Market Analysis and Insights:- Global Pet Wearable Market
Global Pet Wearable Market By Product (Smart Collar; Smart Camera; Smart Harness & Vest; Tags; Monitors; Trackers; Translators); Technology (RFID; GPS; Sensors; Others); Animal Type (Companion; Livestock); Application (Identification & Tracking; Behaviour Monitoring & Control; Facilitation, Safety & Security; Medical Diagnosis & Treatment); End-Use (Commercial; Household); Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Pet Wearable Market
Global pet wearable market is expected to rise to an estimated value of USD 3.30 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the significant surge in the availability of IoT devices and systems.
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Market Definition: Global Pet Wearable Market
Pet wearables are electronic wearable devices that help humans keep a real-time record of their pets, livestock and companion animals with the help of wireless communication systems. These devices help humans in monitoring the health, keep a track of their location, help in unique identification of their pets, as well as help in continuous monitoring of their behaviour and their movement activities.
Market Drivers:
• Growing advancements in technologies associated with the development and activities associated with these devices is also expected to foster growth of the market
• Rapid growth in demand for better services related to healthcare of pets is expected to augment growth of the market
• Increasing adoption of GPS-enabled devices and components; this factor is expected to positively affect the growth of the market
• Increased consumption for heat detection, identification and tagging solutions; this factor is expected to drive the growth of the market
Market Restraints:
• Unavailability of infrastructures for wireless monitoring of pets and livestock animals; this factor is expected to restraint the growth of the market
• Requirement of large financial costs associated with acquiring and maintaining the continued operations of these devices; this factor is expected to restrict the growth of the market
• Concerns regarding the short-battery life of these devices is also expected to restrain the growth of the market
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Segmentation: Global Pet Wearable Market
By Product
• Smart Collar
• Smart Camera
• Smart Harness & Vest
• Tags
• Monitors
• Trackers
• Translators
By Technology
• RFID
• GPS
• Sensors
• Others
By Animal Type
• Companion
• Livestock
By Application
• Identification & Tracking
• Behaviour Monitoring & Control
• Facilitation, Safety & Security
• Medical Diagnosis & Treatment
By End-Use
• Commercial
• Household
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Italy
o U.K.
o France
o Spain
o Netherlands
o Belgium
o Switzerland
o Turkey
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
o Singapore
o Malaysia
o Thailand
o Indonesia
o Philippines
o Rest of Asia-Pacific
• South America
o Brazil
o Argentina
o Rest of South America
• Middle East and Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Israel
o Rest of Middle East and Africa
Key Developments in the Market:
• In July 2019, Whistle announced the launch of innovative pet wearables, “Whistle GO” and “Whistle GO Explore”. The products are next-generation products compiled with advanced safety and activity monitoring inclusive of a health monitoring platform. The devices offer real-time tracking of pets, improved levels of batter life, illuminating device and is also available in different colours
• In March 2019, Smart Tracking Technologies, LLC announced that they had acquired “Link AKC”. This acquisition will enable greater innovations and improvements to the products currently available with the consumers at a fast-forwarded pace. With this acquisition, the headquarters of Link AKC will be shifted to Jacksonville, Florida, United States
Competitive Analysis
Global pet wearable market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pet wearable market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global pet wearable market are Allflex; Avid Identification Systems, Inc.; Datamars; FitBark Inc.; Garmin Ltd.; SpotOn; Invisible Fence; Whistle; LINK AKC; Loc8tor Ltd.; MOTOROLA HOME; Tractive; Trovan Ltd.; Voyce; Cybortra technology co.,Ltd.; KYON; DOGTRA; PetPace LTD.; PawTrax; Pod Trackers Pty Ltd; DAIRYMASTER; Gibi Technologies Inc.; IceRobotics Ltd; GoPro, Inc. and INUPATHY Inc. among others.
Research Methodology: Global Pet Wearable Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
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The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved
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