Global Precision Livestock Farming Market Size By Offering (Hardware, Software, Services), By Technology (Milking Robots, Precision Feeding Systems, Identification And Tracking), By Application (Milk Harvesting, Feeding Management), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Precision Livestock Farming Market Size And Forecast

Precision Livestock Farming Market size was valued at USD 4.18 Billion in 2024 and is projected to reach USD 7.73 Billion by 2031, growing at a CAGR of 8.81% from 2024 to 2031.

The global Precision Livestock Farming Market has witnessed strong growth owing to the rising demand for dairy products, along with the growing preference for protein-rich food and the growing preference for automated milk harvesting systems, and the mounting use of precision feeding systems. The Global Precision Livestock Farming Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Precision Livestock Farming Market Definition

Imagine Precision Livestock Farming as a helping hand on the farm, especially as farms get bigger. It's all about using smart tech to keep a close eye on each animal. The main goal? To boost how well we produce, keep our animals healthy and happy, and be kinder to the environment. You'll see things like precision feeding systems and precision milking robots popping up. And identification & tracking are all part of the game. These cool tech tools help farmers spot things like lameness early on, so they can jump in and help when it matters most.

Think of itthese devices even send farmers updates in real-time, whether it's through email, a quick text message, or even a good old-fashioned voicemail! Automation really makes the most of resources like electricity, water, and feed, plus it helps cut down on labor costs. With larger animals, we're talking monitoring on a per-animal basis. But for others, like poultry, it's more of a flock-level view. Precision livestock farming is all about bringing technology into the livestock world, giving us a chance to farm more sustainably and manage things better overall. This tech lets farmers keep a constant eye on things like feeding, health, and milking. Ultimately, precision livestock farming is where animal sensors and on-the-farm decision-making come together.

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Global Precision Livestock Farming Market Overview

Global precision livestock farming is predominantly driven by the rising demand for dairy products, along with the growing preference for protein-rich food. The increase in consumption of animal-based protein across the globe, coupled with the booming global population, is leading to the growth of innovative precision livestock farming technologies. Also, farmers are frequently focusing on increasing the overall quantity of the product by selecting the latest livestock improvement processes.

The growing preference for automated milk harvesting systems and the mounting use of precision feeding systems is supposed to drive the growth of the Precision Livestock Farming Market. Innovative technologies such as and the are anticipated to leverage the growth and incorporate more robots and simulated data in farming. The purpose of big data in livestock monitoring is one of the principal trends being witnessed in the Precision Livestock Farming Market. Furthermore, inaccuracy livestock farming provides various opportunities in increasing feed efficiency and benchmarking.

But here's the thingthe Precision Livestock Farming Market, even with all its potential, might hit some snags. The hefty price tag is a big one. We're talking serious cash for monitoring tools, those fancy milking robots, IoT modules, sensors, and software to manage the herd. Farmers need to shell out a lot upfront to get these systems running, and that can really affect whether they see a return on their investment. Plus, let's face it, many farmers are already struggling financially and just can't afford these kinds of technologies. On top of all that, livestock farming is heavily regulated in most parts of the world, which adds another layer of complexity.

Dairy regulations? Think of them as the rules of the game, setting boundaries for how much milk and cheese is made, and how good it needs to be. They also dictate the minimum price and how it's all stored and shipped. But here's the kickerthese rules, along with some trade barriers and government programs, can block up-and-coming countries from even getting a seat at the table in these markets. So, tough regulations and trade walls are a major hurdle. The good news? As developing countries embrace new technology, that's opening up some awesome opportunities. And countries like India and China, with their massive populations, are expected to become huge growth spots for things like livestock farming products because everyone's wanting better and more milk, cheese, and chicken.

Global Precision Livestock Farming MarketSegmentation Analysis

The Global Precision Livestock Farming Market is Segmented on the basis of Offering, Technology, Application, and Geography.

Precision Livestock Farming Market, By Offering

  • Hardware
  • Software
  • Services

Based on Offering, the market is bifurcated into Hardware, Software, and Services. The hardware segment is expected to grow at a higher CAGR in the global Precision Livestock Farming Market during the forecast period. The growth of this segment is attributed to the rising adoption of automation & control devices such as robotics components, sensors, , and RFID tags. Progressive farmers in different parts of the world have seen several advantages of precision livestock farming, which has raised the adoption of livestock farming equipment, devices, and other hardware devices.

