Overview and Scope
A smart pet camera is a gadget enabling pet owners to remotely observe their pets using a camera, along with additional functionalities such as two-way audio, treat dispensing, and motion detection. These cameras are manageable via a mobile app, enabling pet owners to monitor and engage with the pets from any location with internet access.
Sizing and Forecast
The smart pet camera market size has grown rapidly in recent years. It will grow from $2.34 billion in 2023 to $2.73 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to growing demand for other exotic or specialty pets, rising awareness about pet health and safety, availability of smart pet cameras with features like live HD video streaming, surging demand for multi-functionality monitoring devices, and availability of cost-effective pet cameras.
The smart pet camera market size is expected to see rapid growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to increasing pet ownership, particularly among millennials, rising use of monitoring pets’ activities on smartphones and laptops, integration with smart homes and IoT devices, growing popularity of multifunctional cameras, demand for monitoring and communication devices. Major trends in the forecast period include advancements in technology, manufacturers investing in design and development of more advanced pet cameras, integration of advanced technologies, incorporation of advanced features such as cloud storage options, and pet cameras offering two-way video functionality.
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Segmentation & Regional Insights
The smart pet camera market covered in this report is segmented –
1) By Product Type: One Way Video Functionality, Two Way Video And Audio Functionality
2) By Price Range: Low, Medium, Premium
3) By Distribution Channel: Offline, Online
4) By Application Type: Communication, Monitoring, Treat-Dispersing, Remote Training, Video And Photo Capture, Real-Time Bark Alert
North America was the largest region in the smart pet camera market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart pet camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in pet ownership is expected to propel the growth of the smart pet camera market going forward. Pet ownership refers to the legal and ethical responsibility of caring for and providing for an animal. Pet ownership is on the rise for companionship and emotional support. The presence of a pet can offer comfort and alleviate feelings of loneliness. Pet ownership uses smart pet cameras to monitor and interact with pets remotely, enhancing the well-being and providing peace of mind to owners. For instance, in 2022, according to the American Pet Products Association (APPA), a US-based non-profit association, Americans spent $136.8 billion on their pets, a 10.68% increase from 2021 ($123.6 billion) due to a surge in pet ownership. Therefore, the rise in pet ownership is driving the growth of the smart pet camera market.
Key Industry Players
Major companies operating in the smart pet camera market are Robert Bosch Tool Corporation, TP-Link Technologies Co. Ltd., Arlo Technologies Inc., Nedis B.V., PAPAGO Inc., Dogness International Corporation, CleverPet Inc., Petcube Inc., Petcube Inc., Wyze Labs Inc., Furbo Co. Ltd., YI Technology, Kona Labs Inc., PETKIT Innovation Labs Inc., Petnet GmbH, Anker Innovations Limited, Shenzhen Woot Technology Co. Ltd., Shenzhen Obexx Intelligent Technology Co. Ltd., Sure Petcare Limited, Shenzhen Petfon Technology Co. Ltd., Skymee Co. Ltd., Fujian Meike Network Technology Co. Ltd., Petzi Inc., PetChat Inc., TESLA Solar s.r.o
The smart pet camera market report table of contents includes:
1. Executive Summary
2. Smart Pet Camera Market Characteristics
3. Smart Pet Camera Market Trends And Strategies
4. Smart Pet Camera Market – Macro Economic Scenario
5. Global Smart Pet Camera Market Size and Growth
…
32. Global Smart Pet Camera Market Competitive Benchmarking
33. Global Smart Pet Camera Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Pet Camera Market
35. Smart Pet Camera Market Future Outlook and Potential Analysis
36. Appendix
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