Precision Livestock Farming Market by Product, Application, and Geography - Forecast and Analysis 2020-2024

The precision livestock farming market size has the potential to grow by USD 2.17 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (precision milking robots, precision feeding system, and stable and FMS), geography (Europe, North America, APAC, South America, and MEA), and application (cattle, pigs, poultry, and others). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Afimilk Ltd., Allflex Group, BouMatic, Cargill Inc., Dairymaster, Fullwood Ltd., GEA Group Aktiengesellschaft, Lely International NV, Robert Bosch GmbH, and Tetra Laval International SA.

Market Overview

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Market Competitive Analysis

The market is fragmented. Afimilk Ltd., Allflex Group, and BouMatic are some of the major market participants. A few of the leading precision livestock farming vendors have started using Big Data in livestock monitoring to boost the annual output. These recent developments in precision livestock farming technologies is enabling farmers to monitor the livestock and make well informed real-time decisions. Many international and regional vendors are vying for their share of the market, and players must differentiate themselves to gain vital traction over their peers. Although the growth in preference for protein-based diet globally will offer immense growth opportunities, the maintenance and utilization issues in PLF technologies will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this precision livestock farming market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this precision livestock farming market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Afimilk Ltd.
• Allflex Group
• BouMatic
• Cargill Inc.
• Dairymaster
• Fullwood Ltd.
• GEA Group Aktiengesellschaft
• Lely International NV
• Robert Bosch GmbH
• Tetra Laval International SA

Precision Livestock Farming Market: Segmentation by Geography

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Europe will offer several growth opportunities to market vendors during the forecast period. Focus on different aspects of livestock management, including feed management, illness, heat stress, monitoring of toxin exposure, and similar factors, by the farmers will significantly drive precision livestock farming market growth in this region over the forecast period.

43% of the market's growth will originate from Europe during the forecast period. The UK, Germany, and France are the key markets for precision livestock farming in Europe. Market growth in this region will be slower than the growth of the market in North America and Europe.

Precision Livestock Farming Market: Segmentation by Product

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The precision livestock farming market share growth by the precision milking robots segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the precision livestock farming market size.

Precision Livestock Farming Market: Key Drivers and Trends

Precision livestock farming industry growth is driven by the growing demand for protein-rich food across the globe. The population of individuals whose general diet includes animal protein has increased, considerably fueling the demand for new technology in livestock production. Chicken is the most consumed animal protein, followed by beef and pork. The rise in consumption of animal-based protein worldwide coupled with the booming global population is leading to the development of innovative precision livestock farming technologies. Also, farmers are increasingly focusing on improving the overall quantity of the output by adopting the latest livestock improvement methods. As a result, the precision livestock farming market is expected to record a considerably substantial growth at a CAGR of over 10% during 2020-2024.

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Precision Livestock Farming Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive precision livestock farming market growth during the next five years
• Precise estimation of the precision livestock farming market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the precision livestock farming industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of precision livestock farming market vendors

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