Dairy Herd Management Market to Generate Revenue Worth of $1,511.91 Million by 2018
The global dairy herd management market was valued at $823.65 million in 2013 and is expected to reach $1,511.91 million by 2018, at a CAGR of 12.92% between 2013 and 2018.
Pune, Maharashtra, January 5, 2016 (Newswire.com) - The report “Dairy Herd Management Market by Product (Hardware, Systems & Software), by Application (Feeding, Milking, Heat Stress, Animal Comfort, & Reproduction Management), by End User (Small, Large & Cooperative Dairy Farms) - Global Forecast to 2018”, The global dairy herd management market was valued at $823.65 million in 2013 and is expected to reach $1,511.91 million by 2018, at a CAGR of 12.92% between 2013 and 2018.
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Dairy herd management products offer substantial cost advantages over traditional, manual herd management techniques. Furthermore, traditional techniques are unsuitable to large, commercial dairy farming operations. The increasing demand for dairy products will drive the growth of commercial dairy farming, which in turn will drive the demand for dairy herd management products. Furthermore, increasing labor costs will also lead to increased adoption of automated herd management products, and will aid the growth of the dairy herd management market.
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Europe accounted for the largest share of the global dairy herd management market in 2013. This market is also poised to grow at the highest rate during the forecast period of 2013 to 2018. As such, Europe will remain an important market for dairy herd management products and will offer substantial growth opportunities for market players. Europe has one of the highest adoption rates for dairy herd management products. Furthermore, anticipated regulatory changes in Europe, such as mandatory ISO ID tracking for all commercial dairy cattle, will also drive the growth of this market.
The application segments included in this report are animal comfort, calf management, feeding management, heat stress management, milk harvesting, reproduction management, and other applications. The milk harvesting application segment is expected to grow at the highest CAGR during the forecast period, owing to the growing demand for dairy products. Milk harvesting has the highest adoption rate of automated dairy herd management products. Its adoption rate is also relatively higher in the regional segments of China, India, and South America. Furthermore, the increasing global demand for dairy products will further drive the growth of the milk harvesting application segment.
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The major players in the dairy herd management market are Afimilk Ltd. (Israel), BouMatic (U.S.), DeLaval (Sweden), FarmWizard Ltd. (Ireland), GEA Group AG (Germany), Infovet (India), Lely Holdings S.A.R.L. (Netherlands), SCR Dairy, Inc. (Israel), Sum-IT Computer Systems Ltd. (Oxfordshire), and Valley Agricultural Software (U.S.).
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