Press release
Pet Wearable Market Growth: Key Drivers, Market Size Projections, and Emerging Trends
Pet Wearable Market Growth
What Is The Projected Market Size Of The Global Pet Wearable Market And Its Growth Rate?
The pet wearable market has been exhibiting swift growth, attributed to various factors, and is projected to accelerate further:
- The market size was valued at $3.94 billion in 2024.
- The size is predicted to reach $4.55 billion in 2025, growing at a CAGR of 15.6%.
- By 2029, the market forecast attains a value of $8.83 billion at a CAGR of 18.0%.
Significant contributors to this growth include factors such as concerns for pet health and safety, increasing pet ownership, and wearable technology adoption.
What Is Driving The Growth In The Pet Wearable Market?
Fueling the growth of the pet wearable market globally is the rising demand for pet monitoring. Viewed as family members, pets garner significant attention and spending from their owners, who are continually investing in pet products and services. One pivotal study underlining this perspective is the 2023-2024 APPA National Pet Owners Survey by the American Pet Products Association. It revealed that during the pandemic, 86.9 million U.S. families acquired new pets. Simultaneously, the Pet Food Manufacturers Association, a UK-based trade organization, stated that 3.2 million UK households got a new pet during the COVID-19 pandemic. Such an expansion in pet numbers points to an upswing in pet-related goods demands, including pet wearable devices.
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Who Are the Key Players Driving Pet Wearable Market Growth?
- Allflex Inc.
- Avid Identification Systems Inc.
- Dairymaster Ltd.
- Datamars Inc.
- Felcana
- FitBark Inc.
- Garmin Ltd.
- GoPro Inc.
- Invisible Fence Inc.
- Konectera Inc.
- Scollar Inc.
- Tractive GmbH
- Trovan Global
- PetPace Ltd.
- Motorola Mobility LLC, and more.
What Are The Key Trends In The Pet Wearable Market?
- Wearable technologies for specific pet species such as cats and birds.
- Wearable tech assisting in pet emotion recognition.
- Augmented reality experiences tailored for pets.
- Emergence of pet data marketplaces and analytics.
- Rise of subscription-based pet monitoring services.
What Are The Segments Of The Global Pet Wearable Market?
The Pet Wearable market is segmented based on:
- Product Type: Smart Collar, Smart Camera, Smart Harness and Vest, Other Product Types
- Technology: RFID Devices, GPS, Sensor, Bluetooth, Other Technologies
- Application: Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Other Applications
Which Region Leads The Pet Wearable Market?
North America held dominion in the pet wearable market in 2024 as the largest region. However, Asia-Pacific is anticipated to emerge as the fastest-growing region in the forecast period besides other regions such as Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Pet Wearable Market Global Market Report?
- Market Size Analysis: Analyze the Pet Wearable Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pet Wearable Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pet Wearable Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pet Wearable Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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