According to a new report, published by KBV research, The Global Artificial Intelligence (AI) In Animal Health Market size is expected to reach $3.6 billion by 2030, rising at a market growth of 18.1% CAGR during the forecast period.
The Production Animals segment is exhibiting a CAGR of 18.8% during (2023 - 2030). Population expansion, urbanization, and shifting dietary choices all increase the demand for animal proteins like meat and dairy products on a global scale. The need for effective and sustainable livestock production is fueled by this, which increases consumer knowledge of and adoption of precision livestock farming solutions. Animal behavior, activity levels, and vital signs may be monitored and observed remotely using wearable technology and AI-enabled gadgets. It reduces the need for frequent veterinary visits by helping in the early detection of health problems, ensuring prompt action.
The Hardware segment is leading the Global Artificial Intelligence (AI) In Animal Health Market by Solutions in 2022; thereby, achieving a market value of $2.3 billion by 2030. The potential applications in animal health grow as AI algorithms become more advanced and capable of tackling complex tasks. Due to the significant need for diagnostic tools or wearables, this segment is expanding. The demand for wearables is fueled by increased consumer demand for real-time information, live tracking, and growing concern for the safety and security of animals and pets.
The Identification, Tracking, & Monitoring segment is showcasing a CAGR of 18.5% during (2023 - 2030). With numerous developments, technology is now feasible to monitor the location, heart rate, and movement of non-human animals, often using a device that is physically attached to the observed animals. Using computer vision for animal monitoring offers the opportunity for non-intrusive livestock monitoring. Visual AI has appeared as one of the most favorable technologies to automate inspection, mainly because of the rising demand for animal monitoring systems.
The North America region dominated the Global Artificial Intelligence (AI) In Animal Health Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.3 billion by 2030. The Europe region is poised to grow at a CAGR of 17.9% during (2023 - 2030). Additionally, The Asia Pacific region would register a CAGR of 18.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/artificial-intelligence-in-animal-health-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Zoetis, Inc., Merck & Co., Inc., Heska Corporation (Antech Diagnostics, Inc), SignalPET, LLC, VetCT Specialists Limited, Veterinary Imaging Center of San Diego, Inc (Vetology), OneCup AI, Petriage, ImpriMed, Inc., and IDEXX Laboratories, Inc.
By Animal type
By Solutions
By Application
By Geography
Companies Profiled
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