The pet wearable global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pet Wearable Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pet wearable market size has grown rapidly in recent years. It will grow from $3.44 billion in 2023 to $4 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to pet owner concerns for pet health and safety, increase in pet ownership and humanization, wearable technology adoption in other sectors, veterinary recommendations for monitoring, regulatory standards for pet safety.
The pet wearable market size is expected to see rapid growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to expansion of telemedicine for pets, customized pet health and wellness plans, ai-driven pet behavior analysis, growth in pet fitness and activity tracking, smart pet products and accessories. Major trends in the forecast period include wearables for specific pet species (e.g., cats, birds), wearable tech for pet emotion recognition, augmented reality experiences for pets, pet data marketplaces and analytics, subscription-based pet monitoring services..
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Scope Of Pet Wearable Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pet Wearable Market Overview
Market Drivers –
The rise in demand for pet monitoring globally contributed to the pet wearable market’s growth. Pet owners often view pets as family members and are willing to spend on pet products and services. According to the 2023-2024 APPA National Pet Owners Survey, conducted by the American Pet Products Association, 86.9 million U.S. families bought new pets during the pandemic. Additionally, according to the Pet Food Manufacturers Association, a UK-based trade body for the pet food industry, 3.2 million households in the UK acquired a new pet during the COVID-19 pandemic. The increase in the number of pets indicates a rise in demand for pet-related goods, including pet wearable devices.
Market Trends –
Companies operating in the pet wearable market are increasingly adopting IoT (Internet of Things) technology in pet tracking devices to allow pet owners to seamlessly track the activity and location of their pets. IoT-enabled pet tracking devices utilize IoT technology that uses GPS (Global Positioning System) or cellular tower triangulation to pinpoint the tracker’s location. This data can be accessed by a companion application that is installed on the pet owner’s smartphone. The advantages of IoT-enabled pet trackers include high precision in location tracking, geofencing notifications if the pet leaves a specified area, and longer battery life. For instance, in September 2021, Vodafone Group PLC, a UK-based multinational telecommunications company, launched the Curve Smart GPS tracker pack which is an IoT-enabled tracker which can be used to accurately pinpoint the pet’s location.
The pet wearable market covered in this report is segmented –
1) By Product Type: Smart Collar, Smart Camera, Smart Harness and Vest, Other Product Types
2) By Technology: RFID Devices, GPS, Sensor, Bluetooth, Other Technologies
3) By Application: Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Other Applications
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Regional Insights –
North America was the largest region in the pet wearable market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet wearable market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the pet wearable market include Allflex Inc., Avid Identification Systems Inc., Dairymaster Ltd., Datamars Inc., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Intervet Inc., Invisible Fence Inc., Konectera Inc., Scollar Inc., Tractive GmbH, Trovan Global, PetPace Ltd., Motorola Mobility LLC, Num’axes S.A., Dogtra Shop Ltd., Dog Tracker Nano, DeLaval Inc., Indiegogo Inc., GIBI Technologies Inc., Nedap NV, Omnia Technologies Pvt. Ltd., Pawbo Inc., Wagz Inc., Link AKC, Mars Incorporated, Loc8tor Ltd., Anser Innovation LLC, Pet Vu Inc., Petrek Mechanical Contractors Ltd., DOTT Services Ltd., WonderWoof Pvt. Ltd., Pawscout Inc., Voyce Inc., Petkit Network Technology Co. Ltd.
Table of Contents
1. Executive Summary
2. Pet Wearable Market Report Structure
3. Pet Wearable Market Trends And Strategies
4. Pet Wearable Market – Macro Economic Scenario
5. Pet Wearable Market Size And Growth
…..
27. Pet Wearable Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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