Saudi Arabia Livestock Monitoring System Market
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Saudi Arabia Livestock Monitoring System Market, By Offering (Hardware, Software, Services); By Livestock Type (Cattle, Poultry, Others); By Application (Milk Harvesting, Breeding Management, Feeding Management, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: July 2024
- Report ID: BWC24552
- Available Format: PDF
- Page: 200
Report Overview
An increasingly high demand for livestock products and growing livestock population across the Kingdom are expected to boost the growth of Saudi Arabia Livestock Monitoring System Market during the forecast period between 2024 and 2030.Saudi Arabia Livestock Monitoring System Market - Industry Trends & Forecast Report, 2030
Saudi Arabia Livestock Monitoring System Market size was estimated to be worth USD 16.3 million in 2023. During the forecast period between 2024 and 2030, Saudi Arabia Livestock Monitoring System Market size is projected to grow at a CAGR of 10.80%, reaching a value of USD 33.4 million by 2030. Major growth factors for Saudi Arabia Livestock Monitoring System Market include the rising livestock population owing to increasing meat consumption and the rising integration of advanced technologies, such as IoT and AI. In addition, a growing focus on early disease detection, particularly after the COVID-19 pandemic, is anticipated to drive Saudi Arabia Livestock Monitoring System Market during the period in analysis.
Livestock Monitoring System – Overview
Livestock management, often referred to as precision livestock farming or livestock monitoring, uses Internet of Things (IoT) enabled devices to track and monitor the health of animals, mostly cattle. IoT-enabled livestock management system uses IoT technology to manage and monitor livestock, giving farmers real-time data on their animals' health, environment, and behavior. Livestock monitoring technologies may be used for more than just monitoring health; they can also be used for temperature tracking to identify the peak of mating season or for collecting and storing historical data on preferred grazing places.
Saudi Arabia Livestock Monitoring System Market
Growth Drivers
Rising Focus towards Early Disease Detection
Saudi Arabia has been significantly focusing on maintaining the health of livestock, particularly animals that are meant for human consumption, after the COVID-19 pandemic outbreak. Livestock monitoring systems help farmers track data related to the health and behavior of their animals, including their feeding habits and water & food quality. Monitoring the health and vitality of animals in real time allows farmers to take quick measures to treat their animals and prevent the spread of diseases. They can quickly identify which livestock is afflicted and which is not, eliminating the need to personally examine each animal's vitals to determine whether a sickness has spread. Hence, Saudi Arabia Livestock Monitoring System Market is expected to grow at an accelerated CAGR over the forecast period, primarily due the heightened focus on ensuring the health of livestock.
Challenges
High Initial Cost of Livestock Monitoring System
The high cost involved in setting up livestock monitoring systems acts as a major restraining factor for the growth of Saudi Arabia Livestock Monitoring System Market. Farmers are required to invest heavily in advanced technologies, such as GPS systems, robotic equipment, automation and control devices, and others, resulting in high installation and maintenance costs. Along with the initial investment, the livestock monitoring system also demands efficient farming tools and skilled farmers to handle advanced technologies to the fullest extent to ensure maximum return. It may limit the adoption of livestock monitoring systems, particularly among small farmers. Consequently, the requirement of high initial investments is anticipated to limit the growth of the Livestock Monitoring System Market in Saudi Arabia.
Impact of Escalating Geopolitical Tensions on Saudi Arabia Livestock Monitoring System Market
Escalating geopolitical tensions among countries across regions, particularly in Middle East, could have a significant impact on the growth of Saudi Arabia Livestock Monitoring System Market. Trade restrictions, sanctions, and diplomatic conflicts can disrupt supply chains, leading to shortages of equipment, software, and trained professionals, and increased production costs. Political tensions may also hinder international trade agreements, affecting import and export activities. Additionally, political instability in key trading partners can result in fluctuating prices and reduced market confidence. The uncertainty caused by geopolitical issues can lead to cautious consumer spending and investments, thereby restraining market growth. Consequently, maintaining stable political relations is crucial for the sustained growth of Saudi Arabia Livestock Monitoring System Market.
Saudi Arabia Livestock Monitoring System Market
Segmental Coverage
Saudi Arabia Livestock Monitoring System Market – By Offering
Based on the offering, Saudi Arabia Livestock Monitoring System Market is segmented into hardware, software, and services. The hardware segment holds the largest share in Saudi Arabia Livestock Monitoring System Market. Hardware, such as sensors, GPS, and other devices, plays a major role in boosting farm productivity through data analytics and forecasting. The software segment is projected to grow at the highest rate during the forecast period. These software platforms facilitate livestock data collection and offer multiple applications suitable for livestock monitoring.
