ID: MRFR/SEM/2491-HCR | February 2021 | Region: Global | 100 pages
The global feeding system market is progressing at a rapid pace over the years and will touch optimum levels in the upcoming times. The feeding system market valuation is anticipated to reach around USD 1411.21 million by the year 2023, and the CAGR of the market is presumed to be 8.6 percent during the forecast period (2017-2023).
Major market events such as technological developments, product launches, unique business strategies, and mergers and acquisitions are tracked down by the feeding market system. The prominent companies are focusing mainly on technological advancements in these systems and launch new products to expand the feeding system market size of dairy farms worldwide. According to the feeding system market forecast, the cost-saving feature that comes with the adoption of the feeding system is expected to boost the feeding system market growth in the forecast years.
With the advent of radio frequency identification, the feeding system market demand is also rising to a greater extent. In recent years, the escalating utilization of automated and control devices is enabling the global feeding system market to exhilarate to maximum heights. As per the feeding system market analysis, the sensing and monitoring devices help to manage operations properly that is increasing the demand of the feeding system industry. In livestock farming, the global system positioning technologies have surged a progressive path for the hardware segment of the feeding system market in the coming years. The rising demand for automated feeding systems in livestock farming has resulted in the further evolvement of the feeding system market share.
The recent developments in the feeding system market trend create immense demand for feeding management in the livestock farming sector. The introduction of unique and innovative products by the major market players is prompting to raise the demand for dairy products across the world. All these reasons drive the potential of the feeding system market to maximum heights.
The report depicts the feeding system market structure and gives an idea about the expected valuation of the market and growth rate during the forecast period. A brief description is provided of the effect of the COVID19 pandemic on the feeding system industry. It offers an in-depth insight into the market dynamics along with the opportunities and challenges of the feeding system market. It highlights important players of the global feeding system market and tells about different segments and sub-segments of the market. The report also explains certain geographies that will have an influence on the feeding system market growth in the forecast period.
The outbreak of the COVID19 pandemic impacted the entire world both economically and health-wise. The global economy has been declined to lower growth rates and will take time to gain back the momentum again. Businesses and working sectors faced numerous challenges during the pandemic and have to take the burden of heavy financial losses. The lockdown restrictions forced the industrial operations to shut down for an uncertain time period. Due to the restrictions, many industries encountered problems in continuing manual operations, which encouraged them to shift towards advanced automated feeding systems. The rising adoption and implementation of automated feeding systems have elevated the potential of the global feeding system market.
With the surfacing of modern automated and control devices, the feeding system market demand rose to greater heights which helped in maintaining a steady growth of the market in these difficult times. Easy sensing and monitoring systems benefit in managing livestock farming will lead to the escalation of the feeding system market growth in the near future.
Major Drivers of the market
The global feeding system market is surging rapidly over the years and will grow exponentially in the coming years. The increasing utilization of automated and control devices has led to the expansion of the feeding system market size. With the rise in the demand for global system positioning techniques for the maintenance of livestock farming, the requirement of the feeding system industry is also elevating. The sensing, as well as monitoring devices, helps to control and supervise the operations perfectly, which in turn increases the feeding system market demand during the forecast years. As per the feeding system market forecast, the immense utilization of automated feeding systems has escalated the growth of the dairy products market.
The increasing use of radio frequency identification allows access to easy handling and operating feeding managements for livestock farming. The automated feeding systems have enabled the immense rise in the feeding system market demand and will soar up the market growth during the forecast period.
Significant Opportunities for the market
With the escalation of the utilization of automated systems in feeding management and heavy demand by the livestock farm owners, the potential of the global feeding system market escalated. The innovative and unique products introduced by prominent companies enable the rise in the demand for dairy products all over the world. The cost-effectiveness that comes with the implementation of the feeding systems is presumed to raise the feeding system market growth in the next many years. In livestock farming, the global system positioning technologies have created opportunities for the growth of the feeding system market share.
The coronavirus epidemic has resulted in the devastation of the global economy and adversely impacted the feeding system market. During the pandemic, all industrial operations were put at a halt which created disruptions in the supply chain. The manual operation and processes remained extremely difficult to execute, due to which a large shift towards automated feeding systems was witnessed. This immense utilization of feeding systems helped the global feeding system market maintained subsequent growth even in these harsher circumstances.
Market growth challenges
The global feeding system market has innumerable opportunities that propel the market to greater heights. However, the market has certain challenges that restrict the feeding system market growth. The setup cost associated with the feeding systems may seem expensive for the small and medium farmers of livestock. Such challenges can hinder the growth of the feeding system market share during the forecast years.
Value Chain Analysis
As per the feeding system market forecast, the revenue generated from the global feeding system market is skyrocketing in recent years and is anticipated to reach optimum limits in the near future. By the end of 2023, the feeding system market value will attain its momentum and surpass the historical growth rates. The value of the feeding system market share will evolve at a faster rate in the coming years.
The global feeding system market is fragmented into various segments on the basis of software, hardware, product, analysis, end-users, services, and region. The hardware, software, and services segment belongs to the offerings of the feeding system market. By software, the feeding system market segment includes cloud-based and local/web-based systems. On the basis of hardware, the feeding system market size segmentation comprises sensing and monitoring devices and automated and control systems. The global feeding system market segmentation on the basis of services consists of assisted professional services, system integration and consulting, connectivity services, maintenance, and support services, managed services, and other services.
On the basis of product, the global feeding system market segmentation involves conveyor feeding systems, rail-guided feeding systems, and self-propelled feeding systems. The feeding system market segmentation on the basis of analysis consists of sales and revenue analysis, production analysis, supply and consumption analysis, and others. On the basis of end-users, the feeding system market size segmentation includes dairy farms, swine farms, poultry farms, equine farms, and several other farms. By region, the global feeding system market is divided into certain geographies such as North America, Europe, Asia-Pacific, and the remaining parts of the world.
The feeding system market analysis is studied in various geographies like North America, Europe, Asia-Pacific, and the remaining parts of the world. In Europe, automated feeding systems are used for several years, but the usage of these systems is more in the US over a recent couple of years. Such systems allow increased facilitation of calves socially, redirects the labor from just feeding to the management of the calves, milk delivery consistency, and additional milk consumption in the smaller meals. All these facilities raise the feeding system market share in North America.
The European region shows positive growth in the feeding system market during the forecast years as the reduction in manual feeding expenditure shows the immense adoption and implementation of automated feeding systems. Asia-Pacific region shows a substantial increase in the feeding system market demand to escalate the profitability of the dairy farmers and will increase its growth rate in the near future.
Competitive Landscape of the market
The global feeding system market prominent market players are:
Frequently Asked Questions (FAQ) :
Global feeding system market is projected to grow at approximately 8.6 % CAGR during the assessment period (2017-2023).
The valuation of the global feeding system market is estimated to increase to USD 1,411.21 MN by the end of 2023.
Increasing use of automated & control devices and sensing & monitoring devices, such as radio frequency identification and global system positioning technologies in the livestock farming are major tailwinds pushing the growth of the global feeding system market.
North America holds the largest share in the global feeding system market, followed by Europe and Asia Pacific region, respectively.
GEA Group AG (Germany), Cormall AS (Denmark), Lely Holding S.A.R.L (Netherlands), DairyMaster (Ireland), Agrologic Ltd (Israel), Rovibec Agrisolutions Inc. (Canada), Trioliet B.V. (Netherlands), DeLaval Holding AB (Sweden), and Cormall AS (Denmark), are some of the top players operating in the global feeding system capture.