The global RFID tags market for livestock management size is poised to reach USD 984.72 million by 2023, according to a new report by Technavio, progressing at a CAGR of 12% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190910005766/en/
Technavio has published a new market research report on the global RFID tags market for livestock management from 2019-2023. (Graphic: Business Wire)
“Apart from the government regulations on transition to RFID tags, the increasing adoption of cloud technologies, and the rising adoption of automation in livestock units are some other factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the government regulations on transition to RFID tags. In addition, emphasis on reducing methane emissions from livestock is anticipated to further boost the RFID tags market for livestock management during the forecast period.
RFID is widely considered as a reliable and efficient technology to track assets across industries. Hence, RFID tags are now being used to manage livestock units. In livestock units, RFID tags have various benefits such as keeping an accurate count of the animals, location of the animals, and details about feeding, weight, and others. As a result, governments across the world have introduced various livestock management programs. For instance, in July 2019, the Kentucky Department of Agriculture (KDA) in the US, along with Kentucky Office of the State Veterinarian, mandated livestock owners to adopt RFID tags for cattle and other animals. Thus, government mandates on the use of RFID tags for livestock management will accelerate the growth of the market during the forecast period.
Furthermore, cattle farming accounts for a large part of the total greenhouse gases that are released into the environment and cows account for approximately 40%-45% of the global methane emissions. However, livestock farming can reduce methane emission from cows by up to 30%. Methane formation can be eliminated by managing livestock on a real-time basis and providing precision feeding and green feeding. The amount of methane emitted by an animal can be measured by RFID readers and other equipment. Also, attaching RFID tags on the animal reduces overfeeding and underfeeding. Thus, such advantages of RFID readers are expected to showcase a positive outlook during the forecast period.
For More Information: Request Free Sample Pages
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- 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.
Market Segmentation by Category and Product Types:
The Gravure Printing Inks Market can be broadly categorized into the following type:
- Goats and sheep
Key Regions for the Global RFID Tags Market for Livestock Management:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Information Technology Market are:
Loan Servicing Software Market – Global Loan Servicing Software Market by deployment (cloud-based and on-premise) and geography (APAC, Europe, MEA, North America, and South America).
Connected Ship Solutions Market – Global Connected Ship Solutions Market by ship type (commercial and defense), installation type (on-board and onshore), and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.