The global precision livestock farming market size was exhibited at USD 6,090 million in 2024 and is projected to hit around USD 16,528 million by 2034, growing at a CAGR of 10.5% during the forecast period 2024 to 2034.
Precision livestock farming plays a crucial role in animal agriculture. Growing industries like dairy, poultry, and swine are seeking advanced systems to optimize animals. The rising demand for real-time monitoring of animal feeds and health is driving growth in the precision livestock farming market. As farmers require real-time decision-making software, the adoption growth of precision livestock farming management services is increasing. The demand for advanced devices for tracking real-time location, behaviours, and health of animals is the major driver of the market expansion. Additionally, technological advancements like wireless and loT-enabled devices are further fueling market success. The demand for robotic milkers to enhance operations by streamlining daily routine tasks, increasing efficiency, and reducing the need for labor has increased, which is expected to take a spectacular turn in market growth in the future period.
Asia Pacific led the precision livestock market in recent years due to the increased adoption of GPS trackers. India contributed the largest market share with government support for technology adoptions in agriculture. India witnessed spectacular growth in the adoption rate of GPS trackers for animals over the past three years. On the other hand, North America is a driving market with increased adoption of animal feed formulation software in the region.
Published by Yogesh Kulkarni
