Global Pet Wearables Market By Technology, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
- Published date: Apr 2022
- Report ID: 26311
- Number of Pages: 323
- Format:
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Pet Wearables Market Overview:
The Pet Wearable Market size is expected to be worth around USD 7.1 billion by 2032 from USD 1.9 billion in 2021, growing at a CAGR of 12.6% during the forecast period from 2022 to 2032.
This market growth is supported in part by owners’ awareness of the well-being and health of their pets. In addition, pet wearables have attracted significant funding over the past few years to fund a range of technology-enhanced items for pets. This sector is still in its early stages. The pet’s heart rate of pets and body temperature are the smart harness physiological sensors track.
Global Pet Wearables Market Analysis
Technology Analysis
The highest revenue forecast share for RFID-based pet wearable devices was recorded in 2021. This segment accounted for more than 30% of the revenue share. RFID trackers can monitor key factors and parameters related to health, such as heart rate variability and blood pressure, calorie intake, pulse, body temperature, and pulse. These benefits are a major contributor to segment growth and will continue for the next few years. From 2023 to 2032, the segment of GPS-enabled devices will grow at a CAGR of 12%. This will result in a high revenue percentage over the forecast period.
GPS-based pet devices are becoming increasingly popular because they can be used to track and secure pets’ activities. The demand is being driven by the growing use of GPS-based pet wearable devices, real-time positioning, and the increasing penetration of smartphones. GPS providers have also formed strategic alliances to increase GPS use in new applications. This includes partnerships with manufacturers of mobile phones, retailers, and developers of application software.
Application Analysis
The market for tracking and identification devices held a significant revenue share in 2021. The segment growth is driven by key features such as access to location history, and weight & dimensions. These devices provide pet owners with an easy and secure way to monitor their pet’s daily training activity, which is driving the segment’s popularity.
In addition to activity monitoring, pet wearables are expected to see an increase in demand from 2023 to 2032. There are opportunities for the segment to grow, due to increased spending on pet health diagnostics. Pet wearables are a promising market with pet owners spending more each day. These spending decisions are driven in part by emotional motivations, such as increasing pet ownership emotional attachment to their pet fitness, and increased dependence on them for entertainment, companionship, and mental well-being.
Key Market Segments
By Technology
- RFID
- Sensors
- GPS
By Application
- Medical Diagnosis & Treatment
- Identification & Tracking
- Facilitation, Safety & Security
- Behavior Monitoring & Control
Market Dynamics
The industry is still in its early stages of development and faces increasing competition from key stakeholders. OEM will concentrate on developing products capable of collecting accurate health metrics. Internet of Things will be a key driver for market growth in the near future. These devices offer connectivity that will allow pet owners or veterinarians to send real-time data about their pet’s health.
A non-invasive, wearable sensor system that combines inertial measurement units (IMU), photo plethysmographs (PPG), and electrocardiograms (ECG), can be used to continuously activity monitor pets’ health. This wireless technology and handheld devices can make monitoring pet health easier.
Technology advancements such as sensors, GPS, cameras, and others. The future will see a rise in market demand for pet monitoring. Any electronic device needs technology to function properly. Therefore, any technological advancements will benefit the pet wearables sector. Technology may be less popular due to its short battery life and high energy consumption. In addition, strict compliance with government regulations will likely hinder industry growth.
Regional Analysis
The North American pet wearable market report held the largest market share, accounting for 32% in 2021. Market growth will be driven by advanced technologies in the region and rising spending on pet health care. The America Pet adoption of Companion Animals Product Association projects that the US will spend over US$ 100 billion on the pet industry trends spending by 2032.
Australia, China, and India will be leading the Asia Pacific pet-wearable industry growth. The region’s market growth is expected to be driven by increasing awareness and penetration of wearable technology in the region.
Key Regions and Countries covered іn thе rероrt:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
Market Share & Key Players Analysis:
The pet wearable market, which is still in its development stage, is experiencing intense competition from both existing market players as well as new entrants. Companies are also seeking to expand their global presence through collaborations, acquisitions, and strategic expansions.
Market major players want to improve their position by taking various strategic initiatives like new product launches and development, strategic collaborations, joint ventures and partnerships, and mergers & Acquisitions. Market leaders are keenly focused on R&D in order to develop new products and expand their product offerings.
They are also working on innovative products that collect data about pet health monitoring, such as how far they have walked and how many calories they have burned. This could be a benefit to veterinarians. Whistle Labs Inc., announced the launch of Whistle FIT, a preventive care tool. Whistle FIT allows customers to monitor their pet animal’s diet, activity, and key health behavior to manage pet care products.
Маrkеt Кеу Рlауеrѕ:
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Garmin Ltd.
- FitBark Inc.
- Datamars SA
- Invisible Fence Inc.
- PetPace LLC
- Loc8tor Ltd.
- Other Key Players
For the Global Pet Wearable Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Market Size in 2022
USD 1.9 Bn
Growth Rate
12.6%
Forecast Value in 2032
USD 7.1 Bn
Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)
What is the size of the Pet Wearables market in 2021?The Pet Wearables market size is US$ 1,929 million in 2021.
What is the projected CAGR at which the Pet Wearables market is expected to grow at?The Pet Wearables market is expected to grow at a CAGR of 12.6% (2023-2032).
List the segments encompassed in this report on the Pet Wearables market?Market.US has segmented the Pet Wearables market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Technology, the market has been segmented into RFID, Sensors, and GPS. By Application, the market has been further divided into Medical Diagnosis & Treatment, Identification & Tracking, Facilitation, Safety & Security, and Behavior Monitoring & Control.
List the key industry players of the Pet Wearables market?Avid Identification Systems Inc., Allflex USA Inc., Garmin Ltd., FitBark Inc., Datamars SA, Invisible Fence Inc., PetPace LLC, Loc8tor Ltd., and Other Key Players are engaged in the Pet Wearables market
Which region is more appealing for vendors employed in the Pet Wearables market?North America is expected to account for the highest revenue share of 32%. Therefore, the Pet Wearables industry in North America is expected to garner significant business opportunities over the forecast period.
Name the key areas of business for Pet Wearables?The US, India, China, Canada, UK, Japan, & Germany are key areas of operation for the Pet Wearables Market.
Which segment accounts for the greatest market share in the Pet Wearables industry?With respect to the Pet Wearables industry, vendors can expect to leverage greater prospective business opportunities through the RFID segment, as this area of interest accounts for the largest market share.
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Garmin Ltd.
- FitBark Inc.
- DATAMARS SA Company Profile
- Invisible Fence Inc.
- PetPace LLC
- Loc8tor Ltd.
- Other Key Players
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