The North American livestock monitoring system market size is expected to reach USD 210.69 million in 2021. It is expected to grow at a CAGR of 18.5% to reach USD 425.18 million by 2026. It captures 30% of the global market share.
These days, animals are produced intensively and maintained under proper conditions for growth and production within current technological limits. Large number of animals are restrained within a building or stockyard. Since they are prevented from foraging for their own food, the owner of livestock has to cater to all aspects of their husbandry. Thus, management and monitoring related to environment, reproduction, feeding, marketing, transport, health, growth, and quality becomes the responsibility of the farmer. Livestock monitoring systems monitor the entire livestock environment 24/7 and alert the user by text, phone, or email if the system alters from a pre-set parameter for prompt response. In addition, these systems are utilized for monitoring tack rooms, sick animals, and observe animals in the trailer in case of travelling. Currently, livestock monitoring systems market is experiencing gradual adoption of integrated monitoring systems, in which information from databases, sensors, and other knowledge bases are combined, interpreted and analysed. Many systems containing few of the elements of an integrated monitoring system are available commercially for cattle, broiler, swine, and milk production.
Key factors driving the demand for livestock monitoring systems are — increase in size and number of dairy farms, new product launches for livestock management, development of sensors which can gather a wide range of information, and demand for cost savings associated with livestock monitoring & management. Steady growth in sensor technology are making available large amounts of information relevant to monitoring animals and their environment, thereby, their production, health and growth. Steadily growing demand for the large cattle and poultry, advanced techniques are being used to aid the monitoring and tracking of animals. The utilization of systems for weighing and identifying animals is already pronounced worldwide, and it is anticipated that systems for tracking animals, monitoring basic health-related factors such as body temperature and heart rate, and assessing body conformation will witness a high acceptance rate in the future.
Cattle, poultry, and other animals require optimal conditions to stay healthy and maximize their yield. Equipment failures such as circulation fans, ventilation systems, heaters and air conditioners czan endanger their health and can create problems if not handled promptly. Numerous costs involved in the production of the Livestock Monitoring System are depreciation cost, raw material cost, labor cost, and other costs. These are the primary restraints of market growth. The secondary restraint for the growth of the livestock monitoring market are the dearth of trained professional. The industry presently lacks trained professionals to cater to the rising demand for livestock. As per the United States Department of Labour (USDA), employment of dairy farm workers is estimated to decrease by 6% from 2014 to 2024. Likewise, as per a report of the working group on Animal Husbandry & Dairying, Government of India 2014, only 34,500 veterinarians are employed for field services against the requirement of 67,000.
On the basis of geography the market is classified into US, Canada and Mexico. It is second largest in terms of market share and CAGR.
Key market players include Afimilk Ltd. (Israel), BouMatic LLC (U.S.), SCR Dairy, Inc. (Israel) DeLaval(Sweden), GEA Group AG (Germany), and livestock monitoring software and service providers such as DairyMaster (Ireland), SUM-IT Computer Systems, Ltd. (U.K.), and Valley Agriculture Software (U.S.).
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