What are the drivers and opportunities for the livestock identification market?
Factors such as rapid adoption of automation technology and IoT-enabled devices for efficient management of livestock farms and increased focus of livestock farmers on real-time identification and tracking of animals are among the driving factors of the livestock identification market. Moreover, Rising number of government initiatives encouraging livestock identification technology use and growing adoption of livestock identification solutions in developing countries to create lucrative opportunities in the livestock identification market.
Who are the major consumers of livestock identification solutions that are expected to drive the growth of the market in the next 5 years?
The major consumers for livestock identification devices are cattle farms, poultry farms, swine farms, and bovine as well as equine farms are expected to have a significant share in this market..
Which livestock identification hardware type is expected to dominate the market during the forecast period?
Electronic identification tags accounted for the largest share of the livestock identification market for hardware offerings in 2021. The growth of the segment can be attributed to the rising demand for RFID tags for livestock identification, especially due to mandates of governments in various countries to tag livestock species.
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Which is the potential market for livestock identification in terms of the region?
The Europe region is expected to dominate the livestock identification market due to the presence of numerous consumers and livestock identification device manufacturing companies.
Which are the major companies in the livestock identification market? What are their major strategies to strengthen their market presence?
The major companies in the livestock identification market are – 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). The major strategies adopted by these players are product launches, collaborations, partnerships, contracts, agreements, expansions, and acquisitions.
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