CHICAGO, Sept. 17, 2021 /PRNewswire/ -- According to the new market research report "Dairy Herd Management Market by Product (Automated Systems (Milking, Feeding/Nutrition Management), Software (Cloud based, AI, Data Analytics)), Application (Breeding, Calf Management, Feeding,), Farm Size (Large, Medium, Small) - Global Forecast to 2026", published by MarketsandMarkets™, the Dairy Herd Management Market is projected to USD 5.4 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 7.9% during the forecast period.
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The increasing herd size of dairy farms and growing consumption of milk and dairy products, increasing public-private funding and investments in dairy farming and technological advancements are the major factors driving the growth of the reproductive health management systems market.
The automated dairy management systems segment is expected to grow at the highest CAGR during the forecast period in 2020.
Based on product, the dairy herd management market is segmented into automated systems and software. Automated dairy management systems accounted for the largest share of the market in 2020. The large share of the automated systems segment is attributed to the increasing preference for automated systems due to their cost and labor efficiency.
Europe was the largest regional market for the dairy herd management market in 2020
The reproductive health management systems market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of World. Europe dominated the global market, followed by North America. The large share of the European market can be attributed to a well-established dairy herd management industry, significant funding for research in dairy herd management, increasing herd size of dairy farms, rapid technological adoption in dairy farms, and the high cost of labor.
However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The increasing demand for milk & milk products due to the rising population, growing disposable incomes, rapid urbanization, and implementation of government initiatives for the development of the dairy farming industry are the major factors driving the growth of the market in the Asia Pacific.
The global dairy herd management market is consolidated. The prominent players operating in this market include DeLaval Inc. (Sweden), Merck & Co., Inc. (US), GEA Group Aktiengesellschaft (Germany), BouMatic (US), and Afimilk Ltd. (Israel).
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