With Market Size Valued at $4.7 Billion by 2026, it`s a Healthy Outlook for the Global Precision Livestock Farming Market

SAN FRANCISCO, Aug. 31, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Precision Livestock Farming - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 882
Companies: 37 - Players covered include Afimilk; Aleis Pty Ltd; Antelliq; BouMatic; Cainthus; Connecterra; Cowlar; Dairy Master; DeLaval; Fancom B.V.; Farm Control; Fullwood Paco Ltd.; GEA Farm Technology; HID Global; HokoFarm-Group; IceRobotics; Lely; MiRobot; Moocall; Trioliet B.V; VDL Agrotech; Waikato Milking System and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software, Services); System Type (Milking Robotics Systems, Livestock Identification, Monitoring & Tracking Systems, Precision Feeding Systems, Poultry Monitoring & Robotic Systems); Farm Type (Dairy Farms, Swine Farms, Poultry Farms, Other Farm Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Precision Livestock Farming Market to Reach $4.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Precision Livestock Farming estimated at US$3 Billion in the year 2020, is projected to reach a revised size of US$4.7 Billion by 2026, growing at a CAGR of 7.7% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 7.3% CAGR and reach US$3.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 7.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $880 Million in 2021, While China is Forecast to Reach $1 Billion by 2026
The Precision Livestock Farming market in the U.S. is estimated at US$880 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2026 trailing a CAGR of 11.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 6.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.

Services Segment to Reach US$678.3 Million by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 8.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$296.5 Million in the year 2020 will reach a projected size of US$529.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.