Livestock Monitoring and Identification Market Size to Reach USD 3,690.4 Million [2022-2027] | 11.6% CAGR
According to Fortune Business Insights, the global Livestock Monitoring and Identification Market Size is projected to hit USD 3,690.4 Million in 2027, at CAGR of 11.6 % during forecast period [2022-2027]; High Consumption of Dairy Products to Stimulate Growth in Asia Pacific
/EIN News/ -- Pune, India, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The global livestock monitoring and identification market size are expected to reach USD 3,690.4 million by 2027, exhibiting a CAGR of 11.6% during the forecast period. The implementation of effective hardware solutions by governments, including neck/collar tags, RFID tags, injectable tags, and others will aid the development of the global market, states Fortune Business Insights, in a report, titled “Livestock Monitoring and Identification Market Size, Share & COVID-19 Impact Analysis, By Component, By End-use, and Regional Forecast, 2020-2027.” The market size stood at USD 1,545.0 million in 2019.We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain this global pandemic.
Industry Development:
September 2018: Allflex (SCR Engineers Ltd.), one of the leading electronic identification solution providers, announced Agrident GmbH, an agricultural company based in Germany, to expand its footprints in the global animal management systems and process control industry.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2022-2027 |
| Forecast Period 2022 to 2027 CAGR | 11.6% |
| 2027 Value Projection | USD 3690.4 million |
| Base Year | 2021 |
| Market Size in 2019 | USD 1545.0 million |
| Historical Data for | 2016-2018 |
| No. of Pages | 120 |
| Segments covered | Component; End-use; and Geography |
| Growth Drivers | Hardware Segment to Capture Maximum Share in the Global Market |
| Environmental Concerns Associated with Livestock Farming Will Hamper the Market Growth |
Regional Analysis:
High Consumption of Dairy Products to Stimulate Growth in Asia Pacific
The Asia Pacific is expected to rise at a considerable livestock monitoring and identification market share during the forecast period due to milk and beef consumption in the region. The government mandates and interstate livestock exchange regulations are expected to contribute positively to the market's growth. The launch of innovative technologies to cater to the demand for fast-moving animal and dairy products will spur opportunities for the market. The increasing population growth in India, South Korea, and others will augur well for the market. Europe is expected to observe a significant growth rate due to meat and dairy products in France, the UK, and Italy. According to European Union, the EU meat market will be accompanied by higher global demand over 2030, leading to higher exports and reaching 4.7mt in 2030 from 4.35mt in 2017.
Market Driver:
Rising Cases of Animal Diseases to Spur Demand for Livestock Monitoring and Identification Solutions
The rising population has led to a heavy demand for meat and livestock. The cattle industry's ongoing expansion will subsequently create lucrative opportunities for livestock monitoring in the forthcoming years. However, the threats from pathogens, coupled with the ever-changing environment, have resulted in disease outbreaks in the livestock industry. The increasing number of heat stress, floods, and drought events will further result in the spread of new diseases, emerging as macro-parasites and vector-borne diseases. For instance, in June 2019, farmers and livestock keepers across Asia witnessed the spread of African Swine Fever (ASF) that forced them to slaughter millions of pigs. Besides, the rising environmental concerns in various countries will constrict the livestock monitoring and identification market growth in the foreseeable future.
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The report on the livestock monitoring and identification market include:
- An insightful analysis of the market
- Fundamental market trends and drivers
- Evolving industry developments
- Wide-ranging data about eminent players
- Competitive landscape
- COVID-19 impact
Market Segmentations:
| Segmentations |
By Component
|
By End-use
|
Spike in COVID Cases to Dampen Business Development
The COVID-19 crisis has reduced the demand for animal products, especially meat and dairy products, across the globe. The restriction imposed by the governments has severely affected the global hotel and catering business, hence dampening market growth. However, new initiatives by governments and private organizations favoring animal health and welfare can simultaneously improve the market prospects in the foreseeable future. For instance, by January 2022, the United States Department of Agriculture (USDA) would not approve metal or other ear tags that do not contain RFID components for animal tracing.
Competitive Landscape:
Adoption of Key Strategies by Industry Players to Consolidate Business
The market is presently controlled by Zee Tags Ltd. (Datamars), Quantified AG, Allflex (SCR Engineers Ltd.), ID Tech Solutions Private Limited, Shearwell Australia, AEG ID (AB Electrolux), and others. Numerous companies are introducing innovative ways to enhance their product offerings. Moreover, prominent players are adopting strategies such as product launches, partnerships, and others to strengthen their global market presence.
The Report Lists the Main Companies in the Global Market for Livestock Monitoring and Identification:
- HerdX, Inc. (Boerne, Texas)
- Afimilk Agricultural Cooperative Ltd. (Afikim, Israel)
- infsoft GmbH (Ingolstadt, Germany)
- Zee Tags Ltd. (Datamars) (Auckland, New Zealand)
- Quantified AG (Nebraska, United States)
- Allflex (SCR Engineers Ltd.) (Texas, United States)
- BouMatic (Madison, Wisconsin)
- Connecterra B.V. (Amsterdam, The Netherlands)
- ID Tech Solutions Private Limited (Haryana, India)
- Shearwell Australia (East Bendigo, Australia)
- Y-Tex Corporation (Wyoming, United States)
- Dairymaster (County Kerry, Ireland)
- GEA Group (Düsseldorf, Germany)
- DeLaval Inc. (County Kerry, Ireland)
- CowManager B.V. (Harmelen, Netherlands)
- Valley Agricultural Software, Inc. (California, United States)
- Cainthus (Dublin, Ireland)
- Lely International N.V. (Maassluis, the Netherlands)
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Table Of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities, and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Livestock Monitoring and Identification Key Players Market Share Insights and Analysis, 2019
- Key Market Insights and Strategic Recommendations
- Primary Interviewee’s Key Responses
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Livestock Monitoring and Identification Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Hardware
- Software
- Services
- By End-use (Value)
- Dairy Farm
- Beef Farm
- Sheep Farm
- Deer Farm
- Goat and Pig Farm
- By Region (Value)
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
- Global Livestock Monitoring and Identification Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
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FREQUENTLY ASKED QUESTIONS
- What was the value of the market in North America in 2019?
In 2019, the North American market stood at USD 527.7 million.
- At what CAGR is the market projected to grow in the forecast period (2020-2027)?
Growing at a CAGR of 11.6%, the market will exhibit steady growth during the forecast period (2020-2027).
- Which is the leading segment in the market?
The hardware segment is expected to be the leading segment in the market during the forecast period.
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