Precision Livestock Farming Market Analysis, Size, Share, Growth, Report, Forecast 2023-2028

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

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• Historical Market Size (2020): 3.1 billion USD
• Forecast CAGR (2023-2028): 9.50 %
• Forecast Market Size (2026): 5.3 billion USD

The global market for precision livestock farming is basically being driven by the rise of technology like the Internet of Things (IoT) and computerised reasoning (AI) in pretty much every area. The interest in cutting-edge innovations like robotics and computerization in livestock boards is increasing because of the expanding interest in upgraded efficiency, further developed ranch executives, decreased work and functional expenses, and the capacity to drive ongoing information for better navigation. This is increasing the market development of precision livestock farming.

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Industry Definition and Major Segments

Precision livestock farming (PLF) is characterized as a strategy used to oversee and screen individual animals more intently, utilizing ongoing information to upscale activities and keep up with animal wellbeing.

On the Basis of region, the market can be divided into:

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa

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On the basis of technology, the market can be divided into:

• Milking Robots
• Precision Feeding Systems
• Identification and Tracking

Based on applications, the market is categorised into:

• Milk Harvesting
• Livestock Health and Behaviour Monitoring
• Feeding Management and others

Market Trends

The development of the global market for precision livestock farming is projected to be driven by the developing total populace and the resultant expanded interest in meat and eggs from different nations. To get the food supplies for the developing total populace, livestock ranches are expanding and progressing as far as the executives are concerned, with more animals per worker than would be considered normal to increase the interest in technology to support the administration of livestock.

This is relied upon to support the market development of precision livestock farming. Besides, precision livestock farming takes into consideration straightforwardness with respect to the technique for activity amid rising worries regarding animal government assistance, which is further upgrading the market development.

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