Livestock Monitoring Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

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INTRODUCTION

There have been a lot of animal illness outbreaks in recent years, thus there's been a lot of demand for animal monitoring systems. As a result, farmers are able to treat and control the spread of fatal illnesses more quickly. Market participants have had a beneficial impact on the upgrading of their tracking systems so that cattle may be reliably tracked and identified. Furthermore, government-led animal traceability activities are projected to play a key role in the adoption of effective hardware solutions including neck/collar tags, RFID tags, and injectable tags, among others. In the future years, the market would see significant growth due to the growing population of cattle and the acceptance of cow monitoring technology in emerging nations.

The livestock industry is predicted to be hindered in the short term as a result of COVID-19's spread. The newly discovered COVID-19 disease wreaked havoc on animal goods all across the world, particularly meat and dairy. As a result, investments in animal monitoring solutions have decreased. Furthermore, closures in many nations across the worldwide hotel and catering industry resulted in lower demand for meat and dairy products, negatively impacting the global market. In the long run, the worldwide market is predicted to increase steadily. Animal tracking and health monitoring are being actively pursued by governments and global food organizations. For example, starting January 2022, the United States Department of Agriculture (USDA) will not allow metal or other ear tags for animal tracing that do not include RFID components. The rising occurrence of major animal disease outbreaks, increased demand for meat and dairy product launches, and interstate cattle import/export laws are all projected to limit market expansion in the coming years.

GROWTH DRIVERS

Farmers can now detect infections in animals at an early stage and take appropriate action thanks to advances in sensor technology. The cost of livestock monitoring can be reduced by using modern sensor technologies. These technologies not only assist farmers in collecting real-time data on animal health and behaviour, such as eating habits, food and water quality, biosecurity, and hygiene levels, but also in properly identifying, monitoring, and tracing the animals. Sensors and smart tags placed to animals offer real-time data to farmers, allowing them to take proactive and corrective actions. Rumination monitoring systems, for example, aid in the prevention of mastitis and ketosis in animals, while heat detection systems allow for the early detection and isolation of diseased animals. The low cost of sensors and smart tags has boosted demand for advanced livestock monitoring systems.

Animal tracing systems have become necessary as a result of government laws and food quality duties. Customers become more aware of their food origins and environmental footprint as the government pushes Sustainable Development Goals. New frameworks for the use of animal tracing solutions are being proposed by governments. As a result, government mandates are encouraging the deployment of livestock monitoring systems all around the world.

The high cost of livestock monitoring technologies is a major impediment to industry growth. Livestock monitoring technologies, such as monitoring and sensing devices and herd management software, entail substantial initial and ongoing expenditures. Farmers must also invest heavily in automation and control devices, distribution wagons, RFID or GPS systems, and robotic equipment, all of which have substantial installation and maintenance costs, making their adoption prohibitive for smaller farmers. Similarly, because the expenditures associated with the use of sophisticated technologies in poultry farming are extremely costly, the adoption of improved poultry automation systems in poultry farms, which are mostly unstructured small or medium-sized farms, can affect poultry farmers' returns. High initial investments, efficient agricultural instruments, and skilled farmers are required for the deployment and uptake of livestock monitoring technologies.

GHG emissions from cattle supply chains are estimated to reach 7.10 gigatonnes per year, accounting for 14.50 percent of all human-induced emissions, according to the UN Food and Agriculture Organization. Growing environmental concerns are predicted to hinder the farming of some species in several places around the world in the future. As a result, market growth is likely to be hampered in the future scenario.

This constraint could have a substantial influence on emerging countries like India, China, and Brazil, where farmers' disposable incomes are insufficient to invest in such modern technologies. However, technological improvements are likely to lower the cost of livestock monitoring and management solutions in the next years, resulting in a growth in demand for advanced livestock monitoring solutions.

LIVESTOCK MONITORING MARKET SEGMENTATION

By Animal Type

·         Cattle

·         Poultry

·         Swine

·         Equine

·         Others

 

By Component

·         Hardware

·         Sensors

·         GPS

·         Others

·         Software

·         On Cloud

·         On Premise

·         Services

·         Integration & Deployment

·         Maintenance & Support

·         Others


By Application

·         Milk Harvesting

·         Breeding Management

·         Feeding Management

·         Animal Health Monitoring & Comfort

·         Heat Stress Management

·         Behavior Monitoring

·         Others


By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

REGIONAL OUTLOOK

Due to significant technological improvements and increased expenditure on implementing agricultural solutions in countries such as Canada and the United States, North America accounted for the largest market share. In recent years, the rate of expansion in animal food and byproduct consumption in North America has accelerated, requiring local meat and dairy product producers to expand their supply lines. Government rules on animal illness traceability are also predicted to have a significant impact on industry growth. As a result, the region's usage of livestock monitoring technologies is likely to increase.

As meat and dairy products have increased tremendously, European countries, primarily France, the United Kingdom, and Italy, are increasing at a significant rate. According to the European Union, the EU meat industry would be supported by increased global demand until 2030, resulting in higher exports of 4.70 million tonnes in 2030, up from 4.350 million tonnes in 2017. As a result, the region's usage of livestock monitoring technologies is likely to increase.

Over the forecast period, Asia Pacific is expected to develop at the fastest CAGR. Most regional livestock monitoring expansion is expected to be driven by government requirements and interstate livestock trading rules. In recent years, milk and beef farmers in the region have developed innovative technology to meet the region's demand for fast-moving animal and dairy products. Asian cattle farmers, such as those in India and Australia, choose innovative technologies to increase animal tracking activities. Population expansion in developing countries such as India, South Korea, and others has put a burden on farmers' ability to be successful and profitable. As a result, advanced solutions for better animal and cattle by product have been introduced.

The livestock monitoring market in the Middle East and Latin America is predicted to develop at a substantial CAGR over the forecast period. The desire for more trustworthy and profitable livestock suppliers is increasing as the population of the region's wealthy countries grows, driving up sales of livestock monitoring technologies.

KEY COMPANIES IN LIVESTOCK MONITORING MARKET

·         GEA Group Aktiengesellschaft

·         HerdX Inc.

·         Afimilk Ltd.

·         Insoft GmbH

·         DeLaval

·         Zee Tags Ltd.

·         Sensaphone

·         ID Tech Solutions Private Limited

·         Intervet Inc., a subsidiary of Merck & Co. Inc.

·         Shearwell Australia

·         BouMatic

·         Quantified AG

·         Dairymaster

·         Y-Tex Corporation

·         Lely

·         Cowmanager B.V.

·         Fancom BV

·         Cainthus

·         Fullwood PackoTriangle Tire

·         Valley Agricultural Software Inc.

·         Other Players

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