Livestock farming involves rearing of animals such as cattle, poultry and fish commercially. Livestock monitoring involves tracking various parameters of livestock such as location, health, behavior and performance. Precision livestock farming utilizes emerging technologies such as IoT, GPS and RFID for monitoring livestock. There is increased adoption of real-time monitoring solutions among livestock farmers to improve farm efficiency and animal welfare.

The global livestock monitoring market is estimated to be valued at US$ 5.2 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising adoption of precision livestock farming is a major driver fueling growth of the global livestock monitoring market over the forecast period. Precision livestock farming enables livestock farmers to monitor health, productivity, behavioral patterns and location of livestock herd through integrated technology solutions. This helps farmers to take well informed decisions regarding livestock management and healthcare which improves farm efficiency. Furthermore, growing focus of farmers as well as governments globally towards animal welfare is also expected to boost demand for livestock monitoring solutions over the next few years. Precision farming enables early disease detection in livestock and provides real-time alerts to take timely medical intervention which ensures wellbeing of animals.

SWOT Analysis

Strength: Precision Farming enable farmers to maximize the productivity and profitably while reducing input costs. Livestock monitoring solutions provide actionable insights through centralized data analysis which helps farmers to improve livestock health and livestock management. Remote connectivity provide real-time visibility of livestock assets for farmers.

Weakness: High initial investment and maintenance costs associated with livestock monitoring solutions restrict adoption rate among small-scale farmers in developing regions. Lack of proper infrastructure and technical skills in under developed regions pose challenges for effective implementation of livestock monitoring systems.

Opportunity: Growing demand for protein rich food and animal-derived products is driving mechanization and automation in livestock farming. Emerging technologies such as IoT, AI and cloud computing provides opportunities to develop advanced livestock monitoring solutions. Growing concerns over livestock health and disease outbreak management support market growth.

Threats: Data privacy and security threats can compromise sensitive livestock information. Disruptions caused by COVID-19 pandemic and trade conflicts impact growth of livestock industry. Stringent regulations regarding use of technology in animal husbandry poses design challenges for solution providers.

Key players operating in the livestock monitoring market are DeLaval Inc., Fancom BV, GEA Group Aktiengesellschaft, MSD Animal Health, Afimilk Ltd., and BouMatic. These players are focusing on development of advanced monitoring solutions integrated with technologies like IoT, RFID and cloud computing. Livestock monitoring solution providers are targeting regions with large livestock base and growing meat demand such as Southeast Asia and Latin America to expand their geographical footprint.

Key Takeaways

The global livestock monitoring market is expected to witness high growth over the forecast period of 2023 to 2030 supported by growing demand for animal-derived food products. Asia Pacific region is anticipated to register fastest growth in livestock monitoring market owing to rising meat consumption, growing livestock population and increasing adoption of technologies among farmers. Countries like China, India and Japan are dominating the regional market. 

The global livestock monitoring market size for 2023 is estimated at US$ 5.2 Billion. Rising demand for dairy and meat products is driving increased adoption of livestock monitoring and management solutions globally. Livestock monitoring solutions enable precision livestock farming with real-time monitoring of animal health, behavior and productivity. These solutions provide valuable insights to farmers for efficient livestock management.