Press release
Pet Wearable Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region | Allflex Inc., Avid Identification Systems Inc., Dairymaster Ltd., Datamars Inc., Felcana, FitBark Inc
Pet Wearable Market Analysis
The Business Research Company presents an extensive market research report on the Pet Wearable Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The pet wearable market size has grown rapidly in recent years. It will grow from $3.44 billion in 2023 to $4 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to pet owner concerns for pet health and safety, increase in pet ownership and humanization, wearable technology adoption in other sectors, veterinary recommendations for monitoring, regulatory standards for pet safety.
The pet wearable market size is expected to see rapid growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to expansion of telemedicine for pets, customized pet health and wellness plans, ai-driven pet behavior analysis, growth in pet fitness and activity tracking, smart pet products and accessories. Major trends in the forecast period include wearables for specific pet species (e.g., cats, birds), wearable tech for pet emotion recognition, augmented reality experiences for pets, pet data marketplaces and analytics, subscription-based pet monitoring services..
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Key Market Players:
Allflex Inc., Avid Identification Systems Inc., Dairymaster Ltd., Datamars Inc., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Intervet Inc., Invisible Fence Inc., Konectera Inc., Scollar Inc., Tractive GmbH, Trovan Global, PetPace Ltd., Motorola Mobility LLC, Num'axes S.A., Dogtra Shop Ltd., Dog Tracker Nano, DeLaval Inc., Indiegogo Inc., GIBI Technologies Inc., Nedap NV, Omnia Technologies Pvt. Ltd., Pawbo Inc., Wagz Inc., Link AKC, Mars Incorporated, Loc8tor Ltd., Anser Innovation LLC, Pet Vu Inc., Petrek Mechanical Contractors Ltd., DOTT Services Ltd., WonderWoof Pvt. Ltd., Pawscout Inc., Voyce Inc., Petkit Network Technology Co. Ltd. are prominent players in the industry.
Market Drivers:
The rise in demand for pet monitoring globally contributed to the pet wearable market's growth. Pet owners often view pets as family members and are willing to spend on pet products and services. According to the 2023-2024 APPA National Pet Owners Survey, conducted by the American Pet Products Association, 86.9 million U.S. families bought new pets during the pandemic. Additionally, according to the Pet Food Manufacturers Association, a UK-based trade body for the pet food industry, 3.2 million households in the UK acquired a new pet during the COVID-19 pandemic. The increase in the number of pets indicates a rise in demand for pet-related goods, including pet wearable devices.
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https://www.thebusinessresearchcompany.com/report/pet-wearable-global-market-report
Market Segments Include:
1) By Product Type: Smart Collar, Smart Camera, Smart Harness and Vest, Other Product Types
2) By Technology: RFID Devices, GPS, Sensor, Bluetooth, Other Technologies
3) By Application: Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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