Livestock Monitoring Solutions Market
Livestock Monitoring Solutions Market (Component: Hardware, Video Analytics Software/ Platform, and Services; and End User: Cow-Calf Producer, Feedyard Producer, and Stocker Producer) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
COVID-19 Livestock Monitoring Solutions Help Contain Spread of Infection
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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Livestock owners are opting for IoT sensors in cattle tracking systems to prevent economic losses amidst volatile supply and demand for farm products during the current coronavirus pandemic. Precision farming is helping livestock owners to make data-driven decisions pertaining to natural breeding. However, data analytics alone is not enough for maximizing productivity and profitability at livestock farms. Hence, companies in the livestock monitoring solutions market should gain proficiency in powerful data analytics capabilities with the help of AI and deep learning to provide actionable insights to livestock owners. Automated IoT devices are being extensively used to monitor greenhouse gas emissions and water quality factors.
Livestock Monitoring Solutions Market: Overview
- According to a new market report pertaining to the global livestock monitoring solutions market published by Transparency Market Research, the global livestock monitoring solutions market is projected to cross US$ 3.6 Bn by 2030
- The livestock monitoring solutions market is projected to expand at a CAGR of ~16% from 2020 to 2030
Livestock Monitoring Solutions: Market Drivers
- Rising Focus on Improving Animal Health and Productivity: AI-based monitoring on cattle helps the end user to obtain maximum yield out of the cattle. 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. According to a report by the European Commission, such platforms will help farmers increase productivity per animal by more than 22%. As per a report published by the Food & Agriculture Organization of the United Nations, global milk output in 2018 was estimated at 843 million tons, an increase of 2.2% from 2017. Milk is an important nutrient globally as more than 6 billion people around the world consume milk and milk products. In the dairy industry, the number of milk producing animals is projected to reach 414 million by the year 2030 from 373 million in year 2018. The increase in the production of milk with the help of artificial intelligence is projected to drive the livestock monitoring solutions market.
- Technological Advancements in Video Surveillance Systems: AI-enabled chip and sensor technology, mobile application mapping veterinary services, and drones fitted with thermal sensing have revolutionized the way livestock farmers monitor and protect their animals. The chip monitors vital information about the animal, including temperature variations, feeding patterns, and reproductive stages through the smart sensor, and is able to detect diseases 48 hours before they manifest, allowing for timely medical attention. This is likely to play an important role in the livestock monitoring solutions market. The health-related information for each animal is synced and stored in a cloud platform (IBM Watson, Microsoft Azure). AI, by processing the data stored on cloud provides recommendations to farmers on how to keep their cows healthy and improve the efficiency of their farms. Drones mounted with thermal cameras collects animal data and sends it to cloud servers. The smart camera system collects video data onsite, which is then used for supervised training. This has reduced the burden regarding health of farm animals. AI-based surveillance has helped many beef breeding farmers to remain competitive into the market and boost farm productivity by monitoring health, nutrition, and reproduction of the livestock. The increase in farm productivity with the help of artificial intelligence and machine learning is expected to drive the livestock monitoring solutions market.
Livestock Monitoring Solutions: Market Segmentation
- The global livestock monitoring solutions market has been segmented in terms of component and end user. Based on component, the livestock monitoring solutions market has been divided into hardware (cattle wearable device, smart camera, and drone), video analytics software/platform, and services (support & maintenance services, installation & implementation services, and consulting services).
- In terms of end user, the global livestock monitoring solutions market has been categorized into cow-calf producer, feedyard producer, and stocker producer
Livestock Monitoring Solutions Market: Regional Outlook
- The global livestock monitoring solutions market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Initially, vendors across the ecosystem of livestock monitoring solutions were analyzed based on device and technology providers in the market.
- North America is expected to dominate the livestock monitoring solutions market during the forecast period. This market in Asia Pacific is projected to experience growth. The market in Europe, South America, and Middle East & Africa is also likely to expand rapidly during the forecast period.
- The report provides in-depth segment analysis of the global livestock monitoring solutions market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of the geographic analysis of the livestock monitoring solutions market.
Livestock Monitoring Solutions Market: Competition Dynamics
- The research study includes profiles of leading companies operating in the global livestock monitoring solutions market
- Key players profiled in the report include
- Cattle Care Inc.
- Cattle Eye Ltd.
- Luda.Farm AB
- NewVision Security
- Ranch Eyes
- Solutions Technology Group
- Wi Vid Wireless Video Cameras.com,LLC
- Zoetis Services LLC
Livestock Monitoring Solutions Market – Scope of the Report
A new study on the global livestock monitoring solutions market was published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the livestock monitoring solutions market. TMR’s study offers valuable information about the livestock monitoring solutions market, to illustrate how growth will discern during the forecast period, 2020-2030.
Key indicators of market growth, which include value chain as well as supply chain analysis, and Compound Annual Growth Rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the livestock monitoring solutions market during the forecast period.
An extensive analysis on leading market players’ business strategies has been featured in TMR’s study on the livestock monitoring solutions market. This can help readers understand principal factors to foresee growth in the livestock monitoring solutions market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the livestock monitoring solutions market, which will guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Livestock Monitoring Solutions Market Study
- What is the scope of growth of livestock monitoring solutions providing companies across the globe?
- What will be the Y-o-Y growth of the livestock monitoring solutions market between 2020 and 2030?
- What is the influence of the changing trends in technologies on the livestock monitoring solutions market?
- Will North America continue to dominate the market for livestock monitoring solutions?
- Which factors will impede the growth of the livestock monitoring solutions market during the forecast period?
- Which are the leading companies in the global livestock monitoring solutions market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the livestock monitoring solutions market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the livestock monitoring solutions market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the livestock monitoring solutions market, as a primary source.
These primary and secondary sources provided exclusive information during the interviews, which serves as a validation from livestock monitoring solutions industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the livestock monitoring solutions market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the livestock monitoring solutions market more reliable and accurate.
Livestock Monitoring Solutions Market – Segmentation
TMR’s study on the livestock monitoring solutions market includes information divided into three sections ? component, end user, and region. Changing industry trends and other crucial market dynamics associated with these sections of the livestock monitoring solutions market have been discussed in detail.