Increasing demand for dairy-related products and the rising trend of automation in the livestock industry are anticipated to drive the demand for Precision Livestock Farming Market in the forecast period, 2023-2027. According to the TechSci Research report, “Precision Livestock Farming Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The global precision livestock farming market is expected to increase at an impressive rate in the forecast period, 2023-2027.
The Important Elements of Precision Livestock Farming Market
To meet the global consumption requirement, farmers are adopting advanced technology and machinery on their farms. Precision livestock farming has facilities that any farmer is looking for their cattle. As per recorded data, modern equipment helps farmers make decisions and increases farm productivity. The rise of the agricultural sector led to an increase in the precision livestock farming market. According to us census board, the world population will increase to 8.6 billion in 2030, and almost 83 million people will increase every year. Thus, the demand for food is expected to grow, and the problem arises that we have limited land on earth. Hence, livestock farming is going robust in the upcoming year, and this positive impact is going to propel the market share of the precision livestock market. Increasing automation trends, government initiatives, and efforts by the market player are the factor that is going to impact the precision livestock farming market.
Due to rapidly growing population needs, better management practices, more control over the process, less labor requirement, and demand for high-quality protein by masses directly impacts, the demand for precision livestock farming has increased across industries. Thus, it is expected that the need for precision livestock farming market is going to grow in the projected year.
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The global precision livestock farming market is segmented based on farm type, system type, and application type.
Based on farm type, the market is divided into dairy farms, swine farms, poultry farms, and others. Dairy farms are expected to hold the largest market share in the forecast period, 2023-2027. Due to more demand for milk-based products by the people, it holds the largest market share.
Based on system type, the market is divided into milking robotics systems, precision feeding systems, livestock identification, monitoring and tracking systems, poultry monitoring and robotic systems, and others. As per estimates, the milking robotics systems will experience the highest market share during the forecast period. Milking robotics systems provide more advantages over conventical methods. Due to its large-scale implementation by farmers to reduce labor costs and time make, this segment holds the largest share.
Based on application type market is divided into milk harvesting, feeding management, livestock health & behavior monitoring, and others. Milk harvesting is expected to account for a significant market share over the next projected years as the farmer are more focused on the milk yield due to the increase in demand for milk products. Besides this, the rising demand for automated milk harvesting systems and milking robots increases the market demand. This application helps farmers increase milk efficiency, reduce labor costs, and record cattle records.
Major operating companies operating in the global Precision Livestock Farming Market are:
- DeLaval Holding AB
- Allflex USA, Inc.
- GEA Group Aktiengesellschaft
- Afimilk Agricultural Cooperative Ltd.
- BouMatic, LLC
- Lely International NV
- Livestock Improvement Corporation
- Fancom BV
- Fullwood Packo SAS
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“The North American region dominates the market, but it is expected that the Asia-Pacific region will gain its dominance over the next year. The number of cattle and calves in the United States is approx. 91.9 million are in inventory and are expected to increase in the upcoming year. That is why the region is dominating the market till 2025. Still, the Asia-pacific region has more developing economies and populations, which increased demand for food. Rising trends in R&D are forcing the market for innovation in the product to gain an advantage over the competition. Different types of machines, sensors, and software are used to trace the farm's activity and suggest better decision-making to farmers. There are restraints in the market due to the cost and technical knowledge about the products; still, drivers are more impactful in recovering the hurdle.
Due to the growing older generation and urbanization, demand for protein food worldwide is rising rapidly and import. Creasing automation trends, Government initiatives and efforts by the market player, better management practices, more control over the process, less labor requirement, and advancement in manufacturing processor is the factor that is expected to propel the global Precision Livestock Farming Market growth till 2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Precision Livestock Farming Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented by Product type (Alkaline Colloidal Silica, Acidic Colloidal Silica, Modified Colloidal Silica and Ordinary Colloidal Silica) by Application type (Refractories, Precision Investment Casting, Catalysts, Batteries, Others) by End User Industry(into Pharmaceuticals, Construction, Pulp & Paper, Paints & Coatings, Electronics & Semiconductors, Automotive)”, has evaluated the future growth potential of global precision livestock farming market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global precision livestock farming market.
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