(PharmaNewsWire.Com, June 24, 2020 ) Market Overview The Global Animal Tracking Market is expected to grow at a CAGR of 10.14% during the forecasting period (2020-2027). Animaltracking devices helps in monitoring and understanding the movements of individuals and group move within restricted area and migrate across the oceans and continents. The key benefits associated with usage of tracking devices for animals includes easy animal identification, ability to conduct frequent health monitoring activities remotely, early mastitis detection and others. Increasing consumer demand for cost-effective health & behavioral monitoring and favorable government policies are primary factors driving the global animal tracking market.
Market Dynamics: Increasing demand for highly efficient tracking equipment from commercial cattle grower to monitor behavior of their cattle is the primary factor driving the global animal tracking market. Rapidly changing environmental conditions, increasing interests among the cattle growers towards advanced behavioral and health monitoring of their species is expected to further boost adoption of tracking devices in animal farms and zoos over the forecast period. It is likely that the usage of tracking devices increase milk yield by 15% in dairy cattle. Increasing concerns over the farmers towards preventive health maintenance of their animals to boost the annual yield is expected to boost the utilization of animal tracking during next few years. Increasing adoption of tracking devices by the animal organization to monitor the poaching activities of various wildlife animals is additionally driving the global animal tracking market during forecast period. Moreover, increasing research activities across the major developed nations towards behavioral analysis of various species through tracking devices is further expected to boost the market for Animal Tracking globally during forecast period. However, high cost of the existing devices and lack of awareness among the communities regarding advanced animal tracking devices hindering the growth of animal tracking market globally during forecast period.
Market Segmentation Analysis Global animal tracking market is segmented on the basis of product into GPS tags, Argos Doppler tags, electronic tags, and others. GPS tags dominate the global animal tracking market owing to high technological and economical variance over its other compatriots. Current GPS animal tags has the potential to calculate the location of an animal at specific time intervals using positions estimated by network of satellites. Various body attachments used through GPS technology includes collar attachments, harness attachments, direct attachment and others. Increasing adoption of GPS tags by the scientists, farmers and other wildlife communities to prevent poaching activities due to its high efficiency in delivering precise location of respective species is further expected to boost the market for GPS tags globally during forecast period.
Market Geographical Analysis By region, the global animal tracking market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. North America is expected to dominate the global animal tracking market owing to high presence of stringent government regulations and policies towards implementation of animal tracking equipments in current farming practices. The United States Department of Agriculture mandates and regulations regarding the health and safety of US livestock is expected to boost the adoption of animal tracking devices during forecast period. High presence of commercial farming communities associated with adoption of advanced tracking equipment for the healthy maintenance of cattle and other livestock is further expected to boost the market for animal tracking equipment in North America during forecast period.
Market Competitive Trends Global animal tracking market is currently undergoing huge R&D activities for the developments of novel technologies with higher batter life. New product launches with higher battery life, lighter in weight properties is the major strategy adopted by the prominent players in the global animal tracking market. In October 2019, Find My launched its new Find My e-Bell Model 2 Collar animal collar which is robust, smaller, lighter, and possess longer-life replaceable battery. In July 2019, San Francisco based animal tracking devices manufacturer launched pet wearables Whistle Go & Whistle Go Explore which has inherent ability to track animal location, activity and health simultaneously. Some of the key players in the global animal tracking market includes Telonics, Inc., Cellular Tracking Technologies LLC, Telemetry Solutions, Inc., Digital Animal, are among many other companies.
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