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Livestock monitoring involves tracking the movement and activities of animals using technologies like electronic identification, sensing, monitoring, and autonomous systems. Farmers deploy livestock monitoring solutions to remotely track livestock feed intake, rumination, health, and breeding cycles. Real-time monitoring enables early disease detection and timely treatment, improving animal welfare. It also allows optimizing feeding strategies based on animal behavior and needs. Livestock monitoring solutions are available as collars, tags, and mounted devices that collect data using sensors and transmit it to central monitoring systems.
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:
The increasing demand for real-time feed and health monitoring of livestock is expected to drive the growth of the global livestock monitoring market over the forecast period. Livestock monitoring solutions provide farmers actionable insights into animal feeding behavior and health issues, enabling corrective actions to maximize productivity. For example, monitoring feed intake helps identify animals off-feed earlier and address the underlying cause. Similarly, activity and rumination monitoring detect stress, estrus, and disease onset in a timely manner. This allows preemptive treatment and control of epidemics among livestock. Further, optimized feeding as per animal needs improves feed efficiency and profit margins for farmers.
Segment Analysis
The livestock monitoring market is dominated by the dairy cattle sub-segment, which holds around 60% of the total market share. This is because dairy cattle require close monitoring to optimize their health and productivity. Sensor-based livestock monitoring solutions help dairy farmers track the cattle activity, rumination, estrus/fertility and prevent health issues in cows.
PEST Analysis
Political: The government policies promoting precision livestock farming and IoT applications in agriculture are boosting the adoption of livestock monitoring systems. Many countries provide subsidies to encourage farmers to use technology.
Economic: High cattle mortality rates and increasing demand for animal-derived food have increased the need for advanced livestock monitoring. However, high initial installation costs could hamper market growth.
Social: Rising awareness about animal welfare and use of technology in agriculture is prompting livestock farmers to widely use monitoring systems to improve productivity and prevent cattle diseases.
Technological: Availability of advanced sensors, RFID, automation tools and cloud computing is facilitating real-time livestock data collection and analysis. Many vendors offer mobile and cloud-based monitoring platforms.
Key players operating in the livestock monitoring market are DeLaval Inc., Fancom BV, GEA Group Aktiengesellschaft, MSD Animal Health, Afimilk Ltd., BouMatic, and Sensaphone. These companies offer innovative monitoring solutions leveraging technologies like AI, IoT and cloud.
Regional analysis: North America dominates the market currently due to advanced dairy farms and growing adoption of monitoring devices by poultry and swine farmers in the region.
Key Takeaways
The global livestock monitoring market is expected to witness high growth at a CAGR of 17% during the forecast period of 2023 to 2030.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
