Livestock Monitoring Market Worth 952.7 Million USD by 2022

Friday 20 January 2017, Amsterdam

The report, now available on ASDReports, "Livestock Monitoring Market by Offering (Hardware, Software, and Service), Species (Cattle, Poultry, Swine, Equine), Application (Milk Harvesting, Feeding, Breeding, Behaviour Monitoring & Control), and Geography - Global Forecast to 2022", The livestock monitoring market is expected to grow at a CAGR of 18.01% between 2016 and 2022, to reach from USD 285.8 Million in 2015 to USD 952.7 Million by 2022.

The rapid growth of the livestock monitoring market is attributed to various factors including growing size of dairy farms, technological advancements along with new product launches, and substantial cost savings associated with livestock monitoring management.

The feeding management application is expected to hold the largest size of the livestock monitoring market by 2022

The feeding management application is expected to hold the largest market size among all applications during the forecast period. A number of factors such as increasing preference for automated feeding systems, and the increasing availability of innovative feeding technologies such as liquid feeding systems and dry feeding systems are driving the growth of the market for this application segment.

The hardware offering is expected to hold the largest market size during the forecast period

Hardware held the largest market size in the offering segment owing to increasing use of RFID, Sensors, and GPS technology in the livestock farm. The larger share of hardware is attributed to the increasing demand for livestock monitoring systems, increasing preference toward automated hardware and systems, technological advancements by key players to introduce innovative products, rise in the demand for dairy products, and increasing number of dairy cattle globally.

The market in APAC is expected to grow at the highest CAGR during forecast period

The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The primary driving forces for this growth are increasing technological adoption and growing number of cattle and poultry providing huge opportunities in APAC countries, especially in India, China, and Japan. The livestock monitoring market in APAC is set to grow because of technological advancements and increased awareness among farmers regarding latest livestock monitoring technologies.

The report also profiles the most promising players in the livestock monitoring market. The key players in the livestock monitoring market are DeLaval (Sweden), GEA Group AG (Germany), Afimilk Ltd. (Israel), BouMatic LLC (U.S.), SCR Dairy, Inc. (Israel), DairyMaster (Ireland), Lely Holding S.À.R.L (Netherlands), SUM-IT Computer Systems, Ltd. (U.K.), and Valley Agriculture Software (U.S.).