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Pet Wearable Market Size, Share & Trends Analysis Report By Technology, By Application, By Region And Segment Forecasts From 2022 To 2030

Report ID: MN17616576  |  Published: November 2022  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Sensors

The global pet wearable market size is projected to reach USD 6.88 billion by 2030 with a CAGR of 14.3% during the forecast period. The growing awareness for pet well-being is a leading factor for the market to inflate. Driven by emotional motives among pet owners, and the increase in awareness of comfort and security of their fur babies, the pet wearables market is expected to expand to a greater scale. North America alone contributes 30% of the global revenue share of the market. The market growth is also well observed in economies of Asia Pacific, Latin America, the Middle East, and Africa. 

Even in its initial stages of development, the market has attracted a good amount of funding for the enhancement of advanced-technology devices for pets. Advanced pet wearable products include Smart Collars, Smart Cameras, Smart Harnesses and Vests, and Other Pet Products, whereas the applications include Identification and Tracking, Medical Diagnosis and Treatment as well as Other Applications. Pet owners are becoming more tech-friendly over time. Pet wearables are being adopted widely, marking their significant presence. With the owners investing more in such technology, the market is expected to grow at a higher scale undoubtedly.

The growing love and sensitivity towards animals, along with the tremendous increase in pet adoption during the pandemic has led to an increase in the number of pet owners that has also been beneficial for the market dynamics to evolve. In addition, the act of pet adoption is usually carried to boosting one’s mental health, fitness, and entertainment thus encouraging these pet parents to invest in their well-being. Recently, a campaign which was in fact a film named, “The New Year’s Resolution” was released by a digital pet care start-up. Supertails calls pet parents to look for the comfort of their fur babies and invest in tech-based devices that help them to keep a track of their activities. Here IoT plays a crucial role that helps in transmit real-time data to the owners and the veterinarians.

Although the pet wearable industry is at an evolving stage, it is witnessing several innovations with the growing inclination toward artificial intelligence. The investments made by the pet care and insurance giants for the development of GPS, smartphone apps, and cost-effective sensors, along with other advanced technologies are expected to create avenues for growth. It is projected that manufacturers producing comparatively affordable products with specific functional features that meet customer requirements will witness a good amount of growth.

Pet Wearable Market Report Key Takeaways

  • RFID-based pet wearable devices earned the highest revenue share in 2021, whereas, during the forecast period, 2022 to 2030 GPS enabled devices are expected to gain a CAGR that exceeds 10%.
  • GPS-enabled pet wearable devices segment is projected to register the fastest CAGR of 12% during the forecast period
  • Asia Pacific pet wearables market growth is expected to be led by countries like India, China, and Australia owing to the increase in penetration of pet wearable technology and awareness of pet health which is predicted to impact the market growth positively
  • Even though the market is in a developing state, the key players are majorly focusing on and adopting strategies like collaborations, acquisitions, partnerships, and expansions to strengthen their position in the global market
  • The players are also focusing on R&D activities to expand their product offerings and utilities with joint ventures, and mergers, and acquisitions
  • In June 2022, a 360-degree Dog camera was launched by Furbo, offering various features for pets, like colored night-vision, auto dog tracking, and a wide-angle lens, controlled through an app


Pet Wearable Market Segments

  • Pet Wearables Technology Outlook (Revenue, USD Million, 2018 - 2030)
    • RFID
    • GPS
    • Sensors
  • Pet Wearables Application Outlook (Revenue, USD Million, 2018 - 2030)
    • Identification & Tracking
    • Behavior Monitoring & Control
    • Facilitation, Safety & Security
    • Medical Diagnosis & Treatment
  • Pet Wearables Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East and Africa 
  • List of Key Players in Pet Wearable Market
    • Avid Identification Systems, Inc.
    • Allflex USA Inc.
    • Datamars
    • FitBark
    • Garmin Ltd.
    • Invisible Fence
    • Link AKC
    • Loc8tor Ltd.
    • PetPace LLC
    • Whistle Labs, Inc.
    • Voyce
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