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The pet wearable market size is projected to increase by USD 3.66 billion at a CAGR of 18.57% between 2023 and 2028. The market is experiencing significant growth, driven by the expanding pet industry and the robust growth of e-commerce and online sales. The pet industry's continuous expansion is fueled by increasing pet ownership, rising disposable income, and changing consumer preferences toward providing better care and comfort for their pets. GPS technology is revolutionizing the market by providing pet owners with real-time tracking and enhanced safety features for their furry companions. Additionally, the availability of unorganized players and the prevalence of counterfeit products pose challenges to market growth. However, these challenges also present opportunities for established players to differentiate themselves through product quality, brand reputation, and customer service. Smart cameras integrated into pet wearables are transforming the pet wearable market by allowing owners to monitor their pets' activities and behaviors remotely through high-definition video feeds. As e-commerce continues to dominate retail sales, companies must adapt to online platforms and leverage digital marketing strategies to reach consumers effectively. Overall, the market is poised for continued growth, with opportunities for innovation and differentiation.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Avid Identification Systems Inc. - The company offers pet wearables namely Avid Collar Tags.
Barking Labs Corp. - The company operates as a dog collar brand that includes features such as a geofence, monitoring, and more.
Datamars SA - The company offers pet wearables, namely Kippy EVO, through its subsidiary Kippy.
Market analysis and report of qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smart collar segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to increasing awareness and demand for advanced technologies to enhance pet health and safety. These wearables, which include smart collars and harnesses, are equipped with IoT sensors and real-time data transmission capabilities. OEMs are integrating wearable sensor systems with photoplethysmographs and electrocardiograms to monitor health metrics such as heart rate and activity levels. Veterinarians and pet owners alike benefit from this data, enabling proactive care and intervention. Smart collars, featuring GPS tracking, cameras, and Wi-Fi or Bluetooth connectivity, provide pet parents with real-time location information and peace of mind.
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The smart collar segment was the largest segment and was valued at USD 546.50 million in 2018. With long battery life and low power consumption, these collars are essential for ensuring the safety of pets, especially in cases of missing animals. Safety regulations and RFID segments, like Datamars, ensure the accuracy and reliability of these wearable technologies. Customized activity targets based on breed, behavior, and ambient temperature are also available, making these wearables lightweight, waterproof, and customizable for various pet needs. Inupathy and other emotional intelligence technologies are being integrated into smart harnesses, further expanding the potential benefits for pets and their parents. The employment rate in this sector continues to grow as innovation and demand for these smart-connected pet collars and harnesses increase.
The market is experiencing significant growth due to the rising concern among pet owners for their pets' safety and well-being. Companies like Whistle Labs, Tagg, and Mars Petcare lead this sector with innovative products. Location tracking and activity & rest monitoring are key features of these pet wearable devices. Acquisition strategies by larger players in the pet food industry indicate a strong interest in this market. Millennials, with their emotional bond with pets and focus on animal health care, are driving demand. Wearable devices facilitate identification, controlling, and medical diagnosis for treatment. Safety and security are paramount, with real-time monitoring enabling the swift return of lost pets. Companies such as Furbo, Tractive, and Link Smart Pet offer solutions. Production costs and the potential for stray dogs in shelters may impact market growth. Microchipped dogs represent a significant portion of the market.
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North America is estimated to contribute 40% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
The market in North America is experiencing significant growth due to the increasing number of pet owners seeking advanced ways to monitor and enhance their pets' health and safety. Companies like Whistle Labs, Tagg, and Mars Petcare lead this sector with innovative pet wearable devices offering features such as location tracking, activity and rest monitoring, identification, and remote controlling.
These devices facilitate medical diagnosis, treatment, and pet monitoring, catering to the rising concerns of millennial pet owners regarding pet health. Acquisition strategies by major players in the pet food industry indicate a strong focus on this market. Devices like Furbo, Link APT, Whistle, and Tractive provide real-time data analysis, ensuring pet safety and security. Production costs and the integration of these devices with smartphones and smart home devices continue to improve, making them more accessible to pet owners. Additionally, initiatives to help stray dogs through microchipped dogs and shelters further expand the market.
The market is experiencing significant growth due to the increasing awareness of animal health care and the employment of advanced technologies like IoT, Wearables, and Cameras. OEMs are developing innovative solutions such as Smart collars and harnesses equipped with Photoplethysmograph sensors, GPS technology, Wi-Fi, and Bluetooth for real-time data monitoring. These wearable sensor systems facilitate identification, tracking, controlling, medical diagnosis, treatment, pet furniture and safety for pets. Veterinarians and pet owners benefit from this technology by gaining insights into their pets' health and wellbeing in real-time. Companies like Whistle Labs and Inupathy are leading the way in this market with their Smart-connected pet collars and LED displays. The adoption of these wearables is on the rise, contributing to the growth of the pet wearable market and enhancing the overall animal health care industry.
