Global Pet Wearable Market By Technology (RFDI, Sensors, and GPS), By Component (Memory, Processors, Other), By Application (Medical Diagnosis & Treatment, Identification & Tracking, Other), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Apr 2022
- Report ID: 26311
- Number of Pages: 323
The Global Pet Wearable Market size is expected to be worth around USD 14.54 Billion by 2032 from USD 2.9 billion in 2022, growing at a CAGR of 17.9% during the forecast period from 2023 to 2032.
This market growth is sustained in part by owners’ awareness of the well-being and health of their pets. In addition, pet wearables have attracted significant funding over the past few years to fund a range of technology-enhanced items for pets. This sector is still in its early stages.
The Pet’s heart rate of pets and body temperature are the smart harness physiological sensors track. The pet wearables market is gaining momentum as pet owners become more health-conscious. The increasing trend of adopting pets as companions for emotional well-being, fitness, and entertainment has increased spending on pet welfare.
For example, in January 2022, digital pet care startup Super tails released a new film, The New Year’s Resolution, that brings dog voices closer to viewers. Through this campaign, the company is asking pet owners to keep their pets closer this year, spend time getting to know them and build a true bond with them. Products will be in high demand. Increasing awareness coupled with easy availability of wearables across the globe is expected to boost the global pet wearables market.
Additionally, using pet wearables has its own benefits. Connect people and pets to track their daily activity and health with these devices. This monitor produces data on food intake, heart and breathing rates, and the patterns and calories your Pet consumes throughout the day. The data generated by these devices is used to analyze your Pet’s health.
Technological advancements in the market are further expected to have a positive impact on the market under study. For example, Furbo launched a 360-degree dog camera in June 2022 that rotates 360 degrees at its base to track active puppies. It also offers a wide-angle lens, color night vision, and automatic dog tracking.
The camera can be moved using the app controls. Such product innovations are expected to drive the studied market significantly. Growing disposable income, pet adoption, and increasing animal healthcare expenditure are the major growth drivers in this market. This market report provides a detailed Pet Wearable market analysis including its size, share, growth, key trends, and other key factors.
Wireless wearable devices are helping the growth of the Market.
Pet’s wearable market growth is still in its early stages of development and faces increasing competition from key stakeholders. OEM will concentrate on developing products capable of collecting accurate health metrics.
The Internet of Things will be a key driver for market growth in the near future. These devices offer connectivity that will allow pet owners or veterinarians to send real-time data about their Pet’s health.
A non-invasive, wearable sensor system that combines inertial measurement units (IMU), photo plethysmographs (PPG), and electrocardiograms (ECG) can be used to continuously activity monitor pets’ health. This wireless technology and handheld devices can make monitoring pet health easier.
Technology advancements such as sensors, GPS, cameras, and others. The future will see a rise in market demand for pet monitoring. Any electronic device needs technology to function correctly. Therefore, any technological advancements will benefit the pet wearables sector.
Technology may be less popular due to its short battery life and high energy consumption. In addition, strict compliance with government regulations will likely hinder the pet wearable market growth.
In addition to grooming, pet daycare, nutritional supplements, and wearable communication devices, the pet wearable industry offers a wide range of services. Technological advancements and product launches drive the growth of the studied segment challenges
The short battery life of pet wearables is one of the major factors hindering the growth of the industry. High power consumption is another key factor hindering the growth of the global pet wearable device market.
Additionally, most portable devices use advanced technology that requires a lot of power and needs to be charged frequently such as Wireless networks and GPS. As a result, this limits battery life and increases maintenance costs for pet owners.
Another obstacle to the growth of the Pet Wearable market is the high cost of wearable devices for pets. Low-income consumers generally buy fewer wearable pet devices, which is expected to hamper market growth.
In the first quarter of 2020, the pet wearable market witnessed the worst hit as all the retail stores, manufacturing, warehouses, and transportation was shut down completely. The customer’s financial incomes were also affected by the covid-19 pandemic as the corporate world was completely shut down, including the facilities that they provide, which resulted in a shortage of raw materials, labor, and raw materials.
By Technology Analysis
People’s day-to-day lives are being transformed by technological advancements. The way people take care of their pets is also being influenced by technological advancements, and this impact is not limited to humans alone. Humans greatly benefit from wearables that monitor a variety of daily activities.
