Livestock Monitoring System Market: Global Demand Analysis & Opportunity Outlook 2027
The market can be segmented on the basis of component, application and animal type. On the basis of component it is sub-segmented into hardware, software and services. The software is anticipated to be the fastest evolving sub-segment during the forecast period. The growing applications of the cloud based services across the globe is anticipated to be the major reason driving the growth of the sub-segment. On the basis of application, it is sub-segmented into feeding management, animal comfort management, milk harvesting management, reproduction management, behavior monitoring and control and heat stress management. On the basis of animal type, it is sub-segmented into cattle, swine, sheep & goat, poultry and others.
Livestock monitoring system market is anticipated to record a CAGR of 18.2% over the forecast period. It is expected to attain the total market size of the USD 13.3 billion by 2027. The increasing technological development including the application of the IoT enabled sensors is anticipated to boost the growth of the overall livestock monitoring system market during the forecast period. The supportive government policy integrates the different methods of farming. This is anticipated to boost the growth of the livestock monitoring system market during the forecast period.
On the basis of regional analysis, global livestock monitoring system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to lead livestock monitoring system market during the forecast period. The growing innovation in the field of the livestock management system is anticipated to reduce the overall cost associated with the cattle rearing which in turn support the growth of the market in the region. Asia-Pacific is anticipated to witness substantial growth in the global livestock monitoring system market. The reason can be attributed to high number of the cattle and buffaloes.
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Increasing trend of the IoT enabled services across the globe
The growing trend of IoT has transformed the farming methods. It has optimized the yield of the crops by helping the farmer to control the costs. Additionally, the increasing application of the IoT enables connected sensor helps the farmer to monitor the heart rate, blood pressure and digestion of the livestock. The IoT based sensors also helps in the tracking of the animals, locating the sick animals and enhances the grazing patterns. Thus, the increasing application of the IoT enables services is anticipated to increase the growth of the overall livestock monitoring system market during the forecast period.
The report titled “Livestock Monitoring System Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global livestock monitoring system market in terms of market segmentation by component, by application, by animal type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global livestock monitoring system market which includes company profiling of key companies such as DeLaval, GEA Group AG, Afimilk Ltd., Sensaphone, Rugged Networks Limited., BouMatic LLC., Communications Group, Lethbridge Ltd., Lely Holding S.À.R.L, SCR Dairy, Inc., DairyMaster, Valley Agriculture Software and SUM-IT Computer Systems, Ltd. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global livestock monitoring system market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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