(Entertainment-NewsWire.com, August 23, 2018 ) Live Stock Monitoring System monitors the entire Livestock environment and alert the user by call or a text message if any conditions bounds out of the parameter. So that user can quickly respond based on the circumstances. In addition to that these systems help in monitor sick animals, observe animals kept in trailer in case of travelling. Monitoring and managing of animals related to feeding, reproduction, and health becomes trouble to farmer in managing all at a time.
In the year 2018, Global Livestock Monitoring was valued at USD 582.29 Million. By the year 2023, it is expected to reach USD 1326.5 Million with astonishing pace of 17.9% CAGR.
Drivers and Restraints:
The major driving factors of Livestock Monitoring System market are rise in applications and industrializations. High growth in dairy farm, development of sensors which helps in gathering wide range of information. Increasing concerns over global food security and sustainability has facilitated huge investments. Government investments in monitoring devices. High costs involved in producing of live stocks, high labor cost, raw material cost are the primary restraint of the market. Lack of trained professional is other factor restricting the markets growth.
Based on geography the Market is primarily segmented into Europe, North America, Latin America, Middle East & Africa and North America. European market is likely to command the largest market share. The market in APAC is estimated to grow at a highest rate during the aforementioned forecast period. The European livestock monitoring market is fuelled by various factors such as early adoption of livestock monitoring technologies and technological advancements in this region.
Major companies in the industries of Livestock Monitoring System Market are Afimilk Ltd. (Israel), BouMatic LLC (U.S.), SCR Dairy, Inc. (Israel) DeLaval (Sweden), GEA Group AG (Germany), and livestock monitoring software and service providers such as DairyMaster (Ireland), SUM-IT Computer Systems, Ltd. (U.K.), and Valley Agriculture Software (U.S.).
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