Global Precision Livestock Farming Market Overview
The global precision livestock farming is predominantly driven by the rising demand for dairy products, along with the growing preference for protein-rich food. The increase in consumption of animal-based protein across the globe, coupled with the booming global population, is leading to the growth of innovative precision livestock farming technologies. Also, farmers are frequently focusing on increasing the overall quantity of the product by selecting the latest livestock improvement processes. The growing preference for automated milk harvesting systems and the mounting use of precision feeding system is supposed to drive the growth of the precision livestock farming market. Innovative technologies such as cloud computing and the Internet of Things are anticipated to leverage the growth and incorporate more robots and simulated data in farming. The purpose of big data in livestock monitoring is one of the principal trends being wi
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The precision livestock farming market was valued at USD 3.4 billion in 2019 and is expected to reach USD 4.8 billion by 2025, at a CAGR of 9.0% from 2020 to 2025.
The precision livestock farming market has a promising growth potential owing to several factors such as the implementation of IoT- and AI-enabled devices for livestock monitoring, surging labor costs and rising demand for automation in the livestock industry, increasing focus on real-time monitoring and early disease detection, and growing demand for protein and dairy products have become the prominent factors for the growth of the precision livestock farming market globally.