welfare is expected to fuel adoption of livestock monitoring solutions in the coming years.
Segment Analysis
The livestock monitoring market can be segmented by component, livestock type, application, and region. In terms of component, the hardware sub segment dominates the market. Hardware components such as electronic devices attached to animals that help in monitoring health parameters like temperature, movement etc. account for the largest share as they are basic requirement in monitoring livestock operations.
PEST Analysis
Political: Local government regulations regarding animal welfare and environmental protection promote adoption of livestock monitoring solutions.
Economic: Rising meat consumption driven by population and income growth increases demand for protein. Monitoring helps improve productivity and optimize costs for farmers.
Social: Consumers demand traceability of meat and dairy products towards animal welfare and food quality assurances.
Technological: Advancement in IoT, connectivity and data analytics helps design new automated solutions for real-time monitoring of livestock performance and health.
Key Takeaways
The global livestock monitoring market is expected to witness high growth supported by increasing meat consumption worldwide and stringent regulations regarding animal welfare. The global livestock monitoring market is estimated to be valued at US$ 5.2 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
Regional analysis related content comprises
North America dominates currently led by US and Canada due to presence of large commercial livestock farms and stringent norms regarding animal welfare. Europe is another major region owing to supportive EU regulatory environment and initiatives towards digital agriculture. Asia Pacific is anticipated to witness fastest growth during forecast period led by India and China driven by rising meat consumption, growing middle class population and focus on quality and production efficiency in livestock sector.
Key players related content comprises
Key players operating in the livestock monitoring market are DeLaval Inc., Fancom BV, GEA Group Aktiengesellschaft, MSD Animal Health, Afimilk Ltd., BouMatic, and Sensaphone. DeLaval Inc. is one of the prominent players offering a range solutions for cattle monitoring applications. Fancom BV specializes in solutions for cattle and pig farming activities. MSD Animal Health provides solutions focused on dairy livestock applications.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
