Pet Wearable Market Size, Share & Growth Report 2024 T0 2032

Summary:

• The global pet wearable market size reached USD 2.3 Billion in 2023.

• The market is expected to reach USD 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 12% during 2024-2032.

• Region-wise, the market has been segmented into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.

• Based on the product, the market has been categorized into smart collar, smart vest, smart harness, smart camera, and others.

• Based on technology, the market has been classified into GPS, RFID, sensors, and others.

• Because of application, the market has been segmented into identification and tracking, monitoring and control, medical diagnosis and treatment, facilitation, safety and security.

• Because of the end-user, the market has been divided into households and commercial.

• Based on the distribution channel, the market has been categorized into modern trade, franchised outlets, specialty stores, e-commerce, and others.

• The rising demand among owners to enhance their pets' well-being and safety is a primary driver of the pet wearable market.

• Technological advancements and the integration of advanced features are reshaping the pet wearable market.

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Industry Trends and Drivers:

• Increasing Pet Ownership and Humanization Trends:

The rising pet ownership across the globe is one of the major factors boosting the market growth. Moreover, the growing focus on owners to enhance their pets' well-being and safety is creating a positive outlook for the market. Besides this, the rising humanization of pets, as animals are viewed as family members, is strengthening the market growth.

Furthermore, the growing investment by pet owners in technology that promotes health and happiness, such as global positioning system (GPS) tracking collars and fitness monitors, is contributing to the market growth. These devices help in tracking the location of pets and monitor their activity levels and health metrics, appealing to health-conscious pet owners.

Additionally, the growing awareness of pet wellness and preventive care, fostering the demand for wearables that can alert owners to potential health issues and enable timely veterinary visits, is boosting the market growth.

• Rapid Technological Advancements and Connectivity:

The rising integration of advanced features such as GPS tracking, health monitoring, and real-time alerts into wearable devices is fueling the market growth. These products utilize the Internet of Things (IoT) capabilities, allowing pet owners to connect to mobile applications that provide insights into their pets' behaviors and health status.

Moreover, the introduction of features like activity tracking, heart rate monitoring, and temperature sensors to improve pet safety and facilitate a deeper understanding of pet health is enhancing the market growth.

Furthermore, the rising affordability and accessibility of this technology that propel a wider range of consumers to invest in these devices is driving market growth.

• Rising E-commerce Growth and Marketing Strategies:

The expansion of e-commerce platforms as online shopping provides pet owners with convenient access to a variety of wearable options, allowing them to compare products and read reviews is catalyzing the market growth.

Moreover, the introduction of targeted marketing strategies that highlight the benefits of pet wearables, such as health monitoring and safety features, is bolstering the market growth. Along with this, the establishment of social media campaigns, influencer partnerships, and educational content to reach pet owners and promote awareness of available technologies is anticipated to drive the market growth.

Furthermore, the growing popularity of subscription models and bundled services that offer ongoing support and additional features is contributing to the market growth.

Pet Wearable Market Report Segmentation:

Breakup By Product:

• Smart Collar
• Smart Vest
• Smart Harness
• Smart Camera
• Others

Based on the product, the market has been categorized into smart collar, smart vest, smart harness, smart camera, and others.

Breakup By Technology:

• GPS
• RFID
• Sensors
• Others

Based on technology, the market has been classified into GPS, RFID, sensors, and others.

Breakup By Application:

• Identification and Tracking
• Monitoring and Control
• Medical Diagnosis and Treatment
• Facilitation, Safety and Security

Based on application, the market has been segmented into identification and tracking, monitoring and control, medical diagnosis and treatment, facilitation, safety and security.

Breakup By End-User:

• Households
• Commercial

Based on the end-user, the market has been divided into households and commercial.

Breakup By Distribution Channel:

• Modern Trade
• Franchised Outlets
• Specialty Stores
• E-Commerce
• Others

Based on the distribution channel, the market has been categorized into modern trade, franchised outlets, specialty stores, e-commerce, and others.

Breakup By Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Region-wise, the market has been segmented into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.

Top Pet Wearable Market Leaders:

The pet wearable market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

• Cybortra Technology Co. Ltd
• Dogtra
• FitBark Inc.
• Garmin Ltd.
• High Tech Pet Products Inc.
• Invisible Fence Inc.
• Radio Systems Corporation
• Loc8tor Ltd.
• Motorola (Lenovo)
• Petcube
• PetPace Ltd.
• Tractive
• Whistle Labs Inc

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Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis

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This release was published on openPR.