Pet wearable devices help humans to track and monitor their pets using wireless communication technology. Pet owners can locate their pets if lost or stolen and also, can monitor their health which includes monitoring their food intake, nutrition and aggressive behavior. There have been rising concerns of pet obesity, especially in cats and dogs, thus, leaving only option of using pet wearables to combat this problem. Internet of Things (IoT) and development of sophisticated phone applications will have a positive influence on the global pet wearables market.
Pet Wearables Market Drivers and Restraints:
Global Pet Wearables Market Size 2017 by Application (Medical Diagnosis & Treatment, Behavior Monitoring & Control, Facilitation, Safety & Security and Identification & Tracking), by Technology (RFID, GPS and Sensors), by Region and Forecast 2018 to 2025. The study covers the global market revenue from 2015 to 2025, where 2015 to 2017 indicate the actual annual revenue and 2018 to 2025 represent the forecast revenue. The global market report also includes qualitative insights of the market such as opportunities, drivers, restraints and value chain analysis.
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The Global Pet Wearables Market size is expected to reach USD 4.14 billion in 2025 owing to rising awareness of pet wellbeing among the consumers across the world. Growing concerns about the animal health and diseases, mainly in cats and dogs, have propelled the demand for pet wearables globally. Additionally, growth in demand for sophisticated technology among the tech savvy consumers coupled with willingness to spend on pets will drive the global market.
Pet Wearables Market: Key Players
The competitive landscape of the global Pet Wearables Market is characterized by a large number of players with global presence. The key players covered in the global market report includes Fitbark, IceRobotics Ltd., Fetch (GoPro, Inc.), Tractive, Mars Inc. (Whistle Labs Inc.), Otto Petcare Systems, PetPace LLC, Pitpatpet Ltd., Inupathy, Inc., Loc8tor Ltd. And Motorola
Over the years, there has been a substantial advancement in wireless communication & mobile technologies which has given birth to the Internet of Things (IoT). These technology can be used to track and monitor the pets by simply using smartphones which collect data signals from the sensors, RFID or the GPS device that are tagged to the pets. Hence, the pet owners can track the location of the pet if it is lost and also, can monitor the health and diseases on the fly. These advantages will have a positive impact on the growth of the overall pet wearables market.
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Pet Wearables Market: Segmentation
The Pet Wearables Market is segmented based on type, end-use industry, and regions:
Application Overview, 2015-2025 (USD million)
• Identification & Tracking
• Behaviour Monitoring & Control
• Facilitation, Safety & Security
• Medical Diagnosis & Treatment
Technology Overview, 2015-2025 (USD million)
Regional Overview, 2015-2025 (USD million)
• North America
• Asia Pacific
• Latin America
• Middle-East & Africa
Geographically, the pet wearables market is divided into five regions: North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Among these regions, North America had the highest market share in 2017 owing to high spending capacity of pet owners in the countries of the USA and Canada. Also, according to the survey conducted by the American Pet Products Association (APPA) in 2017-18, 68% of the households in the US own a pet and almost USD 69.4 billion was spent on the pet industry in 2017. Hence, North America region is expected to dominate the global pet wearables market in next eight years.
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