Press release
Pet Wearable Market: Key players are Dairymaster, DeLaval, DogTelligent, Fitbark, Garmin Ltd., GoPro, i4C Innovations, IceRobotics, Konectera, Loc8tor, Motorola, Nedap N.V., Otto Petcare, PetPace LLC, Pet Vu, Inc., Pod Trackers, WÜF
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Pet Wearable Market size is set to exceed USD 8 billion by 2024; according to a new research report by Global Market Insights, Inc. The global shipments are forecast to grow at over 25% CAGR from 2017 to 2024. The increasing disposable income and growing adoption of pets in several households is expected to drive the pet wearable market over the forecast timeframe. According to American Pet Products Association (APPA), over 65% of American households own a pet. The owners are increasing their spending on smart products that can be controlled remotely and monitor their pet’s health and fitness. Moreover, safety is primary for the owners while buying product such as collars, harness and vest for their pets. This is encouraging players to manufacture products that are safer for both owners and pets driving the high adoption rate. It is estimated that by 2024, owners will increase their spending on pets by 55% in countries such as the U.S., Canada, UK, Germany and Australia.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Dairymaster
• DeLaval
• DogTelligent
• Fitbark
• Garmin Ltd.
• GEA Group Aktiengesellschaft
• GoPro
• i4C Innovations
• IceRobotics
• Konectera
• Loc8tor
• Motorola
• Nedap N.V.
• Otto Petcare
• PetPace LLC
• Pet Vu, Inc.
• Pod Trackers
• Ridogulous Labs, Inc.
• Silent Herdsman Limited
• Tractive
• Whistle Labs LLC
• WÜF
Increasing awareness towards pet fitness & health is expected to offer significant prospects for the development of innovative products for the pet wearable market. As owners look to pamper their pets, they will invest more in high-quality activity monitoring products. Demand for GPS based products has witnessed considerable rise over the years due to the increase in penetration of mapping applications & smartphones coupled with the growing need for tracking and real-time positioning of pets across the globe. In addition, service providers have developed strategic agreements with application developers, smartphone manufacturers, and stores to increase the usage of GPS in innovative applications which is anticipated to escalate pet wearable market size.
Smart cameras accounted for more than 25% of the overall pet wearable market share in 2016. The cameras monitor the pet’s outdoor activity and are help owners to keep track of their pets when they are away. Owners buying the smart cameras are valuing the interactivity of the products which are enabled by its laser toy and two-way audio features.
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Medical diagnostic tagging accounted for more than 30% of the pet wearable market share in 2016. Medical treatments which use electrics and electronics is steadily being adopted to monitor cooling, heating, and drug delivery in animals. The animals which are most likely to employ wearable devices in high volume are controlled by humans include dairy cows, horses, cats and dogs which is anticipated to increase the global volume sales.
Browse Full Report: https://www.gminsights.com/industry-analysis/pet-wearable-market
The players operating in the pet wearable market include Dairymaster, DeLaval, Inc., Whistle Labs Inc., Nedap N.V., Scollar, Pet Vu Inc., and Fitbark, etc. The industry is extremely competitive which will lead to consolidation in the next seven years. Many vendors are extending their businesses to emerging markets such as Asia Pacific and Latin America. The growing demand for pet wearables in several applications has pushed manufacturers and service providers working across the ecosystem to develop innovative products to meet consumer requirements, thereby resulting in high growth opportunities.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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