The research study involved 4 major activities in estimating the size of the livestock identification market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information required for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market’s value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from both market and technology perspectives.
In the livestock identification market report, the global market size has been estimated using both the top-down and bottom-up approaches, along with several other dependent submarkets. The major players in the market were identified using extensive secondary research, and their presence in the market was determined using secondary and primary research. All the percentage shares splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after understanding the livestock identification market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions— North America, Europe, Asia Pacific, and the Rest of the World. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.
After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the report.
Note: “Others” includes sales, marketing, and product managers
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches, along with data triangulation methods, have been used to estimate and validate the size of the livestock identification and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
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Identifying top-line investments and spending in the ecosystem and considering segment-level splits and major market developments
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Identifying different stakeholders in the livestock identification market that influence the entire market, along with participants across the supply chain
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Analyzing major manufacturers and service providers in the livestock identification market and studying their solutions and service portfolios
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Analyzing trends related to the adoption of livestock identification solutions and services
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Tracking recent and upcoming market developments, including investments, R&D activities, solution and service launches, collaborations, mergers and acquisitions, and partnerships, as well as forecasting the market size based on these developments and other critical parameters
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Carrying out multiple discussions with key opinion leaders to identify the adoption trends of livestock identification solutions and services
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Segmenting the overall market into various other market segments
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Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
Livestock Identification Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size by the market size estimation process explained in the earlier section, the overall livestock identification market has been divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply side perspectives. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.
Market Definition
Livestock identification, also known as animal identification, refers to gathering and keeping accurate records of individual farm animals or groups of farm animals so that they can be easily tracked from their birth through the marketing chain. It provides essential data such as animals' birth dates, production records, health and medical history, and other important livestock management information.
Key Stakeholders
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Suppliers of raw materials
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Technology investors
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Manufacturers and suppliers of a wide variety of livestock identification solutions
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Integrators, hardware and software suppliers, and service providers of livestock identification solutions
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Government bodies such as regulatory authorities and policymakers for the livestock industry
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Venture capitalists, startup companies, and private equity firms
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Technology developers
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Distributors, resellers, and traders
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Hardware component suppliers and distributors
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Standardization and testing firms
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Associations, forums, and alliances related to the livestock industry
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Research institutions and organizations
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Market research and consulting firms
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End users
Report Objectives
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To define, describe, and forecast the livestock identification market in terms of value on the basis of offering, device lifecycle, livestock type, farm size, application and region.
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To forecast the market size for various segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and Rest of the World
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To define, describe, and forecast hardware offering by tag type in livestock identification market in terms of volume
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To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the livestock identification market
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To study the complete value chain and related industry segments for the livestock identification market
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To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
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To analyze trends and disruptions; pricing trends; investment and funding scenario; patents and innovations; trade data (export and import data); regulatory environment; Porter's five forces analysis; case studies; key stakeholders & buying criteria; technology trends; the market ecosystem; and key conferences and events related to the livestock identification market.
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To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
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To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders.
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To analyze competitive developments such as solution and service launches/developments, expansions, acquisitions, partnerships, collaborations, agreements, and research and development (R&D) activities carried out by players in the livestock identification market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Country-wise Information:s
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Country-wise breakdown for North America, Europe, Asia Pacific, and Rest of the World
Company Information:
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Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Livestock Identification Market