Livestock Monitoring Market to Reach USD 1006.7 Million by 2028

Due to the COVID-19 pandemic, the global Livestock Monitoring market size is estimated to be worth USD 562.1 Million in 2022 and is forecast to be a readjusted size of USD 1006.7 Million by 2028 with a CAGR of 10.2% during the review period.

Some of the major factors driving the Livestock Monitoring market growth include a growing focus on real-time monitoring and early disease detection, growing adoption of IoT and AI for livestock monitoring, the covid-19 outbreak, rising demand for meat globally, and cost savings achieved through the adoption of livestock monitoring solutions.

Due to the rapid rise in the global population, the number of dairies, poultry, and swine farms has increased significantly in recent years to meet the growing demand for meat and dairy products.

The ever-increasing number of dairy cattle to meet the global demand for dairy products such as butter, cheese, curd, and yogurt is largely to blame for the rising demand for livestock monitoring solutions. Similarly, increased meat consumption has resulted to the growth. As the size of a dairy farm's herd grows, manually identifying and monitoring the herd becomes more difficult. As a result, the growing size of livestock farms provides opportunities for the livestock monitoring market to expand.