Global Pet Wearables Market Analysis by Product, Component, Region and segments forecast till 2033
Market Overview
The Global Pet Wearables Market valued at USD 2,490 million in 2022 is anticipated to reach a value of USD 7,240 million in 2033, rowing at a CAGR of 14.6%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 2,490 Million |
Market Forecast in 2033 | USD 7,240 Million |
CAGR % 2023-2033 | 14.6% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Size, Component, company share, company heatmap, company Material Product Size capacity, growth factors and more |
Segments Covered | Product, Component |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Avid Identification Systems, Inc., Allflex USA Inc., Datamars, FitBark, Garmin Ltd., Invisible Fence, Link AKC, Loc8tor Ltd., PetPace LLC, Whistle Labs, Inc. and Voyce. |
Global Pet Wearables Market: Description
Pet wearables refer to devices that can be worn on the pet's body to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security. The use of pet wearables offers benefits, such as connecting humans to their pets, to track their daily activities and monitor their health using these devices. This monitoring generates data for food intake, heart, and respiratory rate and patterns and calories burnt by pets during the day. The market growth is supported by awareness among owners regarding the well-being of their pets. Further, the pet wearable market has attracted considerable funding over the last couple of years for an array of technology-enhanced products for pets, including cameras and wearables. The industry is still in its initial stages of development. However, it is still characterized by increasing competition among key stakeholders and the threat of new entrants. The focus of OEM will be the development of products with the capability of efficiently collecting health metrics.
IoT will play a crucial role in driving market growth in the future. Transmitting real-time data concerning pet health to veterinarians or pet owners will be supported by the connectivity offered by these devices. The non-invasive wearable sensor system combining photoplethysmograph (PPG), electrocardiogram (ECG), and inertial measurement units (IMU) is used to continuously monitor the health condition of pets integrated with the wireless technology, and handheld devices can make pet health monitoring easier.
Government authorities across various regions are investing heftily in the livestock industry to enhance productivity. In January 2020, the Japan government proposed a subsidy program to increase beef & dairy production by 2035. With the increasing number of animals per farm, the need for reliable and quality livestock products is projected to grow in the market. The use of IoT technology and the availability of low-cost livestock monitoring devices is likely to foster market expansion.
Segmental Analysis of Global Pet Wearables Market:
Product Insights
Smart harness equipped with numerous technologies and sensors to sense and monitor the pet’s posture, body language, and the sounds it makes. The smart harness also includes physiological sensors that monitor the pet’s heart rate and body temperature. The sensors not only track a dog's physical well-being but can offer information on a dog's emotional state, such as whether it is excited or stressed.
Component Insights
The smart pet collar is a device that connects wirelessly to a smartphone through Wi-Fi or Bluetooth and provides insights into pet such as their location, training activity, and more. It is a multi-purpose tool, unlike the existing traditional collar. This collar allows pet owners to track their pet using GPS technology, communicate with others using an LED display on the outside of the collar, and monitor, track and receive information and alerts about your pet wearable market.
Regional Insights
The Global Pet Wearables Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.
North America to continue to hold the largest market share during the forecast period. Increasing trend toward pet adoption and humanization, growing disposable income, and increasing per capita animal healthcare expenditure are the major growth drivers of the market. In addition, rising awareness of pet health and increasing adoption of innovative pet care products by growing number of tech-savvy owners are a few other significant factors for driving the growth of the pet wearable market in North America.
Competitive Analysis
Avid Identification Systems, Inc., Allflex USA Inc., Datamars, FitBark, Garmin Ltd., Invisible Fence, Link AKC, Loc8tor Ltd., PetPace LLC, Whistle Labs, Inc. and Voyce.
· In December 2018, Tractive launched a GPS tracker and activity monitor for cats. This new device enables cat owners to discover where their cats go, see how much time they spend on various locations, and find them whenever required.
· In June 2018 Wagz launched Wagz Explore Smart Collar-the pet wearable of its kind that combines real-time data, geofencing, and artificial intelligence to help owners keep track of their pets’ location and health.
Global Pet Wearables Market- Segmental Analysis
Based on Product
· Smart Collars
· Smart Cameras
· Smart Harnesses
Based on Component
· Processors
· Memory
· Displays
· Batteries
· GPS Chips
· RFID Chips
· Sensors
· Bluetooth Chips
· Wi-Fi Chips
· Cellular Chips
· Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Pet Wearables Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Product Sizeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Product Sizeion capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Pet Wearables Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Product Sizeion Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Product Size in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Product Size Capacity, Gross Margin
• Company Share Analysis by Card Product Size/Card Product Size
• Company Share Analysis by Product Size/Specification
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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