Livestock Monitoring and Identification Market Analysis, Importance and Regional Outlook| Forecast to 2027
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 (Hardware, Software, and Services), By End-use (Dairy Farm, Beef Farm, Sheep Farm, Deer Farm, and Goat and Pig Farm), and Regional Forecast, 2020-2027.” The market size stood at USD 1,545.0 million in 2019.
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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.
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.
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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.
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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