Global Precision Livestock Farming Market Size, Trends & Analysis - Forecasts to 2026 By Offering (Services, Software, and Hardware); By System Type (Poultry Monitoring and Robotic Systems, Livestock Identification, Monitoring, and Tracking Systems, Precision Feeding Systems, and Milking Robotics Systems); By Application (Livestock Health and Behavior Monitoring, Feeding Management, Milk Harvesting, and Others [Calf Management, Genetic Management, Cattle Sorting, Data Analysis, and Financial Management]); By Farm Type (Poultry Farms, Swine Farms, Dairy Farms, and Others [Equine and Bovine Farms]); By Farm Size (Small Farms, Mid-sized Farms, and Large Farms); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Precision Livestock Farming Market Insights
Precision livestock farming is a technique to oversee animals by ceaseless constant observation and control of their reproduction. The reason behind precision livestock farming is to improve the animal health, wellbeing, and impact of surrounding and environment on the reproduction management. Advancements engaged with this market are precision feeding systems, precision milking robots, and identification & tracking. Sensors joined with shrewd programming are utilized to redress the requirements of the animals, which is picking up footing on the lookout. Increasing dairy products demand, climate change, minimum impact on nature, and extended profitability coupled with high yield is driving the market for the precision livestock farming market. Besides, government involvement and building subsidiaries are helping farmers to adopt the latest technology to improve yield is building the growth of the precision livestock farming market in recent times. Usage of IoT-and AI-empowered gadgets for checking domesticated animals, rising interest for computerization in the domesticated animals' industry, rising interest for protein and dairy items, and expanding center around continuous observing and early infection are the positive elements adding to the development of the market in the figure year.
Precision Livestock Farming Market: Offering
Services, software, and hardware are the segmentation of precision livestock farming based on the offer. Hardware is the largest growing segment of the precision livestock farming market as compared to the other two. Hardware components, equipment, devices, and sensors, are increasingly being adopted in livestock farming for a variety of applications. The demand for milking robotic systems, RFID tags, camera systems precision feeding systems, is growing among various livestock various farms such as dairy, swine, poultry, and several others.
Precision Livestock Farming Market: By System Type
System type of precision livestock farming can be studied as poultry monitoring and robotic systems, livestock identification, monitoring and tracking systems, precision feeding systems, and milking robotics systems. The milking robotics systems will be the highest revenue share contributor. This is due to the surging labor costs across the developed countries of the globe.
Precision Livestock Farming Market: By Application
Livestock health and behavior monitoring, feeding management, milk harvesting, and others are the applications involved in the precision livestock farming market. Animals wellbeing and conduct checking have the most elevated market for accuracy domesticated animals cultivating as animals wellbeing is of more noteworthy significance for the different partners in the biological system, for example, ranchers, government, research establishments, food handling organizations, and so forth. The reason behind such impressive importance of the segment is due to the emergence and re-emergence of various diseases among the livestock coupled with increasing consumer awareness concerning food traceability.
Precision Livestock Farming Market: By Farm Type
The farm type parameter of precision livestock farming can be explained as poultry farms, swine farms, dairy farms, and others. Dairy farms are responsible to bring the highest revenue among the other segments. With time raising demand for milk and their products to end up generating large scale of milk production and has increased the herd size. In developing regions, the selection of draining robots, exactness taking care of frameworks, and domesticated animals recognizable proof, checking, and GPS beacons has been seeing an enormous interest because of the lack of enough work in the created nations.
Precision Livestock Farming Market: By Farm Size
Farm size of precision livestock farming can be bifurcated into mid-sized, small, and large farms. The large farms have shown the highest market growth for the precision livestock farming market. The large farms show efficient animal production, early prediction of health problems, using a range of animal sensing technologies and animal welfare monitoring, monitoring animal social network
Precision Livestock Farming Market: By Region
Asia-Pacific is estimated to register the highest CAGR of the precision livestock farming market within the 2020-2026 period. Increasing adoption of precision livestock farming technology in various countries such as New Zealand, Japan, and Australia along with emerging countries such as India, and China is investing a huge portion of their revenue in the digitization of the livestock farming sector. In addition to this, the expanding interest for trend setting innovations will additionally upgrade the market development in the area. Moreover, the rising percentage of geriatric population in the mentioned countries 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.
Precision Livestock Farming Market Share and Competitor Analysis
The key players operating in the market include Allflex, Afimlik, BouMatic, GEA Farm Technology, Lely International, Dairymaster Livestock, and DeLaval among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2020, BouMatic, launched GEMINI, a milking robot having a box robot system. This launch helped the company improve its product portfolio.
In December 2019, BouMatic launched manure handling and improved the product portfolio of its segment.
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The Global Precision Livestock Farming Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Precision Livestock Farming Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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