Pet wearables are primarily smart trackers and monitors embedded into small gadgets that can be worn by pets. Pet wearables are widely used across the world for applications such as pet tracking, health monitoring, and emergency notifications. Pet wearables make use of various technologies including global positioning systems (GPS), radio frequency identification (RFID), sensors (proximity sensors, accelerometers, temperature and pressure sensors, heart rate monitors, etc.), Bluetooth, and cellular connections, among others. Thereby, with the incorporation of several technologies, pet wearable manufacturers are able to offer a wide array of applications to their consumers. For instance, pet wearables have gained immense popularity in recent years in applications such as identification and location, medical diagnostics, and behavior monitoring. Companies engaged in the development of pet wearable technology have been focusing on designing various attractive tags, collars, and vests to be used on pets. Consumers can buy such wearables and sync them to their smartphones, tablets, or laptops to ensure constant monitoring and notifications.
One of the major factors driving the growth in the pet wearables market is the technological advancements in communication and sensor technologies. The increasing popularity of wearable technology for humans has paved the way for various wearable products for pets. In addition, with decreasing costs for various sensors, pet wearable manufacturers have been able to incorporate numerous features and functions into singular products at affordable prices. Other technological factors resulting in higher adoption of pet wearable technology include growing demand for smart connected homes. Consumers from most of the developed markets in the North America and Europe region demand interconnectivity between various home systems enabling the inclusion of pet monitoring and feeding systems. In addition, an increasing number of people are spending more time at home with their pets during the ongoing COVID-19 pandemic, resulting in increasing expenditure towards overall pet products.
The report titled “Global Pet Wearables Market- Growth, Future Prospects, and Competitive Analysis, 2020 – 2028” offers strategic insights into the global pet wearables market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on technology, product, and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities. In addition, the report covers a section providing production and pricing trends in some of the major markets.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of pet wearable technology, market positioning, and key developments. Some of the major players profiled in the report are FitBark, Loc8tor Ltd., PetPace Ltd., Whistle Labs Inc., Pitpatpet Ltd., DOGSTAR LIFE, Fetch (GoPro, Inc.), and INUPATHY, Inc., among others
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global pet wearables market, offering market size and estimates for the period from 2020 to 2028, keeping in mind the above-mentioned factors.
Based on technology, the overall pet wearables market was led by the GPS segment in 2019. The segment accounted for almost half of the overall pet wearables market revenue across the globe. GPS technology enables real-time tracking of the pet on cloud-based map applications which can be used on smartphones and tablets, among others. Other technologies such as RFID enable monitoring and control of pet movement within homes enabling various other functions such as pet door access and automated feeding systems.
With decreasing costs of various sensors coupled with increasing demand for pet health monitoring solutions, the sensors segment is expected to witness the fastest growth during the forecast period from 2020 to 2028. The usage of various types of sensors enables pet owners to monitor and track numerous health aspects of their pets and gain useful insights pertaining to their fitness and physical wellbeing. Thereby, pet wearables are expected to witness the growing incorporation of sensors in the following years.
In 2019, North America represented the largest market for pet wearables, in terms of revenue. The demand for pet wearables technology in the region is primarily supported by the higher adoption of sophisticated technology in the region. Furthermore, the region is also home to some of the leading manufacturers and providers of pet wearable technology across the world. Europe followed North America in the overall pet wearables market globally in 2019. Factors such as higher technological awareness coupled with the rising trends for smart homes have fuelled the demand for pet wearables in the region.
The Asia Pacific region held the third position in the overall pet wearables market across the world. Factors such as lower local innovations and late adoption among consumers in the region have resulted in the lower revenue share from the Asia Pacific regions. However, with rising disposable incomes and the increasing availability of advanced products, the region is expected to witness the fastest growth during the forecast period from 2020 to 2028. Some of the leading countries in the region driving the market growth in the following years include China, Hong Kong, Japan, South Korea, and Singapore, among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pet Wearables market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Technology
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Product
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
