The global RFID tags market for livestock management will grow by USD 984.72 million during 2019-2023. This market report provides a detailed analysis of the market by type (cattle, goats and sheep, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many RFID tags manufacturers, including Allflex Group, Dalton Tags, Datamars SA, Essen Computers Pvt. Ltd., HID Global Corp., Impinj Inc., Ketchum Manufacturing Inc., National Band & Tag Co., Omnia Technologies Pvt. Ltd., and SafeTag.
Key Insights on RFID Tags Market for Livestock Management – Global Forecast 2019-2023
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Industry Overview
Governments across the world are introducing various livestock management programs to encourage livestock owners to adopt RFID tags. For instance, the National Animal Identification System is a government-run program in the US that encourages the use of RFID tags to manage animal health by identifying and tracking specific animals. Similarly, the Kentucky Department of Agriculture (KDA), along with the Kentucky Office of the State Veterinarian recently mandated the use of RDIF tags for cattle and other animals. In addition, the United States Department of Agriculture (USDA) announced that RFID tags will be mandated for beef and dairy cattle and bison moving interstate from January 2023. The increasing number of such government regulations will induce livestock owners to adopt RFID tags for livestock management.
The increasing use of RFID in smart farming applications is one of the key RFID tags market trends that will gain traction. Smart farming uses RFID systems such as RFID tags, RFID readers, and RFID middleware to collect vital information regarding livestock. Smart solutions enable the collection of livestock data such as changes in weight, location, treatment codes, and estimated birth time. Smart applications also manage information such as health records and production processes. The growing popularity of such smart solutions is encouraging many players in the market to launch smart farming applications that enable livestock owners to analyze the behavior of livestock and manage data wirelessly. The increasing adoption of RFID-enabled smart farming applications is creating a strong demand for RFID tags, RFID systems, and RFID middleware. As a result of these factors, the global RFID tags market for livestock management will register a CAGR of nearly 12% during 2019-2023.
Top Companies in RFID Tags Market for Livestock Management
The global market is concentrated. To help clients improve their market positions, this RFID tags market forecast for livestock management provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This RFID tags market analysis for livestock management also includes 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.
The report offers a detailed analysis of several leading RFID tags manufacturers, including:
- Allflex Group
- Dalton Tags
- Datamars SA
- Essen Computers Pvt. Ltd.
- HID Global Corp.
- Impinj Inc.
- Ketchum Manufacturing Inc.
- National Band & Tag Co.
- Omnia Technologies Pvt. Ltd.
- SafeTag
Market Segmentation
RFID Tags Market for Livestock Management by Type
- Cattle
- Goats and sheep
- Others
The cattle segment held the largest market share in 2018. It will account for the highest RFID tags market share over the forecast period. The growing investments in cattle farming such as milk and meat production are increasing the number of livestock across the world. Moreover, the rising adoption of automation in livestock management has increased the demand for advanced technologies such as RFID, NFC, and others. This report provides an accurate prediction of the contribution of all the segments to the growth of the RFID tags market size for livestock management.
RFID Tags Market for Livestock Management by Region
- APAC
- Europe
- MEA
- North America
- South America
In 2018, North America had the largest RFID tags market share for livestock management. However, Europe will emerge as the largest market for RFID tags for livestock management by the end of 2023. Organizations such as the EU are providing financial support to livestock owners to adopt advanced technologies such as RFID, which is driving the demand for RFID tags in the region. Additionally, the launch of new products by market vendors are contributing to the RFID tags market growth in Europe.
Major Highlights of the RFID Tags Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the RFID tags market size for livestock management during the next five years
- Precise estimation of the global RFID tags market size for livestock management and its contribution to the parent market
- Accurate RFID tags market forecast on upcoming trends and changes in consumer behavior
- The growth of the RFID tags industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of RFID tags manufacturers
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