The Automatic Milking System market is projected to grow at a CAGR of 1.59% during the forecast period. The continuously increasing global population has been a major factor shaping the growth of this market. According to data from the United Nations, the world, in 2017, had a total population of nearly 7.53 billion and this figure is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050. This increase in population has been affecting the availability of food and dairy products, thus increasing the demand for advanced processes and techniques which can help producers meet this demand. This is increasing the demand for automatic milking systems. The increasing focus of dairy farm owners on improving their margins is another factor contributing to the growing demand for these systems. High labor costs and significantly high costs associated with the cleaning and maintenance of herds and dairy harm are steering many farm owners towards automatic milking systems as these systems do not require much manual labor and at the same time, reduce the waste generation in the farms. However, the high cost of these systems is restraining their adoption, especially in various emerging economies. Low financial support from the governments is further restraining the adoption of these systems despite the significant cost advantage they provide in the long run. Geographically, the market has been segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America holds a major share of this market and this large share is mainly due to the high spending capacity of dairy farm owners in developed economies.
DRIVERS
Rising demand for advanced processes and techniques
Rising global population
RESTRAINTS
High cost
Lack of awareness
INDUSTRY UPDATE
In June 2018, DeLaval launched the VMS milking system V300 and the OptiDuo robotic feed pusher.
Recently in March 2019, The Fullwood Packo Diary Group acquired Mewitec BV which imports, retails, installs, and provides technical support for Fullwood Packo smart milking and cooling solutions in The Netherlands.
The major players profiled in the Automatic Milking System market include DeLaval Inc., GEA Group Aktiengesellschaft, Lely, SAC, Fullwood Packo, miRobot, BouMatic[1], Hokofarm Group B.V., and Afimilk Ltd.
Segmentation:
The Automatic Milking System Market has been analyzed through the following segments: