Livestock Monitoring Market: By Animal Type (Cattle, Poultry, Swine, Equine, and Others) Component (Hardware, Software, and Services), By Application (Milk Harvesting, Breeding Management, Feeding Management, Animal Health Monitoring & Comfort, Heat Stress, Behaviour Monitoring, and Others) and Geography

Livestock Monitoring Market size was valued at USD 5,982.1 million in 2023 and is poised to grow at a CAGR of 19.8% from 2024 to 2030. Livestock monitoring involves various technologies and systems used to track and manage the health, productivity, and welfare of farm animals. These solutions are crucial for optimizing livestock operations, preventing diseases, and ensuring food safety. The global livestock population has been steadily increasing, with cattle alone numbering over 1.5 billion in 2020, highlighting the importance of effective monitoring systems. The growing demand for animal products, coupled with an increasing focus on animal welfare and sustainable farming practices, drives the livestock monitoring market. Additionally, the emergence of precision livestock farming techniques has significantly boosted the adoption of monitoring technologies.

Advancements in IoT, AI, and sensor technologies contribute to market growth by improving the accuracy and efficiency of monitoring systems. Furthermore, stringent regulations regarding food safety and animal welfare in many countries are expected to increase the demand for livestock monitoring solutions. The market is also benefiting from increased investment in smart farming technologies and a growing trend towards farm automation. Challenges such as the high initial cost of advanced monitoring systems and lack of technical expertise among traditional farmers in some regions may hinder market growth. The North American region held the major market share in 2023 and is expected to dominate the global Livestock Monitoring Market in the forecasted years.

 Livestock Monitoring Market Key Development:

In January 2023, Allflex Livestock Intelligence, a subsidiary of Merck Animal Health, introduced SenseHub Feedlot, a new beef cattle monitoring system. This comprehensive solution uses advanced algorithms designed to:

• Analyze animal behavior patterns in real-time
• Provide insights on cattle well-being and health status
• Optimize feedlot performance by identifying issues early

In November 2023, HerdDogg, a US-based agtech startup, launched its new BioTag™ system, a comprehensive livestock monitoring solution designed to:

• Collect real-time animal biometric data including temperature, activity, and behavior patterns
• Monitor environmental conditions such as temperature, humidity, and air quality
• Track precise location and movement of individual animals within the herd
• Assist ranchers and farmers by providing early alerts for health issues and stress factors
• Demonstrates increased multiplex testing abilities