According to Stratistics MRC, the“Global Dairy Herd Management Market” is accounted for $2.75 billion in 2018 and is expected to reach $5.83 billion by 2027 growing at a CAGR of 8.7% during the forecast period. Rising demand for milk & dairy products, supportive government initiatives in the developing countries, and technological advancements are the key driving factors for the market growth. However, campaigns against unethical activities towards dairy animals may hinder market growth. Moreover, rapid urbanization and budding markets are providing ample opportunities for market growth.
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Dairy herd management is a process that determines the productivity and fitness of dairy animals. It includes three key management functions, which are planning, implementation and control.
By Product, the Automated Systems segment is likely to have a huge demand during the forecast period. This is further segmented into Milk Management Systems which is expected to grow at the significant market share due to the fact that milking is one of the chief labour-intensive operations, and the installation of milk management systems has considerably reduced labour hours. On the basis of Application, the Milk Harvesting segment is anticipated to hold considerable market share during the forecast period which is attributed to the focus of farmers towards increasing milk yield while ensuring the health of the dairy animals.
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Based on End User, the Small-scale Dairy Farms segment is expected to grow at the significant market share due to the increasing demand for dairy products and increasing support from for small-scale dairy farmers. By geography, Europe is going to have a lucrative growth during the forecast period due to the presence of a large number of dairy farms.
Some of the key players profiled in the Dairy Herd Management Market include Dairymaster, Farmwizard, Afimilk, Delaval, Waikato Milking Systems, Boumatic, Sum-IT Computer Systems, Farmtec, Trioliet, Fullwood, GEA, SCR, Pearson International, VAS, and Lely.
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