Livestock Monitoring Market - Changing Supply and Demand Scenarios By 2030

 

Livestock Monitoring Industry Overview

The global livestock monitoring market size was estimated at USD 4.01 billion in 2023 and is anticipated to grow at a CAGR of 11.56% from 2024 to 2030.

Key factors expected to drive the market include technological advancements, rising support initiatives, increasing focus on preventive livestock monitoring and increasing dairy & meat consumption. The primary driver for this market is the growing technological advancements in the field of livestock monitoring. These advancements are in various forms like hands-free monitoring, automated technologies, penetration of Artificial Intelligence (AI), and implementation of novel technologies including drones, to name a few. For instance, in April 2023, Advantech Co. Ltd. launched a system that uses AI for early monitoring and detection of health complications in livestock. This system uses artificial intelligence (AI) and infrared vision to measure each cow's body temperature.

Gather more insights about the market drivers, restrains and growth of the Livestock Monitoring Market

The system provides access to veterinary professionals and delivers daily scanning of farm animals along with comprehensive findings. It enhances the lives of farmers and their livestock as well as the general food security of their communities, with the potential for future expansion to identify growth, feeding, and environmental conditions.

Furthermore, in February 2024, the Universitat Autònoma de Barcelona (UAB) with funding from the EU, developed a platform called ClearFarm. It monitors a wide range of factors related to the behavior of the animals, their physical and mental health, their impact on the environment, and their productivity through various sensors installed throughout the farms and on the animals. The platform gathers these data and employs an algorithm to provide precise, audience-specific information on animal welfare. On one hand, a website gives farmers access to up-to-date information on the health of the animals, with an emphasis on indicators of danger that can help them anticipate issues and implement solutions. However, customers can also find out about the health background of the animal product that they buy by scanning a QR code on the packaging, for instance, which will take them to a website featuring this data.

The field of cattle management is going to experience a substantial change as a result of such developments. These methods are ground-breaking for safeguarding animals from preventable diseases and are an initial effort towards strengthening animal welfare.

Apart from the growing technological advancements, this market is also driven by the support initiatives taken by various other entities in this industry to enhance the monitoring of livestock animals like cattle, poultry, and pigs. For instance, in April 2024, the Government of Punjab, India partnered with Brazilian experts for curbing diseases in livestock animals. With the help of proper monitoring tools, this initiatives aims to monitor and study occurrence of diseases in livestock and formulate prevention & management plans to prevent possible outbreaks. This partnership will also explore joint development of vaccines & other veterinary medicines.

Furthermore, in January 2024, Astrocast partnered with Digitanimal for development of livestock monitoring solution known as Satellite IoT (SatIoT). The two companies are collaborating jointly to commercialize a tracking device that links to the worldwide satellite network of Astrocast. Farmers will be able to remotely track livestock thanks to the SatIoT-based collar. They will be able to manage their herds and implement remote farming techniques as an outcome. The companies aiming to enable every farmer in the world to track and connect their animals to the cloud.

Browse through Grand View Research's Animal Health Industry Research Reports.

• The global veterinary ventilators market size was estimated at USD 579.7 million in 2023 and is projected to grow at a CAGR of 3.1% from 2024 to 2030.

• The global veterinary wound cleansers market size was estimated at USD 188.32 million in 2023 and is projected to grow at a CAGR of 10.44% from 2024 to 2030.

Key Livestock Monitoring Company Insights

Companies in this industry are actively involved in bringing in novel technologies into the livestock monitoring industry. They are engaged in launching novel and enhanced solutions to disrupt the market by providing better alternatives to the existing products. Industry players are also forming crucial alliances with other players to either develop innovative technologies or enhance their existing products with an aim of dominating in the market.

Key Livestock Monitoring Companies:

·         Afimilk Ltd.

·         DeLaval

·         BouMatic

·         Merck & Co., Inc. (Allflex)

·         Zoetis

·         Lely

·         Moocall

·         GEA Group Aktiengesellschaft

·         Fullwood Packo

·         Dairymaster

·         Fancom BV

·         Nysbys

·         PsiBorg Technologies Pvt. Ltd

·         Boehringer Ingelheim

 Recent Developments

In July 2024, Fancom BV collaborated with OptiFarm for development of a novel livestock management software using AI models. The testing of this product is currently underway in select locations in Netherlands.

In April 2024, BouMatic partnered with Brolis Sensor Technology to develop integrations between technologies of both companies a develop novel products for dairy farming.

In April 2024, Merck launched SENSEHUB Dairy Youngstock, that has activity monitoring capabilities for use in cattle population.

In January 2024, Nikon launched NiLIMO, a platform that utilizes AI for enabling the farmer to monitor their livestock animals for 24 hours and 365 days of the year. The AI used in this system notifies the owner at the time of calving period of the livestock.

In January 2024, Practo India launched Verdant Impact, an animal husbandry platform for livestock that has RFID-based health monitoring and telemedicine features.

In September 2023, John Deere and DeLaval partnered to develop a digital system for farm and herd monitoring of dairy operations.

Order a free sample PDF of the Livestock Monitoring Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

Industry Outlook of Fuel Cell Market 2023 Trends to 2030

  Fuel Cell Industry Overview The global fuel cell market size was estimated at USD 7.35 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 27.1% from 2024 to 2030. Increasing demand for unconventional energy sources is one of the key factors driving the growth. Growing private-public partnerships and reduced environmental impact are expected to propel the demand. Governments across the globe are anticipated to supplement the developments by offering support in different forms, including funding R&D activities and funding suitable financing programs. Building a robust regulatory framework is vital as government enterprises need to provide an environment that is favorable for investment. Gather more insights about the market drivers, restrains and growth of the  Fuel Cell Market Most of the U.S. states, such as California and New York, have set mandates to limit the carbon emissions from commercial and industrial end users in the countr...
Read more

ENT Devices Market Segmentation, Application, Trends, Opportunity & Forecast 2024 To 2030

  ENT Devices Industry Overview The global ENT devices market size was estimated at USD 25.93 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.54% from 2024 to 2030. This growth can be attributed to several factors, such as high prevalence of ENT-related disorders, an increase in the usage of minimally invasive ENT procedures, and rising geriatric population. Technological advancements also play a crucial role in driving the market growth. The demand for advanced ENT devices, like robot-assisted endoscopes, is more in developed countries such as the U.S. while it is less in developing countries due to their high cost. The ENT devices market penetration is anticipated to grow significantly due to increasing healthcare spending by other governments and a rise in per capita income. Sales are expected to increase rapidly in developing economies due to high occurrences of ENT diseases such as hearing loss and sinusitis. Additionally, there is an i...
Read more

Smart Ticketing 2023 Industry Size, Demands, Growth and Top Key Players Analysis Report

  Smart Ticketing Industry Overview The global smart ticketing market size was valued at USD 10.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.5% from 2023 to 2030. The primary factor leading to the growth in adopting smart ticketing solutions is the increasing incorporation of emerging technologies. The introduction of innovative means for purchasing and paying for tickets, such as contactless payment systems, virtual tickets (E-tickets), and smart cards, enables smooth and efficient transit. In addition, the availability of multi-modal disbursement channels through online ticketing systems, smartphones, E-kiosks, and smart ticketing machines is supplementing effective crowd management and making smart ticketing systems preferable over traditional paper-based ticketing systems. Gather more insights about the market drivers, restrains and growth of the Smart Ticketing Market Moreover, changing customer preferences for digital channe...
Read more