Precision Livestock Farming - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Precision Livestock Farming market accounted for $2.76 billion in 2018 and is expected to reach $7.17 billion by 2027 growing at a CAGR of 11.2% during the forecast period. Increasing implementation of IoT and AI in dairy ranches, generous cost-sparing related to domesticated animals management and growing requirement for optimization of dairy herds are the key driving factors for the market growth. However, lack of technological knowledge among dairy farmers may hinder market growth.
Precision Livestock Farming (PLF) is a method of managing livestock with the help of continuous real-time information that is obtained through the monitoring, control, and tracking of animals. This technology allows farmers to constantly monitor and carry on livestock operations such as feeding, health, and milking.
Based on the offering, the hardware segment is likely to have a huge demand due to the high acceptance of automation and control devices, such as the robotics component, sensors, and RFID tags. By geography, Europe is going to have a lucrative growth during the forecast period owing to the growing herd size, and increasing labour cost in the countries of this region.
Some of the key players profiled in the Precision Livestock Farming market include Antelliq, Afimilk Ltd, Lely International N.V., Delaval, Dairymaster, GEA Farm Technology, Boumatic LLC, Fullwood Packo Ltd, Fancom B.V., Waikato Milking Systems LP, Hokofarm Group, Allflex, and VDL Agrotech.
• Livestock Identification & Tracking
• Precision Feeding Systems
• Precision Milking Robots
• Feeding Management
• Milk Harvesting
• Livestock Behavior and Health Monitoring
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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