RFID Tags Market for Livestock Management by Type and Geography - Global Forecast and Analysis 2019-2023
Global RFID Tags Market for Livestock Management: About this market
Radio-frequency identification (RFID)tags are attached to the livestock that needs to be controlled and tracked. RFID technology uses an electromagnetic signature that accompanies the radio frequency in a specific spectrum to communicate information. Technavio’s RFID tags market for livestock management analysis considers sales from cattle, goats and sheep, and other types. Our analysis also considers the sales of RFID tags market for livestock management in APAC, Europe, MEA, North America, and South America. In 2018, the cattle segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising adoption of automation in livestock management will play a significant role in the cattle segment to maintain its market position. Also, our global RFID tags market for livestock management report looks at factors such as regulations regarding animal welfare, emphasis on reducing methane emissions from livestock, and government regulations on transition to RFID tags. However, high cost of active RFID tags, data security and privacy issues, and threat of disruption in RFID frequencies may hamper the growth of the RFID tags market for livestock management over the forecast period.
Global RFID Tags Market for Livestock Management: Overview
Government regulations on the transition to RFID tags
RFID is widely considered as a reliable and efficient technology to track assets across industries. Governments across the world have introduced various livestock management programs, such as the National Animal Identification System laid by the US. It is a government-run program to manage animal health by identifying and tracking specific animals. Such programs encourage livestock owners to adopt RFID tags. Governments across the world have also announced regulations regarding the transition from metal tags to RFID tags. Government mandates on the use of RFID tags for livestock management will lead to the expansion of the global RFID tags market for livestock management at a CAGR of nearly 12% during the forecast period.
Increasing adoption of RFID in smart farming applications
Smart farming incorporates smart solutions that use RFID systems such as RFID tags, RFID readers, and RFID middleware to gather vital information regarding livestock. Smart solutions enable the wireless collection of livestock data from the field, such as changes in weight, location, treatment codes, and estimated birthing time. The data are recorded and uploaded in smart farming applications. The applications consist of information such as health record and production processes such as milking . The solutions support simultaneous data collection and recording. The increasing adoption of smart solutions is encouraging market participants such as software solution providers to develop and launch smart farming applications. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global RFID tags market for livestock management during the forecast period 2019-2023, click here.
With the presence of a few major players, the global RFID tags market for livestock management is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few manufacturers, that include Allflex Group, Dalton Tags, Datamars SA, Essen Computers Pvt. Ltd., HID Global Corp., Impinj Inc., Ketchum Manufacturing Inc., National Band & Tag Co., Omnia Technologies Pvt. Ltd., and SafeTag.
Also, the RFID tags market for livestock management analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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