Livestock Monitoring Market 2024 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

The global market value of the livestock monitoring market was valued at USD 1.4 billion in 2022, and a CAGR of 10.9% is expected during the forecast period. Increasing emphasis on early disease detection and the growing adoption of IoT and AI for livestock monitoring are driving the growth of the market significantly. Increasing demand for meat in the market is significantly growing, and increasing demand for real-time tracking of animal behavior, health, and productivity are the key factors driving growth in the market.

The rising adoption of precision livestock farming practices is driving growth in the market significantly. Concerns about food safety and animal welfare are the key factors driving significant growth in the market. Regulatory requirements regarding food safety and traceability are driving growth in the market significantly. Innovations in sensor technology and data analytics are driving significant growth in the market.

Growth Drivers

Increasing demand for early detection of diseases, real-time tracking of animal behavior, and rising adoption of precision livestock farming practices are also driving significant growth in the market. Concerns about food safety and animal welfare are driving significant growth in the market. With continuous growth in technology, the market is expected to witness significant growth in the upcoming years. With the increasing adoption of precision livestock farming practices, there is a growing need for advanced monitoring technologies to optimize livestock management, enhance productivity, and ensure animal welfare.

Consumer demand for safe and high-quality food products is pushing farmers to implement monitoring systems to track the health status of livestock, prevent diseases, and ensure compliance with food safety regulations. Heightened concerns about animal welfare issues are prompting farmers to invest in monitoring and improving the well-being of the stock. The availability of real-time data on animal health and monitoring is the driving factor in market growth. The increasing number of dairies, poultry, and swine farms is driving growth in the market.

Segmentation

By Offering

·         Hardware

·         Software

·         Services

By Livestock Type

·         Cattle

·         Poultry

·         Swine

·         Equine

·         Others

By Application

·         Milk Harvesting Management

·         Heat Detection Monitoring

·         Feeding Management

·         Heat Stress Management

·         Health Monitoring Management

·         Sorting and Weighing Management

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Livestock Monitoring Market by Offering Segmentation

On the basis of the offering segment, the livestock monitoring market is segmented into hardware, software, and services. Hardware includes various monitoring devices such as sensors, GPS trackers, RFID tags, cameras, and other equipment used for collecting data related to livestock behavior, health, and location. Software is the leading segment in the market because software solutions are crucial for processing, visualizing, and analyzing the data collected from hardware devices.

It includes farm management software, a data analytics platform, and mobile application design to provide real-time insights and decision support to livestock managers. Services in the livestock monitoring market encompass installation, maintenance, training, and consulting related to hardware and software solutions. Service providers offer support to farmers in implementing and optimizing monitoring systems to improve livestock management practices and productivity.

Livestock Monitoring Market by type Segmentation

On the basis of type, the livestock monitoring market is segmented into cattle, poultry, swine, equine, and others. Cattle is the leading segment and is expected to dominate the market during the forecast period. Due to growing demand for poultry products, the livestock monitoring market is witnessing significant growth during the forecast period. Poultry farming is very popular worldwide, especially in the Asia-Pacific region, due to increasing urbanization and rising disposable income. The swine and equine segments are also witnessing significant growth, where animals are raised for meat or racing.

In swine segments, key areas of focus include systems that include vital signs, activity levels, and behavior to detect signs of illness or distress in pigs. Technologies for tracking the estrus cycle, monitoring pregnancy, and optimizing breeding programs to improve reproductive efficiency. Solutions for monitoring temperature, humidity, air quality, and other environmental factors to ensure optimal conditions for swine welfare and productivity. Systems for tracking feed consumption, optimizing feeding schedules, and managing nutritional requirements to enhance growth rates and feed efficiency. Increasing demand for poultry farm products is driving growth in the market. RFID tags or GPS devices to track the movement and location of individual pigs.

Regional Outlook

On the basis of the regions, the livestock monitoring market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America leads the market due to factors like advanced technology adoption, robust infrastructure, and a focus on efficiency, and is expected to dominate the market during the forecast period. The focus on efficiency and productivity in the agricultural sector is driving growth in the market. Large agricultural sectors in the North American region are driving significant growth in the market.

Higher disposable income and greater awareness of the benefits of technology in agriculture are driving growth in the market. Stringent regulations regarding livestock welfare and food safety are driving significant growth in the market in the Asia-Pacific region. Increasing emphasis on precision agriculture and rising disposable income in countries like China, India, Japan, and South Korea are leading the market. Europe, including countries like Germany, France, Italy, and Spain, is witnessing moderate growth due to a strong tradition of agriculture and livestock farming, with many countries having large-scale operations. Factors such as varying regulations across countries, cultural differences, and slower adoption of new technologies are driving growth in the market.

Europe is still an important player in the global livestock monitoring market, with ongoing efforts to enhance efficiency, animal welfare, and sustainability in farming practices. Increasing demand for livestock products, technological advancements in monitoring systems, and a rising focus on animal welfare and productivity are driving significant growth in the market. Key players in this market are investing in advanced technology like IoT, RFID, and GPS to enhance monitoring efficiency and data accuracy, thereby improving overall livestock management practices in the region. The presence of key players in North America, Asia Pacific, and Europe is driving growth in the market.

Key Players

·         Boumetic

·         Zoetis

·         Allflex Livestock Intelligence

·         DeLaval

·         Nedap

·         ENGS Systems

·         DairyMasters

·         HerdInsights

·         Afimilk Limited

·         Other Players