Industry Background:
Precision livestock farming is the advanced technologies which made possible by monitoring each individual animal or by statistical analysis. It allows farmers to constantly monitor as well as sustain livestock operations namely feeding, health, and milking. In August 2017, according to an article published by Open Access Government, more than 60 billion animals are slaughtered every year for food production. In addition, demand for animal products is anticipated to increase 75% by 2050 in worldwide. Hence, it will affect the growth of market in future. Ease of livestock management, greater sustainability and higher productivity, augmented animal welfare, as well as government investments in precision livestock farming projects fillers are likely to be a prime driver of the global precision livestock farming market.
According to AMA, the market for Precision Livestock Farming is expected to register a CAGR of 10.1% during the forecast period to 2026. This growth is primarily driven by Growing Preference for Protein-Based Diet Globally and Increasing Usage of Big Data in Livestock Monitoring.
Globally, a noticeable market trend is evident Technology Advancement in Precision livestock farming. The Meat, Poultry & Fish sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France), Dairy Master (Ireland), Afimilk (Israel), BouMatic (United States), Fancom B.V. (Netherlands), Fullwood Paco Ltd. (United Kingdom) and Waikato Milking System (New Zealand) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2019, the Merck Company has acquired Antelliq Corporation to become a leader in emerging digital technology for livestock. Therefore, this acquisition will strengthen the company presence in the precision livestock farming market across the globe.
In June 2018, the DeLaval Company has launched VMS milking system V300. Hence, this launched will increase the product portfolio of the company.
Market Drivers
- Growing Preference for Protein-Based Diet Globally
- Increasing Usage of Big Data in Livestock Monitoring
Market Trend
- Technology Advancement in Precision livestock farming
Restraints
- Stringent Safety Regulation regarding Animals in Stock Farming
Opportunities
Growing Number of Dairy Farms across the world and Rising Demand from Emerging Economics such as India, China and others
Challenges
Continuous Monitoring of Animal Health within the Big Groups of Animals and Increasing Usage of Precision Livestock Farming is Foremost to Health Issues in Livestock
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Precision Livestock Farming Study Sheds Light on
The Precision Livestock Farming Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Precision Livestock Farming industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Precision Livestock Farming industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.