Precision Livestock Farming Market is expected to grow to USD 4.8 billion by 2025
The rapid growth of the global precision livestock farming market is attributed to the factors such as the implementation of IoT- and AI-enabled devices for livestock monitoring, surging labor costs and rising demand for automation in the livestock industry, increasing focus on real-time monitoring and early disease detection, and growing demand for protein and dairy products have become the prominent factors for the growth of the precision livestock farming market globally.
The livestock health and behavior monitoring application is expected to witness the highest growth rate in the precision livestock farming market during the forecast period. The livestock health has become extremely important for the various stakeholders in the ecosystem such as farmers, government, food processing companies, research institutes, etc. This is due to the emergence and re-emergence of several diseases among the livestock animals as well as rising consumer awareness with respect to food traceability.
Hardware to hold the largest market size between 2020 and 2025 owing to increasing adoption of hardware devices such as RFID, sensors, smart cameras, and GPS technology on the dairy, swine and poultry farms. The data collected through these devices alert farmers on reproduction, health feeding, and well beings of animals.
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