Saudi Arabia Livestock Monitoring System Market – By Livestock Type
By livestock type, Saudi Arabia Livestock Monitoring System Market is divided into cattle, poultry, and other segments. The poultry segment accounts for the highest share of the market by livestock type. The rising demand for poultry meat and eggs in Saudi Arabia as a result of rising demand for animal protein and consumer shifts towards low-fat and high-protein diets, is boosting the growth of poultry farming across the Kingdom. In addition, expanding tourism and boosting the hospitality and retail sectors are expected to fuel the demand for poultry products in the country, which may propel the adoption of livestock monitoring systems in the poultry market segment.
Saudi Arabia Livestock Monitoring System Market – By Application
On the basis of application, Saudi Arabia Livestock Monitoring System Market is segmented into milk harvesting, breeding management, feeding management, and others. The feeding management system dominates Saudi Arabia Livestock Monitoring System Market. Farming animals need a continuous supply of food and water for their better health. Timely and balanced feeding of animals is necessary to ensure their well-being and reduce the chances of diseases, parasites, and illness. The milk harvesting segment is expected to grow at a considerable rate since manual milking is slow and time-consuming.
Competitive Landscape
Major companies in the highly competitive Saudi Arabia Livestock Monitoring System Market include AI/ML Programming, TRACKING, Al-Maha Systems, STMicroelectronics, Dataiku, and Fancom. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Million |
Product/ Service Segmentation |
Offering, Livestock Type, Application |
Key Players |
AI/ML Programming, TRACKING, Al-Maha Systems, STMicroelectronics, Dataiku, Fancom |
By Offering
-
Hardware
-
Software
-
Services
By Livestock Type
-
Cattle
-
Poultry
-
Others
By Application
-
Milk Harvesting
-
Breeding Management
-
Feeding Management
-
Others
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia Livestock Monitoring System Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Livestock Population
- Rising Demand for Livestock Products
- Government Support
- Increasing Focus on Animal Health
- Restraints
- High Initial Costs
- Lack of Technical Expertise
- Opportunities
- Increasing Adoption of Precision Farming
- Expansion of Dairy and Poultry Sectors
- Adoption of IoT and AI
- Challenges
- Fragmented Market
- Regulatory Challenges
- Growth Drivers
- Technological Advancement/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Livestock Monitoring System Market: Marketing Strategies
- Saudi Arabia Livestock Monitoring System Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- Market Share & Forecast
- By Offering
- Hardware
- Software
- Services
- By Livestock Type
- Cattle
- Poultry
- Others
- By Application
- Milk Harvesting
- Breeding Management
- Feeding Management
- Others
- By Offering
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offering
- Saudi Arabia Livestock Monitoring System Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Mergers, Acquisitions, Partnerships)
- Impact of Escalating Geopolitical Tensions on Saudi Arabia Livestock Monitoring System Market Industry
- Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- AI/ML Programming
- TRACKING
- Al-Maha Systems
- STMicroelectronics
- Dataiku
- Fancom
- Other prominent players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumption & Limitation
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Saudi Arabia Livestock Monitoring System Market Segmentation
Figure 2 Saudi Arabia Livestock Monitoring System Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Saudi Arabia Livestock Monitoring System Market Size, By Value (USD Million), 2019–2030
Figure 5 Saudi Arabia Livestock Monitoring System Market Share, By Offering, By Value, 2019–2030
Figure 6 Saudi Arabia Livestock Monitoring System Market Share, By Livestock Type, By Value, 2019–2030
Figure 7 Saudi Arabia Livestock Monitoring System Market Share, By Application, By Value, 2019–2030
List of Tables
Table 1 Saudi Arabia Livestock Monitoring System Market Share, By Offering, By Value, 2019–2030
Table 2 Saudi Arabia Livestock Monitoring System Market Share, By Livestock Type, By Value, 2019–2030
Table 3 Saudi Arabia Livestock Monitoring System Market Share, By Application, By Value, 2019–2030
Table 4 AI/ML Programming Company Overview
Table 5 AI/ML Programming Financial Overview
Table 6 TRACKING Company Overview
Table 7 TRACKING Financial Overview
Table 8 Al-Maha Systems Company Overview
Table 9 Al-Maha Systems Financial Overview
Table 10 STMicroelectronics Company Overview
Table 11 STMicroelectronics Financial Overview
Table 12 Dataiku Company Overview
Table 13 Dataiku Financial Overview
Table 14 Fancom Company Overview
Table 15 Fancom Financial Overview
Market Segmentation
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