Precision Livestock Farming Market Worth $ 5.43 Billion, Globally, by 2027 at 8.81% CAGR: Verified Market Research

Precision Livestock Farming Market Worth $ 5.43 Billion, Globally, by 2027 at 8.81% CAGR: Verified Market Research

PR Newswire

JERSEY CITY, N.J., Dec. 14, 2020

Rising demand for dairy products, growing preference for protein-rich food, increase in consumption of animal-based protein, increasing global population are primarily driving the market

JERSEY CITY, N.J., Dec. 14, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Precision Livestock Farming Market by offering (Hardware, Software, and Services), By Technology (Milking Robots, Precision Feeding Systems, and Identification & Tracking), By Application (Milk Harvesting, Feeding Management, Livestock Health and Behavior Monitoring), and Geography". According to Verified Market Research, the Global Precision Livestock Farming Market was valued at USD 3.01 billion in 2020 and is projected to reach USD 5.43 billion by 2027, growing at a CAGR of 8.81% from 2021 to 2027.

Precision Livestock Farming Market

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202 - Pages
126 – Tables
37 – Figures

Global Precision Livestock Farming Market Overview

The global precision livestock farming is predominantly driven by the rising demand for dairy products, along with the growing preference for protein-rich food. The increase in consumption of animal-based protein across the globe, coupled with the booming global population, is leading to the growth of innovative precision livestock farming technologies. Also, farmers are frequently focusing on increasing the overall quantity of the product by selecting the latest livestock improvement processes. The growing preference for automated milk harvesting systems and the mounting use of precision feeding system is supposed to drive the growth of the precision livestock farming market. Innovative technologies such as cloud computing and the Internet of Things are anticipated to leverage the growth and incorporate more robots and simulated data in farming. The purpose of big data in livestock monitoring is one of the principal trends being witnessed in the precision livestock farming market. Furthermore, big data inaccuracy livestock farming provides various opportunities in increasing feed efficiency and benchmarking.

The major players in the market are DeLaval (Sweden), Allflex (Israel), GEA Farm Technology (Germany), Afimlik (Israel), BouMatic (US), Lely International (Netherlands), Dairymaster (Ireland), Livestock Improvement Corporation (New Zealand), Fancom (Netherlands), Fullwood Packo (UK)

Verified Market Research has segmented the Global Precision Livestock Farming Market On the basis of Type, End-User, and Geography.

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