Artificial Intelligence (AI) in Precision Livestock Farming Global Market Report 2024

The artificial intelligence (AI) in precision livestock farming market size has grown exponentially in recent years. It will grow from $1.65 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The expansion witnessed in the historic period can be attributed to several factors, including the increasing adoption of precision farming techniques, the emergence of predictive analytics, rising consumer demand for high-quality livestock products, the growing implementation of precision agriculture methods, and heightened concerns surrounding animal welfare.

The artificial intelligence (AI) in precision livestock farming market size is expected to see exponential growth in the next few years. It will grow to $5.71 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The projected growth in the forecast period can be attributed to several key factors, including the adoption of smart farming techniques, the imperative for efficient livestock management, the escalating global population and food demand, the growing emphasis on sustainable agriculture practices, the prioritization of animal health and disease management, and the necessity for resilience in the face of climate change challenges. These factors collectively drive growth within the industry by promoting innovation, efficiency, and sustainability in livestock farming practices. Furthermore, major trends expected to shape the landscape in the forecast period include the adoption of automated monitoring systems, advancements in disease detection and prevention technologies, the implementation of automated feeding and climate control systems, the integration of computer vision technologies, the proliferation of the Internet of Things (IoT), the adoption of remote monitoring and management solutions, and advancements in sensor technology.

The rising consumption of poultry and dairy products is expected to be a significant driver behind the growth of artificial intelligence (AI) in the precision livestock farming market in the coming years. Poultry and dairy product consumption encompasses food items derived from poultry (such as chickens, turkeys, and ducks) and dairy animals (such as cows, goats, and sheep). This consumption trend is driven by factors such as a growing population and increased awareness of the nutritional benefits of these products. AI technology is increasingly integrated into precision livestock farming practices for poultry and dairy production, aiming to enhance operational efficiency, monitor animal health, optimize feed management, and streamline reproductive practices. These AI-driven initiatives are expected to foster increased productivity and sustainability in the livestock farming sector. For example, data from the European Commission (EC) indicated a 0.8% increase in raw milk production in the EU during the initial six months of 2023, highlighting the growing demand and production levels in the dairy sector, which is driving the adoption of AI in precision livestock farming.

Major players in the artificial intelligence (AI) sector within the precision livestock farming market are actively developing and deploying advanced technological solutions, such as automated feeding systems, to further improve animal health and optimize production efficiency. Automated feeding systems utilize AI algorithms to analyze real-time data gathered from various sensors, including those monitoring animal behavior, weight, and environmental conditions. For instance, Precision Livestock Technologies Inc., a US-based provider of software and hardware solutions for livestock feeding and health, introduced an AI system in January 2024 designed to predict cattle feed intake and offer feeding recommendations. This system leverages data from PLT's Bunk Management System and external sources to enhance feeding strategies, providing daily quantitative feeding predictions to optimize feeding practices based on factors such as feeding rates, times, cattle behavior, ration type, and weather conditions.

In March 2024, GEA Group AG, a Germany-based engineering company, made an undisclosed acquisition of CattleEye Ltd., an Ireland-based agricultural software company specializing in AI-based livestock management and health monitoring solutions. This strategic move by GEA underscores the industry's focus on leveraging AI technologies to improve dairy farm operations, enhance animal health and welfare, and drive overall efficiency in precision livestock farming practices.

Major companies operating in the artificial intelligence (AI) in precision livestock farming market are Microsoft Corporation, Cargill Incorporated, Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Tetra Laval International SA, Zoetis Inc., GEA Group AG, Big Dutchman International GmbH, Rex Animal Health Inc., Neogen Corporation, DeLaval International AB, Nedap N.V., Climate Corporation, Lely International Holding B.V., Cainthus Holdings Ltd (Ever.Ag), Trioliet B.V., Waikato Milking System, Afimilk Ltd, Hokofarm Group B.V., AgriWebb, SwineTech Inc, BinSentry Inc, Fancom B.V., Connecterra B.V., SomaDetect Inc.

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. The countries covered in the artificial intelligence (AI) in precision livestock farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Artificial intelligence (AI) integration in precision livestock farming involves incorporating AI technologies into farming operations to improve efficiency and productivity while conserving resources. This approach utilizes sensors, data analytics, and machine learning algorithms to monitor animal health, behavior, and environmental conditions.

The primary types of AI in precision livestock farming include machine learning, computer vision, and natural language processing (NLP). Machine learning focuses on developing algorithms that enable computers to learn from data and make predictions or decisions, thus advancing AI applications in precision livestock farming. Livestock types such as dairy cattle, poultry, swine, and aquaculture benefit from AI technologies. Various technology providers, including startups, agricultural equipment manufacturers, established tech companies, and research institutions, contribute to activities such as automated animal health monitoring, precision feeding, environmental monitoring, disease detection and prevention, reproduction management, behavioral analysis, animal welfare, and data analytics. These advancements aim to optimize livestock production systems with precision and efficiency, ultimately benefiting both farmers and consumers.

The artificial intelligence (AI) in precision livestock farming market research report is one of a series of new reports that provides artificial intelligence (AI) in precision livestock farming market statistics, including artificial intelligence (AI) in precision livestock farming industry global market size, regional shares, competitors with a artificial intelligence (AI) in precision livestock farming market share, detailed artificial intelligence (AI) in precision livestock farming market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in precision livestock farming industry. This artificial intelligence (AI) in precision livestock farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The artificial intelligence (AI) in the precision livestock farming market consists of revenues earned by entities by providing services such as animal health monitoring, objective and precise evaluations of animal health, behavior analysis and physiological metrics, environmental monitoring, disease detection and prevention, feed management efficiency, reproductive management, and overall farm productivity. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in precision livestock farming market also includes sales of sensors and wearable devices such as accelerometers, temperature sensors, 3D cameras, drones, automated feeding systems, ventilation systems, robotics and automation systems, and computer vision systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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