However, these might be life-altering for pets. Owners gain a better understanding of their pets’ health, well-being, and whereabouts when they are able to receive data and information about them. They can even assist pet owners in enhancing their animal companions’ training for times when they must be at home alone.
Another important feature of pet wearables that is piquing the interest of veterinary professionals in these products is the ease with which specific data on pet health metrics can be collected. The demand for wearables that monitor activity has increased as a result of the ongoing trend toward healthier pet lives that emphasize controlling obesity and feeding.
According to a recent clinical survey conducted by the Association of Pet Obesity and Prevention, approximately 56% of dogs and 60% of cats are clinically overweight. As a result, the demand for such wearables will continue to rise.
By Application Analysis
Currently, location tracking is the most frequently offered feature of animal wearables. Regardless of the technology, pet owners can rest assured that their pets are safe at home while they are away on vacation or at work. If necessary, pet owners can also quickly locate and rescue stray animals. Activity tracking is another common function of pet wearables.
As the number of cases of pet obesity continues to rise, activity tracking for pets is becoming increasingly important. Owners can make informed decisions regarding the appropriate feeding and exercise of their pet by comparing the tracked activity to recommendations for dogs of the same age and breed using the accompanying app.
These wearable devices have been valued by companies. There are opportunities for the segment to grow due to increased spending on pet health diagnostics. Pet wearables are a promising market, with pet owners spending more each day.
These spending decisions are driven in part by emotional motivations, such as increasing pet ownership, emotional attachment to their pet fitness, and increased dependence on them for entertainment, companionship, and mental well-being.
Key Market Segmentation
- RFID chips
- GPS Chips
- Cellular Chips
- Wi-Fi Chips
- Bluetooth Chips
- Medical Diagnosis & Treatment
- Identification & Tracking
- Facilitation, Safety & Security
- Behavior Monitoring & Control
Pet Wearable Market and Top products:
Pet’s camera is designed to capture the Pet’s action and direction directly from its collar. When the owner is out of sight, the Pet’s camera helps to give insights into the Pet’s behavior. His Device can also be called a Pet Monitoring device.
A harness is basically a west for the Pet, which is fastened around the Pet. The harness is equipped with smart technologies and sensors to detect and monitor the Pet’s body language, poster, and sound the Pet’s body is making. And wireless sensors are used to detect pet activities when they are out of sight. Location tracking of the Pet can be done on this Device.
A smart collar provides insights into the Pet’s activities, like training, pet location, health, activity, and much more. A pet’s collar can connect to the smartphone by Bluetooth, Wi-Fi, and even with mobile data to get insight on your screen.
The American Pet Products Association’s (APPA) National Pet Ownership Survey (2021-2022) reports that 70% of US households own pets. Such factors are expected to create opportunities for key players in the pet wearables market to launch new products and spur market growth in the region.
Similarly, in his October 2021 article published by Frontiers in Veterinary Medicine, 37% of Canadian households own one or more cats, and that percentage increased during the COVID-19 pandemic. Therefore, the increasing adoption of pets in North American countries is driving the demand for pet wearables to track and monitor pet activity, thereby spurring the growth of the market under study.
The identification and tracking market is anticipated to expand significantly over the forecast period due to the widespread use of pet wearables, such as smart collars, for GPS tracking of pet animals. Owners can use these pet wearables to keep track of their pets, assist others in locating stray pets, and return them to their rightful owners. Using their smartphones, pet owners can quickly and easily identify their pets and track where they are.
According to an article that was published in January 2022 by Stray Animal Statistics, 5500 stray dogs are put to sleep each day, and only 17% of the stray dogs in shelters return to their pet parents. As a result, in order to meet the rising demand for pet identification and tracking, demand for pet wearables is anticipated to rise.
As a result, significant expansion of the Pet Wearable market is anticipated. The growth of the studied segment is driven by an increasing number of product launches and technological advancements.
For instance, the Greater Hyderabad Municipal Corporation (GHMC) planned to inject radio-frequency identification (RFID)-based chips into dogs and other animals in February 2021. This would make it possible for pet owners to locate their animals in the event that they become lost or misplaced. In a similar vein, Tractive unveiled its brand-new cat-specific pet tracker in January 2022. For a more secure fit, the Trac GPS Cat LTE Tracker is attached by threading the collar through the device.
