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Pet Wearable Market Size By Product (Smart Collar, Smart Vest, Smart Harness, Smart Camera), By Technology (RFID Devices, GPS, Sensors, Bluetooth), By Application (Medical Diagnosis & Treatment, Identification & Tracking, Fitness Monitoring, Behavior Monitoring & Control), By End-Use (Household, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI151
- Published Date: Feb 2023
- Report Format: PDF
Industry Drivers
Pet Wearable Market size valued at USD 3 billion in 2022 and is anticipated to register over 10% CAGR between 2023 and 2032, on account of an increase in the number of pet tech solution manufacturers.
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The pet humanization trend has led to a greater increase in demand for advanced devices from pet parents. Scientific innovations are leading to the introduction of smart wearables to accurately monitor and promote the well-being of pets worldwide. These devices can support the early detection of diseases and behavioral issues. The collected data from these wearables can also warn pet owners regarding stress and other existing medical condition. The rise in the number of pet tech startup companies will therefore contribute to product usage over the estimated timeline.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 3 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 15 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 480 |
| Segments covered: | Product, Technology, Application, End-Use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The pet industry continues to gain traction, especially in Spain, the UK, France, Poland, and other European countries. Over the years, the preference for GPS-based wearable medical devices has surged to track pet activity and maintain security, thereby creating lucrative opportunities for the market expansion. However, the lack of awareness regarding advanced wearable technologies and economic constraints may limit the production of pet wearable devices to a certain extent.
Growing cat ownership will stimulate the development of smart pet collar devices
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The pet wearable market value from the smart collar product will be worth over USD 4 billion by 2032, propelled by the increasing cat ownership and deployment of innovative wearable pet technologies. As per statistics from the American Veterinary Medical Association, the rate of households owning at least one cat rose from around 26% between 2016 and 2020 to 29% in 2022. Smart collars are also designed with GPS tracking, activity monitoring, and other features, allowing pet parents to monitor their pet’s location. The increase in adoption of pet animals such as cats will therefore boost product usage to keep track of pet movements and locations in real-time.
Integration of vital sign collection & other health attributes to drive use of sensors in pet wearables
In terms of technology, the pet wearable market share from the sensors segment is set to depict over 15% CAGR through 2032, driven by their capability to collect and analyze vital signs to help detect health issues and alert pet owners. Smart wearable device manufacturers have integrated image, temperature, heart rate, water, and accelerometer sensors for varied pet care applications. Furthermore, their prominent role in monitoring pet behavior, movement, and health-related biometric data will further amplify wearable health sensor development.
Increasing burden of dog obesity may proliferate adoption of fitness monitoring devices
The pet wearable market size for fitness monitoring application is slated to exhibit a CAGR of 15% during the forecast period, as a result of the rising cases of dog obesity. According to survey data from the Association for Pet Obesity Prevention, around 56% of dogs in the U.S. are considered obese or overweight. This severe disease burden is likely to escalate the use of wearable fitness trackers to monitor activity levels. Additionally, the high investment in innovative wearable tech is also expected to bolster the use of pet fitness monitoring devices.
Increase in pet-owning households to accelerate the deployment of wearable tech devices
| Segment | Market Share, 2022 (%) |
|---|---|
| Household | 71.7% |
| Commercial | 28.3% |
| Total | 100% |
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Based on end-use, the pet wearable market value from the household segment accounted for USD 2 billion in 2022, owing to the burgeoning use of smart cameras and collars to monitor the location, emotional state, and activity of pets. There has also been a rise in pet ownership, especially in developed nations. As per the 2021-2022 survey conducted by the APPA (American Pet Products Association), 70% of households own a pet. Furthermore, the escalating demand for convenient and innovative remote devices integrated with GPS trackers will fuel product sales among households.
North America emerges as a lucrative revenue pocket due to strong focus on pet health & wellness
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From a regional perspective, the North America pet wearable market crossed USD 2 billion revenue in 2022, attributed to the strong focus of pet owners on the health and wellness of their animals. The spending on high-quality activity-tracking solutions has also witnessed an upsurge across the region. In addition, the introduction of animal protection laws has influenced pet trainers to utilize tech-powered devices to train pets and reduce excessive barking and other habits.
Strategic partnerships among industry participants to define the competitive landscape
Prominent participants operating across the pet wearable market include Wagz, Inc., Whistle Labs (Mars Incorporated), Tractive, Scollar, Inc., Petcube, Inc., PetPace LLC, Nedap NV, Loc8tor, Ltd., IceRobotics Ltd. (Peacock Technology), Halo Collar, Garmin International, Inc., Fitbark, Inc., Dogtra, and Afimilk Ltd. These companies are focusing on strategic partnerships to expand their customer base and footprint in the global market.
For instance, in January 2022, Petriage entered a partnership with Smart Tracking Technologies, LLC. This deal was intended to integrate the Link Smart Pet Wearable from Smart Tracking Technology with real-time pet health information generated from its AI-driven indicator analytics platform. This initiative was intended to allow the company to boost its foothold in the industry.
Impact of COVID-19 pandemic on pet wearable market outlook
The COVID-19 outbreak and subsequent lockdowns created a significant shift in the pet ownership landscape, mainly in terms of increased willingness to spend on pets. A majority of the owners have also acquired pets and increased their spending during the lockdown. As per a Forbes Advisor survey, in 2022, 66% of pet owners invested more money in pets than they usually would. These trends will encourage pet wearable device manufacturers to increase their product portfolio to cater to the growing consumer base and consequently bolster the industry dynamics.
This pet wearable market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Units from 2018 to 2032 for the following segments:
Market, By Product
- Smart Collar
- Smart Vest
- Smart Harness
- Smart Camera
Market, By Technology
- RFID Devices
- GPS
- Sensors
- Bluetooth
Market, By Application
- Medical Diagnosis & Treatment
- Identification & Tracking
- Fitness Monitoring
- Behavior Monitoring & Control
Market, By End-Use
- Household
- Commercial
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa