Devices that can be worn on a pet's body, known as pet wearables, can aid with identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security, among other things. A GPS tracking device that enables owners to keep tabs on their pets' whereabouts is the most basic type of pet wearable. By quantifying pet behaviours and well-being, improved pet wearables can serve as an animal translation tool that will help owners better understand their pets' needs and moods while also fostering a closer bond between them. More importantly, they develop the infrastructure for animal healthcare at home or abroad and gather useful information that doctors of veterinary medicine can use. All of these elements are contributing to the global market share rise of pet wearables.
Pet Wearables Market valued at US $2.49 Billion in 2022 is anticipated to reach a value of US $7.24 Billion in 2030, rowing at a CAGR of 14.6%.
Market Overview:
Although there is no proof that pets can test positive for COVID-19, manufacturers are expanding the selection of pet wearables to make it easier for owners to regularly check their pets' health. Even though working pet owners prefer pet wearables, non-wearable pet-friendly linked sensing devices are becoming a more viable option for ensuring the safety of animals. Therefore, to capitalise on new revenue sources, organisations in the pet wearable market should broaden their focus on R&D in this area. The ability to sync with other wearables like FitBit and the Apple HealthKit allows next-generation pet sleep and step tracker devices to learn about potential health issues in animals.
The market opportunity for pet wearables is expanding as a result of rising awareness of a pet's physical and emotional welfare, rising adoption of IoT, rising demand for pet monitoring, and rising technological advancements. As pet owners grow more aware of their pets' health, the market for pet wearables is expanding. Spending on pet care is increasing as more people choose to adopt pets as companions for mental stability, fitness, and amusement. As consumer awareness rises and wearables become more readily accessible, the global pet wearable market is anticipated to expand. However, it is anticipated that a significant barrier to the expansion of the global pet wearable market will be a lack of consumer awareness. The device's high power consumption and short battery life will also hurt sales.
To enable pet owners to easily follow their pets' activity and location, companies in the pet wearables market are rapidly incorporating IoT (Internet of Things) technology into their pet tracking gadgets. The Global Positioning System (GPS) or cell tower triangulation are used by IoT-enabled pet tracking systems to determine their precise location. On the pet owner's smartphone, a companion application can be used to obtain this data. High location tracking accuracy, geofencing notifications when the pet exits a designated region, and longer battery life are all benefits of IoT-enabled pet trackers. For instance, in September 2021, the UK-based global telecoms corporation Vodafone Group PLC introduced the Curve Smart GPS tracker pack, an IoT-capable tracker.
Segmental analysis of the Market:
Based on Technology
- RFID
- GPS
- Sensors
Based on Application
- Identification & Tracking
- Behavior Monitoring & Control
- Facilitation, Safety & Security
- Medical Diagnosis & Treatment
Competitive Landscape:
Some of the prominent companies operating in the market are
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Datamars
- FitBark
- Garmin Ltd.
- Invisible Fence
- Link AKC
- Loc8tor Ltd.
- PetPace LLC
- Whistle Labs, Inc.
Major questions answered in this report:
- What is the growth rate of the global pet wearables market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
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