The North American Pet wearable market report held the largest market share, accounting for 32% in 2021. Advanced technologies and market statistics in the region and rising spending on pet health care will drive market growth.
The America Pet adoption of Companion Animals Product Association projects that the US will spend over US$ 100 billion on the pet industry trends spending by 2032. Australia, China, and India will be leading the Asia Pacific pet-wearable market growth. The region’s market growth is expected to be driven by increasing awareness and penetration of wearable technology in the region.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Latin America
- Costa Rica
- Rest of Latin America
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- Western Europe
- The UK
- Rest of Western Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa;
The pet wearable market, which is still in its development stage, is experiencing intense competition from both existing market players as well as new entrants. Companies are also seeking to expand their global presence through collaborations, acquisitions, and strategic expansions.
Market major players want to improve their position by taking various strategic initiatives like new product launches and development, strategic collaborations, joint ventures and partnerships, and mergers & Acquisitions. Market leaders are keenly focused on R&D to develop new products and expand their offerings.
They are also working on innovative products that collect data about pet health monitoring, such as how far they have walked and how many calories they have burned. This could be a benefit to veterinarians. Whistle Labs Inc. announced the launch of Whistle FIT, a preventive care tool. Whistle FIT allows customers to monitor their pet animal’s diet, activity, and key health behavior to manage pet care products.
Market Key Players:
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Garmin Ltd.
- Invisible Fence
- Link AKC
- Loc8tor Ltd.
- PetPace LLC
- Whistle Labs, Inc.
- Other Key Players
May 2022: LavvieTag, a fitness tracker with smart cat care features, was released by PurrSong, Inc. Using LavvieTAG’s Activity Analysis Sensor, pet owners can track their cat’s daily walking, running, sleeping, and calorie consumption.
December 2021: The first biometric health collar for dogs was introduced by the technology company Invoxia, based in the United States. The Invoxia Smart Dog Collar is designed to monitor a pet dog’s vitals, activity, and location around the clock.
Report Features Description Market Value (2022) US$ 2,920 Mn Forecast Revenue (2032) US$ 14,541 Mn CAGR (2023-2032) 17.9% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Technology: RFID, Sensors, GPS; By Component: Memory, Processors, Batteries, Display, RFID chips, GPS Chips, Cellular Chips, Wi-Fi Chips, Bluetooth Chips, Sensors; By Application: Medical Diagnosis & Treatment, Identification & Tracking, Facilitation, Safety & Security, Behavior Monitoring & Control. Regional Analysis North America – The US, Canada, Mexico; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Eastern Europe – Russia, Poland, The Czech Republic, Greece Rest of Eastern Europe; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA. Competitive Landscape Avid Identification Systems, Allflex USA Inc., Datamars, FitBark, Garmin Ltd., Invisible Fence, Link AKC, Loc8tor Ltd., PetPace LLC, Whistle Labs, Inc., Voyce. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three license to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
Frequently Asked Questions (FAQ)What will be the market size for Pet Wearables Market in 2032?
In 2032, the Pet Wearables Market will reach USD 14.54 billion.What CAGR is projected for the Pet Wearables market?
The Pet Wearables market is expected to grow at 17.9% CAGR (2023-2032).Name the major industry players in the Pet Wearables market.
Avid Identification Systems, Inc., Allflex USA Inc., Datamars, FitBark, Garmin Ltd., and Other Key Players are the main vendors in Pet Wearables.List the segments encompassed in this report on the Pet Wearables market?
Market.US has segmented the Pet Wearables market by geographic (North America, Europe, APAC, South America, and MEA). By Technology, market has been segmented into RFID, Sensors, GPS. By Component, the market has been further divided into, PMemory, Processors and Batteries.What are the main business areas for the Pet Wearables market?
North America and APAC are the largest market share in Pet Wearables Market.
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Garmin Ltd.
- FitBark Inc.
- DATAMARS SA Company Profile
- Invisible Fence Inc.
- PetPace LLC
- Loc8tor Ltd.
- Other Key Players
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