[November 22, 2017]

Key Insights on the Global IoT Market in Livestock Management | Technavio

The latest market research report by Technavio on global IoT market in livestock management predicts a CAGR of more than 12% during the period 2017-2021.

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Technavio has published a new report on the global IoT market in livestock management from 2017-2021. (Graphic: Business Wire)

The report segments the global IoT market in livestock management by application (milk harvesting, health and wellness, feeding, and breeding), by product (hardware, software, and services), and by geography (EMEA, the Americas, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global IoT market in livestock management, according to Technavio industrial automation researchers:

• Decline in the price of sensors: a major market driver
• In 2016, the milk harvesting application accounted for a major share of around 32% in the global IoT market in livestock management.
• EMEA dominated the global IoT market in livestock management in 2016 and accounted for a share of more than 45%
• Cisco (News - Alert) Systems, IBM, KaaIoT Technologies, Oracle, and Trimble are the major players in the market

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Decline in the price of sensors: a major market driver

Te decline in the price of sensors is one of the major factors driving the global IoT market in livestock management. There is an increase in the adoption of sensors in the market. This increase is primarily because of the decreasing costs. The installation takes less time and costs less due to technical advances and easy assembling options provided by sensor manufactures. The cost of sensors has been decreasing continuously. This indicates the increase in competition among hardware providers. The reduction in the cost of sensors has increased the deployment of sensors for monitoring cattle movement, which is further fueling the market growth.

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Milk harvesting: largest application segment

The milk harvesting application is driving the IoT market in livestock management. Radio Frequency Identification (RFID) sensors play an important role in improving the milk yield by monitoring the livestock activities. The development of mobile devices, mobile apps, and other smart monitoring devices plays an important role in connecting with the livestock at regular intervals of time. Dairy operations are providing maximum profit for farmers, and the adoption of IoT in livestock management is increasing the efficiency as the process is streamlined.

According to Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for research on automation, "The increasing population and the maximum productivity demand have given rise to the adoption of IoT. The data gathered is automated. This helps farmers to attain maximum yield as IoT helps in providing necessary steps for milk harvesting management. Highly populated developing countries like China, India, Brazil, and Indonesia will be the major customers of IoT for livestock management."

Competitive vendor landscape

Leading IoT vendors such as Cisco Systems, IBM, KaaIoT Technologies, Oracle, and Trimble (News - Alert) are present in the IoT market through various channels in livestock management. The sales of hardware products such as sensors, collars, RFID tags, ear tags, gateways, and routers take place through manufacturers, well-established suppliers, and dealers. The well-established manufacturers and distributors are emphasizing on geographical expansion in developing regions. The growth in IoT with wireless sensors is the driving force for market enhancements in the developed as well as the developing regions. The necessity to increase productivity, the availability of limited grazing lands and water resources have paved the way for competition among vendors in the global IoT market in livestock management.

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