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$4.61 Billion Precision Livestock Farming Market - Global Analysis & Forecast to 2024

DUBLIN, Sept. 2, 2019 /PRNewswire/ -- The "Precision Livestock Farming Market by Functional Process (Climate Control, Water Usage, Feed Dosage, Weight Estimates, Animal Behaviour), Hardware (Camera, Milking Robots, Sensors, Microphones), Application, and Geography - Analysis & Forecast to 2019 - 2024" report has been added to ResearchAndMarkets.com's offering.

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The precision livestock farming market was valued at USD 2.72 billion in 2018 and is expected to reach USD 4.61 billion by 2024, at a CAGR of 9.22% from 2019 to 2024.

Most significant factors driving the growth of the precision livestock farming market are increasing consolidation of livestock farms, increasing herd size of dairy farms, increasing adoption of livestock farming robots and livestock monitoring devices, and increasing labor cost owing to shortage of skilled labor.

Precision livestock farming technology has the potential to transform the livestock sector, making traditional livestock farming activities more efficient and economical. Increasing global demand for dairy products, extended profitability and high yield, and minimum impact on the environment and climate change are fueling the growth of the precision livestock farming market.

Also, government initiatives in the form of incentives in many countries are helping livestock farmers to adopt advanced technological tools to improve yield.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Adoption of IoT and AI in Dairy Farms Increasing Need for Optimization of Dairy Herds Growing Demand for Protein, Food Traceability, and Food Safety Substantial Cost-Saving Associated With Livestock Monitoring Management
5.2.2 Restraints High Initial Investment Lack of Technological Awareness Among Dairy Farmers
5.2.3 Opportunities Increasing Adoption of Livestock Monitoring Technology in Developing Countries Increasing Number of Dairy Farms
5.2.4 Challenges Stringent Regulations and High Trade Barriers Environmental Concern and Global Warming

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Major Market Players in Market
6.3 Industry Trends
6.3.1 Advent of AI and Blockchain in Livestock to Influence Market Expansion
6.3.2 Milking Robots and Feeding Robots to Mitigate Labor Shortage

7 Precision Livestock Farming Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Robotics Component
7.2.2 RFID Tags & Readers
7.2.3 Sensors Temperature Sensor Accelerometer Sensor Motion Sensor Environmental Humidity Sensor Others
7.2.4 Cameras
7.2.5 GPS
7.2.6 Others
7.3 Software
7.3.1 On-Cloud
7.3.2 On-Premise
7.4 Services
7.4.1 System Integration & Deployment
7.4.2 Managed Service
7.4.3 Maintenance and Support

8 Market, By Technology
8.1 Introduction
8.2 Milking Robots
8.2.1 Single-Stall Unit
8.2.2 Multi stall Unit
8.2.3 Automated Milking Rotary
8.3 Precision Feeding Systems
8.4 Livestock Identification & Tracking

9 Market, By Application
9.1 Introduction
9.2 Milk Harvesting
9.3 Feeding Management
9.4 Livestock Behavior and Health Monitoring
9.5 Other Applications

10 Geographic Analysis
10.1 Introduction
10.2 Americas
10.2.1 North America US The US Accounted for the Largest Share of Market in North America Canada High Dairy Farm Operation Cost and Shortage of Skilled Farm Workers Driving Market in Canada Mexico Market in Mexico to Witness Highest CAGR in North America
10.2.2 South America Brazil Brazil Accounted for the Largest Share of the Market in South America Argentina Market in Argentina to Witness Highest Growth in South America Rest of South America
10.3 Europe
10.3.1 Germany Germany Held Largest Share of Market in Europe
10.3.2 Netherland Demand for Precision Livestock Farming Equipment in Netherland Increasing Owing to Shortage of Skilled Labor
10.3.3 UK UK to Witness an Increasing Adoption of Precision Livestock Farming Technologies
10.3.4 France Increasing Adoption of Precision Livestock Farming Equipment to Boost Productivity
10.3.5 Denmark Market in Denmark Expected to Witness Higher Growth in Europe
10.3.6 Sweden High Adoption of Livestock Technology in Sweden
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China China Accounted for Largest Market Share in Asia Pacific Government Incentives and Investments in the Livestock Sector to Boost Market in China
10.4.2 Australia & New Zeland Australia & New Zealand Accounted for Second Largest Market Share in Asia Pacific
10.4.3 Japan Aging Workforce Creating Demand for Milking Robots in Japan
10.4.4 India Market in India Expected to Witness Highest Growth in Asia Pacific
10.4.5 Rest of Asia Pacific
10.5 Rest of World
10.5.1 Africa Weak Exchange Rate in African Countries and Low-Profit Margins are Major Challenges
10.5.2 Middle East Increasing R&D Investments to Boost Adoption of Livestock Farming Robots
10.5.3 Others

11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis for the Market, 2018
11.3 Competitive Situation and Trends
11.4 Competitive Leadership Mapping, 2018
11.5 Strength of Product Portfolio (25 Players)
11.6 Business Strategies Excellence (25 Players)
11.7 Recent Developments

Company Profiles

Key Players

  • Delaval (Subsidiary of Tetra Laval International, S.A.)
  • Antelliq (Subsidiary of Merck & Co., Inc.)
  • GEA Farm Technology (GEA Group AG)
  • Afimilk Ltd.
  • Boumatic, LLC
  • Lely International N.V.
  • Dairymaster
  • Fancom B.V. (Subsidiary of CTB International Corp.)
  • Fullwood Packo. Ltd
  • Waikato Milking Systems LP

Other Players

  • Hokofarm Group
  • Trioliet B.V.
  • VDL Agrotech (VDL Groep)
  • Icerobotics
  • HID Global

Key Innovators

  • Cainthus
  • Connecterra
  • MI Robot Ltd.
  • Farm Control
  • Aleis Pty Ltd.
  • Moocall
  • Cowlar

For more information about this report visit https://www.researchandmarkets.com/r/2yaf1l

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