Livestock Monitoring Market Size, Share, Opportunities, And Trends By Product (Hardware, Software), By Animal Types (Cattles, Poultry, Swine, Others), And By Geography - Forecasts From 2023 To 2028

Market Overview:

Livestock management, also known as livestock monitoring or precision livestock farming, analyses and monitors the health of livestock, most commonly cattle, using IoT-enabled sensors. Due to the growing size of the livestock industry, keeping track of farm animals and other livestock is critical. According to the Food and Agricultural Organisation (FAO), livestock accounts for 40% of worldwide agricultural output and provides livelihoods, food, and nutrition security for about 1.3 billion people. Simultaneously, there is a significant opportunity to enhance livestock management so that they are more sustainable, and equitable, and pose less risk to animal and human health.

Growth factors:

• The increasing number of livestock

The global demand for and production of cattle products is continuously expanding. Increasing incomes, changing cuisines, and population expansion have increased demand for livestock, making it one of the fastest expanding agricultural sub-sectors in middle- and low-income countries. For instance, England's overall number of sheep and lambs increased by 2.0% in 2022, reaching 14.9 million. The female breeding flock grew by 2.9% to 7.1 million, while lambs grew by 1.5% to 7.5 million (Source: gov.uk). This represents a significant opportunity for livestock management across the whole livestock supply chain.

• Health monitoring in livestock

Health dangers are on the rise. Changes in climate and land use, unsustainable farming practices, globalization, and the wildlife trade all present various chances for viruses to develop into novel forms, increasing the frequency and intensity of spillover events from animals to people. Africa is experiencing an increased risk of zoonotic pathogen outbreaks, such as the monkeypox virus, which originated in animals before switching species and infecting humans. According to World Health Organization (WHO) data, the number of zoonotic outbreaks in the region increased by 63% between 2012 to 2022 (Source: afro.who.int). As a result, the demand for livestock monitoring solutions has increased in recent years, allowing farmers to track and monitor animal health and respond to disease outbreaks in real-time. 

• Software segment to develop the quickest among others

The software segment is expected to grow at the fastest rate over the forecast period. The software component consists of a set of software packages that can be used to monitor cattle. The user interfaces, features, and functions of these programs are connected. Several industries employ software to make gathering cattle data easier. For instance, the e-Gopala app, which the Indian government introduced in September 2020, is an online digital media that would assist farmers in selecting higher-quality cattle and gaining independence from middlemen. This software provides all information about cow care, from production to health and diet. Cattle owners will find it easier to buy and sell animals as a result of this.

Restraints:

Livestock production has a large environmental impact and has the potential to harm the ecosystem. The environment is anticipated to suffer further pressure as demand for livestock products rises. The livestock sector currently emits an estimated 7.1 GT of CO2-equivalent per year, accounting for 14.5% of human-induced greenhouse gas (GHG) emissions (Source: worldbank.org). Improving the efficiency of animal supply chains is critical to minimizing future GHG emissions growth. Growing environmental concerns are predicted to hinder the farming of some species in various places around the world in the future. As a result, market growth is projected to be hampered in the future.

Key Developments:

• October 2022: Merck Animal Health has announced the release of the Allflex DataFlow II System mobile app as part of their livestock intelligence digital product line. Furthermore, the company disclosed many recent technological advancements as part of its continued endeavour to assist dairy producers in better and more efficient cow management. The new Allflex DataFlow II System app allows users to examine data on their phones in real-time, eliminating the need to return to the farm office to retrieve data on a computer.
• February 2022: Semtech Corporation, a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms, announced a partnership with Smart Paddock, an Australian company that provides smart tags for the livestock industry that give producers real-time data. The collaboration includes the integration of Semtech's LoRa devices and the LoRaWAN standard into Smart Paddock's "Bluebell" smart global positioning system (GPS) ear tag to monitor livestock location in real-time and analyzes behavioural data from the cattle to solve real-world livestock management issues.
• January 2022: At NCBA, Zoetis unveiled a broader precision animal health portfolio, including Performance Ranch, new cow-calf management software, and BLOCKYARD, breakthrough blockchain technology. Precision animal health technology combines data insights to help cattle producers make more educated, early decisions to keep their animals healthy and productive. The latest Zoetis solutions, Performance RanchTM, and BLOCKYARD give cattle ranchers the knowledge they need at their fingertips, accessible from any digital device.

COVID-19 Impact

Lockdowns were established in numerous locations during the Covid-19 epidemic, causing supply chain delays. The breakout of the pandemic had a minor impact on key makers of livestock monitoring technologies during the first two quarters of 2020. Due to lockdowns imposed in many places, an imbalance in demand and supply was observed, since enterprises were not operating at full capacity. However, the market gained traction in the fourth quarter of 2020 as a result of the relaxation of lockdowns. Furthermore, the necessity for remote livestock monitoring, labour shortages on farms, and rising labour costs are projected to boost market expansion for livestock monitoring software.

Segmentation:

• By Products
  • Hardware
    • Smart tags
    • Sensors
    • Cameras
    • GPS
    • Others
  • Software
    • on-premise
    • Cloud-based
• By Animal Types
  • Cattles
  • Poultry
  • Swine
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others