Press release
Pet Ownership Surge Fuels Growth In Smart Pet Camera Market: A Key Factor Shaping the Future of the Smart Pet Camera Market in 2025
Smart Pet Camera Market
The growth of the smart pet camera market is anticipated to be spurred by the increasing prevalence of pet ownership. This refers to the legal and ethical obligations involved in caring for and providing for an animal. The number of people who own pets for companionship and emotional support is increasing. The comfort and solace provided by pets can mitigate feelings of isolation. Smart pet cameras are utilized in pet ownership, empowering owners to remotely monitor and engage with their pets, thereby improving the pets' welfare and owners' peace of mind. For instance, recent data from the World Animal Foundation and UK-based Pet Ownership Foundation Statistics in August 2024 suggests that around 17.2 million UK households, which represents 60% of the total, are projected to take care of one of the 36 million pets in the UK. Consequently, the surge in pet ownership is influencing the expansion of the smart pet camera market.
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What is the future CAGR of the smart pet camera market, and how will it impact industry expansion?
In recent times, there has been a swift expansion in the size of the smart pet camera market. It's expected to escalate from a value of $2.73 billion in 2024 to roughly $3.16 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.0%. This substantial increase during the historic period can be traced back to factors like the increasing demand for exotic or specialty pets, heightened awareness regarding pet health and safety, the presence of smart pet cameras equipped with features such as live HD video streaming, a soaring demand for monitoring devices with multiple functionalities, and accessible pricing of pet cameras.
The size of the smart pet camera market is predicted to experience a swift expansion in the coming years, with a projection of reaching $5.75 billion by 2029, progressing at a compound annual growth rate (CAGR) of 16.1%. This projected growth in the specified period can be associated with a rise in pet ownership, notably amongst the millennial demographic, an increase in the trend of monitoring pet activities via smartphones and laptops, integration with IoT and intelligent home devices, the emerging popularity of multi-functional cameras, and the increasing demand for both monitoring and communication devices. Key trends anticipated to be dominant during the prediction period include the progression in technology, manufacturers investing in creating and advancing pet cameras, the incorporation of progressive technologies, the integration of convenient features such as cloud storage, and pet cameras that provide two-way video capabilities.
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What are the most significant trends transforming the smart pet camera market today?
Key players in the smart pet camera market like EZVIZ Inc. are delving into the innovation of products such as the C6 cameras to establish their dominance in the field. The C6 features high-resolution 2K+ imagery and is powered by AI, boasting capabilities such as tracking human and pet movement, auto-zoom functions and the provision of two-way communication. It also serves purposes outside of pet monitoring like home security. In the year 2022, particularly in March, the US-based smart home tech corporation, EZVIZ Inc., debuted their new AI-camera - the C6, which aims to assuage the worries of parents and pet owners. Harnessing the power of AI enables the C6 to notify users of different ongoing events like passing pedestrians, frolicking pets, and any abrupt loud sounds. Users can also avail of opportunities to call their kids or reassure a solitary pet, receive urgent alerts, and revisit any significant moments captured by the camera.
Which key market segments comprise the smart pet camera market and drive its revenue growth?
The smart pet camera market covered in this report is segmented -
1) By Product Type: One Way Video Functionality, Two Way Video And Audio Functionality
2) By Price Range: Low, Medium, Premium
3) By Distribution Channel: Offline, Online
4) By Application Type: Communication, Monitoring, Treat-Dispersing, Remote Training, Video And Photo Capture, Real-Time Bark Alert
Subsegments:
1) By One Way Video Functionality: Basic Monitoring Cameras, HD Video Cameras
2) By Two Way Video And Audio Functionality: Interactive Pet Cameras, Cameras With Treat Dispensers
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North America was the largest region in the smart pet camera market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart pet camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the smart pet camera market?
Major companies operating in the smart pet camera market are Robert Bosch Tool Corporation, TP-Link Technologies Co. Ltd., Arlo Technologies Inc., Nedis B.V., PAPAGO Inc., Dogness International Corporation, CleverPet Inc., Petcube Inc., Petcube Inc., Wyze Labs Inc., Furbo Co. Ltd., YI Technology, Kona Labs Inc., PETKIT Innovation Labs Inc., Petnet GmbH, Anker Innovations Limited, Shenzhen Woot Technology Co. Ltd., Shenzhen Obexx Intelligent Technology Co. Ltd., Sure Petcare Limited, Shenzhen Petfon Technology Co. Ltd., Skymee Co. Ltd., Fujian Meike Network Technology Co. Ltd., Petzi Inc., PetChat Inc., TESLA Solar s.r.o
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What Is Covered In The Smart Pet Camera Global Market Report?
•Market Size Forecast: Examine the smart pet camera market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart pet camera market for a structured understanding.
•Key Players Overview: Analyze major players in the smart pet camera market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart pet camera market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart pet camera market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart pet camera market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart pet camera market.
•Competitive Landscape: Review strategic developments in the smart pet camera market, including expansions, agreements, and new product launches.
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