NEW YORK, June 19, 2024 /PRNewswire/ — The global RFID tags for livestock management market size is estimated to grow by USD 1.06 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 10.6% during the forecast period. Regulations regarding animal welfare is driving market growth, with a trend towards increasing adoption of automation in livestock units. However, high cost of active rfid tags poses a challenge. Key market players include Allflex Group, Bartronics India Ltd., CoreRFID Ltd., Dalton Tags, Datamars SA, eAgile Inc., Essen Computers Ltd., GAO RFID Inc., HID Global Corp., ID Tech Solutions Pvt. Ltd., Impinj Inc., Ketchum Mfg. Co., Mojix Inc., National Band and Tag Co., NXP Semiconductors NV, Omnia Technologies Pvt. Ltd., RFID Inc., Siemens AG, Tag Factory, and Zebra Technologies Corp..
Technavio has announced its latest market research report titled Global RFID tags for livestock management market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Type (Cattle, Goats and sheep, and Others), Application (Passive and Active), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
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Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key companies profiled |
Allflex Group, Bartronics India Ltd., CoreRFID Ltd., Dalton Tags, Datamars SA, eAgile Inc., Essen Computers Ltd., GAO RFID Inc., HID Global Corp., ID Tech Solutions Pvt. Ltd., Impinj Inc., Ketchum Mfg. Co., Mojix Inc., National Band and Tag Co., NXP Semiconductors NV, Omnia Technologies Pvt. Ltd., RFID Inc., Siemens AG, Tag Factory, and Zebra Technologies Corp. |
Key Market Trends Fueling Growth
The agriculture and livestock sectors are experiencing a decline in the skilled workforce, leading to higher labor costs. In response, livestock owners are turning to automation, including the use of RFID tags for livestock management. This technology aids in various farm operations such as identification, feeding, milking, and egg collection. By implementing RFID technology, farmers can decrease labor expenses and enhance efficiency. In the Americas, stringent immigration rules have accelerated this trend.
The RfID tags for livestock management market is witnessing significant growth due to the increasing demand for efficient and accurate animal tracking systems. These tags use radio frequency identification technology to enable automatic data capture and real-time monitoring of livestock. The trend towards automation in agriculture and the need for better animal welfare are key drivers for this market. RfID tags help farmers and ranchers manage their livestock more effectively by providing information on animal location, health, and movement. Additionally, RfID technology enables easier and more accurate record keeping for regulatory compliance. Overall, RfID tags offer a cost-effective and reliable solution for livestock management.
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Market Challenges
RFID tags offer advanced identification solutions for livestock management, with costs varying based on tag and reader types. Passive tags for small-scale operations cost around USD0.21, while active tags and UFH reader systems for large-scale businesses can reach up to USD1,500 per reader. Active RFID tags’ high cost, coupled with significant initial investments for implementation, pose challenges for small and medium livestock owners and vendors, hindering the growth of the RFID tags market for livestock management.
The Rfid tags for livestock management market faces several challenges. These tags must be durable enough to withstand outdoor conditions and rough handling. The tags should also be able to accurately identify and track each animal in real-time. Data security is another concern, as sensitive information about the livestock’s location and health status must be protected. Additionally, the system must be able to handle large volumes of data and provide timely and accurate reports to farmers and livestock owners. The use of solar-powered readers and long-range tags can help address some of these challenges, but cost remains a significant barrier for widespread adoption. Overall, the Rfid tags for livestock management market requires innovative solutions to overcome these challenges and provide farmers and livestock owners with accurate, efficient, and secure tracking systems.
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Segment Overview
This rfid tags for livestock management market report extensively covers market segmentation by
Type
1.1 Cattle
1.2 Goats and sheep
1.3 Others
Application
2.1 Passive
2.2 Active
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Cattle- RFID tags play a crucial role in livestock management systems. These tags help in identifying and tracking individual animals, improving inventory management, and ensuring animal welfare. Farmers can monitor the location and health status of their livestock in real-time, enabling timely interventions and reducing losses. RFID technology offers accuracy, efficiency, and convenience, making it an essential tool for modern livestock farming operations.
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Research Analysis
RFID tags play a significant role in the livestock management industry, enhancing traceability and efficiency in various farming operations. These electronic devices employ radio waves to transmit unique identifying numbers to reader devices, enabling real-time monitoring of livestock. Equine facilities, poultry egg production centres, dairy cattle ranches, and beef steer ranches all benefit from RFID technology. It streamlines livestock management by providing access to animal health records, breeding histories, and other essential data for farmers and ranchers. RFID tags are also used in aquaculture, forests, and even for pets. GPS tags can be integrated with RFID technology to provide location information, further enhancing the capabilities of this technology in the livestock business.
Market Research Overview
The Rfid tags for livestock management market is witnessing significant growth due to the increasing demand for automating and improving livestock farming processes. These tags use radio frequency identification technology to track and monitor livestock in real-time, enabling farmers to efficiently manage their herds and improve productivity. Rfid tags can provide valuable data on livestock location, health status, feeding patterns, and breeding cycles, among other things. The technology is particularly useful in large-scale farming operations, where keeping track of livestock can be a challenging task. Additionally, Rfid tags can help reduce labor costs, minimize the risk of animal loss, and improve overall herd management. The market for Rfid tags in livestock management is expected to continue growing as farmers seek to optimize their operations and increase profitability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Cattle
Goats And Sheep
Others
Application
Passive
Active
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio