Livestock Identification Market worth $2.78 billion by 2031 at a CAGR of 8.1%

(IT-NEWSWIRE.COM, February 18, 2025 ) The livestock identification market is projected to reach USD 2.78 billion by 2031 from USD 1.74 billion in 2025 at a CAGR of 8.1% during the forecast period. Large potential to reduce economic losses and livestock mortality rates due to accurate and efficient animal disease traceability, rapid adoption of automation technology and IoT-enabled devices for efficient management of livestock farms, and increased focus of livestock farmers on real-time identification and tracking of animals are the major factors contributing to the market growth.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132736040

The livestock industry experiences significant changes to its revenue structures because of present-day emerging trends and disruptive patterns. The livestock industry continues to generate its current revenue through traditional methods and new technological advancements however its future expansion will rely heavily on innovative solutions that include tagging systems and software programs for livestock management. The emerging revenue streams activate traceability and operational efficiency and reduce dependence on old technologies. Visual livestock biometrics have emerged as a key innovation since they operate without invasion which creates remarkable opportunities for better livestock tracking and management systems.

Swine will witness the highest CAGR in the livestock type segment. Livestock management with swine is labor-intensive and identification solutions decrease costs while enhancing efficiency. In light of increased global demand for pork, proper identification is imperative for trade, regulatory compliance, and traceability of disease in the US, where federally approved ear tags have unique identification numbers, and RFID tags enable real-time tracking and performance monitoring. These solutions provide crucial information about origin, birth date, and health history and therefore enhance herd management and food safety. Merck & Co., Inc.; Datamars; and Nedap N.V. are among the leaders providing swine identification solutions.

In the offering segment, the largest market share was held by hardware, and a similar trend is expected to be followed throughout the forecast period. Livestock identification hardware offerings include electronic identification tags, visual identification tags, readers and applicators, sensors, and boluses. Among these, electronic identification tags, including radio frequency identification (RFID) tags, are widely used and considered secure animal identification devices. They ensure that lost or stolen animals are correctly identified and traced, which can lead to their return.

Key Market Players

The key players in the livestock identification market include Merck & Co., Inc. (US), Datamars (Switzerland), Nedap N.V. (Netherlands), MS Schippers (Netherlands), and Shearwell Data Ltd. (UK), Leader Products (Australia), CAISLEY International GmbH (Germany), Kupsan Tag Company (Turkey), Luoyang Laipson Information Technology Co., Ltd. (China), and Omnia Technologies Pvt. Ltd. (India). These players have adopted various organic and inorganic growth strategies such as solution and service launches and developments, partnerships, collaborations, acquisitions, and joint ventures to expand their presence globally and increase their share in the livestock identification market.

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=132736040

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

MarketsandMarkets™

Mr. Rohan Salgarkar

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

Livestock Identification Market worth $2.78 billion by 2031 at a CAGR of 8.1%