Global IoT Market in Livestock Management 2017-2021
About IoT in Livestock Management
Internet of things (IoT) refers to automated networks of computers, devices, and sensors that can process their own data instead of depending solely on input. These Internet-connected systems gather data of livestock and communicate with external processes via onboard sensors, impacting businesses in just about every industry, including livestock management. The market includes hardware, software, and services involved in IoT for livestock management.
Technavio’s analysts forecast the global IoT market in livestock management to grow at a CAGR of 12.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global IoT market in livestock management for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global IoT Market in Livestock Management 2017-2021
Technavio recognizes the following companies as the key players in the global IoT market in livestock management: Cisco Systems, IBM, KaaIoT Technologies, Oracle, and Trimble.
Other Prominent Vendors in the market are: Afimilk, Allflex, BouMatic, CEMA, eCow Devon, GEA Group, IceRobotics, Libelium, Link Labs, Medria, Nokia Solutions and Networks, OnFarm, ROXAN, SenseGrow, Softweb Solutions, Stellapps, Sum-It Computer Systems, and Valley Agricultural Software.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is big data in livestock management. Big data is gaining growth momentum in livestock management. Improvement in wireless in-field communication, functional safety, and repair and maintenance information to realize unified interfaces provides opportunities for the adoption of big data in livestock management.”
According to the report, one driver in the market is decline in the price of sensors. The increase in the adoption of sensors in the market is mainly driven by the reduction in costs. The installation takes less time and costs less, owing to technical advances and easy assembling options provided by sensor manufactures. The cost of sensors is continuously reducing, which indicates the increase in competition among hardware providers. The competition prevailing among major manufacturers of sensors and service providers of IoT products is increasing, which will lead to an increase in market revenue.
Further, the report states that one challenge in the market is high capital expenditure for IoT integration in livestock management. The global IoT market in livestock management is growing with the development of smart hardware products and software solutions. Initial capital and other service costs that involve installation and maintenance of hardware and software are comparatively expensive, and lead to slow growth in the adoption of IoT in livestock management. IoT integration also requires a high initial one-time payment during installation. The implementation of IoT systems and the cost of services is greater than the costs saved by using the technology.
Cisco Systems, IBM, KaaIoT Technologies, Oracle, Trimble, Afimilk, Allflex, BouMatic, CEMA, eCow Devon, GEA Group, IceRobotics, Libelium, Link Labs, Medria, Nokia Solutions and Networks, OnFarm, ROXAN, SenseGrow, Softweb Solutions, Stellapps, Sum-It Computer Systems, and Valley Agricultural Software.
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