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Livestock Monitoring Market Trends

  • Report ID: GMI10412
  • Published Date: Jul 2024
  • Report Format: PDF

Livestock Monitoring Market Trends

Innovations in IoT, AI, and data analytics have made livestock monitoring more efficient. Technologies such as RFID tags, GPS tracking, and wearable sensors allow farmers to monitor the health, location, and productivity of their livestock in real-time. IoT sensors such as wearables, smart collars, and environmental monitors continuously collect vast amounts of data on animal health, behavior, and environmental conditions. In addition, AI algorithms analyze this data, identifying patterns, trends, and potential issues. This allows farmers to gain actionable insights in decision-making. AI analyzes historical data and animal behavior patterns to predict potential health problems. This allows for preventative measures and intervention before animals become sick.
 

For instance, in April 2024, Afimilk unveiled an advanced herd management system that utilizes AI and IoT to provide real-time monitoring and analytics, enhancing farm productivity and animal health. The system utilizes various IoT sensors such as smart collars, milking monitors, and environmental sensors to collect real-time data on individual animals and the overall herd. It employs AI algorithms to analyze the vast amount of data collected by the IoT sensors. This benefit enhanced animal welfare, optimized production, and reduced costs.
 

Moreover, livestock monitoring systems reduce operational costs by minimizing losses due to diseases and improving overall farm management efficiency. This cost-benefit analysis encourages farmers to invest in these technologies. It generates significant cost savings for farmers by reducing medication use, improving feed efficiency, and lowering mortality rates. Additionally, these systems help farmers comply with growing regulations around animal welfare and food safety. Data-driven insights empower farmers to make informed decisions about their livestock management practices, leading to more efficient operations and improved productivity.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for livestock monitoring was valued at USD 6.6 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032, backed by the surge in global population and increased demand for meat and dairy products, leading farmers to focus on livestock productivity and efficiency.

The health monitoring segment is expected to account for over USD 2.1 billion by 2032, due to the increasing need for efficient disease management, early detection of health issues, and overall improvement in animal welfare.

In 2023, North America had a significant share of 34% and will continue to drive the industry growth through 2032, driven by the increasing adoption of advanced technologies, the presence of large-scale livestock farms, and stringent regulations on animal health & welfare.

Afimilk Ltd., Allflex Livestock Intelligence, BouMatic, DairyMaster, DeLaval, GEA Farm Technologies, Merck Animal Health, Nedap N.V., SCR Dairy, and Zoetis.

Livestock Monitoring Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 360
  • Countries covered: 24
  • Pages: 240
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