Global Pet Wearables Market Size to cross $8bn by 2024

Pet Wearables Market size is expected to cross USD 8 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Rise in the disposable income in emerging countries is contributing toward the pet industry growth. The average annual disposable income in Asia Pacific increased by 7.4% in 2016. Cats and dogs are being adopted highly in the region due to their suitability with small apartments. Pet owners are including pets in their families and are investing more in their safety and wellbeing. Monitoring devices help in tracking & monitoring heart rates, sleep patterns, and include various boundary alert systems and geofencing capabilities to notify the pets’ security to owners.  The other factor contributing to the pet wearables market growth is delayed parenthood, which is encouraging young married couples to adopt pets for expanding their family.


 

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Ongoing technological advancements will positively impact the pet wearables market demand. Some of these innovations include intelligent fitness trackers, RFID devices, GPS, sensors, and other gadgets. Manufacturers are investing in innovative wearable technologies, which are helping owners to keep a track of their pets’ activities. For instance, in June 2018, Xiaomi launched PetBit, a fitness tracker for pets that can track calories burnt, distance, and walking time of pets. The device features a battery life of 30 days and allows owners to access data on the PetBit app on their smartphones and share health information on the community to compare stats with other pets. In addition, these devices are being widely used for medical diagnosis & treatment and GPS tracking.
 

U.S. pet wearable market size, by product, 2016 & 2024 (USD Million)
Pet Wearables Market

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The Bluetooth technology in the pet wearables market is expected to witness substantial growth owing to its wide usage in wearable devices to exchange data over short distances between mobile devices such as smartphones and tablets. This technology can be easily implemented with low-cost options, which require very little power from wearable devices. Moreover, Bluetooth is offering developers unparalleled intelligence & flexibility, providing an easy-to-use framework, letting them create new & novel applications using both standard & custom Bluetooth use cases. As a connectionless technology, Bluetooth is providing pet owners with a high degree of reliability with an extremely low power profile.
 

Browse key industry insights spread across 280 pages with 389 market data tables & 79 figures & charts from the report “Pet Wearables Market Size By Technology (RFID Devices, GPS, Sensors, Bluetooth), By Product (Smart Collar, Smart Vest, Smart Harness, Smart Camera), By Application (Medical Diagnosis & Treatment, Identification & Tracking, Fitness Monitoring, Behavior Monitoring & Control), By End-Use (Household, Commercial), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Australia, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pet-wearable-market
 

The increasing adoption of smart vests to keep dogs safe is being witnessed in the pet wearables market. They can enhance the pets’ security as they are equipped with hidden video cameras. The technology streams the video content when the dog barks. When the camera turns on, owners can view from phones, laptops or computers. In 2017, stray dogs in Thailand were equipped with vests and could help the community as well as animals by spotting potentially unfriendly strangers and other dangers within a community. Moreover, in the commercial landscape, several companies are investing in developing advanced products for commercial animals with monitoring devices. For instance, HoofStep AB, a Swedish company, provides a horse monitoring device that will help owners to monitor the horse’s location, behavior, and health.
 

Behavior monitoring & control applications will witness high demand in the pet wearables market as they allow owners to observe and monitor the behavior of pet animals. These devices help owners to improve their physical interaction with their pets. They are used for the continuous supervision of animals for recording the data and monitoring pet animals’ behavior based on their shelter life and analyzing the interaction of pets with their owners when they are visually blind. In Europe, the rising awareness toward the welfare of homeless dogs and cats and ongoing product innovations will drive the pet wearables market revenue. In Germany, private animal shelters called Tierheim, are being developed to take care of homeless animals. Organizations, such as Companion Animal Responsible Ownership (CARO), providing scientific knowledge on cats and dogs are encouraging people to adopt these animals from shelters. The increasing concerns for the safety and health of animals will also drive the adoption of innovative wearables.
 

Key players in the pet wearables market are Dairymaster, Garmin, i4c Innovations, FitBark, Invisible Fence, Loc8tor, DeLaval, Inc., IceRobotics, Motorola, Otto Petcare, Whistle Labs LLC (Mars Incorporated), Ridogulous Labs, Nedap, Pet Vu Inc., PetPace, Silent Herdsman Limited, Tagg, and Dropcam (Nest). These companies are focusing on strategic mergers & acquisitions and new product developments. For instance, in February 2018, Wagz Inc., an application development company announced its partnership with Sequans Communications S.A, an LTE IoT chipmaker to develop Smart Collars for dogs. These devices will help owners to monitor & track activities, location, food eating habits, and barking through smartphone applications.
 

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The pet wearables market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Units from 2013 to 2024, for the following segments:

By Technology

  • RFID devices
  • GPS
  • Sensors
  • Bluetooth
  • Others

By Product

  • Smart collar
  • Smart camera
  • Smart harness
  • Smart vest

By End-Use

  • Household
  • Commercial

By Application

  • Medical diagnosis & treatment
  • Identification & tracking
  • Behavior monitoring & control
  • Fitness monitoring

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA

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