Animal Tracking Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Animal Tracking Market is segmented By Product (GPS Tags, Argos Doppler tags, Electronic Tags, Others), By Deployment (Mobile Phones, PC’s, Others), By Animal Type (Cattle, Horses, Sheep, Companion Animals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

The global animal tracking market reached USD 2.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4.9 billion by 2030. The global animal tracking market is expected to exhibit a CAGR of 11.5% during the forecast period (2024-2031).  Animal tracking refers to the field of business that focuses on creating and offering tools for tracking and keeping tabs on the whereabouts, behavior, and well-being of animals.

Due to advancements in tracking technology and the rising demand for wildlife conservation, livestock management, and research purposes, this market has experienced tremendous growth in recent years.

Market Summary

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Market Dynamics

The Increasing Need For Wildlife Conservation Is Driving The Global Animal Tracking Market Growth.

The balance of our ecosystem is vitally dependent on the presence of wildlife. It protects our biological diversity and preserves our cultural ethos, among other things. Wildlife is necessary for maintaining a vital equilibrium that allows humanity to survive and develop. Many species are in danger of going extinct owing to habitat loss, poaching, climate change, and other threats, wildlife conservation has become crucial. The main methods for protecting endangered species and comprehending the richness of an ecosystem are wildlife monitoring and tracking. Results in, increasing demand for animal tracking solutions in the market.

Technical Limitations Are Hampering The Global Animal Tracking Market Growth

Numerous technological issues can limit the effectiveness of animal tracking in particular locations or with particular species. Obstacles created by nature or man can interfere with tracking devices that use radio telemetry or GPS signals. Signals can be blocked by dense vegetation, structures, or topographic obstacles, which can impair accuracy or even cause signal loss. The range of some tracking methods, like radio telemetry, is constrained. This can make it difficult to track animals that cover great distances or have extensive home ranges, especially those that migrate or move widely.

Market Segment Analysis

The global animal tracking market is segmented based on product, deployment, animal type, and region.

The GPS Tags Segment Is Expected To Hold A Dominant Position In The Market Over The Forecast Period.

The GPS tags segment accounted for the highest market stake accounting for approximately 1/2nd of the animal tracking market in 2022. One of the technologies that is utilized in a vast array of applications nowadays is GPS. One of the applications tracks animals and does routine checks on them. With the help of this tracking device, users see the location and path taken by an animal from any other remote location. It also includes an online application that gives you the target's precise position. 

With the help of this technology, users can track a target in any weather. Both GPS and GSM technology are used in this system. Through the use of transmitters that are lighter, more durable, more accurate, and less expensive than existing automatic positioning tags, this technology allows for the simultaneous tracking of thousands of animals.  

Source: DataM Intelligence Analysis (2023)

Market Geographical Share

North America Holds A Dominant Position In The Global Animal Tracking Market.

North America is estimated to hold around 36.4% of the total market share throughout the forecast period. Millions of cats spend at least some of their time outdoors, 34% of pet owners have lost a cat at least once, and every year, six million animals in the United States alone enter shelters. Tractive strives to protect pets and keep them in touch with their families while also providing cat parents with fresh perspectives on the private lives of their beloved felines.

For instance, in January 2022, Tractive, the most dependable GPS gadget in the world for 24-hour, real-time position tracking for animals, has now introduced a new LTE GPS pet tracker designed just for cats. Now sees the North American debut of these brand-new cat-specific devices, with the United States now leading the world in cat ownership.

Source: DataM Intelligence Analysis (2023)

Companies and Competitive Landscape

The major global players in the market include Telonics, Inc., Telemetry Solutions, Inc., MiniFinder Sweden AB, Ecotone Telemetry, Whistle, Hidrolab Ltd, Cellular Tracking Technologies LLC, Advanced Telemetry Systems, Inc., Animal Trackem, and Digital Animal among others.

Russia Ukraine Conflict Analysis

The Russia-Ukraine war may affect the animal tracking market due to disturbance in cooperation being impacted during times of geopolitical instability and economic uncertainty. The International Cooperation for Animal Research Using Space (ICARUS), a global monitoring system for animals, has been disrupted as a result of Russia's invasion of Ukraine. The isolation of Russia has also hampered environmental discussions, slowed down international environmental cooperation, and drastically altered international and domestic policy priorities. 

Artificial Intelligence Analysis:

Artificial intelligence (AI) is increasingly being used in the animal tracking market to improve various aspects of the user’s experience. Automated wildlife monitoring and tracking using artificial intelligence (AI) by analyzing data from several sources, including satellite photography, drones, and acoustic sensors.

Wildlife conservation might benefit from learning various AI or machine learning methods, such as object identification algorithms, which may be used to recognize and classify animals depending on their species. The Normalised Difference Vegetation Index (NDVI) can be used to quantify a particular species in the area by inferring changes in animal populations from the number of plants in the area.

Key Developments

• In January 2023, Astrocast, a global nanosatellite IoT network operator, and Digitanimal, a smart solutions developer in livestock tracking devices and solutions, partnered to develop a Satellite IoT (SatIoT) solution. Both businesses are working together to market a cutting-edge tracking tool that connects to Astrocast's extensive satellite network. Farmers will be able to track cattle remotely due to the SatIoT-based collar. This will enable them to manage their cattle using Agriculture 4.0 agricultural techniques.

Why Purchase the Report?

• To visualize the global animal tracking market segmentation based on the product, deployment, animal type, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of animal tracking market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global animal tracking market report would provide approximately 61 tables, 59 figures, and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies