Livestock Identification Market Size, Trends & Growth Opportunity, by Offering (Hardware, Software, Services), Species (Cattle, Poultry, Swine), Technology, Device Lifecycle (Short Period, Long Period), Region and forecast till 2027.

Livestock Identification Market Size, Trends & Growth Opportunity, by Offering (Hardware, Software, Services), Species (Cattle, Poultry, Swine), Technology, Device Lifecycle (Short Period, Long Period), Region and forecast till 2027.

Livestock Identification Market

Animal identification using a means of marking is a process done to identify and track specific animals. It is done for a variety of reasons including verification of ownership, biosecurity control, and tracking for research or agricultural purposes. Livestock identification is another vital facet of livestock farming. Traditionally, cattle were known and monitored manually and confined in farms by building physical fences. However, advanced technologies have created it doable to identify, track, and monitor cattle in real-time.

Drivers: Larger focus of farmers in real-time livestock labeling and monitoring.

Livestock Identification is another important aspect of livestock farming. Traditionally, cattle were identified and monitored manually and confined to farms by the construction of physical fences. However, advanced technologies have made it possible to identify, track and monitor livestock in real time. Advanced real-time technologies such as biometric sensors include non-invasive or invasive sensors that identify and monitor an individual animal's health and behavior in real-time, allowing farmers to integrate this data for population-based analysis. Real-time information from biometric sensors is processed and integrated using big data analysis systems that rely on statistical algorithms to classify large complex data sets and provide farmers with relevant trend patterns and decision support.

Restraints: Less awareness of the benefits of livestock identification systems among ranchers and livestock owners.

Although the livestock identification market is flooded with numerous modern technologies, recognition amongst cattle proprietors stays substantially low, which affects the adoption of virtual gear for herd identity and management. Livestock identity merchandise discover programs in nearly all useful elements of cattle, poultry, and swine farms. However, farmers are frequently not able to perform those structures efficiently. In addition, those cattle identification solutions yield massive volumes of data, that is tough to procedure and understand.

Impact of COVID-19

The world is currently grappling with an economic crisis caused by the outbreak and spread of the COVID19 pandemic. The pandemic has hit various industries including agriculture, automotive, medical, aerospace and defense, manufacturing and logistics. Due to the current situation, the major players in the market are currently focusing on sustaining and generating revenue to be operational. This reduced the number of events including product launches and their proliferation in the cattle identification market in 2020. Various product launches and related developments are planned. postponed due to the spread of the virus. However, it is expected that the effects of COVID19 is referred to during the forecast period.

Segmentation By Offering:

On the basis of Offering, the market is segmented into Hardware, Software and Services. The software segment market is projected to grow at the highest CAGR during the forecast period. Technological advances in the software used in animal handling and identification systems and rapid service innovations are the key factors that have propelled the market in recent years. a growing demand for data analysis and maintenance and support services by animal owners with the rapid advances in animal husbandry technology. In addition, the use of software enables the registration, storage, retrieval, analysis and dissemination of information on a wide variety of livestock. These software systems also enable better resource management and increase the efficiency of animal production.

Segmentation By Device Life Cycle:

By Device life cycle, the market is segmented into short period and long period. The short period to have a major share part in the market during the forecast period.

Segmentation By Species:

By Species the market is segmented into cattle, poultry, swine and others. In 2020, cattle held the largest share of the livestock identification market, and a similar trend is expected to be observed during the forecast period. Manual identification and management of large-sized livestock farms is not only costly but also time-consuming. In dairy farms, hardware and software solutions enable automatic identification and data capture, resulting in effective management and control of movements of livestock species. Owing to these advantages, the cattle segment is expected to capture the largest size of the livestock identification market throughout the forecast period.

Segmentation by Region

Based on region, the NGS services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. APAC will experience the highest CAGR in the livestock tagging market from 2021 to 2026. Rapid population growth in the region's developing countries is putting pressure on suppliers of livestock products to be more efficient and productive, driving sales of livestock solutions. The increasing penetration of IoT-enabled animal identification systems in animal monitoring applications is also driving the growth of this market. Factors driving the adoption of precision farming in APAC include the growing demand for livestock feed products, the increasing need to improve yields with limited resources, and the growing need to protect livestock from unexpected climate changes. The main challenges faced by farmers in this region are high capital requirements, low returns on investment and a lack of knowledge regarding the use of livestock identification technologies.

Competitive Landscape:

Allflex (US), Datamars (Switzerland), Caisley international GMBH, Leader Products, Nedap (Netherlands), are among the major players in the livestock identification market.

Industrial Development:

In June 2021, Allflex announced the launch of a new AWR300 Electronic tag reader. Its robust construction boasts an ingress protection rating of IP67.

In June 2021, LIC announced its agreement with Allflex. LIC Automation product portfolio joined Allflex Livestock Intelligence to divest the automation business.

In June 2021, Datamars acquired HerdInsights, a health monitoring systems provider for the dairy industry, to accelerate and strengthen its livestock performance monitoring capabilities.

In May 2021, Nedap partnered with Waikato, a leading developer and manufacturer of dairy technology, to strengthen dairy farm management and animal care, assure farmers about proper and timely animal care, and provide cutting-edge technology access to dairy farmers.

Market taxonomy

Livestock Identification Market Based on Offering:

• Hardware
• Software
• Services

Livestock Identification Market Based on Device Lifecycle:

• Short Period
• Long Period

Livestock Identification Market Based on Species:

• Cattle
• Poultry
• Swine/Pig
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa