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Pet Wearables Market Key Vendors, Key Segment, Key Companies, Growth Opportunities By 2022-2030

09-22-2022 07:29 AM CET | Health & Medicine

Press release from: We Market Research

Pet Wearables Market

Pet Wearables Market

The Global Pet Wearables Market valued at US $2.49 Billion in 2022 is anticipated to reach a value of US $7.24 Billion in 2030, rowing at a CAGR of 14.6%.

Global Pet Wearables Market: Overview

The pet wearable market has attracted a considerable funding over the past few years for an array of technology-enhanced products for pets that includes, cameras and wearables.

The pet wearable industry is still in its initial stages of development. But, it is still characterized by rising competition among key stakeholders and the threat of new entrants.

Additionally, the main focus of OEM has been the development of products with the capability of efficiently collecting health metrics over the forecast period.

Key market trends:

Every market has its growth determinants and challenges. One of the major factor that has fuelled the market growth over the forecast period is the IoT (Internet of Things). It has played a crucial role in the market growth over the forecast period.

The transmission of real-time data concerning pet health to veterinarians or pet owners has been supported by the connectivity offered by these devices. Also, the non-invasive wearable sensor system in combination with the photoplethysmograph (PPG), electrocardiogram (ECG), and inertial measurement units (IMU) are also used to continuously monitor the health condition of pets integrated with the wireless technology, and handheld devices that has made the health monitoring easier.

Also, advancements in technology has also boosted the market growth over the forecast period. But on the flip side, the compliance with strict government regulations have hampered the market growth over the forecast period.

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Segmental analysis of the Market:

Based on Technology
• RFID
• GPS
• Sensors

The RFID segment has dominated the market growth over the forecast period. This is because the RFID trackers helps in monitoring parameters that concerns health such as, variability in heart rate, calorie intake, body temperature, and pulse. These benefits have played a key role in up-keeping segment growth over the forecast period.

Based on Application
• Identification & Tracking
• Behavior Monitoring & Control
• Facilitation, Safety & Security
• Medical Diagnosis & Treatment

The demand for Identification and Tracking segment has dominated the market growth over the forecast period. This is because of the access to location history and weight and dimensions.

North America is anticipated to amplify at a considerable CAGR

The global pet wearable market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, South America, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of rising spending on pet healthcare and The availability of sophisticated technologies in the region.

Competitive Landscape:

Some of the prominent companies operating in the market are

• Avid Identification Systems, Inc.
• Allflex USA Inc.
• Datamars
• FitBark
• Garmin Ltd.
• Invisible Fence
• Link AKC
• Loc8tor Ltd.
• PetPace LLC
• Whistle Labs, Inc.

Major questions answered in this report:

• What is the growth rate of the global pet wearables market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

Key takeaways from the report:

• The global pet wearables market is projected to expand at a CAGR of 14.6% over the forecast period.
• The IoT (Internet of Things) has played a crucial role in the market growth and is aiding market progression.
• The RFID segment is poised to expand significantly over the forecast period.
• North America has dominated the regional market sphere over the forecast period

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We Market Research
Phone: +1(929)-450-2887
Email: sales@wemarketresearch.com

About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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