The pet wearable market is projected to grow at a CAGR 13.76% rate during the forecast period. The growth of the market is attributed to the increasing concerns toward pet health and wellbeing, rising pet population & pet humanization, surging demand for IoT in pet tracking devices, and growing expenditure on pets due to high disposal income.
Smart collars to have the largest share in pet wearable market during the forecast period. Growing demand from working individuals for pet monitoring is one of the primary growth factors for the smart-connected pet collars market. The rate of employment is increasing steadily around the world, and due to hectic lifestyle and long working hours, pet owners’ demands for smart-connected collars that enable them to connect with their pets from their workplace is rapidly increasing.
Sensor-based smart harnesses is projected to grow at highest CAGR during the forecast period. 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. The technology could be particularly useful for guiding dogs and monitoring their health.
North America is expected to lead the market 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.
Key players in the market include Whistle Labs (US), PetPace (US), Garmin (US), FitBark (US), Tractive (Austria), Link AKC (US), Motorola (US), Num’Axes /EYENIMAL (France), KYON (Greece), Scollar (US), GoPro (US), and Felcana (UK).
Key Questions Addressed by the Report
· Where will all the developments take the industry in the mid to long term?
· What are the different products that are expected to drive the demand for market during the forecast period?
· Which are the key strategies adopted by leading companies in the pet wearable market?
· What are the trends prevalent in the pet wearable market?
· Which components are expected to drive the market?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Surging Demand for IoT in Pet Tracking Devices
3.1.2.Increasing Concerns Toward Pet Health and Well Being
3.1.3.Rising Pet Population and Pet Humanization
3.1.4.Growing Expenditure on Pets Due to High Disposal Income
3.2.1.High Power Consumption and Limited Battery Life of Pet Wearable Devices
3.2.2.High Cost and Requirement for Continuous Subscriptions
3.3.1.Rapid Advancements in Wan and Lpwan Technologies
3.3.2.Exponential Demand for Pet Wearables From Developing Countries in APAC
4. Executive Summary
5. Pet Wearable Market, By Component
5.1. GPS Chips
5.2. RFID Chips
5.3. Connectivity Integrated Chips
6. Pet Wearable Market, By Product
6.1. Smart collars
6.2. Smart cameras
6.3. Smart harnesses
7. Pet Wearable Market, By Region
7.1. North America
7.2.4.Rest of Europe
7.3. Asia Pacific
7.3.4.Rest of APAC
7.4. Rest of the World
7.4.2.Middle East and Africa
8. Company Profiles
8.1. Leading Companies in Pet Wearable Market
8.1.3.Motorola Mobility (Binatone)
8.1.7.Link AKC (WAGZ)
8.2. Other Companies in Pet Wearable Market
*Company introduction, financial information, recent developments, SWOT analysis
9. Conclusion and Recommendations
10.2. Related Reports