Pet Wearables Market Revealing the Opportunities, Trends, Demand and Top Players of the Industry, Reviewed till 2022

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of pet wearables market. The study is titled as “Pet Wearables Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global pet wearables market.

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Higher spending in pet care products and noteworthy changes in modern lifestyle is expected to influence the sales of pet wearables in the near future. Moreover, rising per capita income is leading to more number of pet adoption. This, in turn, is making a positive impact on the global pet wearables market. Owners particularly in developed countries are raising their budgets on pet care to prevent their pets from viral disease or various health related discomforts. In addition, latest animal care guidelines released by animal care NGOs and institutes are helping owners to get more aware regarding best practices of pet care and management. Demand for pet wearables is also gaining traction owing growing awareness about such devices household pet owners as well as owners of farm animals. Pet wearables can play an important role in keeping track of animal’s health and wellbeing. On the other hand, slow adoption of pet wearables in emerging countries coupled with malfunctioning of various pet wearable products is impeding the value global of the market. As per Fact.MR’s latest report, the global market for pet wearables will exceed US$ 3,400 Mn in valuation over 2022.

Key Excerpts From the Report Include:

1. Based on products, demand for GPS trackers for pets is projected to remain relatively higher as compared to other pet wearable products. Global sales of GPS trackers for pets currently commands for close to 33% market share in terms of revenue. Owners are fitting GPS trackers in collars of their pets to track their position 24X7. Towards the end of 2022, more than US$ 1,100 Mn GPS trackers are estimated to be sold worldwide.

2. Among regions, North America is expected to remain the most lucrative market for pet wearables during the forecast period. This is largely due to high demand for pet wearables such as GPS trackers for pets and pet cameras in the region. Between 2017 and 2022, the market in the region is expected to surge at a steady CAGR of 4.3%.

3. On the basis of distribution channel, the E Commerce segment is expected to retain its top position over 2022. The segment currently represents nearly one-third share of the global market in terms of revenue. By the end of forecast, this segment is expected to reach a valuation is excess of US$ 1,200 Mn.

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GPS Trackers Will Continue to Be the Most Sought-After Pet Wearable Product

On the basis of product, the GPS trackers segment is expected to remain highly lucrative in 2017 and beyond. The segment currently represents around 33% revenue share of the global market and is expected to register a CAGR of 4.2% during the forecast period.

On the basis of region, the pet wearables market in North America is expected to remain dominant throughout the assessment period. This is primarily owing to the high willingness of owners to provide their pets with optimum care. During the forecast period, North America’s pet wearables market is projected to expand at a CAGR of 4.3%.

Competition Tracking

FitBark, Inc., Loc8tor Ltd, PetPace LLC, Tractive GmbH, Whistle Labs LLC, Garmin International, Inc., Gibi Technologies Inc, GoPro, Inc., Motorola, IceRobotics, Ridogulous Labs Inc. are the key market participants profiled in the Fact.MR’s report. Many of these companies are stepped up their efforts in research and development activities in order to introduce more innovative products.

Table of Contents:

1. Global Pet Wearables Market – Executive Summary

2. Global Pet Wearables Market Overview
2.1. Introduction
2.1.1. Global Pet Wearables Market Taxonomy
2.1.2. Global Pet Wearables Market Definition
2.2. Global Pet Wearables Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Pet Wearables Market Y-o-Y Growth
2.3. Global Pet Wearables Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Supply Chain
3. Global Pet Wearables Market Analysis and Forecast By Product Type
3.1. Global Pet Wearables Market Size and Forecast By Product Type, 2012-2022
3.1.1. Pet Cameras Pet Wearables Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region

Continued……….

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