Asia Pacific Smart Collar Tags for Cow Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type; Application

The Asia Pacific smart collar tags for cow market is expected to reach US$ 124.3 million in 2027 from US$ 54.2 million in 2019. The market is estimated to grow with a CAGR of 12.0% from 2020 to 2027.

The growth of this market is attributed to the factors such as the rising need for cattle tracking solutions and an increasing demand in dairy farming applications. However, the market is expected to experience slow growth during the forecast period owing to the availability of substitute technologies.

The world’s population is growing at a faster rate. According to the Food and Agriculture Organization, the global population is expected to reach around 9.8 billion by 2050. To fulfil the needs of population, farmers need to produce 70% more food than current production. Similarly, the demand for dairy products would also soar creating a strong growth opportunity for dairy farmers. To enhance dairy farming operations, farmers are adopting new methods - such as precision livestock farming tools. Precision livestock farming system is a real-time monitoring management tool for farmers. The system provides timely information on the cow's activity and behavior at an individual level to the farmers. This information helps farmers to act immediately if something goes wrong during the production. The precision farming system is incorporated with the smart collar tags for cows. These collars are connected to robotic milking machines and they transmit the signal to start milking operations whenever the cow reaches the machine gates. Thus, increasing production of dairy products is creating the need for precision dairy farming tools, thereby propelling the growth of the smart collar tags for the cow market.

The technology helps to improve milk production with an enhanced detection level of cow estrous. Thus, countries such as India and China have a strong market potential for smart collar tags. For instance, in 2016, China's per capita consumption of dairy products was equivalent to 36.1 liters, which is around one-third of the world average. This indicates huge growth opportunity for dairy farm production. Thus, increasing production of dairy products is creating the need for precision dairy farming tools, thereby propelling the growth of the smart collar tags for cow market.

Due to the outbreak of COVID-19, the governments of various countries in APAC took necessary steps to reduce the spread of virus by announcing lockdowns, thus impacting the growth of the smart collar tags for cow market. The introduction of lockdowns has resulted in the halt of livestock farm projects in the region, which negatively impacted the growth of smart collar tags for cow in the region. However, after a prolonged lockdown, various countries have started easing the restrictions. For instance, India's government started the unlock phase, in which it allowed the farming activities to resume. However, Australia is still under lockdown.

Several livestock farms in China were highly impacted in Q1 2020. The production and demand for smart collar tags for cows in the country dropped during Q1 2020, followed by recovery in Q2 2020. The country is one of the biggest markets for smart collar tags for cows in the world. Also, Japan is one of the significant markets for smart collar tags for cows.

Based on product type, the Asia Pacific smart collar tags for cow market is segmented into GPS based, radio based, and others. The radio-based segment held the largest market share in 2019, and it is anticipated to register the highest CAGR in the market during the forecast period.

Based on application, the Asia Pacific smart collar tags for cow market is segmented into tracking, training, and others. The tracking segment held the largest market share in 2019, whereas the training segment is anticipated to register the highest CAGR in the market during the forecast period.

A few of the primary and secondary sources referred to while preparing the report on the Asia Pacific smart collar tags for cow market are the Food and Agriculture Organization (FAO), the Sierra Wireless company, among others.

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