Global Pet Wearables Market By Technology, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

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