Pet Wearable Market By Top Leading Player: Nedap N.V., Silent Herdsman Limited, Scollar, Pet Vu, DeLaval, Dairymaster, PetPace, Otto Petcare, Motorola, Ridogulous Labs, Garmin, FitBark, i4c Innovations
Global Pet Wearable Market set to reach USD 8 billion by 2024 with the industry growth pegged at a CAGR of over 20% during the forecast timeframe. Rise in adoption of pets coupled with increase in disposable incomes in several North American households is anticipated to drive the pet wearable market over the coming years. Over 60% of the American homes own either a cat or a dog. The owners have increased their expenditure on pets by investing in wearable devices, as they help remotely monitor and control the pet’s health and fitness.
Growing interest for security & wellbeing of pets, and ongoing developments in mapping portals with the infiltration of smart devices will stimulate the GPS enabled devices in the pet wearable market. Wearable technology is changing the lives of both pets and their owners, with mobile apps at the center of the industry. From GPS tracking to RFID implants, the usage of mobile apps and wearable technology in pet industry is providing innovative security and safety solutions to owners and their pets.
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Top Key Players: -
Key players operating in the pet wearable market include Nedap N.V., Silent Herdsman Limited, Scollar Inc., Pet Vu Inc., DeLaval, Inc., Dairymaster, PetPace, Otto Petcare, Motorola, Ridogulous Labs, Garmin, FitBark, i4c Innovations, Tagg, Whistle Labs Inc, Loc8tor, and IceRobotics, among others.
Market share calculation in this report is not done based on companies covered in it. The calculation of pet wearable market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
Regionally, U.S. experiences a strong hold in the overall pet wearable industry. The escalating spending of the Americans on pets and companion animals have substantially driven pet wearable demand in this region. According to National Pet Owners Survey conducted by the American Pet Products Association over 2015-2016, almost 65% of the overall American households owned a pet, which itself is a testimony of the huge application scope of the regional pet wearable market.
In fact, estimates depict that U.S. pet wearable industry held a billion-dollar business in 2016 and is slated to register a CAGR of 25% over 2017-2024. Furthermore, U.S. being one of the most technology affluent nations, the incorporation of wearable technology in monitoring pets’ activities is sure to upscale in the coming years, in turn providing a boost to pet wearable market share.
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Partial Chapter of the Table of Content
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Pet wearable industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Technology trends
2.1.4 Product trends
2.1.5 End-use trends
2.1.6 Application trends
Chapter 3 Pet Wearable Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 Application developers
3.3.5 Service providers
3.3.6 Distribution channel analysis
3.3.7 Distribution landscape
3.3.8 Vendor matrix
3.4 Technology & innovation landscape
3.5 Industry impact forces
3.5.1 Growth drivers
18.104.22.168 Need for remote monitoring and tracking pets in North America
22.214.171.124 Rising consciousness regarding medical diagnosis of pets in Europe
126.96.36.199 Need for obligatory RFID tagging for farm animals in Australia
188.8.131.52 Rising disposable income in Asia Pacific countries
184.108.40.206 Urbanization and rise in popularity of pets in China
3.5.2 Industry pitfalls and challenges
220.127.116.11 Power consumption and short battery life of devices
18.104.22.168 Lack of public awareness
3.6 Price trend analysis
3.6.1 Smart collars
3.6.2 Smart cameras
3.6.3 Smart harness
3.6.4 Smart vest
3.7 Regulatory landscape
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Company landscape, 2016
3.10.1 Strategy dashboard
3.10.1 Investment landscape
3.11 PESTEL analysis
3.12 Pet industry landscape
3.12.1 Number of pets, by region, 2016
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
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The RFID based devices accounted for over 30% revenue share in 2016. The growing trend of implementing RFID tags for dairy animals and pet tracking is a vital factor driving the RFID demand in the pet wearable market. These devices are designed for ultra-high and low frequencies, and are used in continuously recording readings of a pet's daily activities and for animal tracking respectively.
Smart collars in the pet wearable market accounted for over 40% of the global industry share in 2016. The collars are allowing owners to monitor the pet’s activity level and location at all times. These smart collars use Wi-Fi, GPS, sensors and cellular data to send statistics to the owner’s smartphone. The data collected through the collars is helping owners track their pet’s health and vital signs. Usage of GPS-based wellbeing trackers that utilize innovative applications for acquiring the pets ongoing updates on smartphones is a pivotal driving factor.
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