Livestock Monitoring Solutions Market: Introduction
Transparency Market Research delivers key insights on the global livestock monitoring solutions market. In terms of revenue, the global livestock monitoring solutions market is estimated to expand at a CAGR of ~16% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global livestock monitoring solutions market.
The global livestock monitoring solutions market is broadly impacted by several factors, including adoption of IoT and NextGen technologies for monitoring dairy/beef animals across the globe. Thus, expanding applications of livestock monitoring solutions for different end users are propelling the global market for livestock monitoring solutions.
Livestock Monitoring Solutions Market: Dynamics
Livestock monitoring solutions offer the ability of visual surveillance while there is no observer directly on site. Surveillance may be performed directly or can be stored, evaluated, as well as repeated as often as necessary. This includes surveillance from a distance by means of electronic equipment (such as smart CCTV cameras). A livestock monitoring solution typically comprises components such as smart camera, drones, and wearable tracking devices.
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AI-based monitoring on cattle helps end user to obtain maximum yield out of the cattle. The integration of cows with intelligent pattern analysis, which uses sensor technology, machine learning, and cloud computing to translate raw data from the field into meaningful information can be used to support decisions made by farmers every day.
As per a report published by the Food & Agriculture Organization of the United Nations, the global milk output in 2018 was estimated at 843 million tons, an increase of 2.2% from 2017. In the dairy industry, the number of milk producing animals is expected to reach 414 million by the year 2030 from 373 million in year 2018. The increase in milk production with the help of artificial intelligence is also likely to drive the livestock monitoring solutions market.
Livestock Monitoring Solutions Market: Prominent Regions
Presently, North America generates the highest revenue in AI in agriculture due to the early integration of new technologies, such as computer vision and ML, for livestock monitoring. The livestock monitoring solutions market in Europe is projected to witness favorable growth during the forecast period, as rise in technology adoption by dairy farmers in the region is significant. In the years to come, the fastest growth in AI in agriculture is likely to be observed in APAC, owing to the rising adoption of agricultural robots and drone analytics and precision farming technologies, primarily in China, India, Thailand, and Indonesia. All these factors are projected to drive the global livestock monitoring solutions market.
Livestock Monitoring Solutions Market: Key Players
Key players operating in the global livestock monitoring solutions market include Cattle Care Inc., Cattle Eye Ltd., Luda.Farm AB, NewVision Security, Onsight247.com, Ranch Eyes, Solutions Technology Group, Wi Vid Wireless Video Cameras.com, LLC, Zoetis Services LLC, and Cainthus.
Global Livestock Monitoring Solutions Market: Segmentation
Livestock Monitoring Solutions Market, by Component
- Hardware
- Cattle Wearable Device
- Smart Camera
- Drone
- Video Analytics Software/Platform
- Services
- Support & Maintenance Services
- Installation & Implementation Services
- Consulting Services
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Livestock Monitoring Solutions Market, by End User
- Cow-Calf Producer
- Feedyard Producer
- Stocker Producer
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