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The pet monitoring camera market is estimated to grow at a CAGR of 17.4% and the size of the market is forecast to increase by USD 541.19 million between 2022 and 2027. The growth of the market depends on several factors, including the increased number of pet ownerships, the rise in concern over the well-being of pets, and the increased adoption of smartphones.
This report extensively covers market segmentation by product (one-way video and two-way video), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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In 2017, in terms of market size, APAC dominated the market with a share of USD 71.73 million. Additionally, US was the largest contributor of market share USD 49.21 million. The market segment one-way video recorded the largest contribution in market share of USD148.35 million and continues to grow.
The reports categorize the global pet monitoring camera market as a part of the global electronic equipment and instruments market within the overall electronics market. The parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rise in concern over the well-being of pets is notably driving the market growth, although factors such as low adoption in developing countries may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Pet Monitoring Camera Market Driver
The rising concerns over the well-being of pets are notably driving the pet camera market growth. Health problems and pet thefts are instances that make pet owners concerned. Skin allergies, arthritis, brain ageing, digestive disorders, and obesity are emerging health problems that pets suffer from. Moreover, pet thefts are rising across the world, especially in Europe, which made pet owners more cautious, thereby raising the need to monitor their pets. Pet owners focus on healthy and nutritious foods along with pet monitoring products, which enable them to keep a watch on the needs of their pets, even from remote locations.
As per the survey from APPA, 75% of pet owners have revealed that spending time with their pets has helped pet owners reduce their mental stress during the COVID-19 pandemic. This growing concern over pet thefts and pet health is expected to fuel the growth of the market during the forecast period.
Significant Pet Monitoring Camera Market Trend
4K resolution in pet monitoring cameras is the key trend in the pet camera market. The 4K resolution is a video specification that has a resolution of approximately 4,000 pixels. 4K videos are very popular nowadays and provide better 1080p footage. That is possible by oversampling each pixel by a factor of four to get sharper and clearer /images. The colours of 4K videos are vivid, and the footage can be cropped even in full HD video resolution.
The 4k resolution offers excellent stabilization features owing to the number of extra pixels in the /image. Cameras with 4K technology allow the extraction of frames from the video footage in playback mode. The 4K resolution will soon become the most sought-after feature in pet monitoring cameras. Thus, the adoption of 4K resolution in pet monitoring cameras will drive the market to focus during the forecast period.
Major Pet Monitoring Camera Market Challenge
Low adoption in developing countries is the major challenge impeding the pet camera market growth. Several countries have strict regulations on keeping pets in terms of their security and health. For instance, countries such as the US and the UK have strict regulations, which owners have to comply with, the failure of which can lead to serious punishments.
However, countries, especially in APAC, such as India, Sri Lanka, China, Indonesia, and the Philippines, do not have such strict regulations as far as the guiding safety of pets is concerned. This is due to a lack of organizations and authorities who can regulate these issues. The governments of these countries majorly focus on the safety of endangered species such as wild animals. This lack of attention to the safety of pets discourages pet owners from keeping pets or adopting pet monitoring devices. Thus, this is a major obstacle that the market faces.
Key Pet Monitoring Camera Market Customer Landscape
The report includes the adoption lifecycle of the pet camera market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pet Monitoring Camera Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the pet camera market.
Wopet Pet Product Ltd. - The company offers pet monitoring devices such as interactive, treat dispenser smart cameras for pets as its key offerings. The company offers technologically advanced products for pets, such as smart feeders, smart pet cameras, and drinking fountains and filters.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The pet camera market share growth of the one-way video segment will be significant during the forecast period. The one-way video includes monitoring cameras that are specifically designed to monitor the actions and behaviour of pets and keep them secure from rising instances of pet theft. High Internet penetration and rising smartphone adoption are fueling the growth of the pet security market, including monitoring devices.
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Pets are an important part of the emotional quotient of many people. Also, research studies have linked pet ownership to lower blood pressure, reduced stress, less incidence of heart disease, and lower overall healthcare costs. It is, therefore, important to take care of companion animals and protect them from harm. Thus, the importance of pets in the lives of their owners prompts them to spend on animal healthcare, thus driving the growth of the segment and, subsequently, the pet camera market during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Pets are an important part of the emotional quotient of many people. Also, research studies have linked pet ownership to lower blood pressure, reduced stress, less incidence of heart disease, and lower overall healthcare costs. It is, therefore, important to take care of companion animals and protect them from harm. Thus, the importance of pets in the lives of their owners prompts them to spend on animal healthcare, thus driving the growth of the segment and, subsequently, the market during the forecast period.
Due to the outbreak of the COVID-19 pandemic, the electronic and equipment market in India had a negative impact in the supply chain segment business due to the lockdown in the country. However, manufacturers in the region are focusing on increasing their brand presence in retail stores. The market in India is expected to experience good growth during the forecast period, owing to high awareness among pet owners and increased brand offerings in the market. The growth in the adoption of pets is also boosting the growth of the pet camera market.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (One-way video and Two-way video), Distribution Channel (Offline and Online), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
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Pet Monitoring Camera Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.4% |
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Market growth 2023-2027 |
USD 541.19 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
16.8 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acer Inc., Amazon.com Inc., Arlo Technologies Inc, Centrica Hive Ltd., EZVIZ Inc., Furbo, Hangzhou Hikvision Digital, Lenovo Group Ltd., Neos Ventures Ltd., PetChatz LLC, Petcube Inc, PETKIT Ltd., Shenzhen Skymee Technology Co. Ltd, Vimtag Technology Co LTD, Wagz Inc., Wopet Pet Product Ltd., Wyze Labs Inc, Xiaomi Inc., and Zmodo Technology Corp. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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