Livestock Monitoring and Identification Market Size [2022-2029] Industry Trends, Share, Growth, SWOT Analysis, Market Drivers
The global Livestock Monitoring and Identification Market Size is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "Livestock Monitoring and Identification Market Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period [2022 - 2029].
- Fortune Business Insights says that the market value stood at US $ 1545 Million in 2019
- By 2027, the Livestock Monitoring and Identification Market size is expected to reach US $ 3690.4 Million
- The market is expected to grow at a CAGR of 11.6% in the forecast period (2020-2027).
- The growth rate of the Global Livestock Monitoring and Identification Market is 11.6%, with an estimated value of US $ 3690.4 Million million by 2027.
Gather more insights about the market drivers, restrains and growth of the Global Livestock Monitoring and Identification Market
Market Driver:
Rising Cases of Animal Diseases to Spur Demand for Livestock Monitoring and Identification Solutions
The rising population has led to a heavy demand for meat and livestock. The cattle industry's ongoing expansion will subsequently create lucrative opportunities for livestock monitoring in the forthcoming years. However, the threats from pathogens, coupled with the ever-changing environment, have resulted in disease outbreaks in the livestock industry. The increasing number of heat stress, floods, and drought events will further result in the spread of new diseases, emerging as macro-parasites and vector-borne diseases. For instance, in June 2019, farmers and livestock keepers across Asia witnessed the spread of African Swine Fever (ASF) that forced them to slaughter millions of pigs. Besides, the rising environmental concerns in various countries will constrict the livestock monitoring and identification market growth in the foreseeable future.
Spike in COVID Cases to Dampen Business Development
The COVID-19 crisis has reduced the demand for animal products, especially meat and dairy products, across the globe. The restriction imposed by the governments has severely affected the global hotel and catering business, hence dampening market growth. However, new initiatives by governments and private organizations favoring animal health and welfare can simultaneously improve the market prospects in the foreseeable future. For instance, by January 2022, the United States Department of Agriculture (USDA) would not approve metal or other ear tags that do not contain RFID components for animal tracing.
Major companies in Livestock Monitoring and Identification Market Report are:
- HerdX, Inc. (Boerne, Texas)
- Afimilk Agricultural Cooperative Ltd. (Afikim, Israel)
- infsoft GmbH (Ingolstadt, Germany)
- Zee Tags Ltd. (Datamars) (Auckland, New Zealand)
- Quantified AG (Nebraska, United States)
- Allflex (SCR Engineers Ltd.) (Texas, United States)
- BouMatic (Madison, Wisconsin)
- Connecterra B.V. (Amsterdam, The Netherlands)
- ID Tech Solutions Private Limited (Haryana, India)
- Shearwell Australia (East Bendigo, Australia)
- Y-Tex Corporation (Wyoming, United States)
- Dairymaster (County Kerry, Ireland)
- GEA Group (Düsseldorf, Germany)
- DeLaval Inc. (County Kerry, Ireland)
- CowManager B.V. (Harmelen, Netherlands)
- Valley Agricultural Software, Inc. (California, United States)
- Cainthus (Dublin, Ireland)
- Lely International N.V. (Maassluis, the Netherlands)
Pre-Post COVID-19 Impact on Global Livestock Monitoring and Identification Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Livestock Monitoring and Identification Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Livestock Monitoring and Identification Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Livestock Monitoring and Identification Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
FAQ's:
1. How big is Livestock Monitoring and Identification Market?
The global livestock monitoring and identification market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period, to Reach USD 3690.4 Million by 2027, from USD 1545 Million in 2019
2. Who is the market leader in Livestock Monitoring and Identification?
Major Points in Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Livestock Monitoring and Identification Market Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
TOC Continued...!
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