The global RFID tags market for livestock management is expected to grow at a CAGR close to 14% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global RFID tags market for livestock management 2018-2022 under their consumer and retail library. (Graphic: Business Wire)
Global RFID tags market for livestock management segmentation by type of livestock and geography
Technavio’s report on the global RFID tags market for livestock management analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type of livestock, including cattle, sheep and goats. As projected in 2017, around 46% of the market share originated from cattle. The increasing population of cattle across the world and the simultaneous growth of calf crop is driving growth in the cattle segment.
Based on geography, the global RFID tags market for livestock management has been segmented into APAC, the Americas, and EMEA. As of 2017, 43% of the market share came from the Americas.
“Even though the Americas dominates the global RFID tags market for livestock management, the market share is expected to witness a decline of more than 1% by 2022. However, the Americas will continue to dominate the market through the forecast period,” says a senior analyst at Technavio for pet supplies research.
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RFID tags market for livestock management: competitive vendor landscape
The global RFID tags market for livestock management is highly concentrated because the five key vendors hold a major share of the market. Aleis, Allflex, HID Global, National Band & Tag Company, and Safe Tag are the key vendors in the market. The key vendors are focusing on increasing their global footprint and are expanding into developing countries through mergers and acquisitions or partnerships with the regional vendors.
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