What is Precision Livestock?
Precision livestock is a set of farming practices, including the use of advanced technologies, to deliver better results in livestock farming. Smart livestock farming aims to achieve more productive, efficient, and sustainable farm operations based on the effective use of digital technologies. The largest potential lies in individual animal monitoring and analysis, which is referred to as precision livestock farming (PLF). The demand for precision livestock increase in demand from society.
The market study is broken down by Type (Milking Robotics Systems, Precision Feeding Systems, Livestock Identification, Monitoring and Tracking Systems and Poultry Monitoring and Robotic Systems), by Application (Milk Harvesting, Feeding Management, Livestock Health and Behaviour Monitoring and Others) and major geographies with country level break-up.
The market of Precision Livestock is expected to grow with rising demand for digital farming. Several companies are operating in the market to provide Precision Livestock technology with number of unique features. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lely International (Netherlands), DeLaval (Sweden), Fullwood Packo (United Kingdom), Allflex (Israel), GEA Farm Technology (Germany), Afimlik (Israel), BouMatic (United States), Dairymaster (Ireland) and Fancom (Netherlands) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Precision Livestock market by Type, Application and Region.
On the basis of geography, the market of Precision Livestock has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Hardware will boost the Precision Livestock market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In July 2020, DeLaval has acquired milkrite | Intepuls. It is renowned company of United Kingdom. It provides milking point solutions to dairy farmers. This acquisition will enhance the product portfolio of DeLaval and strengthen its market presence.
Market Trend
- Growing Preference Advanced Farming over Traditional Farming
Market Drivers
- Growing Technological Advancement in Farming Has Created Demand
- Increasing Adoptions for Digital Farming
Opportunities
- Growing adoption of livestock monitoring technology in Emerging Countries
Restraints
- Limited Awareness regarding Precision Farming in Middle East and Africa
Challenges
- Stringent Government Regulations
Key Target Audience
Precision Livestock Providers, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.