Livestock Monitoring and Identification Market Size, Share Report, Analysis, Trends, Growth 2030

According to the report published by Zion Market Research, the global Livestock Monitoring and Identification Market size was valued at USD 1,706.90 Million in 2022 and is predicted to reach USD 3,619.10 Million by the end of 2030. The market is expected to grow with a CAGR of 9.85% during the forecast period. The report analyzes the global Livestock Monitoring and Identification Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Livestock Monitoring and Identification Market industry.

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Global Livestock Monitoring and Identification Market: Overview

Livestock farming can be extremely tiring as it involves the management of a wide range of animals on the farm. The livestock monitoring and identification software is a framework that aids the farmers to track and maintain the livestock right from they are born till the time they are sold. With the use of this system, it becomes easy for the farmers to keep a track of the number of farm animals, their performance & cost metrics, and their financial tracking unit sales.

Global Livestock Monitoring and Identification Market: Growth Factors

The global livestock monitoring and identification market are growing at a speedy rate. The increasing prevalence of livestock diseases, the growing need for livestock monitoring and identification solutions in small & mid-sized farms and rapidly growing dairy farms with the increasing population of cattle are some of the primary factors that are fueling the growth of the global market. Further, the livestock monitoring and identification solutions collect and analyze the critical data points both on the herd and individual level. The identification system also allows the farmers to easily record livestock identification information by entering the animals directly into the software as soon as they are born. The farmers can also better manage the flocks & herds, obtain access anytime, anywhere to the livestock ID tags, track the livestock from birth to relocation or processing, and enhance the consumer trust with transparent traceability. All such factors coupled with the ability of livestock monitoring and identification in disease management, vaccine schedule, and feed management helps to reduce mortality rate and improve overall production and thus are leading to the rapid adoption of these solutions which in turn is propelling the growth of the global market.

Moreover, the increase in penetration of IoT-based technologies and smart sensors in livestock monitoring and identification is also fostering the growth of the global livestock monitoring and identification market. Furthermore, the increasing awareness in livestock producing farmers regarding the importance of digital technology for effective management of livestock to increase overall productivity will provide better growth opportunities to the growth of the global livestock monitoring and identification market during the forecast period. However, the high price of livestock monitoring and identification software and services along with less penetration of technology in low and middle-income countries may hamper the growth of the global livestock monitoring and identification market.

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Global Livestock Monitoring and Identification Market COVID-19 Impact

Current covid-19 pandemic conditions are expected to moderately affect the global livestock monitoring and identification market. Many livestock management solutions providers are remotely operating and offering livestock management solutions via cloud platforms. This has increased the demand for livestock monitoring and identification solutions during the pandemic period. Further, livestock producing farmers are observed to be more cautious regarding the spread of Covid-19 infection in animals which in turn resulted in higher adoption of these solutions. In addition, with the growing awareness regarding the prevalence of the diseases, the market is expected to witness healthy growth during the forecast period.

Global Livestock Monitoring and Identification Market: Segmentation

The livestock monitoring and identification market is bifurcated based on component, end-use, and region. Based on the component, the global livestock monitoring and identification market is divided into services, software, and hardware. The end-use segment consists of goat & pig farm, deer farm, sheep farm, beef farm, and dairy farm.

Livestock Monitoring and Identification Market: Report Scope

Global Livestock Monitoring and Identification Market: Regional Analysis

Asia Pacific is expected to remain a major revenue contributor in the global livestock monitoring and identification market during the forecast period. Some of the prominent factors that are contributing to the major share of the market in this region include the large number of pig & poultry farms, increasing penetration of digital technologies, and growing awareness regarding the benefits of livestock monitoring and identification solutions. China is expected to hold the maximum share of the market in Asia Pacific region owing to the presence of livestock farms. North America is projected to contribute significant revenue in the global livestock monitoring and identification market. Factors such as high adoption of digital technologies, increasing use of livestock management solutions, and the presence of key players in the region are combinedly contributing to the healthy share of the market.

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Global Livestock Monitoring and Identification Market: Competitive Players

The key participants that are operating in the global livestock monitoring and identification market are:

• GEA Farm Technologies
• Nedap NV
• Fullwood Packo Ltd.
• Fancom BV
• Lely International NV
• Dairymaster Ltd.
• Merck Animal Health
• BouMatic
• LLC
• Afimilk Ltd.
•  DeLaval among others.

Global Global Livestock Monitoring and Identification Market Segmentation Analysis

Based on the component

• services
• software
• hardware

The end-use segment

• goat & pig farm
• deer farm
• sheep farm
• beef farm
• dairy farm

Global Livestock Monitoring and Identification Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.