IoT in Livestock Management Market Scope
IoT can be used in livestock management or precision livestock management to track and check the health of livestock. Individually checking animals for symptoms of sickness or illness is a traditional approach to livestock monitoring. This approach is both expensive and unreliable. IoT in livestock management aims to overcome these challenges. Battery-powered sensors monitor the location, temperature, blood pressure, and heart rate of animals and wirelessly relay the data in near-real-time to farmers' devices via IoT-enabled livestock management utilizing a wearable collar or tag. Farmers can now check on the health and position of each individual animal in their herd from anywhere, as well as receive notifications if something is out of the ordinary. North America is the largest market for IoT livestock management followed by the Asia Pacific.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Semtech Corporation (United States), Ceres Tag (Australia), GEA Farm Technologies (Germany), Telit (United Kingdom), Cavli Wireless (United States), Deere & Company (United States), Trimble Inc. (United States) and Raven Industries (United States) |
CAGR | 20.3% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global IoT in Livestock Management market throughout the predicted period.
Semtech Corporation (United States), Ceres Tag (Australia), GEA Farm Technologies (Germany), Telit (United Kingdom), Cavli Wireless (United States), Deere & Company (United States), Trimble Inc. (United States) and Raven Industries (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Merck (United States) and Ponsse (Finland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global IoT in Livestock Management market by Type , by Application (Health Monitoring, Behaviour Monitoring, Feeding Management, Location Tracking and Others) and Region with country level break-up.
On the basis of geography, the market of IoT in Livestock Management 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). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2021 Semtech Corporation, a leading provider of high-performance analog and mixed-signal semiconductors as well as advanced algorithms, and SAS, a leader in massively parallel analytics and AI, announced a collaboration to deliver innovative Edge-to-Cloud IoT solutions that accelerate intelligent decisions for a smarter, safer world. The end-to-end solutions, which combine LoRaWAN connection with the industry-leading SAS IoT analytics platform, will make it easier to design IoT solutions that address some of the world's most pressing issues, such as natural disasters, hunger, and sustainability.
Influencing Trend:
Increasing Innovation to Collect More Information With IoT in Livestock Management
Market Growth Drivers:
Need To Cost-Effectively Monitor the Health of Livestock and Increasing Livestock Farming Across the Globe
Challenges:
Initial Set-Up of IoT in Livestock Management Could Be Complex and High Cost of IoT Sensors
Restraints:
Lack Of Awareness Among Farmers About IoT in Livestock Management
Opportunities:
Government Incentives to Promote Livestock Farming Will Boost the Demand of IoT in Livestock Management and Adoption Of 5G In IoT Will Increase Its Functions and Ultimately Its Demand
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, IoT in Livestock Management Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others