Precision Livestock Farming Market, By Technology

  • Milking Robots
  • Precision Feeding Systems
  • Identification & Tracking

Based on Technology, the market is bifurcated into , Precision Feeding Systems, and Identification & Tracking. The milking robots segment is expected to grow at a higher CAGR in the global Precision Livestock Farming Market during the forecast period. The growth of this segment is attributed to the increasing adoption of milking robots among dairy farms. In addition, milking robots are proper for commercial and large dairy farming methods as compared to conventional techniques. It offers much labor cost savings over traditional milking techniques.

Precision Livestock Farming Market, By Application

  • Milk Harvesting
  • Feeding Management
  • Livestock Health and Behavior Monitoring
  • Others

So, when we look at how precision livestock farming is used (that's the "Application" part), we can break the market down into things like Milk Harvesting, Feeding Management, keeping an eye on Livestock Health and Behavior, and then just a general "Others" category. Now, the Milk Harvesting part? That's where we expect to see some serious growth in the coming years. Why? Well, we all love our dairy, and farmers are really trying to ramp up how much milk they get from their cows. Plus, everyone's starting to prefer those automated milk harvesting systems – think milking robots! They're popping up on dairy farms everywhere. It's all about cutting down on labor costs, making milking more efficient, and even keeping track of each animal's milking schedule.

Precision Livestock Farming Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world

Looking at different regions, the global market for Precision Livestock Farming breaks down into North America, Europe, Asia Pacific, and everywhere else. Back in 2019, Europe was leading the pack in terms of revenue. Why? Well, they've got big players in the precision livestock farming game like DeLaval, Fancom, Lely International, GEA Farm Technology, and Fullwood Packo. But don't count out the Asia Pacific (APAC) region! It's expected to grow a lot in the coming years. Countries like Australia, New Zealand, and Japan are already embracing this tech, and places like India and China are pouring money into digitizing their livestock farms.

Key Players

The “Global Precision Livestock Farming Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are DeLaval (Sweden), Allflex (Israel), GEA Farm Technology (Germany), Afimlik (Israel), BouMatic (US), Lely International (Netherlands), Dairymaster (Ireland), Livestock Improvement Corporation (New Zealand), Fancom (Netherlands), and Fullwood Packo (UK).

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

  • In March 2021, Milking robot manufacturer and barn Automator Lely is bringing a new milk sampling device to the market, for use in combination with milking robots. The system called ‘Sampler for Lely Astronaut’ has no electronic parts and is remarkably easy to use and maintain.
  • In 2021, Dairymaster the leading hi-tech solutions provider for dairy farming, and Beijing Kingpeng Global Husbandry Technology Co., LTD (KPGH) a high-tech Chinese enterprise specializing in the planning and construction of modern livestock farms and turnkey projects have come together to provide the best technology in the world to Chinese farms.
  • Allflex’s parent business, MSD Animal Health, purchased Quantified Ag (US). Quantified Ag is a data and analytics company that specializes in animal health monitoring. Farmers will have access to both companies’ complimentary products as a result of this merger, which will provide them with real-time information.

Merger & Acquisitions

  • In July 2021, DSM has acquired Midori USA, Inc, a biotechnology start-up with a novel precision platform developing breakthrough targeted eubiotics that improve the health and environmental impact of animals.
  • Milkrite | Intepuls (UK), a well-known company that provides milking point solutions to dairy producers, was acquired by DeLaval. DeLaval’s product portfolio will be expanded, and its market position will be strengthened, as a result of this acquisition.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Base Year

2024

Forecast Period

2024-2031

Historical Period

2021-2023

Unit

Value (USD Billion)

Key Companies Profiled

DeLaval (Sweden), Allflex (Israel), GEA Farm Technology (Germany), Afimlik (Israel), BouMatic (US), Lely International (Netherlands), Dairymaster (Ireland).

Segments Covered

By Offering, By Technology, By Application, And By Geography

Customization Scope

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Research Methodology of Market Research

To kno

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