The "Precision Livestock Farming Market with COVID-19 Impact Analysis by System Type, Application (Milk Harvesting, Feeding, Health), Offering (Hardware, Software, Services), Farm Type (Dairy, Swine, Poultry), Farm Size, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The precision livestock farming market was valued at USD 3.4 billion in 2019 and is expected to reach USD 4.8 billion by 2025, at a CAGR of 9.0% from 2020 to 2025.
The precision livestock farming market has a promising growth potential owing to several factors such as the implementation of IoT- and AI-enabled devices for livestock monitoring, surging labor costs and rising demand for automation in the livestock industry, increasing focus on real-time monitoring and early disease detection, and growing demand for protein and dairy products have become the prominent factors for the growth of the precision livestock farming market globally.
The market for poultry monitoring and robotic systems could grow at the highest CAGR during the forecast period
The demand for poultry monitoring and robotic systems could show high growth in the precision livestock farming market. The major factor driving this growth is the increasing awareness among the poultry farm owners towards the technology adoption for poultry farming. The real-time monitoring of poultry birds enables farm owners to detect abnormal behavior, stress, disease, and several other parameters. A number of precision livestock farming technology companies exist in the market that provides integrated solutions to monitor poultry farms and enables farmers to optimize the livestock farming operation by timely actions.
The market for hardware is estimated to account for the largest share between 2020 and 2025 in the precision livestock farming market
The precision livestock market for hardware is expected to flourish at a significant growth rate and is estimated to hold the dominant position during the forecast period. Hardware components, sensors, devices, and equipment are increasingly being adopted in livestock farming for several applications. Moreover, the demand for milking robotic systems, precision feeding systems, RFID tags, camera systems is increasing among several livestock farms like dairy, poultry, swine, and several others.
The market for livestock health and behavior monitoring application is estimated to grow at the highest CAGR from 2020 to 2025
The precision livestock farming market for livestock health and behavior monitoring applications is expected to grow at the highest CAGR during the forecast period. The livestock health has been in focus since the past several years among the livestock farmers and other stakeholders. The rising diseases among them is the very reason for such high attention towards livestock health monitoring. Moreover, the COVID-19 pandemic has resulted in creating a demand for safe food where the source of the food can be traced back to the farm.
Precision livestock farming market in the APAC region is expected to witness robust growth during 2020-2025
The developing countries in the region is accelerating the demand for the precision livestock farming technology as the deployment of RFID tags, camera systems, and other livestock monitoring devices is on the rise. Moreover, the rising geriatric population in the countries like Japan and South Korea has put stress on the labor force to work on the farms which has led to the adoption of milking robotic systems and precision feeding systems in the livestock farms.
Implementation of IoT- and AI-Enabled Devices for Livestock Monitoring
Transition from Precision Livestock Farming to Decision Livestock Farming
Surging Labor Costs and Rising Demand for Automation in the Livestock Industry
Increasing Focus on Real-Time Monitoring and Early Disease Detection
Growing Demand for Protein and Dairy Products
High Upfront Cost and Marginal Return on Investment
Lack of Technological Awareness Among Livestock Farmers
Increasing Adoption of Livestock Monitoring Technology in Developing Countries
Increasing Number of Dairy, Poultry, and Swine Farms
Growing Popularity of Poultry Robots and BSC Smart Cameras
Stringent Government Regulations and Trade Barriers
Emergence & Re-Emergence of Diseases and Environmental Concerns
Allflex (Subsidiary of Merck & Co. Inc.)
Delaval (Subsidiary of Tetra Laval International)
Fancom (Subsidiary of Ctb International Corp.)
GEA Farm Technology (GEA Group Ag)
Livestock Improvement Corporation (LIC)
Nedap Livestock Management
VDL Agrotech (VDL Group)
Waikato Milking Systems
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201203005868/en/
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