Smart Collar Tag for Cow Market to Grow at a CAGR of 10.09% to reach US$ 513.7 million from 2020 to 2027

The smart collar tags for cow market was valued at US$ 243.0 million in 2019 and is projected to reach US$ 513.7 million by 2027; it is expected to grow at a CAGR of 10.09% during 2020-2027.

The agriculture and livestock industry is shifting toward automation to reduce the operational time required to perform the farming task. Precision agricultural practices are helping the farmers to enhance profit margin and reduce the labor force expenditure. The livestock and dairy farming industry are flourishing with increasing demand for dairy products. Increasing population worldwide is a key factor for the growth of the dairy industry. Technological advancements in dairy farming such as low-cost automation, advanced milking robots, ear tags, and collar tags for livestock activity monitoring—are offering enhanced benefits to the farmers, thereby contributing to the market growth. Rising awareness among farmers and changing attitude toward advanced technology are key factors propelling the market growth. Increasing adoption of smart collar tags for locating the cows and monitoring their behavior and health is mounting the demand for these tags among dairy farmers and ranchers. Increasing developments in smart collar tags, such as enhanced battery life, solar-generated power support, and integration of advanced sensors, are further enhancing their performance. Smart collar tags are being utilized to resolve the cattle rustling or theft problem in African countries. In addition, smart collar tags for cows collect enormous data, which helps farmers to improve productivity by monitoring individual cow behavior.

The smart collar tags are connected to servers and they provide information on dairy farmers' smartphones, tablets, and PCs. Easy access to the cow's location and real-time monitoring are increasing the adoption of smart collar tags among dairy farmers and ranchers. The COVID-19 pandemic situation has further increased the importance of the agricultural and livestock industry. The demand for dairy products is increasing owing to nutritional content. To meet such increasing demand for dairy products, the dairy farmers are looking for new technologies to enhance milk production volume. Rising awareness about modern technologies and changing attitude of dairy farmers toward smart connectivity solutions are augmenting the growth of the smart collar tags for cow market

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Smart Collar Tag for Cow Market: Strategic Insights

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IMPACT OF COVID-19 ON SMART COLLAR TAGS FOR COW MARKET

While there are diverse viewpoints on the damage, which COVID-19 may have caused, the fact remains that COVID-19 spread worldwide. It affected several industries, including energy & power, oil & gas, construction, agriculture and manufacturing, among others. Though the complete impact of COVID-19 is still unidentified, the impact across the agriculture value chain will probably be less affecting parties involved with livestock business. COVID-19 is underlining the possible risks and vulnerability of the present agriculture value chain model as well as challenging the livestock industry to consider altering its global supply chain model. Several livestock handlers were dependent on in-house suppliers for raw materials; however, the pandemic's outbreak shifted their focus to alternate suppliers. One of the primary raw materials, i.e., chips, used in smart collar tags, also witnessed a drop in its prices. However, at the industry level, the demand for smart tags was impacted significantly. Reduced fixed investment, private consumption, and industrial activity owing to the COVID-19 pandemic has slightly hindered the growth in the demand for smart collar tags globally, particularly in Q1 and Q2 2020. The containment measures taken by various governments worldwide resulted in affecting every component of the world's total demand.

Market Insights–Smart Collar Tags for Cow Market 

Rising Need for Cattle Tracking Solutions

The introduction of the Internet of things (IoT) technology in the livestock industry brought new solutions for dairy farmers to manage the livestock more effectively. New smart technologies, such as real-time animal activity monitoring, automated feeding systems, and health tracking devices, have boosted the revenue margin for dairy farmers. The cost-saving benefits experienced after mounting the collars on a cow is one of the key factors for the market growth. Dairy farmers and ranchers are adopting smart collars to locate and monitor the cow's activities. The IoT-based cattle-tracking collar offers remote visibility of the livestock locations. Securing and protecting the cows from natural disasters, theft, injury, and organized crime are among the key factors augmenting the adoption of these collars in a livestock monitoring application. Rising awareness about IoT technology among livestock owners and farmers is supplementing the market growth. For instance, in January 2020, Chipsafer—a livestock monitoring solution-providing company—introduced a new solution for cattle management. The company introduced a solar-powered collar to offer protection against cattle theft. The company developed this effective solution to avoid cattle rustling incidences, specifically in Kenya.

