Saudi Arabia Livestock Monitoring System Market Size More Than Doubles to Reach USD 33.4 Million by 2030
Saudi Arabia Livestock Monitoring System Market is flourishing because of the growing livestock population and rising demand for livestock products.

Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Livestock Monitoring System Market size at USD 16.3 million in 2023. During the forecast period between 2024 and 2030, Report Ocean expects Saudi Arabia Livestock Monitoring System Market size to expand at a CAGR of 10.80% reaching a value of USD 33.4 million by 2030. The growing population of animals due to rising meat consumption and the increasing incorporation of cutting-edge technologies like IoT and AI are key driving factors for Saudi Arabia Livestock Monitoring System Market. Furthermore, over the projected period, Saudi Arabia livestock monitoring system market is also expected to be driven by an increasing emphasis on early illness identification, particularly in the wake of the COVID-19 pandemic.

Opportunity - Rising demand for livestock products

Saudi Arabia is witnessing a significant spike in the demand for livestock products, including meat, dairy products, and eggs, owing to rising health consciousness among consumers and an expanding tourism and hospitality sector. The demand for chicken parts is on the rise following the expansion of food catering services in the country. The Hajj pilgrimage, which attracts millions of people across the world every year, also plays a crucial role in propelling the growth of the catering market in Saudi Arabia, which directly influences the demand for poultry consumption in the Kingdom. As a result, livestock farmers are increasingly investing in livestock monitoring systems to improve their production and boost their revenue, propelling overall market growth.

Cattle Segment Held Largest Market Share

Based on livestock type, Saudi Arabia Livestock Monitoring System Market is segmented into cattle, poultry, and others. The cattle segment covers substantial share in Saudi Arabia Livestock Monitoring System Market. The growth of the market is mainly attributed to the increasing consumption of dairy products and beef in the Kingdom. Saudi Arabia has imposed strict regulations regarding the quality and safety of animal products to prevent the spread of zoonotic diseases, which also fuels the adoption of livestock monitoring systems.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Livestock Monitoring System Market

Intensifying geopolitical tensions can have a multifaceted impact on Saudi Arabia Livestock Monitoring System Market. Disruptions in supply chains due to trade restrictions, sanctions, and diplomatic conflicts may lead to shortages of devices and software and increased production costs. Political and trade tensions could also disrupt international trade agreements, affecting both import and export activities. Furthermore, political instability in key trading partners may cause price fluctuations and diminish market confidence. The resulting uncertainty might prompt consumers to adopt a more cautious approach to spending and investment, thereby potentially restraining market growth. Therefore, maintaining stable geopolitical relations is essential for fostering sustainable development in Saudi Arabia Livestock Monitoring System Market.

Competitive Landscape

Saudi Arabia Livestock Monitoring System market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include AI/ML Programming, TRACKING, Al-Maha Systems, STMicroelectronics, Dataiku, and Fancom. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Saudi Arabia Livestock Monitoring System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Livestock Monitoring System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.