Precision Livestock Farming Market
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The precision livestock farming market is expected to grow at a CAGR 8.57% rate during the forecast period. Factors such as 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 market.
Milking robots are expected to hold the largest market share from 2019 to 2024. The advent of connected and autonomous milking robots on dairy farms owing to substantial labor cost saving associated with it is a major reason for the high adoption of milking robots. Milking robots offer substantial cost advantage over traditional and conventional milking techniques. Furthermore, traditional techniques are unsuitable for large, commercial dairy farming operations. A sustained increase in the demand for high-quality dairy products is expected to increase the adoption of milking robots across the globe.
Milk harvesting application is expected to hold the largest market share from 2019 to 2024. Several factors such as the increasing preference for automated milk harvesting systems, the focus of farmers towards increasing the milk yield, and growing demand for dairy products are driving the market growth. Automated milk harvesting reduces labor cost, increases milking efficiency, and leads to higher milk yields.
Europe to hold the largest market size between 2019 and 2024 owing to widespread automation of livestock farms in Western Europe. Increasing herd size, rising labor cost due to a severe shortage of labor force are the major factors for the high adoption of livestock technology in this region.
Key players in the market includes DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France), Dairy Master (Ireland), Afimilk (Israel), BouMatic (US), Fancom B.V. (Netherlands), Fullwood Paco Ltd. (UK), Waikato Milking System (New Zealand), HokoFarm-Group (Netherlands), Trioliet B.V (Netherlands), among others.
Key Questions Addressed by the Report
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming industry applications of precision livestock farming?
- Who are the important players in the market?
- What are the upcoming products and technologies in the market?
- What are the major drivers, restraints, opportunities, and challenges for the market?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Precision Livestock Farming Market, By Application
Livestock behaviour and health monitoring
6. Precision Livestock Farming Market, By Technology
Precision feeding systems
Livestock identification and tracking
7. Precision Livestock Farming Market, By Offering
8. Precision Livestock Farming Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
9. Company Profiles
Lely International N.V.
Waikato Milking Systems Lp
GEA Farm Technology
Fullwood Packo. Ltd.
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