LIVESTOCK MONITORING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Livestock Monitoring Market Analysis:

The Livestock Monitoring market is expected to experience a Compound Annual Growth Rate (CAGR) of 12.67% during the forecast period from 2022 to 2027.

The livestock industry, along with production industries, has been significantly impacted by the COVID-19 pandemic. Government-imposed restrictions aimed at controlling the spread of the virus have had a notable effect on the livestock industry. These restrictions have disrupted the supply chain for animal feed, reduced animal husbandry services, and limited animal health services, including delays in illness detection and treatment. For example, the dairy industry in India has suffered greatly due to the reduced demand of approximately 25–30% in the country during the first month after the lockdown was implemented in March 2020, according to the National Center for Biotechnology Center.

Furthermore, the government’s measures to contain the spread of the virus, such as sealing borders to restrict vehicle mobility, have further hindered the transportation of milk to customers in border regions.

The growth of the market can be attributed to several factors, including the increasing cow population, rising incidences of zoonotic diseases, and the growing adoption of livestock monitoring technologies. Livestock monitoring management offers significant cost-saving benefits, which contributes to its increasing adoption. The global livestock population has been steadily increasing over the past few decades, with countries like India, Brazil, and China accounting for more than 65% of the global cattle inventory in 2021. Additionally, the use of animal monitoring devices has become more prevalent in industrialized nations, enabling real-time monitoring of livestock.

Several key drivers are fueling the expansion of the market. These include a growing emphasis on real-time monitoring and early diagnosis of illnesses, the increasing use of Internet of Things (IoT) and Artificial Intelligence (AI) in livestock monitoring, and the rising global demand for meat.

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