The growing pet industry is driving growth in the market. The market has witnessed significant growth due to increasing pet ownership and the desire of pet parents to prioritize their pets' health and well-being. According to the American Veterinary Association, the average US household spends approximately USD 311 annually on pet care. This expanding customer base has attracted both established players and startups in the industry. Pet wearables encompass a range of technologies, including cameras, wearable sensor systems with sensors like photoplethysmograph and electrocardiogram, and GPS tracking. OEMs and IoT companies are developing real-time data collection capabilities for veterinarians and pet owners. Wearable sensors can monitor health metrics such as heart rate, body temperature, and activity levels. GPS technology is a crucial feature in pet wearables, ensuring the safety of pets, particularly those prone to wandering or getting lost.
Safety regulations and RFID segments, like Datamars, are essential for ensuring the accuracy and reliability of pet tracking systems. Smart collars and harnesses, equipped with Wi-Fi, Bluetooth, LED displays, and customized activity targets based on breed, behavior, and pet parent preferences, are becoming increasingly popular. Lightweight, waterproof designs with long battery life and low power consumption are essential considerations for pet parents. Employment in the pet wearables industry is on the rise, with companies focusing on developing advanced technologies like algorithms and smart-connected pet collars to enhance pet care and improve pet parents' peace of mind. Inupathy is an example of a company that offers smart harnesses that can detect and respond to a pet's emotional state. These products cater to the needs of modern pet owners, driving market growth during the forecast period.
The robust growth of e-Commerce and online sales is a key trend in the market. The market is experiencing significant growth due to increased awareness and convenience offered by e-commerce platforms and online pet stores. Detailed product descriptions, specifications, and customer reviews enable pet owners to make informed decisions on the quality and functionality of wearables. The emergence of direct-to-consumer (D2C) brands has led to an increase in online sales, with unique and innovative products directly reaching consumers. Wearable sensor systems, including cameras, photoplethysmographs, and electrocardiograms, provide real-time health metrics. Sensors such as GPS, ambient temperature, and customized activity targets cater to specific breeds and behaviors.
Safety regulations, RFID segment, and datamars ensure pet safety. Lightweight, waterproof, and collar attachment designs are essential features. Smart collars with Wi-Fi, Bluetooth, LED displays, and GPS technology offer advanced functionality. Employment of IoT, smart harnesses, and Inupathy technology further enhances pet well-being and safety. Battery life and power consumption are crucial considerations for pet parents. GPS tracking and missing pet alerts provide peace of mind. Demand for pet wearables through online channels is likely to increase in line with the continuing growth of e-commerce and consumer behavior, which will boost the growth of the global market in focus during the forecast period.
The presence of unorganized players and the availability of counterfeit products is a major challenge faced by the market. The market faces challenges from the proliferation of counterfeit and low-quality products, particularly in developing countries like China and India. These unregistered manufacturers offer wearables and accessories at lower prices, threatening the growth of established OEMs. Key differentiating factors include brand and price. In the realm of pet wearables, advanced technologies such as cameras, IoT, and real-time data play a significant role. Veterinarians and pet owners benefit from wearable sensor systems, which include photoplethysmographs and electrocardiograms, to monitor health metrics. Sensors like GPS, ambient temperature, and customized activity targets cater to specific breeds and pet behaviors. Safety regulations, RFID segment, and datamars ensure security and identification.
Lightweight, waterproof, and collar attachment designs are essential features. Smart collars with Wi-Fi, Bluetooth, LED display, and GPS technology enhance pet well-being and provide safety for missing pets. Employment rates in this sector are driven by the development of smart harnesses and Inupathy technology, which focus on pet parents' concerns for their pets' well-being. Power consumption and battery life are crucial considerations for the long-term use of these smart-connected pet collars. Therefore, the high competition from counterfeit players is a major price challenge for well-established manufacturers in the global market.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market growth and trends strategies.
Global Market Customer Landscape
In the ever-evolving world of pet care, the market has emerged as a significant trend. These innovative devices, such as Activity Trackers, GPS Systems, and Smart Collars from brands like Omega Pet, iPetcom, and PetSafe, are revolutionizing pet ownership. Wearables enable pet parents to monitor their pet's health and wellbeing in real-time, providing essential data on metrics like temperature, activity levels, and location. Additionally, wearables can help train pets with behavioral issues, ensuring a happier and healthier pet. The market for pet wearables is expected to grow significantly due to increasing pet ownership, advancements in technology, and the growing awareness of pet health and wellness. With features like customizable settings, long battery life, and sleek designs, pet wearables are becoming an essential part of pet care.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.57% |
Market growth 2024-2028 |
USD 3.66 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
14.35 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Avid Identification Systems Inc., Barking Labs Corp., Datamars SA, Dogtra Co., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Loc8tor Ltd., Mars Inc., Merck and Co. Inc., NUM AXES , Pet Valu Canada Inc., PetPace, Protect Animals With Satellites LLC, SCOLLAR Inc., Smart Tracking Technologies LLC, Tractive GmbH, Vandrico Solutions Inc., and Wagz Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
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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 Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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