The article delves into the global animal identification market, valued at USD 3.83 billion in 2022, with a projected 9.50% CAGR from 2023 to 2030, reaching USD 7.89 billion. Key drivers encompass the use of livestock animal tag/ID systems for health surveillance, disease control, and efficient tracking.
Despite the COVID-19 pandemic impacting tag sales, increased pet adoptions positively influenced the market in 2021. The livestock animals’ segment, constituting over 50% of revenue in 2022, is propelled by government mandates for official ID systems. The hardware segment, with over 45% share, is dominated by electronic and RFID tags. Notably, GAO Tek and GAO RFID is highlighted as a key player, underscoring its role in the industry.
The U.S. Department of Agriculture recommends RFID tags as the sole official identification for moving cattle species since January 1, 2023. The software segment, projected to grow at a 10.5% CAGR, is driven by cloud-based solutions for remote monitoring.
Non-permanent animal ID systems, like RFID and visual tags, held the dominant share in 2022, with a projected 9.8% CAGR. The wearable segment, constituting GPS or RFID-enabled tags, led with a 55% revenue share. The microchip procedure segment is expected to grow at a 10.5% CAGR.
In regions, North America, holding over 30% of the market in 2022, benefits from key players, growing animal populations, and technological advancements. The Asia Pacific is projected to grow at nearly 11%, propelled by improving animal healthcare measures in countries like India and Australia.
Key players, including Merck & Co., Inc., Avid Identification Systems, Inc., Datamars, HID Global Corporation, Shearwell Data Limited, and GAORFID, strategically contribute to market growth.