Livestock Monitoring Market is Expected to Grow with a CAGR 10.7% During 2022-2028

Livestock Monitoring
  • Livestock Monitoring Market

As stated in our extensive report; providing insights on Offering, Livestock Type, Application, and Region; the Global Livestock MonitoringMarket accounted for USD 1,329.1 Million in 2021.

Increasing focus on real-time monitoring and early disease detection in addition to rising demand for meat worldwide in addition cost-saving achieved through the adoption of Livestock Monitoring solutions are the driving factors for Livestock Monitoring Market. Additionally, growing awareness about the meat quality and growing adoption of IoT and AI for Livestock Monitoring along with increasing population across the globe is further propelling the market growth over the forecast period.

Nowadays, overall meat consumption across the globe is increasing. This is owing to the mounting population and increasing awareness regarding the health benefits of meat and eggs and other animal products. Additionally, increasing demand for meat is ultimately increasing the need for better optimization of feed for better nutrition and production, for animal farming such as swine, poultry, ruminant, aquaculture, and other animals. For instance, The U.S. Census data and Simmons National Consumer Survey (NHCS) found that 268 million Americans ate bacon in 2020, with over 16 million eating five pounds of bacon or more during the year. The data shows that Americans eat an annual 66.18 pounds of pork per capita. Thus, the adoption of Livestock Monitoring solutions for monitoring reduces the cost which provides a special profit to the person. Thus, increasing the demand, ultimately, driving the Livestock Monitoring Market growth over the forecast period.

Moreover, the increasing consumption of fast foods is increasing the demand for animal-based products at its extreme level. Thus, to grasp the opportunity and reduce the supply and demand gap, Livestock Monitoring solutions are the ideal choice owing to their several benefits. Thus, increasing the adoption, in turn, further propelling the market growth over the forecast period.

North Americais expected to emerge as a potential market for Livestock Monitoring Market. This is owing to progressive technological developments, coupled with high meat consumption in this region. However, Asia Pacific is expected to witness lucrative growth over the forecast period. This is due to the presence of developing countries with growing economies.

Some of key players in the Global Livestock Monitoring Market include, Allflex Livestock Intelligence (Subsidiary of MSD Animal Health) (US), DeLaval (Sweden), Afimilk Ltd. (Israel), Nedap N.V. (Netherlands), BouMatic (US), ENGS Systems (Israel), CowManager B.V. (Netherlands), Dairymaster (Ireland), HerdInsights (Subsidiary of Datamars) (Ireland), Zoetis (US) and others.