RFID Tags for Livestock Management Market Share, Size & Forecast till 2027
RFID Tags for Livestock Management Market
The RFID Tags for Livestock Management Market is anticipated to grow at a faster CAGR during the forecast period (2020-2027).
The factors driving the growth of RFID Tags for Livestock Management Market includes growing adoption of smart agricultural practices, increasing application of RFID tags for tracking livestock inventory and Governments initiatives to promote the use of RFID Tags. According to the report published by RFID Journal Live, the United States Department for Agriculture (USDA) provided 8 million RFID ear tags to cattle and bison ranchers to promote the use of RFID technology amongst the farmers, which is expected to boost the Global RFID Tags for Livestock Management Market in the near future. Moreover, the growing consciousness about the benefits of RFID Tags amongst farmer, increasing investments for manufacturing technologically advanced RFID Tags and automation in the farming practices, are some of the additional factors supplementing the market growth. In addition, the increasing demand for dairy products around the world and rising disposable incomes, are further pushing the market's growth.
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However, the growth of RFID Tags for Livestock Management Market is hindered due to high cost for procuring electronic identification devices.
The leading players operating in the market are Invengo Technology Pte. Ltd., Omni-ID Ltd (U.S.), Impinj, Inc., Confidex Ltd, Alien Technology, LLC., Honeywell International Inc, Tag Factory, Smartrac Technology GmbH, SCR Engineers Ltd., DaltonTags.co. and HID Global Corporation among others.
Type: Segment Analysis
Based on type, the passive segment is anticipated to expand at significant CAGR during the forecast period. The increasing application of RFID Tags in smart farming practices, identifying livestock and collecting real time data of livestock, are some of the key features, responsible for the growth of the segment.
Application: Segment Analysis
Based on application, the sheep segment is projected to grow at a remarkable CAGR over the forecast period. The RFID technology helps in identifying and keeping track of sheep and increasing demand for dairy products using sheep across the globe, are some of the important factors augmenting the growth of the segment.
Regional: Segment Analysis
Based on region, the European region is predicted to capture a sizeable market share during the forecast period attributed to growing adoption of smart farming solutions by farmers, increasing consumption of pork meat, regulations regarding animal identification imposed by the European Union and high per-capita income.
Market Segmentation
Global RFID Tags for Livestock Management Market by Type
Active
Passive
Global RFID Tags for Livestock Management Market by Application
Sheep
Cows
Poultry
Others
Global RFID Tags for Livestock Management Market by Sales Channel
Manufacturer/Distributor/Service Provider
Aftermarket
Global RFID Tags for Livestock Management Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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