Smart Pet Locator And Motion Detector Market Segments, Analysis, Overview, Outlook Report: 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Smart Pet Locator And Motion Detector Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The smart pet locator and motion detector market size has grown strongly in recent years. It will grow from $92.25 billion in 2023 to $100.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased awareness of pet safety, rising number of lost pets, growth in e-commerce platforms, increased urbanization, and increase in outdoor activities with pets.

The smart pet locator and motion detector market size is expected to see strong growth in the next few years. It will grow to $143.40 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rising pet ownership, growing awareness of pet safety, increased disposable income, increasing demand for real-time tracking and monitoring, and rise of pet healthcare awareness. Major trends in the forecast period include technological advancements, integration with smart home systems, AI-powered pet tracking, bluetooth technology, and subscription-based services.

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Market Drivers and Trends:

The increasing pet ownership is expected to propel the growth of the smart pet locator and motion detector market going forward. Pet ownership refers to the legal and ethical responsibility of caring for and controlling a domesticated animal as a companion. The rising pet ownership can be attributed to factors such as companionship and emotional support, improved living standards, urbanization, changing family structures, and increased awareness of the benefits of pet ownership for health and well-being. Pet owners use smart pet locators and motion detectors primarily to enhance pet safety, monitor their activities, and provide peace of mind to owners. For instance, in June 2021, according to the American Pet Products Association (APPA), a US-based non-profit association, the number of Americans keeping pets increased from 67% to 70%. Therefore, increasing pet ownership is driving the growth of the smart pet locator and motion detector market.

Major companies operating in the smart pet locator and motion detector market are focusing on developing innovative technologies, such as AI wearables for pets, to improve overall pet safety and monitoring capabilities. An AI wearable for pets integrates AI technology into a wearable device equipped with sensors to track location, monitor health metrics, and analyze behavior patterns. For instance, in January 2024, Invoxia, a France-based consumer electronics company, launched the Minitailz Smart Pet Tracker, an artificial intelligence wearable for dogs and cats. This innovative device integrates advanced sensors to track and analyze heart rate variability (HRV), providing insights into the pet's cardiovascular health. It also includes GPS tracking capabilities for real-time location monitoring, ensuring pets can be easily found if lost. The wearable is designed to be lightweight and comfortable for pets to wear continuously, enabling seamless monitoring without causing discomfort.

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Major Key Players of the Market:

Tractive GmbH, Whistle Labs Inc., Petsafe, Pitpatpet Ltd., Weenect SAS, Invoxia SA, PetPace Ltd., Link My Pet Wearables Inc., Kippy Srl, Petrics Inc., KYON LLC, Wagz Inc., Findster Technologies SA, Pawfit, Girafus Technology GmbH, Halo Collar Inc., Cube Tracker LLC, Dynotag Inc., Aarvi Trade Solution Private Limited, FitBark Inc., FitBark Information, Jiobit Inc.

Smart Pet Locator And Motion Detector Market 2024 Key Insights:

• The smart pet locator and motion detector market size is expected to see strong growth in the next few years. It will grow to $143.40 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Increasing Pet Ownership Driving The Growth Of The Smart Pet Locator And Motion Detector Market
• Innovative Technologies In The Smart Pet Locator And Motion Detector Market
• North America was the largest region in the smart pet locator and motion detector in 2023

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