Dairy Herd Management Market Worth 2.90 Billion USD by 2021
PUNE, India, June 8, 2016 /PRNewswire/ --
According to a new market research report "Dairy Herd Management Market by Product (Hardware (Milk, Fertility, Feeding, & Cattle Management Systems), Software (On-Premise & Web-Based)), Application (Milk Harvesting, Reproduction, Heat Stress, & Calf Management), and Region - Global Forecast to 2021", published by MarketsandMarkets, The market is estimated at USD 1.99 Billion in 2016 and is projected to grow at a CAGR of 7.8% during the forecast period to reach USD 2.90 Billion by 2021.
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Browse 87 market data Tables with 36 Figures spread through 148 Pages and in-depth TOC on "Dairy Herd Management Market"
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This report studies the global dairy herd management market over the forecast period of 2016 to 2021. The report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World.
Based on product, the global dairy herd management market is broadly categorized into hardware & systems and standalone software. The hardware & systems segment includes milk management systems, fertility management systems, feeding management systems, cattle management systems, and accessories; whereas the standalone software segment includes on premise software and web-based/cloud-based software. The hardware & systems segment is estimated to account for the largest share of the dairy herd management market in 2016; this large share is attributed to the rising demand for herd management systems as well as dairy products, increasing preference for automated hardware and systems, technological advancements, and increasing number of dairy cattle globally. The standalone software segment is estimated to grow at the higher CAGR from 2016 to 2021 primarily driven by the growing use of software-enabled recording, storage, retrieval, analysis, and dissemination of information about a large number of dairy animals.
On the basis of application, the global dairy herd management market is segmented into milk harvesting, reproduction management, animal comfort, calf management, feeding management, heat stress management, and other applications (genetic management, cattle sorting, weighing, data analysis, decision support, and financial management). The milk harvesting segment is expected to account for the largest share of the dairy herd management market in 2016. A number of factors such as increasing preference for automated milk harvesting systems, high focus of farmers towards increasing milk yield, and growing demand for dairy products are driving the market growth in this application segment. The reproduction management segment is estimated to grow at the highest CAGR from 2016 to 2021; the high growth in this segment is predominantly driven by the rising availability of innovative reproductive technologies such as artificial insemination (AI) for proper management of cattle in the gestation period.
In 2016, Europe is estimated to account for the largest share of the global dairy herd management market. The increasing number of dairy cows, high efficiency ratio along with positive growth rate of milk production, significant contribution of dairy industry, and large pool of dairy exports in Europe are driving the market growth in the region. The APAC dairy herd management market is expected to witness the highest growth during the forecast period owing to the increasing demand for milk and milk products as a result of the rising population, growing disposable incomes, rapid urbanization, and implementation of government initiatives towards the development of the dairy farming industry.
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The key players in the Dairy Herd Management Market include Afimilk Ltd. (Israel), BouMatic (U.S.), Dairy Master (Ireland), DeLaval (Sweden), GEA Group AG (Germany), Infovet (India), Lely Holdings S.A.R.L (Netherlands), SCR Dairy, Inc. (Israel), Sum-It Computer Systems, Ltd. (U.K.), and Valley Agriculture Software (U.S.)
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