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Pet Monitoring Camera Market size is anticipated to grow exponentially over the span of 2023-2032, due to a rise in consumer spending on innovative accessories to effectively monitor pet health and safety.
Consumers in developed countries are increasingly spending on luxurious pet accessories and treats. According to the American Pet Products Association, more than USD 34 billion was spent on vet care and pet product sales in 2021 across the U.S., representing the tremendous potential for the sale of pet tech offerings. Technological advancements in the form of functionalities have further propelled the market trends.
For instance, Petlibro launched its advanced camera monitoring automatic pet feeder for pet owners in June 2022. There is increasing willingness among consumers to adopt advanced technology, to ensure wellbeing & safety of pets. It is encouraging leaders to expand their pet monitoring camera market share and invest in the development of innovative monitoring devices for pet owners.
The impact of inflation is slated to have a notable influence on the pet care industry. As per the U.S. Department of Labor, the pet product costs in the nation rose by an average of 8.3% in 2022 from 2021, while the pet service and care costs were up by 7.8%. Such trends during the inflation period are expected to hinder the business growth in the coming years to some extent.
Global pet monitoring camera market from one-way video functionality segment is expected to record considerable surge by 2032. Unique and innovative features of these products are slated to push the product adoption over the foreseeable timeframe. These include snapshot capturing & motion, laser dot chase game, temperature monitoring, automatic treat dispenser, customizable built-in ringtone, and sound detection capabilities. The availability of inexpensive security cameras to monitor pets through live videos and motion detection alerts has also increased their deployment in the market.
The online distribution channel segment in the pet monitoring camera market overview is predicted to grow at a substantial rate through 2032. The benefits of e-commerce platforms including flexibility, convenience, versatility, accessibility, easy price comparison, low cost, and less time in purchasing products have encouraged consumers to purchase pet monitoring products online. The increasing internet penetration across developing nations, a rise in disposable incomes and the rapid acceptance of smartphones have resulted in the high popularity of online shopping. Major e-commerce retailers including eBay, Inc., PetSmart, Inc., Walmart, Inc., Amazon, Inc., and Target Brands, Inc. offer smart pet devices of several leading brands in the market.
Asia Pacific pet monitoring camera market will observe substantial growth from 2023 to 2032 on account of the increasing adoption and humanization of pets, particularly in Singapore, Thailand, Malaysia, and Indonesia. A shift in consumer behavior, which is inclined toward purchasing pet wellness and health monitoring products is boosting the industry value. Additionally, improving consumer lifestyles and growing disposable incomes in India and China are projected to provide significant impetus to business expansion.
Key pet monitoring camera market include Acer, Inc., Anser Innovation LLC, Guardzilla, Hangzhou Hikvision Digital Technology Co., Ltd., Motorola, Inc., Petcube, Inc., Tomofun, Vimtag Technology Co., Ltd., Wagz, Inc., and Zmodo. These companies are adopting various strategies to compete and acquire major share in the market through product launches, partnerships, and more. For instance, in 2021, San-Francisco-based Petcube launched its most affordable treat-dispensing smart pet camera. Labeled as Petcube Bites 2 Lite, the product features a 1080p camera with a 160-degree wide-angle view and built-in night vision.
Market, By Functionality
Market, By Distribution Channel
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