Global Pet Wearable Market

Report ID : 1413 | Published : 2022-10-18 | Pages: | Format: PDF/EXCEL

The market size of the Global Pet Wearable Market in 2021 is valued at 2.26 billion and is predicted to reach 7.71 billion by the year 2030 at an 15.06% CAGR during the forecast period.

Pet wearables are electronic wearable devices that enable users to communicate remotely with and keep track of their companion animals, pets, and other loved ones. These devices assist owners in monitoring their pets' areas, providing unique identification for their animals, and keeping a continual eye on their behavior and developmental activities. One of the critical factors accelerating market growth is the rise in demand for better pet healthcare services. Other significant drivers include the adoption of GPS-enabled technology, the consumption of heat detection, identification, and tagging solutions, the urbanization of pets and their popularity, the rise in countries with high disposable income, and the requirement for mandatory RFID tagging of farm animals.

Additionally, during the forecast period, the market for pet wearables will see a rise in the quick improvements in wan and Lpwan technologies and exponential demand from developing nations. However, the pet wearable market will face additional challenges throughout the projection period due to the high power consumption and short battery life of pet wearable devices, limiting the market growth.

Market Segmentation:

The pet wearable market is segmented by technology and application. Based on the technology, the market is segmented into RFID, GPS and sensors. Based on the application, the market is segmented into identification & tracking, behavior monitoring & control, facilitation, safety & security and medical diagnosis & treatment.

Based on the technology, the RFID category is accounted as a major contributor to the pet wearable market.

The RFID category dominated the market in 2021. Dependability and accuracy are the two main characteristics driving the category's expansion. The RFID trackers support the monitoring of health-related variables like heart rate variability, caloric intake, body temperature, and pulse. These advantages are crucial to maintaining segment expansion, which is anticipated to persist over the forecasted years. The market for GPS-enabled gadgets is anticipated to expand significantly throughout the forecast period. GPS-based pet wearable gadgets are becoming more popular as there is an increasing need to track pet activity while maintaining security. It is predicted that rising real-time positioning, rising smartphone adoption, and expanding mapping portals will increase demand.

The identification & tracking category witnessed growth at a rapid rate.

The identification & tracking category dominated the market in 2021. The category growth is driven by characteristics like weight & measurements and access to location history. These gadgets give pet owners a safe and convenient method to keep an eye on their animals' activities, contributing to the market's popularity. In addition to activity tracking, a major increase in demand for pet wearables for medical diagnosis & treatment is anticipated. The spending on pet health diagnostics is creating opportunities for category expansion. Pet owners are spending more money on their pets every day, which bodes well for the future of pet wearables.

The North American Pet Wearable market holds a signification revenue share.

The North American pet wearable market is expected to register the highest market share due to a rise in the use of GPS-enabled hardware and components, an increase in the demand for heat detection technology, and a rise in the demand for identification and tagging services in this region. The availability of cutting-edge technology and increased spending on veterinary care is expected to propel the market expansion in the region. The need for a range of pet-related services, including dietary supplements, grooming services, pet accessories, pet daycare facilities, and one of the newest products—pet wearables and communication devices—is anticipated to drive the sector. In addition, Europe is projected to grow rapidly in the global pet wearable market. The market will expand due to the spreading trend of pet humanization in nations like the UK, France, and Spain. With 26% of adults in the UK owning a pet dog, the country tops the list for the number of pet owners. Smart pet wearables, such as security cameras and intelligent harnesses, are becoming incredibly popular on the market as pet ownership increases throughout Europe. With the help of these gadgets, pet guardians may keep an eye on their animals' whereabouts from a distance using a smartphone, improving their security and safety.

Competitive Landscape

The key players in the pet wearable market have shifted their focus toward product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance their product portfolio and strengthen their global market footprint. Key players in the pet wearable market are Allflex USA Inc.; Avid Identification Systems, Inc.; Datamars; Fitbark; Garmin Ltd.; Intervet Inc.; Invisible Fence; Konectera Inc.; Nuzzle; PetPace LLC; Tractive; Trovan Ltd.; Whistle Labs, Inc. and Voyce.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Pet Wearable Market Snapshot

Chapter 4. Global Pet Wearable Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Technology Type Estimates & Trend Analysis

5.1. by Technology Type & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Technology Type:

5.2.1. RFID

5.2.2. GPS

5.2.3. Sensors

Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis

6.1. by Application & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Application:

6.2.1. Identification & Tracking

6.2.2. Behavior Monitoring & Control

6.2.3. Facilitation, Safety & Security

6.2.4. Medical Diagnosis & Treatment

Chapter 7. Pet Wearable Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Technology Type, 2019-2030

7.1.2. North America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2030

7.1.3. North America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.2. Europe

7.2.1. Europe Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Technology Type, 2019-2030

7.2.2. Europe Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2030

7.2.3. Europe Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.3. Asia Pacific

7.3.1. Asia Pacific Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Technology Type, 2019-2030

7.3.2. Asia Pacific Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2030

7.3.3. Asia Pacific Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.4. Latin America

7.4.1. Latin America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Technology Type, 2019-2030

7.4.2. Latin America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2030

7.4.3. Latin America Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.5. Middle East & Africa

7.5.1. Middle East & Africa Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Technology Type, 2019-2030

7.5.2. Middle East & Africa Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2030

7.5.3. Middle East & Africa Pet Wearable Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Allflex USA Inc.

8.2.2. Avid Identification Systems, Inc.

8.2.3. Datamars

8.2.4. Fitbark

8.2.5. Garmin Ltd.

8.2.6. Intervet Inc.

8.2.7. Invisible Fence

8.2.8. Konectera Inc.

8.2.9. Nuzzle

8.2.10. PetPace LLC

8.2.11. Tractive

8.2.12. Trovan Ltd.

8.2.13. Whistle Labs, Inc.

8.2.14. Voyce

8.2.15. Other Prominent Players

By Technology-

  • RFID
  • GPS
  • Sensors

By Application-

  • Identification & Tracking
  • Behavior Monitoring & Control
  • Facilitation, Safety & Security
  • Medical Diagnosis & Treatment

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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