The global dairy herd management market is projected to grow at a CAGR of ~7.8% from 2016 to 2021 and expected to reach USD 2.90 billion by 2021. Based on regions, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North American market is segmented into the U.S. and Canada; the European market is segmented into Germany, France, the U.K., and the Rest of Europe (RoE); and the Asia-Pacific market is segmented into China, New Zealand & Australia, India, and the Rest of Asia- Pacific (RoAPAC). In 2016, Europe is estimated to account for the largest share of the global dairy herd management market, followed by North America. The increasing number of dairy cows, high efficiency ratio along with positive growth rate of milk production, significant contribution of dairy industry, and large pool of dairy exports in Europe are driving the market growth in the region. The APAC dairy herd management market is expected to witness the highest growth during the forecast period owing to the increasing demand for milk and milk products as a result of the rising population, growing disposable incomes, rapid urbanization, and implementation of government initiatives towards the development of the dairy farming industry.
The dairy herd management market is growing and competitive, with a significant number of large and small players. The competitive intensity within the market is expected to increase due to growing number of new product launches and technological advancements. The high market penetration and strong brand recognition of market leaders such as DeLaval (Sweden) and GEA Group AG (Germany) have created entry barriers for new players.
During the next five years, the dairy herd management market is expected to witness remarkable growth due to the increasing herd size of dairy farms, growing production and consumption of milk and dairy products, and rapid urbanization in developing countries. As a result, the dairy herd industry will witness the inflow of new players in the coming years. Several companies such as BouMatic (U.S.), DeLaval (Sweden), GEA Group AG (Germany), Lely Holdings S.A.R.L (Netherlands), and SCR Dairy, Inc. (Israel) are investing in high-growth regions to gain significant profits and increase their shares in the global dairy herd management market.