AI In Livestock Farming Market Size and Forecast 2024: Key Insights and Projections

Overview and Scope
Artificial intelligence (AI) in precision livestock farming refers to integrating artificial intelligence (AI) technologies into farming practices to enhance efficiency and productivity while minimizing resources. It employs sensors, data analytics, and machine learning algorithms to monitor animal health, behavior, and environmental conditions.

Sizing and Forecast
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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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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 refers 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.

Key Industry Players
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.

The artificial intelligence (ai) in precision livestock farming market report table of contents includes:

1. Executive Summary
2. Artificial Intelligence (AI) In Precision Livestock Farming Market Characteristics
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. Global Artificial Intelligence (AI) In Precision Livestock Farming Market Size and Growth
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31. Global Artificial Intelligence (AI) In Precision Livestock Farming Market Competitive Benchmarking
32. Global Artificial Intelligence (AI) In Precision Livestock Farming Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Precision Livestock Farming Market
34. Artificial Intelligence (AI) In Precision Livestock Farming Market Future Outlook and Potential Analysis
35. Appendix

 

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