The livestock monitoring market is expected to register a CAGR of 11.6% during 2023–2031. The growing adoption of IoT and AI for livestock monitoring is likely to remain a key trend in the market.

Livestock Monitoring Market Analysis

• Market expansion is witnessed along with the upsurge in cattle population and increasing adoption of livestock monitoring technology. Another factor driving the growth of the livestock monitoring market is the growing prevalence of zoonotic diseases, the outbreaks of which can pose a socio-economic threat by leading to losses in production and disruption to local markets, rural economies, and international trade.
• The market is growing because there is an increasing focus on real-time monitoring and early detection of diseases and rising global demand for meat, coupled with cost savings achieved by the adoption of livestock monitoring solutions.

Livestock Monitoring Market Overview

• Livestock monitoring is done through various devices, including wearable devices, sensors, cameras, and software applications, all aimed at collecting data about the animal's health, behavior, and locomotion. It will help in the continuous gathering of real-time data that can monitor key animal and environmental biomarkers, providing decision tools for farmers.
• Livestock monitoring is highly essential for enhancing the welfare of the animal, issuing an early warning system in cases of illness or injury, and making better decisions to improve profitability. State-of-the-art technologies such as Precision Livestock Farming (PLF) enable the continuous collection of real-time data through sensors, advanced algorithms, and valuable insights for effective management of the production process by the farmer.

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Livestock Monitoring Market: Strategic Insights

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Livestock Monitoring Market Drivers and Opportunities

Growing Focus on Real-Time Monitoring and Early Disease Detection

• The demand for livestock monitoring is increasing rapidly, where real-time monitoring and early disease detection become key factors. This brings into line the dual requirements of ensuring optimal health conditions for the animals and the reduction of risks associated with outbreaks.
• Real-time monitoring allows farmers to continuously monitor the welfare and behavior of their livestock and to undertake timely interventions if certain signs and symptoms raise health concerns. It also helps in the containment of a breakout of diseases in the population of animals, thus securing the entire health and productivity spectrum of the livestock.
• In this way, such focus on proactive monitoring for possible disease outbreaks and prevention being at the forefront of practices underlines the critical role played by livestock monitoring solutions in the contemporary agricultural business, thereby stimulating growth and innovation in this market.

Rising Demand for Meat Globally

• One growth driver, thereby underpinning growth in the livestock sector, is the increasing global demand for meat, notably in countries such as China. Given the rapidly growing population and rising middle-class income in China, demand for meat products has soared in recent years, making a remarkable change in the world meat market. For instance, changes in China's dietary preferences and consumption patterns have triggered a high demand for meat, which is expected to rise significantly in the next few decades.
• Therefore, in such a situation, it becomes an excellent opportunity for vendors who provide livestock monitoring solutions since managing and optimizing meat production becomes of paramount importance with the increasing demand. Moreover, if meat consumption continues to rise in China, this would illustrate the general market potential for livestock monitoring technologies through an emerging need for sustainable and efficient livestock farming to keep pace with global shifts in consumption.

Livestock Monitoring Market Segmentation

Key segments that contributed to the derivation of the livestock monitoring market analysis are component, animal type, and application.

• By component, the market is divided into hardware, software, and services.
• By animal type, the market is bifurcated into cattle, poultry, swine, equine, and others.
• In terms of application, the market is segmented into milk harvesting management, reproduction management, feeding management, animal comfort management, and others.

Livestock Monitoring Market Share Analysis by Geography

• The livestock monitoring market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering mechanical keyboards market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the livestock monitoring market in these regions.

Livestock Monitoring Market Report Scope

Livestock Monitoring Market News and Recent Developments

The livestock monitoring market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the livestock monitoring market are listed below:

• Merck Animal Health, a division of Merck & Co., Inc., Rahway, N.J., USA (NYSE: MRK), announced the launch of FALCON® Biomass, a powerful, always-on biomass estimation unit that provides key information about average weight, distribution, and growth trends to improve fish farming operations. Built with more than 15 years of biomass estimation experience, measurements are collected autonomously, with reduced stress and negative impact on fish welfare or feeding because the fish remain in the water.

(Source: Merck & Co., Inc., Company Website, August 2024)

• Precision animal health technology brings data insights together to help cattle producers make earlier, more informed decisions to help keep animals healthy and productive. The newest tools from Zoetis – Performance Ranch™ and BLOCKYARD™ – provide cattle producers with the information they need at their fingertips, accessible from digital devices anywhere.

(Source: Zoetis, Press Release, January 2022)

Livestock Monitoring Market Report Coverage and Deliverables

The "Livestock Monitoring Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Livestock monitoring market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Livestock monitoring market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Livestock monitoring market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the livestock monitoring market
• Detailed company profiles