The artificial intelligence (ai) in precision livestock farming global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) In Precision Livestock Farming Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) in precision livestock farming market size has grown exponentially in recent years. It will grow from $1.65 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to increasing precision farming, the rise of predictive analytics, rising demand for high-quality livestock products, increasing precision agriculture, and growing concerns about animal welfare.
The artificial intelligence (AI) in precision livestock farming market size is expected to see exponential growth in the next few years. It will grow to $5.71 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The growth in the forecast period can be attributed to rising smart farming techniques, the need for efficient livestock management, rising global population and food demand, increasing demand for sustainable agriculture, focus on animal health and disease management, and the need for resilience to climate change. Major trends in the forecast period include automated monitoring, disease detection and prevention, automated feeding systems, automated climate control systems, computer vision technologies, the internet of things (IoT), remote monitoring and management, and advancements in sensor technology.
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Scope Of Artificial Intelligence (AI) In Precision Livestock Farming Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) In Precision Livestock Farming Market Overview
Market Drivers –
The increasing poultry and dairy product consumption is expected to propel the growth of artificial intelligence (AI) in the precision livestock farming market going forward. Poultry and dairy product consumption refer to food items derived from poultry (such as chickens, turkeys, and ducks) and dairy animals (such as cows, goats, and sheep). Poultry and dairy product consumption is increasing due to a growing population, and awareness of their nutritional benefits. AI is employed in precision livestock farming for poultry and dairy production to enhance efficiency, monitor animal health, optimize feed management, and streamline reproductive practices, fostering increased productivity and sustainability. For instance, in August 2023, according to the European Commission (EC), the Belgium-based executive branch of the European Union (EU), raw milk production in the EU saw a 0.8% increase during the initial six months of 2023. Therefore, increasing poultry and dairy product consumption drives the growth of artificial intelligence (AI) in the precision livestock farming market.
Market Trends –
Major artificial intelligence (AI) companies in the precision livestock farming market are focused on developing advanced technological solutions, such as automated feeding systems, to improve animal health and optimize production efficiency. Automated feeding systems leverage AI algorithms to analyze real-time data from various sensors, such as those monitoring animal behavior, weight, and environmental conditions. For instance, in January 2024, Precision Livestock Technologies Inc., a US-based software and hardware solutions provider for livestock feeding and health, launched an AI system to predict cattle feed intake and recommend feeding. The system uses data from PLT’s Bunk Management System and external sources to improve feeding strategies, with daily quantitative feeding predictions aiming to optimize feeding practices. The system considers feeding rates, feeding times, cattle behavior, ration type, and weather conditions to generate daily quantitative feeding predictions, aiming to optimize feeding practices.
The artificial intelligence (ai) in precision livestock farming market covered in this report is segmented –
1) By Type: Machine Learning, Computer Vision, Natural Language Processing (NLP)
2) By Livestock Type: Dairy Cattle, Poultry, Swine, Cattle, Aquaculture
3) By Technology Providers: Startups And Small Companies, Agricultural Equipment Manufacturers, Established Technology Companies, Research Institutions And Universities
4) By Application: Automated Animal Health Monitoring, Precision Feeding, Environmental Monitoring, Disease Detection And Prevention, Reproduction Management, Behavioral Analysis And Animal Welfare, Data Analytics
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) in the precision livestock farming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in precision livestock farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) in precision livestock farming market report are Microsoft Corporation; Cargill Incorporated; Amazon Web Services Inc.; Intel Corporation; International Business Machines Corporation; NVIDIA Corporation; Tetra Laval International SA; Zoetis Inc.; GEA Group AG; Big Dutchman International GmbH; Rex Animal Health Inc.; Neogen Corporation; DeLaval International AB; Nedap N.V.; Climate Corporation; Lely International Holding B.V.; Cainthus Holdings Ltd (Ever.Ag); Trioliet B.V.; Waikato Milking System; Afimilk Ltd; Hokofarm Group B.V.; AgriWebb; SwineTech Inc; BinSentry Inc; Fancom B.V.; Connecterra B.V.; SomaDetect Inc.
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) In Precision Livestock Farming Market Report Structure
3. Artificial Intelligence (AI) In Precision Livestock Farming Market Trends And Strategies
4. Artificial Intelligence (AI) In Precision Livestock Farming Market – Macro Economic Scenario
5. Artificial Intelligence (AI) In Precision Livestock Farming Market Size And Growth
…..
33. Global Artificial Intelligence (AI) In Precision Livestock Farming Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Precision Livestock Farming Market
35. Artificial Intelligence (AI) In Precision Livestock Farming Market Future Outlook and Potential Analysis
36. Appendix
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