USD 7781.0 Million, Pet Wearables Market Size to Grow at 14.9% CAGR, Globally, by 2028 | Brandessence Market Research

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Oct 17, 2022, 11:45 ET

LONDON, Oct. 17, 2022 /PRNewswire/ -- According to Brandessence Market Research Pet Wearables Market Size, Share & Trends Analysis Report By Product Type (Smart Collar, Smart Glasses, Smart Harness & Vest, Smart Camera) By Technology (GPS, RFID, Sensors) By Application (Medical Diagnosis & Treatment, Identification & Tracking, Facilitation, Safety & Security, Behavior Monitoring & Control) Based On Region, And Segment Forecasts, 2022 - 2028

Global Pet Wearables Market is valued at USD 2943.1 Million in 2021 and expected to reach USD 7781.0 Million by 2028 with a CAGR of 14.9% over the forecast period.

The Pet Wearable Market Size and its size has been seeing a growth and the growth is further compounding in the coming years. The reason for this growth is the awareness among the owners with regard to the pets and their well-being. Furthermore, the pet wearable markets are attracting a major funding over last few years for a large array of products which are technology enhanced such as cameras and wearables. The industry is pretty much at an initial stage of its development, but it is seeing competition for positions as the key stakeholders fight for their market share. The focus of the companies is going to be the development of its products with capabilities of the efficiently collecting health metrics.

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Scope of Global Pet Wearables Market Report: -

Pet Wearables can be worn on a pet's body for a variety of purposes such as identification, tracking, monitoring, control, medical diagnosis, treatment, convenience, safety, and security. There are different types of pet wearables such as smart collars, smart harnesses and vests, smart cameras, and other products. In addition, the use of pet wearables provides benefits, such as connecting humans to their pets, tracking their daily activities, and monitoring their health using these devices. This observation generates data for food intake, heart, and respiratory rates, and calories and patterns burned by pets throughout the day. The data generated by these devices is used to analyze pet health.

Global Pet Wearables Market: Competitive Landscape

Avid Identification Systems, Allflex USA Inc., Datamars, FitBark, Garmin, Invisible Fence, Link AKC, and Loc8tor Ltd. are some of the major companies which are going to grow at a higher rate in the global Pet Wearables Market. The growth will depend on their focus on marketing and other work.

Smart Tracking Tech. LLC & Chewy.com Launched Smart Pet Wearables

On October 5th, 2021; Smart Tracking Technologies, LLC announced the launch of the all-new Link Smart Pet Wearable, which is now only available on Chewy.com and LinkMyPet.com. A recent study by the Association for Pet Obesity Prevention found that more than half of dogs are overweight which leads to serious illnesses and shortens their lifespan.

Xiaomi Launched PetBit, a Fitness Tracker for Pets

On June 13th, 2018; Xiaomi entered the pet wearable market by launching a new fitness tracker called FitBit (sounds like FitBit) for pets. The PetBit has a squirrel design, measuring 5.04 x 4.6 x 1.83 cm and weighing 26 grams. It is available in two colors Silver / White and Graphite / Black and can be easily attached to a dog's harness.

Global Pet Wearables Market Segmentation:

The GPS enabled devices are a segment which is going to grow at a rate which will be higher due to the demand exceeding among the pet owners. The North American market is going to grow at the highest level due to the increase in the spend on the pet healthcare due to the more sophisticated market adoption. The growth will also be visible in Asia Pacific region where the countries like India, China and Australia are going to see a great growth due to the awareness and increase in the penetration of technology.

By Product Type:

Smart Collar
Smart Glasses
Smart Harness & Vest
Smart Camera
Other

By Technology:

GPS
RFID
Sensors

By Application:

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

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Internet of Things is going to play a major role in driving the growth of the pet wearable market in future. There is a transmission in real time with the data concerning the pet health to the owners and veterinarians will be supported by the connectivity that is offered by devices. The non-invasive wearable sensors are growing as they are used for the constant monitoring of the health condition of the pets and are integrated with the wireless technologies and the handheld devices which can make the pet health monitoring much easier.

The Advancements in the technologies include the GPS, cameras and sensors which is going to elevate the demand for the Pet Wearable Market in future. This is a technology which plays a major role in the electronic devices. Therefore, any advancement in the fields is going to be conducive for the growth of the industry of pet wearables. The short battery life as well as higher consumption of power might reduce the use and the adoption of this technology. Furthermore, the compliance with the government regulation is going to hamper the growth of the industry.

The Asia Pacific Pet Wearable Market is the fastest-growing region in the Global Pet Wearables Market due to the increasing popularity of companion animals, the presence of key players, and the government to focus on implementing RFID devices into the pet's skin in this region. For instance, as per the news published on December 13th, 2019; a startup launched 'Wagr', a wearable to track the real-time location of pets. The device is as little as 6cm x 4cm, Wagr can be joined to a dog's choker which will empower the animal owner to follow its movements and location continuously. Also, increasing focus of government on implementing RFID devices into the pet's skin also drives the market growth in this region. For example, in August 2019, the Indian government passed a regulation that needs pet owners to get their pets microchipped and enlisted with the Kennel Club of India (KCI). The regulation has made it compulsory for dogs to have microchips to avoid the distortion of breeds.

RFID based pet wearable devices recorded the biggest share in the revenue share in the coming years and it has surpassed one third of the revenue in the last few years. the reliability and the accuracy are some major features which contribute to the segment growth. The trackers help in the monitoring of parameters which concern the health like the heart rate variability.

On Special Requirement Pet Wearables Market Report is also available for below region:

North America

U.S, Canada

Europe 

Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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