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The RFID tags for livestock management market are estimated to grow at a CAGR of 9.75% between 2022 and 2027. The size of the market is forecast to increase by USD 880.8 million. The growth of the market depends on several factors, including the regulations regarding animal welfare, the emphasis on reducing methane emissions from livestock, and the government regulations on the transition to RFID tags.
This report extensively covers market segmentation by type (cattle, goats and sheep, and others), application (passive and active), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global radio frequency identification RFID tags for livestock management market as a part of the global electronic equipment and instruments market within the overall electronics market. The parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The regulations regarding animal welfare are notably driving the market growth, although factors such as the high cost of active RFID tags may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key RFID Tags For Livestock Management Market Driver
Regulations regarding animal welfare are a major driver fueling the global radio frequency identification tags for livestock management market growth. The number of animals slaughtered for human consumption is rising significantly, but the number of people involved in livestock farming is limited. As a result, livestock production units are operated at overcapacity. Therefore, farmers cannot pay attention to the health and wellness of each animal. Livestock gets affected by severe chronic diseases, which has led to the need for regular monitoring. Diseases such as anthrax and other viral and bacterial infections have been growing rapidly among livestock.
These chronic diseases have led to the need for proper identification and monitoring. The increasing overstocking of animals has compelled several animal welfare organizations to demand regulations on livestock rearing. Animal welfare organizations require livestock owners to measure the nutrient intake of animals to ensure their health. Thus, animal health and welfare are becoming a major areas of concern for governments in various countries. Such factors will increase the market growth during the forecast period.
Significant RFID Tags For Livestock Management Market Trend
Increasing adoption of automation in livestock units is a major trend influencing the global radio frequency identification tags for livestock management market growth. The concentration of skilled workforce is declining in the agriculture and livestock sectors across the world. The population involved in agriculture practices is steadily shifting toward the service sector or urban jobs. As a result, the remaining labor force charges higher-than-average wages. The growing need for labor in the agriculture and livestock industry has further raised the labor cost. In the Americas, stringent immigration rules have further impacted the livestock farming industry as immigrants form a major part of the population employed in livestock farms. Workers in Mexico are shifting from farm jobs to non-farm jobs.
Thus, livestock owners are implementing automation to decrease the amount spent on wages and improve efficiency. Implementation of automation in livestock units is defined as the use of mechanical and electronic equipment to reduce the need for human labor in managing livestock units. Automated equipment is used for carrying out various farm operations, such as automatic identification, feeding, milking, birth detection, egg collection, barn cleaning, and others.
Major RFID Tags For Livestock Management Market Challenge
High cost of active RFID tags is a major hindrance to the global radio frequency identification tags for livestock management market growth. The cost associated with RFID systems depends on the type of tags and the type of readers. Passive tags used for livestock management cost around $0.21, and UFH reader systems can process up to 1,000 tags per second. For businesses such as large-scale livestock companies, active RFID tags are required to manage the livestock on a large scale. The cost of active RFID tags is high. Livestock owners require RFID readers to read information through active RFID tags, which are expensive. A single reader costs up to USD 1,500. Though RFID tags provide many advantages over other identification methods, active tags are more expensive.
Small and medium livestock owners do not have extensive disposable capital to purchase active RFID tags. In addition, the cost of implementing active RFID tags is one of the major challenges. High initial investments are required for the deployment and integration of management solutions (middleware) with active RFID, which affects the profit margins of vendors. This is slowing down the adoption of active RFID systems and is hindering the growth of the global RFID tags market for livestock management. Such factors will hinder market growth during the forecast period.
Key RFID Tags For Livestock Management Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global RFID Tags for Livestock Management Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
allflex.global - The company offers RFID tags such as NLIS Cattle Tags for UltraMatic, Universal, and Identiplier applicators.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The radio frequency identification RFID tags for livestock management market share growth by the cattle segment will be significant during the forecast period. In this segment, the rising investments in cattle farming to boost milk and meat production are increasing the number of livestock across the world. Livestock owners need to manage livestock without any human intervention. This is also leading to increasing demand for automation in managing livestock units using advanced technologies such as RFID, NFC, and others, thereby driving the sales of RFID tags in cattle and is also expected to remain unchanged during the forecast period.
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The cattle segment was valued at USD 472.32 million in 2017 and continue to grow by 2021. The market is growing due to the increasing use of RFID tags in cattle farms across the world. Cattle farms involve the rearing and management of animals for food requirements and other purposes such as plowing and irrigation. Dairy animals, such as buffalos and cows, are cattle that provide milk. Dairy farm management refers to the management of animals with the goal of enhancing the quality and quantity of the milk produced. The period after the birth of a calf, when a cow starts to produce milk, is called lactation. Livestock owners need to improve milk production to meet the requirements of customers or buyers by increasing the lactation period. Thus, to manage both the quality and quantity of the milk produced, farm owners are installing advanced technologies such as RFID, NFC, and barcode tags to manage animals in livestock units. In cattle farming, the RFID tags ensure that the animals are monitored in real-time and maintained following strict hygiene.
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North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the market is expected to be driven by the increasing population of livestock and rising investments in livestock farming. North America has a high concentration of organized livestock farming companies. Farms vary widely based on the number and type of livestock, such as buffalos, sheep, goats, poultry, and pigs. The presence of many livestock animals presents challenges in the form of livestock management, which can be overcome through the adoption of RFID technology. The USDA has also mandated the implementation of RFID for the welfare and management of livestock. Such factors will increase the global radio frequency identification RFID tags for livestock management market growth in this region during the forecast period.
The RFID tags for livestock management market witnessed a slowdown in 2020 owing to the outbreak of COVID-19. However, in 2021, the demand for RFID tags for livestock management rebounded as regional end-user activities resumed due to the initiation of large-scale COVID-19 vaccination drives. These factors are, thus, expected to drive the growth of the regional RFID tags for livestock management market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
RFID Tags For Livestock Management Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.75% |
Market growth 2023-2027 |
USD 880.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.82 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 28% |
Key countries |
US, China, Germany, Russia, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allflex Group, Bartronics India Ltd., CoreRFID Ltd., Dalton Tags, Datamars SA, eAgile Inc., Essen Computers Ltd., GAO RFID Inc., HID Global Corp., Impinj Inc., Ketchum Mfg. Co., Mojix Inc., National Band and Tag Co., NXP Semiconductors NV, Omnia Technologies Pvt. Ltd., RFID Inc., Siemens AG, Tag Factory, Zebra Technologies Corp., and ID Tech Solutions Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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