RFID Tags For Livestock Management Market to grow at a CAGR of 9.75% from 2022 to 2027, Driven by the regulations for animal welfare

NEW YORK, March 15, 2023 /PRNewswire/ -- The global RFID tags for livestock management market size is estimated to grow by USD 880.8 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 9.75% during the forecast period.

The regulations regarding animal welfare are major drivers fueling the global radio frequency identification (RFID) tags for livestock management market growth. Livestock gets affected by severe chronic diseases such as anthrax and other viral and bacterial infections, which has led to the need for regular monitoring. The number of animals slaughtered for human consumption is increasing significantly even though the number of people involved in livestock farming is limited. Resultantly, livestock production units are operated at overcapacity. Due to this, farmers cannot pay attention to the health and wellness of each animal. Thus, animal health and welfare are becoming a major concern for governments in several countries.

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RFID Tags For Livestock Management Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on type (cattle, goats and sheep, and others), application (passive and active), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by the cattle segment will be significant for the market growth during the forecast period. The rising investments in cattle farming to boost milk and meat production are increasing the number of livestock worldwide. Owners opt to manage livestock without any human intervention, which leads to increasing demand for automation in managing livestock units using advanced technologies such as RFID, NFC, and others, thereby driving the sales of RFID tags in cattle and is also expected to remain unchanged during the forecast period.

Geography OverviewBy geography, the global RFID tags for livestock management market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global RFID tags for livestock management market.

North America is estimated to contribute 28% to the growth of the global RFID tags for livestock market during the forecast period. The growth of the market can be attributed to factors such as the increasing population of livestock and rising investments in livestock farming. Farms usually vary widely based on the number and type of livestock like buffalos, sheep, goats, poultry, and pigs. The presence of many livestock animals presents challenges in the form of livestock management. This can be resolved through the adoption of RFID technology. The implementation of RFID for the welfare and management of livestock is mandated by the USDA. Hence, such factors are expected to increase the global RFID for livestock management market growth in this region during the forecast period.

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RFID Tags For Livestock Management Market – Vendor Analysis

The global RFID tags for livestock management market is fragmented with the presence of various regional and global players. Allflex Group, Bartronics India Ltd., CoreRFID Ltd., Dalton Tags, Datamars SA, eAgile Inc., Essen Computers Ltd., GAO RFID Inc., HID Global Corp., 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, Zebra Technologies Corp., and ID Tech Solutions Pvt. Ltd. are some of the major vendors in the market.

RFID Tags For Livestock Management Market – Market Dynamics

Leading trends influencing the market

The rapid adoption of automation in livestock units is a key trend fueling the global RFID tags for livestock management market growth.

The global concentration of skilled workforce is declining in the agriculture and livestock sectors. The population involved in agriculture practices is steadily shifting toward the service sector or urban jobs, resulting in the remaining labor force charging higher-than-average wages.

There is a further rise in labor costs due to the growing need for labor in the agriculture and livestock industry. Livestock owners implement automation to reduce the spending on wages and improve efficiency.

Thus, automated equipment is used to carry out various farm operations, such as automatic identification, feeding, milking, birth detection, egg collection, barn cleaning, and others.

Major challenges hindering the market growth

The high cost of active RFID tags is a major factor that may impede the growth of global RFID tags for livestock management market.

The cost of RFID systems depends on the type of tags and the type of readers. Passive tags used to manage livestock costs around USD 0.21, and UFH reader systems can process up to 1,000 tags per second.

For large-scale livestock companies, active RFID tags are required to manage the livestock on a large scale. Livestock owners require RFID readers to read information through active RFID tags, which are expensive, where a single reader costs up to USD 1,500.

This is slowing down the adoption of active RFID systems and hinders the growth of the global RFID tags market for livestock management.

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What are the key data covered in this RFID Tags For Livestock Management Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the RFID tags for livestock management market between 2023 and 2027

Precise estimation of the size of the RFID tags for livestock management market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the RFID tags for livestock management market across North America, Europe, APAC, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of RFID Ttags for livestock management market vendors

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RFID Tags For Livestock Management Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.75%

Market growth 2023-2027

USD 880.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.82

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 28%

Key countries

US, China, Germany, Russia, and Brazil, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

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., 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, Zebra Technologies Corp., and ID Tech Solutions Pvt. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global RFID tags for livestock management market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Cattle - Market size and forecast 2022-2027

6.4 Goats and sheep - Market size and forecast 2022-2027

6.5 Others - Market size and forecast 2022-2027

6.6 Market opportunity by Type

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Passive - Market size and forecast 2022-2027

7.4 Active - Market size and forecast 2022-2027

7.5 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 Brazil - Market size and forecast 2022-2027

9.12 Russia - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Allflex Group

12.4 Bartronics India Ltd.

12.5 Dalton Tags

12.6 Datamars SA

12.7 Essen Computers Ltd.

12.8 HID Global Corp.

12.9 Impinj Inc.

12.10 Ketchum Mfg. Co.

12.11 Mojix Inc.

12.12 National Band and Tag Co.

12.13 NXP Semiconductors NV

12.14 Omnia Technologies Pvt. Ltd.

12.15 RFID Inc.

12.16 Siemens AG

12.17 Tag Factory

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio 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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