Livestock Monitoring Market Worth $2.5 Billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Feb. 17, 2020 /PRNewswire/ -- According to the new market research report "Livestock Monitoring Market by Offering (Hardware, Software, and Services), Livestock Type (Cattle, Poultry, Swine, Equine), Application (Milk Harvesting, Feeding, Breeding, Behavior Monitoring & Control), Farm Type, Geography - Global Forecast to 2025", published by MarketsandMarkets, the Livestock Monitoring Market is expected to grow from USD 1.5 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 10.9%. The growing focus on livestock monitoring and disease detection, increasing adoption of IoT and AI by dairy farmers, and substantial cost-saving associated with livestock monitoring management are driving the growth of this market. The growing population of cattle with rising dairy farms and growing adoption of livestock monitoring technology in developing countries provide major opportunities for the growth of the livestock monitoring market.

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Software component to witness the highest CAGR during 2020–2025

Key players in the livestock monitoring market are GEA Farm Technologies (Germany), DeLaval (Sweden), Afimilk Ltd. (Israel), BouMatic, LLC (US), Antelliq Corporation (France), Dairymaster Ltd. (Ireland), Lely International NV (Netherlands), Fancom BV (Netherlands), Fullwood Packo Ltd. (UK), and Nedap NV (Netherlands). These players are increasingly adopting growth strategies such as product launches and developments, partnerships, collaborations, agreements, and acquisitions to develop and introduce new technologies and products in the market.

Feeding Management  expected to exhibit the highest CAGR in the Livestock monitoring market from 2020 to 2025

The Livestock Monitoring market for the feeding management application is expected to grow at the highest CAGR from 2020 to 2025. The feeding management application is expected to continue to dominate the livestock monitoring market, in terms of size and growth rate, during the forecast period. This high growth is predominantly driven by the increasing availability of innovative feeding technologies such as liquid feeding systems and dry feeding systems.