Smart Collar Tag for Cow Market Size, Trends and Growth Analysis by 2027

The market for smart collar tags designed for cattle was valued at approximately US$ 243.1 million in 2019 and is projected to experience a compound annual growth rate (CAGR) of 10.9% from 2020 to 2027, ultimately reaching around US$ 513.8 million by 2027.

The integration of Internet of Things (IoT) technology into the livestock sector has introduced innovative solutions that enable dairy farmers to manage their herds more efficiently. Advanced technologies, including real-time monitoring of animal activities, automated feeding systems, and health tracking devices, have significantly enhanced the profitability for dairy producers. One of the primary drivers of market expansion is the cost-saving advantages associated with the use of these collars on cattle. Dairy farmers and ranchers are increasingly adopting smart collars to track and observe the activities of their livestock. IoT-enabled cattle-tracking collars provide remote access to the locations of the animals, which is crucial for safeguarding them against natural disasters, theft, injuries, and organized crime. The growing awareness of IoT technology among farmers and livestock owners is further propelling market growth.

For example, in January 2020, Chipsafer, a company specializing in livestock monitoring solutions, launched a new cattle management system featuring a solar-powered collar designed to combat cattle theft. This innovative solution was specifically developed to address the issue of cattle rustling in regions like Kenya.

The increasing preference among dairy farmers and ranchers for smart agricultural practices and livestock monitoring technologies is driving the demand for smart collars. Companies are enhancing their offerings by incorporating advanced sensors that provide improved monitoring and tracking capabilities. For instance, Sigfox, a provider of IoT technology, has introduced a range of wireless monitoring devices for livestock, including collars and tags. Ranchers are utilizing these smart collars to keep tabs on their cattle. Additionally, the cost-saving benefits associated with smart collars are leading to their wider adoption in livestock tracking applications. The global demand for wearable livestock trackers is on the rise, further supporting market growth. According to predictions from Sierra Wireless, the market for wearable livestock trackers is expected to reach US$ 2.5 billion by 2025. Such statistics, along with the growing acceptance of IoT technology in agricultural and livestock monitoring applications, are key factors driving market expansion.

The smart collar tag market for cattle is categorized based on product type and application. In terms of product type, the market is divided into GPS-based, radio-based, and other types. The radio-based segment held a larger share of the market during the forecast period. Regarding application, the market is segmented into tracking, training, and others. In 2019, the tracking segment represented a significant portion of the market.

The COVID-19 pandemic has had a detrimental impact on industries worldwide, with the global economy suffering greatly in 2020 and expected to continue facing challenges into 2021. The pandemic has caused substantial disruptions in key sectors such as agriculture and dairy. It has highlighted the vulnerabilities and risks associated with the current agricultural value chain model, prompting the livestock industry to reconsider its global supply chain strategies. Many livestock handlers who relied on local suppliers for raw materials have shifted their focus to alternative suppliers due to the pandemic. Notably, the price of one essential raw material, chips used in smart collar tags, experienced a decline. However, the overall demand for smart tags within the industry was significantly affected.

The total size of the smart collar tag market for cattle has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast for the smart collar tag market across all segments. Furthermore, it included an analysis of the market based on various segments across five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South America. Primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the smart collar tag market for cattle.

Key players in the market include Afimilk Ltd, BouMatic, Connecterra B.V., Cowlar Inc, CowManager B.V, HerdInsights, Lely, Moocall, Quantified AG, and SCR Dairy.