Pet Wearable Market Growth Opportunity 2024 key Players: DeLaval, Garmin International, GEA Group, GoPro, Motorola Mobility (a Lenovo Company), Nedap, Whistle Labs, Dairymaster

According to a new research report by Global Market Insights, Inc., Global Pet Wearable Market size is set to exceed USD 8 billion to growth is pegged at over 20% CAGR estimation 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. 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.

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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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. DeLaval
2. Garmin International
3. GEA Group
4. GoPro
5. Motorola Mobility (a Lenovo Company)
6. Nedap
7. Whistle Labs
8. Dairymaster

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.

Growing adoption of dogs and cats in several households in the U.S. is expected to drive the pet wearable market demand over the forecast timeframe. As pets are becoming an important part of the family, pet owners are investing more in wearable devices which are focused in monitoring their health and fitness. The devices enable monitoring of heart-rate, tracking & surveillance, and sleep patterns and may feature virtual boundary alert systems and geofencing capability to notify owners of their pet’s security.

The players operating in the pet wearable market include Dairymaster, DeLaval, DogTelligent, FitBark, Garmin International, GEA Group, GoPro, i4C Innovation, IceRobotics, Loc8tor Ltd, Motorola Mobility (a Lenovo Company), Nedap, Otto Petcare, PetPace, Pet Vu - GPS Pet Tracker, Pod Trackers, Silent Herdsman/ Afimilk Ltd, Tractive, Whistle Labs, and WÜF.

Browse key industry insights spread across 230 pages with 180 market data tables & 29 figures & charts from the report, Pet Wearable Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/pet-wearable-market

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.

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