CHICAGO, April 12, 2022 /PRNewswire/ -- According to the new research report, the "Livestock Identification Market by Offering (Hardware, Software, Services), Device Lifecycle (Long, Short), Species (Cattle, Poultry, Swine), and Geography (Americas, Asia Pacific, Europe, Rest of the World) - Global Forecast to 2030", published by MarketsandMarkets, the global Livestock Identification Market is expected to reach USD 3.6 billion by 2030 from an estimated USD 1.6 billion in 2022, at a CAGR of 10.5% from 2022 to 2030. The growth of the livestock identification market can also be attributed to the growing number of livestock population as well as demand for meat products.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132736040
The software offering is projected to grow at the highest CAGR during the forecast period
Managing large herds and species using traditional tools, such as manual tracking and paper-based records, is difficult, labor-intensive, and expensive. These manual techniques cannot meet the requirements of commercial farms with large herd sizes. The use of software enables the recording, storage, retrieval, analysis, and dissemination of information about a large number of cattle. These software systems also enable better management of resources and increase the production efficiency of livestock. Thus, software is likely to be the fastest-growing segment in the livestock identification market in the coming years
The market for swine species is projected to grow at the highest CAGR during the forecast period
Swine or pigs are among the popular import and export items in the agriculture field. According to the USDA Foreign Agricultural Service, the US alone produces about 12% of the world's pork. In 2021, US pork exports surpassed USD 8.1 billion in value, and more than 6.4 billion pounds of pork meat was exported to other markets compared to USD 7.7 billion in value in 2020. Thus, permanent swine or pig identification is obligatory for swine farming, business, and exhibition. Furthermore, the increase in swine export value and volume is likely to result in the highest CAGR of swine species in the livestock identification market during the forecast period.
Browse in-depth TOC on "Livestock Identification Markethttps://www.marketsandmarkets.com/Market-Reports/routing-market-207011132.htmlhttps://www.marketsandmarkets.com/Market-Reports/refrigeration-coolers-market-250448757.html"
155 - Tables
59 - Figures
222 - Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=132736040
Livestock identification market in Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific is projected to be the fastest-growing market during the forecast period. The increasing livestock population and the growing demand for meat products in Asian countries, including China, Australia, India, and New Zealand, contributing to regional market growth. For instance, the cattle population in China and India increased by 5% and 1%, respectively, to reach 96 and 306 million heads in 2021 compared to 91 and 303 million heads in 2020. The cattle population in India accounts for ~31% of the global cattle population in 2021. Moreover, the rising awareness among farm owners regarding the benefits of livestock identification technology, such as easy and fast response, reliability, and cost-efficiency, is estimated to fuel the demand for livestock identification solutions in Asia Pacific.
Allflex Livestock Intelligence (US), Datamars (Switzerland), Nedap N.V. (Netherlands), MS Schippers (Netherlands), Livestock Improvement Corporation (New Zealand), Shearwell Data Ltd. (UK), Leader Products (Australia), CAISLEY International GmbH (Germany), Kupsan Tag Company Ltd. (Turkey), and Luoyang Laipson Information Technology Co., Ltd. (China) are some of the key players in the livestock identification market.
Related Reports:
Livestock Monitoring Market by Livestock Type (Cattle, Poultry, Swine, Equine), Application (Milk Harvesting Management, Heat Detection Monitoring, Feeding Management, Health Monitoring Management), Offering and Geography - Global Forecast to 2030
Precision Livestock Farming Market with COVID-19 Impact Analysis by System Type, Application (Milk Harvesting, Feeding, Health), Offering (Hardware, Software, Services), Farm Type (Dairy, Swine, Poultry), Farm Size, and Geography - Global Forecast to 2025
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/livestock-identification-market.asphttps://www.marketsandmarkets.com/ResearchInsight/weather-forecasting-services-market.asphttps://www.marketsandmarkets.com/ResearchInsight/precision-guided-munition-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/livestock-identification.asphttps://www.marketsandmarkets.com/PressReleases/aircraft-antenna.asphttps://www.marketsandmarkets.com/PressReleases/agricultural-robot.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
