Precision Livestock Farming Market worth $11.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, May 30, 2023 /PRNewswire/ -- The precision livestock farming market is estimated to be USD 6.9 billion in 2023 and is projected to reach USD 11.2 billion by 2028, at a CAGR of 10.2% according to a new report by MarketsandMarkets™. Due to the rising demand for dairy products such as butter, cheese, curd, whey, and yogurt worldwide, the number of cattle is increasing continuously. This growing population of dairy cattle is likely to propel the market for precision livestock farming solutions in the coming years. Precision livestock farming has been gaining momentum across various types of farms owing to rising labor costs and the increasing size of the farms. Rising animal health and safety awareness has resulted in the adoption of precision livestock tracking and monitoring systems across the farms over the last couple of years.

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Precision Livestock Farming Market Report Scope:

Milking robotic systems to hold the largest market share between 2023 and 2028.

A sustained increase in the demand for high-quality dairy products is expected to increase the adoption of milking robots across the globe. Automated Milking Rotary (AMR) is the latest advancement in high-capacity automated milking technology. AMR was first launched by DeLaval (Sweden). AMR is an automatic milking system that provides automatic milking solutions for large dairy farms having large herd size. An AMR system identifies cows and gently guides them to the correct position before the initiation of the cleaning, preparation, and milking processes.

Livestock health and behavior monitoring application is expected to witness the highest growth rate between 2023 and 2028.

Livestock behavior and health monitoring systems are technological solutions that enable the monitoring and analysis of various aspects of animal health and behavior in livestock production systems. These systems typically use sensors, cameras, and other monitoring devices to collect data on animal behavior, physiological parameters, and environmental conditions. The growing use of computerized dairy management systems combined with sensors and other livestock monitoring devices integrated with automated feeding systems or milking robots opens new opportunities for the automatic routine monitoring of livestock behavior and feeding patterns.

Robotics hardware, RFID tags, and sensors are likely to contribute a significant share in the overall precision livestock farming market between 2023 and 2028.

Robotic hardware systems are the most crucial equipment for the smooth functioning of automatic livestock systems. Milking robotic arm devices remain underneath a cow and control the entire milking process. With different types of sensors attached to the robotic arm, measurement is done close to the udder; therefore, these devices are the most accurate in functioning. Rising adoption of low-frequency RFID tags for the identification & tracking of livestock is further propelling the market growth. Radio-frequency identification (RFID) tags help in tracking cattle and other species. They also help in managing the basic health monitoring of livestock such as determining the frequency with which animals visit feeding stations.

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Germany likely to account for the largest share of the precision livestock farming market in Europe during the forecast period.

Germany leads the precision livestock farming industry in Europe in terms of size. Germany held the largest share of the European market in 2022, owing to the high adoption of connected and autonomous livestock farming equipment. The presence of many cattle and other livestock farms and increasing demand for dairy and other livestock-related products are the other factors supporting the market growth in Germany. Ongoing government promotions and support for increasing automation at large to mid-sized livestock farms will facilitate the market's growth. The unavailability of farm labor, government subsidies, and favorable credit policies for livestock farming equipment will boost the demand for precision livestock farming equipment during the forecast period.

The major players in the precision livestock farming companies are DeLaval (Sweden), Allflex Livestock Intelligence (US), GEA Farm Technology (GEA Group) (Germany), Afimilk (Israel), and Lely International (Netherlands).

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