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Global Pet Wearable Market Forecast 2023-2032 - Size, Lucrative Segments And Leading Regions
Pet Wearable Market
The Business Research Company's Pet Wearable Global Market Report 2023 identifies rise in demand for pet monitoring as the major driver for the Pet Wearable market's growth in the forecast period. According to a COVID-19 Pulse Study 2020, conducted by the American Pet Products Association, 11.38 million U.S. families brought new pets during the pandemic. Furthermore, 72% of respondents in the study stated that their pet's diet and health were of utmost priority for them.
The global pet wearable market size grew from $2.47 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the pet wearable market is expected to grow to $5.24 billion in 2027 at a CAGR of 16.4%.
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Major competitors in the Pet Wearable market are Allflex USA Inc., Avid Identification Systems Inc., Dairymaster, Datamars Inc., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Intervet Inc., Invisible Fence.
A key trend in the Pet Wearable market includes companies operating in the pet wearable market. IoT-enabled pet tracking devices utilize IoT technology that uses GPS (Global Positioning System) or cellular tower triangulation to pinpoint the tracker's location. This data can be accessed by a companion application that is installed on the pet owner's smartphone. The advantages of IoT-enabled pet trackers include high precision in location tracking, geofencing notifications if the pet leaves a specified area, and longer battery life. For instance, in September 2021, Vodafone Group PLC, a UK-based multinational telecommunications company, launched the Curve Smart GPS tracker pack which is an IoT-enabled tracker which can be used to accurately pinpoint the pet's location.
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The Pet Wearable market is segmented -
• By Product Type: Smart Collar, Smart Camera, Smart Harness and Vest, Other Product Types
• By Technology: RFID Devices, GPS, Sensor, Bluetooth, Other Technologies
• By Application: Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Pet Wearable market.
The Business Research Company's "Global Pet Wearable Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Pet Wearable Market Include:
1. Executive Summary
2. Pet Wearable Market Characteristics
3. Pet Wearable Market Trends And Strategies
4. Pet Wearable - Macro Economic Scenario
5. Pet Wearable Market Size And Growth
…………………………………………………………….
26. Africa Pet Wearable Market
27. Pet Wearable Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pet Wearable Market
29. Pet Wearable Market Future Outlook and Potential Analysis
30. Appendix
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