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As per The Business Research Company’s Artificial Intelligence (AI) In Precision Livestock Farming Global Market Report 2024, the artificial intelligence (AI) in precision livestock farming market is expected to show significant growth in the forecast period.

 

The artificial intelligence (AI) in precision livestock farming market has experienced rapid growth, driven by advancements in technology and the rising demand for high-quality livestock products. This blog delves into the market’s current status, future projections, and key factors contributing to its expansion.

 

Rapid Market Expansion

Current Market Size

• 2023 Market Size: $1.65 billion
• 2024 Market Size: $2.11 billion
• CAGR (2023-2024): 27.9%

The growth in recent years is attributed to increasing precision farming practices, the rise of predictive analytics, and the growing demand for high-quality livestock products. Additionally, the focus on animal welfare and precision agriculture has propelled the market.

Future Market Projections

• 2028 Market Size: $5.71 billion
• CAGR (2024-2028): 28.2%

Looking ahead, the market is expected to grow exponentially due to the adoption of smart farming techniques, efficient livestock management, and the rising global population. The increasing demand for sustainable agriculture and the focus on animal health and disease management further drive this growth.

Key Drivers of Growth

Rising Demand for Dairy Products

• Poultry and Dairy Consumption: Growing populations and awareness of nutritional benefits are driving demand for poultry and dairy products.
• AI in Production: AI enhances efficiency, monitors animal health, optimizes feed management, and streamlines reproductive practices, leading to increased productivity and sustainability.
• Example: According to the European Commission, raw milk production in the EU increased by 0.8% in the first half of 2023, showcasing the rising demand for dairy products.

 

View More On The Artificial Intelligence (AI) In Precision Livestock Farming Market Report 2024 – https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-in-precision-livestock-farming-global-market-report

 

Technological Advancements

Automated Feeding Systems

• AI Algorithms: Analyze real-time data from sensors monitoring animal behavior, weight, and environmental conditions to optimize feeding.
• Example: In January 2024, Precision Livestock Technologies Inc. launched an AI system predicting cattle feed intake, improving feeding strategies through daily quantitative predictions.

Disease Detection and Prevention

• Automated Monitoring: Use of AI for early disease detection and prevention, ensuring better animal health and reducing losses.
• Sensor Technology: Advancements in sensors aid in real-time monitoring and management of livestock health.

Strategic Acquisitions

GEA Group AG and CattleEye Ltd.

• Acquisition Details: In March 2024, GEA Group AG acquired CattleEye Ltd., enhancing its offerings for dairy farms.
• Impact: This acquisition focuses on improving animal health and welfare within dairy operations through AI-based livestock management solutions.

Major Companies in the Market

Key Players

• Tech Giants: Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, NVIDIA Corporation
• Agricultural Leaders: Cargill Incorporated, Tetra Laval International SA, Zoetis Inc., GEA Group AG
• Innovators: Big Dutchman International GmbH, Rex Animal Health Inc., Neogen Corporation

These companies are leading the development and deployment of AI solutions in precision livestock farming, driving the market forward.

Market Segmentation

By Type

• Machine Learning
• Computer Vision
• Natural Language Processing (NLP)

By Livestock Type

• Dairy Cattle
• Poultry
• Swine
• Cattle
• Aquaculture

By Technology Providers

• Startups and Small Companies
• Agricultural Equipment Manufacturers
• Established Technology Companies
• Research Institutions and Universities

By Application

• Automated Animal Health Monitoring
• Precision Feeding
• Environmental Monitoring
• Disease Detection and Prevention
• Reproduction Management
• Behavioral Analysis and Animal Welfare
• Data Analytics

Regional Insights

Leading Regions

• North America: Largest market in 2023
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period

The AI in precision livestock farming market is experiencing significant growth due to technological advancements, increasing demand for high-quality livestock products, and the adoption of smart farming techniques. With major companies driving innovation and strategic acquisitions enhancing capabilities, the market is set to expand rapidly in the coming years.

 

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The Artificial Intelligence (AI) In Precision Livestock Farming Global Market Report 2024  provides an in-depth analysis on the artificial intelligence (AI) in precision livestock farming market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the artificial intelligence (AI) in precision livestock farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

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