Global Livestock Monitoring Market Share To worth USD 3.7 billion by 2030 | CAGR of 11.0%

The global livestock monitoring market in terms of revenue was estimated to be worth USD 1.6 billion in 2022 and is poised to reach USD 3.7 billion by 2030, growing at a CAGR of 11.0% from 2022 to 2030. The new research study consists of an industry trend analysis of the market.

The report profiles key players such as 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), and Zoetis (US).

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Driver: Increasing focus on real-time monitoring and early disease detection

The advancement in sensor technology has enabled farmers to detect diseases in animals at the earliest and take necessary actions. Adopting advanced sensing technologies reduces the cost incurred for livestock monitoring. These technologies not only help farmers in collecting real-time data related to animals' health and general behavior, including their feeding behavior, food and water quality, biosecurity, hygiene levels, etc., but also help in identifying, tracking, and tracing the animals accurately. Sensors and smart tags attached to animals provide real-time information and help farmers take preventive and corrective actions.

Restraint: High cost of livestock monitoring solutions

The high cost of livestock monitoring solutions is the major factor impeding the market growth. Livestock monitoring solutions such as monitoring and sensing devices and herd management software have high set-up and maintenance costs associated with them. Farmers also need to make heavy investments in automation and control devices, distribution wagons, systems based on RFID or GPS technology, and robotic equipment that incur high installation and maintenance costs, making their adoption unaffordable for smaller farmers. Similarly, in poultry farms, which are primarily unorganized small or medium-sized farms, the adoption of various poultry automation systems can affect the returns of poultry farmers as costs associated with the usage of advanced technologies in poultry farming are quite high. The deployment and adoption of livestock monitoring solutions need high initial investments, efficient farming tools, and skilled farmers.

Opportunity: Increasing number of dairy, poultry, and swine farms

In recent years there has been a significant increase in the number of dairy, poultry, and swine farms globally to meet the growing demand for meat and dairy products due to the rapid rise in the global population. According to the FAO of the United Nations (UN), the total number of cattle worldwide was 1.68 billion in 2018, and it was projected to reach 2.0 billion by 2021. The growing demand for livestock monitoring solutions can be majorly attributed to the ever-increasing number of dairy cattle to fulfill the surging demand for dairy products, such as butter, cheese, curd, and yogurt, globally. Similarly, an increase in meat consumption worldwide has led to a rise in the number of poultry and swine farms. As the herd size of dairy farms increases, it becomes difficult to identify and monitor the herd manually. Hence, the increasing herd size of livestock farms provides growth opportunities for the livestock monitoring industry. Livestock farms can be made more efficient by deploying high-tech systems in large farms to achieve optimization of yield and economies of scale.

Challenge: Global warming and other environmental concerns

Livestock farming has a wide environmental footprint and has the potential to adversely impact the environment. Livestock farming contributes to about 14 to 15% of the man-made greenhouse gas emissions that are a cause of global warming. Animal manure can significantly disrupt the nitrogen cycle or contaminate waterways. It contributes to land and water degradation, biodiversity loss, acid rain, coral reef degeneration, and deforestation. The livestock sector already uses about 10% of the global agricultural land and 8% of the total available freshwater. It is also largely responsible for deforestation and biodiversity loss and contributes to 15% of global CO2 emissions. According to FAO, the demand for meat is expected to rise by 73% from 2010 to 2030, and the demand for milk is expected to rise by 58% during the same period. Due to the increasing demand for livestock products, the environment is likely to face more pressure by 2030.

DeLaval (Sweden) is a market leader in providing dairy farm technologies globally. The company not only has a diverse portfolio of livestock monitoring products but also a strong geographic presence in Europe, the Middle East, and Africa (EMEA), Asia Pacific, and American markets. The company uses both organic and inorganic growth strategies to capture the market share and expand globally. For instance, in July 2020, DeLaval announced the acquisition of milkrite | InterPuls from Avon Rubber. milkrite | InterPuls is a global leader in providing complete milking point solutions to dairy farmers globally. The company also focuses on collaborating with other players to develop advanced and innovative livestock monitoring solutions.

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Livestock monitoring market in Asia Pacific is expected to register the highest growth during the forecast period. Rapid population growth in the emerging economies of the region and the subsequent rise in the demand for meat and dairy products is exerting pressure on the suppliers of livestock products to become more efficient and productive, thus pushing the sales of livestock monitoring solutions upward. The growing adoption of advanced technologies such as AI and IoT for animal monitoring applications is also expected to drive market growth in this region. Moreover, growing awareness among farm owners regarding the benefits of using livestock monitoring solutions and efficient interpretation of data offered by software platforms and mobile applications are expected to further boost the demand for livestock monitoring solutions in the Asia Pacific region.

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