The livestock monitoring market is expected to grow at a CAGR of 18.01% between 2016 and 2022, to reach from USD 285.8 Million in 2015 to USD 952.7 Million by 2022. Major drivers of the market include growing size of dairy farms, increasing focus of major companies on technological advancements along with new product launches, and substantial cost savings associated with livestock monitoring management.
The report covers the livestock monitoring market based on offering, application, species, and geography. The livestock monitoring market based on offering has been classified into hardware, software, and service. Several factors such as standardization of hardware and software systems, enhanced performance of these hardware and software systems, and reduced time and cost associated with livestock monitoring management are encouraging the market, based on offering,. Hardware offering is expected to hold the largest market share during the forecast period.
The livestock monitoring market, based on application, has been classified into milk harvesting management, breeding management, feeding management, heat stress management, animal comfort management, behavior monitoring and control, and other applications. Feeding management application is expected to grow at the highest rate during the forecast period. The high growth of this application is predominantly driven by the rising availability of innovative feeding technologies such as liquid feeding systems and dry feeding systems.
The livestock monitoring market based on species is divided into following categories: cattle, poultry, swine, equine, and others. Manual management of livestock is costly and time consuming. Hardware and software solution enables automatic identification and data capture, which results in accurate and quick tracking and monitoring of livestock. Owing to these advantages, market for cattle monitoring is expected to grow significantly during the forecast period.
The major restraint for the growth of the livestock monitoring market includes the dearth of trained professional. The industry is currently lacking trained professional to cater increasing demand in livestock industry.
- Afimilk Ltd.
- Boumatic, Llc
- Gea Group Ag
- Lely Holding S.À.R.L
- Scr Dairy, Inc. (An Independent Division of Allflex Group)
- Sum-It Computer Systems, Ltd.
- Valley Agriculture Software
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Livestock Monitoring Market, By Offering
8 Livestock Monitoring Market, By Application
9 Livestock Monitoring Market, By Species
10 Livestock Monitoring Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/8kwj5t/livestock
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-livestock-monitoring-market-to-reach-9527-million-by-2022---industry-currently-lacking-trained-professionals-to-cater-increasing-demand---research-and-markets-300394860.html
SOURCE Research and Markets