The global livestock monitoring market was estimated at USD 4.01 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 11.56% from 2024 to 2030. Several key factors are expected to drive this market, including significant technological advancements, rising support initiatives, an increasing focus on preventive livestock monitoring, and the growing consumption of dairy and meat products.

 

Key Drivers

 

The primary catalyst for growth in the livestock monitoring market is the rapid advancement of technology. Innovations such as hands-free monitoring systems, automated technologies, and the integration of Artificial Intelligence (AI) are transforming the landscape of livestock management. For example, in April 2023, Advantech Co. Ltd. introduced a pioneering system that utilizes AI for the early detection and monitoring of health complications in livestock. This advanced system employs AI algorithms and infrared vision technology to accurately measure each cow's body temperature, providing farmers with real-time data to address health concerns proactively.

 

This system not only facilitates daily health scans of farm animals but also generates comprehensive reports accessible to veterinary professionals. By enhancing animal welfare and farm productivity, such technologies contribute to overall food security within communities. Furthermore, the system has the potential for future enhancements, including capabilities to monitor growth rates, feeding practices, and environmental conditions, making it a versatile tool for livestock management.

 

In another notable development, the Universitat Autònoma de Barcelona (UAB) launched a platform called ClearFarm in February 2024, supported by funding from the European Union. This innovative platform employs various sensors strategically installed across farms and on the animals themselves to monitor numerous factors related to livestock behavior, physical and mental health, environmental impact, and productivity. The collected data is analyzed using sophisticated algorithms to provide specific, actionable insights into animal welfare. Farmers benefit from a dedicated website that offers real-time updates on animal health, highlighting critical indicators that allow for early intervention and problem-solving. Additionally, consumers can gain transparency regarding the health history of animal products by scanning QR codes on packaging, directing them to detailed information about the livestock's care and monitoring.

 

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Animal Segmentation Insights

 

In terms of market segmentation, the bovine segment accounted for the largest revenue share, holding 51.2% in 2023, and is anticipated to experience the highest growth rate during the forecast period. This increase in demand for livestock monitoring solutions is largely driven by the rising consumption of beef and dairy products. As public and private organizations impose rigorous standards to ensure the quality and safety of these products, continuous monitoring has become essential. This heightened scrutiny reflects the commitment to preventing disease outbreaks and maintaining high product standards, further propelling the adoption of livestock monitoring technologies.

 

Moreover, the poultry segment is expected to expand significantly during the forecast period. The daily high consumption of poultry products is a crucial factor contributing to the growth of this segment. As consumer awareness regarding the quality of poultry products increases, so does the demand for effective animal health and monitoring solutions. According to the U.S. Census Bureau, the U.S. population is projected to rise from 319 million in 2014 to 417 million by 2060, which will likely lead to an even greater demand for poultry products.

 

Conclusion

 

In summary, the global livestock monitoring market is on a robust growth trajectory, driven by technological innovations, increasing consumer awareness, and a rising focus on food safety and quality. With advancements in monitoring technologies and a growing emphasis on animal welfare, the market is expected to expand significantly across various segments, particularly in bovine and poultry, as the industry adapts to meet the needs of a growing global population.

 

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