Precision Swine Farming Market Analysis: Emerging Economies Offer Attractive Opportunities in the Market - Global Forecast to 2028
DUBLIN, May 18, 2023 /PRNewswire/ -- The "Precision Swine Farming Market by Application (Feeding Management, Swine Identification, and Tracking), Offering (Hardware, Software, and Services), Farm Size (Small Farms, Mid-sized Farms, and Large Farms) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The precision swine farming market is projected to reach USD 711 million by 2028 from USD 418 million by 2023, at a CAGR of 11.2% during the forecast period in terms of value.
The precision swine farming market consists of both offering and applications products, although under offerings hardware and under applications feeding management holds a larger market share.
The demand for precision swine farming is primarily driven by the advancement of technology in the precision swine farming industry, as well as their increased usage in precision swine farming in developing countries.
The major constraints and challenges are the stringent laws imposed, and high upfront cost and marginal return on investment in European region, US and China, which have strict regulations in place regarding the quality and quantity of pork and minimum prices and parameters for their storage and supply and also regulation related to safety and reducing incidence of diseases. Which, in turn, hamper growth of the precision swine farming market.
By application, feeding management holds a significant market share in precision swine farming market
Feeding management has a large market share in precision swine farming because the feeding expenditure and nutrition excretion are being lowered by utilizing the precision feeding methods.
It involves the use of feeding procedures to provide the exact amount of feed with the proper composition to each pig in the herd at the right time, as so feeding expenditure is lowered by 4.6% and also decrease in nitrogen and phosphorus excretion by more than 38%.
By offering, identification tags drive the market due to real time monitoring and early disease detection
Smart collars and ears tags are used for identification tags in precision swine farming which is presently driving the precision swine market as it has many advantages which include real time monitoring, early disease detection, removal of diseased animal from the herd and also reduces the labor etc., which lead to increased profits to the farmers.
South America is anticipated to be the second fastest growing region for precision swine farming market during the forecast period
Geographically, the region is segmented as Brazil, Argentina, and rest of South America. The precision swine market in South America is growing mainly due to increasing pork consumption and adopting the modern swine farming technologies, which reduces the costs, usability and also increased production and also a major part of the production involved in exporting to the China and other Asia Pacific countries.
Premium Insights
- Emerging Economies Offer Attractive Opportunities in the Market
- Hardware Segment and Germany Account for Largest Market Shares in Europe
- Feeding Management Segment to Dominate Market During Forecast Period
- Hardware Segment to Dominate Market During Forecast Period
Market Dynamics
Drivers
- Utilization of Precision Feeding Techniques in Swine Farming
- Surging Labor Costs and Rising Demand for Automation in Swine Industry
- Increasing Focus on Real-Time Monitoring and Early Disease Detection
- Implementation of IoT- and Ai-Enabled Devices for Swine Monitoring
Restraints
- High Upfront Cost and Marginal Return on Investment
- Lack of Technological Awareness Among Swine Farmers
Opportunities
- Increasing Adoption of Swine Monitoring Technology in Emerging Economies
- Increase in Pig Meat Production
Challenges
- Stringent Government Regulations and Trade Barriers
- Environmental Concerns Regarding Swine Production
Industry Trends
Value Chain Analysis
- Research and Product Development
- Manufacturers
- Technology Providers
- System Integrators
- Marketing and Sales
- End-Users
Supply Chain Analysis
- Product Research and Development
- Raw Material Sourcing
- Manufacturers
- Distribution
- End-Users
Technology Analysis
- Iot
- Improving Swine Health Management with Ai-Enabled Soundtalks Wearable Devices
Case Studies
- Nedap: Technology to Monitor Behavior of Pigs
- Fancom: Metrowest Expands Activities in Australian Pig Industry
Company Profiles
Key Players
- Nedap N.V.
- Ctb, Inc.
- Merck & Co. Inc.
- Boehringer Ingelheim Animal Health Usa Inc.
- Guangzhou Yingzi Technology Co, Ltd.
- Hotraco
- Vdl Agrotech Bv
- Acushot Needle Free
- Pulse Needlefree Systems
- Henke Sass Wolf GmbH
- Big Dutchman
- En-Co Software Zrt
- Luda.Farm Ab
- Agco Corporation
- Microfan
Other Players
- Jyga Technologies
- Weda Dammann & Westerkamp GmbH
- Big Herdsman Machinery Co. Ltd
- Pigscale
- Osborne Industries Inc.
- Serket
- Erra Tecniram
- Holscher Leuschner GmbH & Co. Kg
- Asserva
- Trouw Nutrition
For more information about this report visit https://www.researchandmarkets.com/r/nivffe
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