Precision livestock farming has the use of advanced technology to transform the livestock industry by making traditional livestock farming activities more efficient and economical. Growing demand for dairy products, minimum impact on the environment and climate change, and extended profitability and high yield are propelling the precision livestock farming market growth. Furthermore, government initiatives and subsidiaries are helping farmers to adopt advanced technology to improve yield are also positively impacting the growth of the precision livestock farming market.
MARKET SCOPE
The "Global Precision Livestock Farming Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the precision livestock farming market with detailed market segmentation by offering, application, system type, farm type, and geography. The report provides key statistics on the market status of the leading precision livestock farming market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global precision livestock farming market is segmented into hardware, software, and services.
- On the basis of application, the market is segmented into milk harvesting, feeding management, livestock behavior and health monitoring, and others.
- Based on system type, the market is segmented into milking robots, precision feeding systems, livestock identification and tracking, and others.
- Based on farm type , the market is segmented into swine farms, poultry farms, and dairy farms.
MARKET DYNAMICS
Drivers:
- Growing urbanization and aging populations are a rise in the demand for protein food across the globe that are booming the growth of dairy farming.
- Increasing automation and rising need to improve the efficiency of dairy farming are bolstering the growth of the precision livestock farming market.
- Better management practices, less contamination, and increased production control are the other factors influencing the growth of precision livestock farming market in the upcoming year.
- The increasing preference for automated milk harvesting systems and the rising use of precision feeding system is expected to drive the growth of the precision livestock farming market.
Restraints:
- High initial cost may hinder the growth of the precision livestock farming market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The precision livestock farming market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the precision livestock farming market in these regions.
IMPACT OF COVID-19 ON PRECISION LIVESTOCK FARMING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the precision livestock farming market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from precision livestock farming market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the precision livestock farming market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Afimilk Ltd.
- BouMatic
- DAIRYMASTER
- DeLaval
- EVONIK
- Fancom BV
- GEA Group Aktiengesellschaft
- Lely
- Merck KGaA
- Waikato Milking Systems NZ LP