The exponential growth of artificial intelligence (AI) in precision livestock farming is remarkable. According to The Business Research Company’s market report, the sector will surge from $1.65 billion in 2023 to $2.11 billion in 2024, marking a CAGR of 27.9%.
Rising Demand for Livestock Products
The increasing global consumption of poultry and dairy products is a primary driver. Nutritional awareness and population growth have amplified the need. AI optimizes feed management, health monitoring, and reproductive practices, enhancing efficiency and sustainability. Notably, the European Commission reported a 0.8% uptick in EU raw milk production in August 2023.
Key Industry Players
Major stakeholders include Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, and NVIDIA Corporation. These companies are advancing AI solutions including automated monitoring and disease detection systems. In January 2024, Precision Livestock Technologies Inc. launched an AI system predicting cattle feed intake.
Technological Trends
Automation is at the forefront of trends. Automated feeding systems, computer vision technologies, and IoT are being integrated to boost livestock management. Advanced sensors and remote monitoring further drive industry growth.
Segments:
- By Type: Machine Learning, Computer Vision, NLP
- By Livestock Type: Dairy Cattle, Poultry, Swine, Aquaculture
- By Technology Providers: Startups, Equipment Manufacturers, Established Tech Companies, Research Institutions
- By Applications: Health Monitoring, Precision Feeding, Environmental Monitoring, Disease Detection, Reproduction Management, Behavioral Analysis
Geographic Insights
North America leads the AI in precision livestock farming market, with Asia-Pacific emerging as the fastest-growing region. Detailed insights are available for regions like Western Europe, Eastern Europe, South America, and more.
Explore comprehensive insights into the artificial intelligence (AI) in precision livestock farming market with a detailed sample report: The Business Research Company Report
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