Global Precision Livestock Farming Market

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.