Livestock Monitoring Solutions Market 2023 : Industry Insights, Outlook and Forecast upto 2024

The coronavirus (COVID-19) outbreak has disrupted global shipping and consumer demand in agriculture and livestock industries. Hence, companies in the livestock monitoring solutions market are innovating in tools that provide real-time insight into the dynamic situation in agriculture and livestock, which was already facing a series of supply shocks before the onset of COVID-19. For instance, Gro Intelligence— a software company in New York, is increasing its marketing capabilities to advertise its COVID-19 Monitoring Kit, which offers a wealth of data about agriculture and livestock management in real-time.

Since it is still unclear as to how the COVID-19 infection spread on a mass scale, it has become crucial for livestock owners to maintain hygiene and sanitization at farms. Artificial intelligence (AI)-enabled monitoring solutions help to detect variations in temperatures of animals and delivers insight about potential diseases.

These factors are likely to drive the livestock monitoring solutions market during the forecast period.

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Durability in Hardware of IoT Sensors Preferred by Livestock Owners

Several countries such as India are realizing that technological innovations are the key to become a superpower. Startups in the livestock monitoring solutions market are capitalizing on this trend to innovate in software. However, challenges in smart farming such as maintenance of hardware can be challenging for livestock owners, since sensors can be easily damaged in IoT (Internet of Things) products. Hence, companies such as Eastern Peak— a professional strategy consulting and technology provider, is increasing the availability of its easy-to-maintain and durable IoT products that render cattle tracking and field mapping.

Companies in the livestock monitoring solutions market are increasing their R&D muscle to develop smart IoT sensors that can be attached to animals on a farm to monitor their health and log performance. Such sensors are capable of identifying sick animals that can be separated from the lot to avoid contamination, which is especially crucial during the ongoing coronavirus era.

Precision Livestock Farming Enabled with Drones and AI-backed Autonomous Solutions

Apart from software and IoT sensors, companies in the livestock monitoring solutions market are boosting production capabilities in drones that deliver real-time cattle tracking and help farmers to reduce staffing expenses. Innovative products are bolstering growth for the livestock monitoring solutions market, which is expected to cross a valuation of US$ 3.6 Bn by the end of 2030. Manufacturers are innovating in collar tags embedded with smart sensors that provide a wealth of information about the health, temperature, activity, and location of cattle in a farm.

Precision livestock farming is bringing about significant change in the market landscape. Cattle Eye is increasing efforts to launch its AI-backed autonomous livestock monitoring platform to revolutionize the protein supply chain.

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Smart Wearable Technologies Eliminate Issues of Greenhouse Gas Emissions in Farms

Companies in the livestock monitoring solutions market are gaining proficiency in deep learning to design AI-enabled monitoring solutions that interpret visual imagery of livestock with the help of web cameras. They are offering customized and flexible cloud monitoring solutions that are capable of detecting toxic gases and water quality factors.

Solution-driven wearable technologies are creating incremental opportunities for companies in the livestock monitoring solutions market. For instance, Zelp— a U.K.-based agri-tech company is increasing its focus in smart wearable technology for cattle, which helps to neutralize livestock methane exhalation. Such technology is solving the issue of agricultural greenhouse gas emissions. Smart wearable technologies have the potential to reduce emissions in livestock farms that can be compared to all forms of transportation combined. The beef and dairy industries can capitalize on such technologies to make an immediate difference to the climate crisis.

IoT Crucial for Leveraging Business Opportunities in Beef and Dairy Industries

Since good health and well-being of animals are essential to improve the protein supply chain, companies in the livestock monitoring solutions market are designing IoT-based systems to deploy day-to-day monitoring of animal conditions. Automated monitoring systems are helping companies to exploit market potentials in beef and dairy industries. Innovative techniques of data measurement and cloud systems are key focus points for software companies.

The livestock monitoring solutions market is progressing at an astonishing CAGR of ~16% during the forecast period. The agriculture industry is currently facing challenges related to scarcity of natural resources and food waste. Since agriculture and livestock industries are interdependent, it has become crucial for software companies to push IoT and cloud-based technologies to improve the productivity and efficiency in agriculture and livestock industries. As such, companies are innovating in IoT-based cow health monitoring systems.

Data-driven Monitoring Solutions Help Maximize Profitability and Productivity

There is a demand for livestock monitoring solutions that provide timely reproduction, nutrition, and health insights of animals. Allflex Livestock Intelligence is filling this gap by providing solutions that collect and analyze critical data points to drive prosperity for livestock owners. Companies in the livestock monitoring solutions market are developing systems that provide actionable insights on remote mobile and electronic devices. They are introducing modular cow monitoring solutions that provide information about the well-being status of cattle and their groups.

Data-driven livestock monitoring solutions are helping farm owners to improve the production of milk. In order to bolster their credibility in livestock monitoring solutions market, companies are offering customizable plan and payment options to end users with respect to the use of smart wearable devices such as neck and ear tags. High performance beef cattle monitoring solutions offer precise guidance for insemination timing to optimize conception rates.

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