The Global Livestock Monitoring Market is expected to reach $15474.13 million by 2028

As per Triton's research report, the global livestock monitoring market gathered $4534.03 million in 2021 and is estimated to advance at a CAGR of 19.33% by 2028.

A recent study by Triton Market Research titled 'Global Livestock Monitoring Market' includes the global analysis and forecasts by Animal Type (Poultry, Goat & Sheep, Cattle, Equine, Swine, Others), Application (Feeding Management, Behavior Monitoring, Milk Harvesting, Animal Health Monitoring & Comfort, Breeding Management, Heat Stress, Other Applications), Product Type (Standalone Software [On-Premise, On-Cloud], Hardware with Integrated Software & Systems [GPS, Sensors, Others], Services [Maintenance & Support, Integration & Deployment, Other Services]), Geography (Middle East and Africa, North America, Asia-Pacific, Latin America, and Europe).

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The livestock monitoring system helps farmers check livestock animals' health, behavior, and wellness using IoT-based technology.

According to Triton's analysis, from 2022 to 2028, the global livestock monitoring market is expected to develop at a compound annual growth rate (CAGR) of 19.33%. By 2028, it is expected to generate an additional $15474.13 million in income.

A rise in the frequency of illnesses that affect animal health and impede the production of livestock products has been seen over time. When diseases are not identified in time, the health of the animals deteriorates and in some situations, they die. IoT-based livestock management technologies helps to tackle these problems by ensuring seamless animal upkeep, which boosts the growth of the livestock monitoring market.

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On the other hand, many small-scale farmers oppose technology adoption, reducing the demand for livestock monitoring. It is because the machines used for livestock management are supported by technologies such as AI, drones, etc., that are uneconomic for such farmers. Therefore, these challenges are restricting the development of the studied market.

The livestock monitoring market is segmented into three categories: product, application, and animal type. The product segment is classified into three types: standalone software, hardware with integrated software and system, and services. Standalone software supports both on-premise and cloud deployments, whereas hardware with integrated software and system includes GPS, sensors, and other functions. Maintenance and support are among the services offered, along with integration and deployment. The animal type segment includes poultry, goats and sheep, swine, equines, cattle, and others. Finally, the application part is organized into numerous categories, including feeding management, behavior monitoring, milk harvesting, animal health monitoring and comfort, breeding management, heat stress, and others.

The Asia-Pacific region is predicted to experience the quickest growth rate in the global livestock monitoring market during the forecasted period. The rapid growth of the world's population has increased demand for food, products, and other resources. To meet the needs of the large population, animal sizes have increased dramatically throughout the region. As a result, market participants are supplied with profitable prospects to create new and creative solutions that can manage cattle efficiently. These factors are driving the expansion of the livestock monitoring market.

The leading companies in the livestock monitoring market include Boumatic, Cainthus, Cattle Eye Ltd, Afimilk Ltd, Cowmanager BV, GEA Group, Delaval, Valley Agriculture Software, Allflex Livestock Intelligence, Herdx Inc, Sensaphone, Connecterra BV, Nedap NV, Lely, and Dairymaster.

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Question & Answer: Livestock Monitoring Market

Question 1: What factors are accelerating the livestock monitoring market's growth?
Answer: Over the years, there has been an increase in the prevalence of diseases impacting the health of the animals and hampering the production of livestock products. Untimely detection of disease results in deterioration of animal health, leading to deaths in certain cases. Such issues are resolved using IoT-based livestock management technology that ensures smooth maintenance of livestock, thus accelerating the livestock monitoring market's growth.

Question 2: What factors are restricting the development of the livestock monitoring market?
Answer: Many small-scale farmers oppose technology adoption, reducing the demand for livestock monitoring. It is because the machines used for livestock management are supported by technologies such as AI, drones, etc., that are uneconomic for such farmers. Therefore, these challenges are restricting the development of the studied market.

Question 3: Which region is expected to have the fastest growth rate in the global livestock monitoring market?
Answer: The Asia-Pacific is expected to have the fastest growth rate in the global livestock monitoring market during the forecasted period. The growth is supported by the rapid increase in the global population, which has boosted the demand for food, products, and other resources. To fulfill the requirements of the huge population, animal size has also significantly grown across the region. As a result, the players in the market are presented with lucrative opportunities to manufacture new and innovative products that can manage livestock smoothly. These factors are fueling the growth process of the livestock monitoring market.

Question 4: What are the leading companies in the livestock monitoring market?
Answer: The leading companies in the livestock monitoring market include Boumatic, Cainthus, Cattle Eye Ltd, Afimilk Ltd, Cowmanager BV, GEA Group, Delaval, Valley Agriculture Software, Allflex Livestock Intelligence, Herdx Inc, Sensaphone, Connecterra BV, Nedap NV, Lely, and Dairymaster.

Related Report:

Global Veterinary Research Laboratory (VRL) Market-
https://www.tritonmarketresearch.com/reports/veterinary-research-laboratory-market

The global veterinary research laboratory (VRL) market is likely to propel at a CAGR of 10.63% from 2021 to 2028 while gathering $5167.90 million by 2028.

Veterinary research laboratories are institutes where various responsibilities related to veterinary sciences are conducted. These include diagnosis of treatment, prevention, or monitoring of animal diseases.

The market is expanding owing to the increasing awareness among people willing to pay for animal healthcare. Moreover, the implementation of stringent regulations pertaining to livestock health in the agriculture sector has also raised the demand for laboratory testing services.

However, the shortage of skilled professionals in underdeveloped regions and the lack of standardized regulations regarding animal healthcare hamper the growth of the veterinary research laboratories (VRL) market. Such challenges are expected to reduce with the advancement in technology in animal healthcare and growing government initiatives to promote animal health.

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