Growing inclination of dairy farmers and ranchers toward smart agricultural practices and livestock monitoring solutions is mounting the demand for smart collars. Companies are further improving the solution by integrating advanced sensors for enhanced monitoring and tracking features. For instance, Sigfox—a provider of the IoT technology—offered a series of wireless monitoring devices for livestock, including collars and tags. Ranchers are using smart livestock collars offered by the company to monitor the cattle. Further, the cost-saving benefits of smart collars are increasing their incorporation in livestock tracking applications. The demand for wearable livestock trackers is mounting across the globe, which is supporting the market growth. For instance, according to the Sierra Wireless company prediction, the wearable livestock trackers market is expected to reach US$ 2.5 billion by 2025. Such supporting stats and acceptance of the IoT technology in farming and livestock monitoring applications are driving the market.

Product Type Segment Insights

The dairy farmers and ranchers are adopting smart collar tags to track and monitor their herd of cattle. Smart collar tags that are mounted on the cow’s neck transit signals to connected devices or systems, such as smartphones, PCs, and other specifically designed devices. The smart collar tags are equipped with communication technologies such as radiofrequency or global positioning system (GPS).  Based on product type, the global smart collar tags for cow market is segmented into GPS based, radio based, and others. The radio-based segment is expected to hold the largest market share during the forecast period

Application Segment Insights

Initially, smart collar tags for cows were developed to remotely track the cow’s location via connected devices. With technological advancements, smart collar tags are now utilized for a wide range of applications, such as health monitoring and training, as well as for dairy automation. Integration of various sensors and advancement in connecting technologies have improved the functionality of smart collar tags for cow in wide application areas. Based on application, the global smart collar tags for cow market is segmented into tracking, training, and others. The tracking segment is anticipated to hold the largest market share, and the training segment is expected to grow at the highest CAGR during the forecast period.

Smart Collar Tag for Cow Market Regional Insights

The regional trends and factors influencing the Smart Collar Tag for Cow Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Collar Tag for Cow Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Smart Collar Tag for Cow Market Report Scope

Smart Collar Tag for Cow Market Players Density: Understanding Its Impact on Business Dynamics

The Smart Collar Tag for Cow Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Smart Collar Tag for Cow Market are:

1. Afimilk Ltd.
2. BouMatic
3. Connecterra B.V.
4. Cowlar Inc
5. CowManager B.V.

Disclaimer: The companies listed above are not ranked in any particular order.

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

• 2019: Lely announced Lely North America will be significantly expanding its investment, commitment and physical presence in North America.
• 2019: Quantified Ag acquired by Merck Animal Health, the companies announced last week. Specific terms of the agreement were not disclosed. In August 2016, SPN profiled Quantified Ag.
• 2017: SCR Expanded Heatime Pro and Heatime HR-LD systems, and was rolled out with SCR Dairy’s recent software upgrade.

The Global Smart Collar Tags for Cow Market has been segmented as Follows:

By Product Type

• GPS Based
• Radio Based
• Others

By Application

• Tracking
• Training
• Others

By Geography

• North America
• U.S.
• Illinois
• Ohio
• Michigan
• Indiana
• Canada
• Mexico
• Europe
• France
• Germany
• Italy
• Russia
• UK
• Rest of Europe
• Asia Pacific (APAC)
• South Korea
• Australia
• China
• Taiwan
• Japan
• Rest of Asia-Pacific
• Middle East & Africa (MEA)
• South Africa
• Saudi Arabia
• UAE
• Rest of MEA
• South America (SAM)
• Brazil
• Rest of MEA

Company Profiles

• Afimilk Ltd
• BouMatic
• Connecterra B.V.
• Cowlar Inc.
• CowManager B.V
• HerdInsights
• Lely
• MOOCALL
• QUANTIFIED AG
• SCR Dairy