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With the advent of smartphones and applications, data is collected and visualized and plays a pivotal role in data monitoring. Technavio’s market study identifies increasing adoption of smartphones and applications as one of the primary growth factors for IoT market in livestock management. Farmers are depending on the advancement of technologies to monitor the data at remote locations and are attaining maximum productivity. The fast growth of mobile and wireless technology, triggers livestock efficiency and helps business in reducing costs related to food and power. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 12% by 2021.
The use of big data in livestock management will be one of the key trends contributing to the growth of the IoT market in livestock management. Big data is gaining popularity in livestock management. For better wireless in-field communication, functional safety, and repair and maintenance information to realize unified interfaces, Big data is growing in demand in livestock management. Data collected from the observation of animals, grazing fields, environment, digital maps of land surfaces, and automated systems will significantly contribute in planning the livestock management for better productivity.
The IoT market in livestock management is concentrated due to the presence and dominance of few key players such as Cisco Systems, IBM, KaaIoT Technologies, Oracle, and Trimble. Manufacturers and established sellers focus on sales of hardware products like sensors, collars, RFID tags, ear tags, gateways, and routers. The major reasons for stiff competition among the vendors in the IoT market in livestock management are the need for an increase in productivity, and limited grazing lands and water resources. In the recent times, few start-up companies are trying to enter the market and merge with other players for the development of this market.
The leading vendors in the market are-
The other prominent vendors in the market are Afimilk, Allflex, BouMatic, CEMA, eCow Devon, GEA Group, IceRobotics, Libelium, Link Labs, Medria, Nokia Solutions and Networks, OnFarm, ROXAN, SenseGrow, Softweb Solutions, Stellapps, Sum-It Computer Systems, and Valley Agricultural Software.
The hardware segment accounts for the highest market share in terms of revenue in the livestock management IoT market and it is expected to grow progressively during the forecast period. For the improvement in the degree of connectivity between control systems and communication devices, it is essential to adopt wireless connectivity and integrate IoT. Moreover, modernization in software technology, remote monitoring, and cloud computing with the combination of mobile apps, provide information on the livestock management. This will in turn, fuel the market’s growth prospects in the coming years.
The market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to this market throughout the forecast period. With the increasing adoption of hardware and software, the growth momentum is rapid in this region. The development in automatic alerts based on behavior, temperature, weather, and parasite monitoring helps in triggering the demand for the IoT market in livestock management in this region.
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: MARKET SEGMENTATION BY PRODUCT
PART 08: REGIONAL LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: KEY VENDOR ANALYSIS
PART 14: APPENDIX
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