The smart collar tag for cow market was valued at US$ 243. 1 million in 2019 and is expected to grow at a CAGR of 10. 9% during 2020–2027 to reach US$ 513. 8 million by 2027. The introduction of the Internet of things (IoT) technology in the livestock industry brought new solutions for dairy farmers to manage the livestock more effectively.
New York, March 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Collar Tag for Cow Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type ; Application, and Geography" - https://www.reportlinker.com/p06038358/?utm_source=GNW
New smart technologies, such as real-time animal activity monitoring, automated feeding systems, and health tracking devices, have boosted the revenue margin for dairy farmers.
The cost-saving benefits experienced after mounting the collars on a cow is one of the key factors for the market growth.Dairy farmers and ranchers are adopting smart collars to locate and monitor the cow’s activities.
The IoT-based cattle-tracking collar offers remote visibility of the livestock locations.Securing and protecting the cows from natural disasters, theft, injury, and organized crime are among the key factors augmenting the adoption of these collars in a livestock monitoring application.
Rising awareness about IoT technology among livestock owners and farmers is supplementing the market growth. For instance, in January 2020, Chipsafer a livestock monitoring solution-providing company introduced a new solution for cattle management. The company introduced a solar-powered collar to offer protection against cattle theft. The company developed this effective solution to avoid cattle rustling incidences, specifically in Kenya.
Growing inclination of dairy farmers and ranchers toward smart agricultural practices and livestock monitoring solutions is mounting the demand for smart collars.Companies are further improving the solution by integrating advanced sensors for enhanced monitoring and tracking features.
For instance, Sigfox a provider of the IoT technology offered a series of wireless monitoring devices for livestock, including collars and tags.Ranchers are using smart livestock collars offered by the company to monitor the cattle.
Further, the cost-saving benefits of smart collars are increasing their incorporation in livestock tracking applications.The demand for wearable livestock trackers is mounting across the globe, which is supporting the market growth.
For instance, according to the Sierra Wireless company prediction, the wearable livestock trackers market is expected to reach US$ 2.5 billion by 2025. Such supporting stats and acceptance of the IoT technology in farming and livestock monitoring applications are driving the market.
The smart collar tag for cow market is segmented on the basis of product type and application.Based on product type, the market is segmented into GPS based, radio based and others.
The radio based segment represented a larger share of the overall market during the forecast period.Based on application, the market is segmented into tracking, training and others.
In 2019, the tracking segment accounted for a significant share in the market.
The COVID-19 pandemic is adversely affecting the industries across the world.The global economy took a worst hit in 2020, and it is likely to continue in 2021 also.
The outbreak is creating significant disruptions in primary industries such as agriculture and dairy COVID-19 is underlining the possible risks and vulnerability of the present agriculture value chain model as well as challenging the livestock industry to consider altering its global supply chain model.Several livestock handlers were dependent on in-house suppliers for raw materials; however, the pandemic’s outbreak shifted their focus to alternate suppliers.
One of the primary raw materials, i.e., chips, used in smart collar tags, also witnessed a drop in its prices. However, at the industry level, the demand for smart tags was impacted significantly.
The overall smart collar tag for cow market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the smart collar tag for cow market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic.The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the smart collar tag for cow market.
A few major players operating in the market are Afimilk Ltd, BouMatic, Connecterra B.V., Cowlar Inc, CowManager B.V, HerdInsights, Lely, Moocall, Quantified AG, and SCR Dairy.
Read the full report: https://www.reportlinker.com/p06038358/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001