Technavio analysts forecast the global precision livestock farming market to grow at a CAGR of over 16% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global precision livestock farming market for the period 2018-2022. (Graphic: Business Wire)
The use of big data in livestock monitoring is one of the major trends being witnessed in the global precision livestock farming market 2018-2022. The use of Big Data is gaining traction across many industries, one of which is the livestock farming market. This is mainly because smart dairy farms are increasingly replacing workers in livestock production units with robots. Robots are performing activities like feeding cows, cleaning, and milking activities. Big Data in livestock farming provides various opportunities in benchmarking, boosting feed efficiency, and others.
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According to Technavio analysts, one of the key factors contributing to the growth of the global precision livestock farming market is the growth in preference for protein-based diet globally:
Global precision livestock farming market: Growth in preference for protein-based diet globally
The consumption of animal protein in the general diet of individuals has increased dramatically. One of the most consumed forms of animal protein is chicken, followed by beef and pork. The rise in the consumption of animal-based protein along with the growth in population has increased the pressure on livestock farmers to cater to these demands.
According to a senior analyst at Technavio, “Farmers are increasingly focusing on improving the overall quantity of the output, and thus, are adopting precision livestock farming methods. The use of precision livestock farming methods not only helps farmers in meeting global demand for meat-based products, but also helps in ensuring increased availability of various dairy products like cheese, cream, and others.”
Global precision livestock farming market: Segmentation analysis
The global precision livestock farming market research report provides market segmentation by product (precision milking robots, precision feeding systems, and stable and FMS) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for more than 48% share, followed by APAC and the Americas. Although EMEA accounted for the largest market share, APAC is expected to be the fastest growing region during the forecast period. Increasing demand for meat-based products from consumers in China and Australia has encouraged the farmers to focus on various aspects of livestock management.
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Market Landscape
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- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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- Competitive scenario
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