Global Artificial Intelligence (AI) In Precision Livestock Farming Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Overview Of The Global Artificial Intelligence (AI) In Precision Livestock Farming Market?
Artificial intelligence (AI) in precision livestock farming refers to integrating artificial intelligence (AI) technologies into farming practices to enhance efficiency and productivity while minimizing resources. It employs sensors, data analytics, and machine learning algorithms to monitor animal health, behavior, and environmental conditions.
Artificial Intelligence (AI) In Precision Livestock Farming Global Market Report 2024 provides data on the global artificial intelligence (ai) in precision livestock farming market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Artificial Intelligence (AI) In Precision Livestock Farming market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Artificial Intelligence (AI) In Precision Livestock Farming Market?
The artificial intelligence (AI) in precision livestock farming market has shown exponential growth, increasing from $1.65 billion in 2023 to $2.11 billion in 2024, achieving a compound annual growth rate (CAGR) of 27.9%. This growth in the historic period is attributed to the rise of precision farming practices, predictive analytics adoption, growing demand for high-quality livestock products, expanding precision agriculture applications, and heightened concerns for animal welfare. Looking ahead, the market is expected to grow to $5.71 billion by 2028, with a CAGR of 28.2%. The forecast period will witness increased smart farming techniques adoption, efficient livestock management needs, rising global population and food demand pressures, sustainable agriculture demands, focus on animal health and disease management, and climate change resilience needs. Major trends include automated monitoring solutions, disease detection and prevention advancements, automated feeding and climate control systems, computer vision technologies, IoT applications for remote monitoring and management, and sensor technology advancements.
What Are The Core Factors Supporting Growth In The Artificial Intelligence (AI) In Precision Livestock Farming Market?
The increasing consumption of poultry and dairy products is expected to drive the growth of artificial intelligence (AI) in the precision livestock farming market. Poultry and dairy consumption is rising due to population growth and increased awareness of their nutritional benefits. AI technology in precision livestock farming enhances efficiency, monitors animal health, optimizes feed management, and improves reproductive practices, thereby boosting productivity and sustainability. For example, in August 2023, the European Commission reported a 0.8% increase in raw milk production in the EU. This trend underscores how rising consumption of poultry and dairy products supports the expansion of AI in precision livestock farming, aligning with market growth projections for 2024 and 2028.
Get Your Free Sample of the Global Artificial Intelligence (AI) In Precision Livestock Farming Market ReportWhat Are The Major Segments Within The Global Artificial Intelligence (AI) In Precision Livestock Farming Market?
The artificial intelligence (ai) in precision livestock farming market covered in this report is segmented –
1) By Type: Machine Learning, Computer Vision, Natural Language Processing (NLP)
2) By Livestock Type: Dairy Cattle, Poultry, Swine, Cattle, Aquaculture
3) By Technology Providers: Startups And Small Companies, Agricultural Equipment Manufacturers, Established Technology Companies, Research Institutions And Universities
4) By Application: Automated Animal Health Monitoring, Precision Feeding, Environmental Monitoring, Disease Detection And Prevention, Reproduction Management, Behavioral Analysis And Animal Welfare, Data Analytics
Which Trends Are Expected To Transform The Artificial Intelligence (AI) In Precision Livestock Farming Market?
Major artificial intelligence (AI) companies in the precision livestock farming market are developing advanced technological solutions, such as automated feeding systems, to improve animal health and optimize production efficiency. Automated feeding systems use AI algorithms to analyze real-time data from various sensors, such as those monitoring animal behavior, weight, and environmental conditions. For instance, in January 2024, Precision Livestock Technologies Inc., a US-based provider of software and hardware solutions for livestock feeding and health, launched an AI system to predict cattle feed intake and recommend feeding strategies. The system uses data from PLT’s Bunk Management System and external sources to improve feeding strategies, with daily quantitative feeding predictions aiming to optimize feeding practices based on factors such as feeding rates, feeding times, cattle behavior, ration type, and weather conditions.
What Is The Fastest Growing Region In The Artificial Intelligence (AI) In Precision Livestock Farming Market?
North America was the largest region in the artificial intelligence (AI) in the precision livestock farming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in precision livestock farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.