Press release
Global Smart Pet Camera Market Projected to Grow at 15.6% CAGR, Reaching $5.57 Billion by 2029
Smart Pet Camera Market
What Is the Expected CAGR for the Smart Pet Camera Market Through 2025?
In recent times, there has been swift expansion in the size of the smart pet camera market. We anticipate an increase from $2.73 billion in 2024 to $3.12 billion in 2025, which indicates a compound annual growth rate (CAGR) of 14.3%. The surge in the past can be traced back to a rise in demand for exotic or specialty pets, an increased understanding of pet health and safety, the emergence of smart pet cameras boasting features such as live HD video streaming. Additionally, there has been a significant increase in the need for multifunctional monitoring equipment and the availability of reasonably priced pet cameras has also played a part.
What's the Projected Size of the Global Smart Pet Camera Market by 2029?
In the coming years, the smart pet camera industry is projected to experience a substantial increase in size. By 2029, it is predicted to reach a net worth of $5.57 billion, with a compound annual growth rate (CAGR) of 15.6%. This projected growth can be attributed to factors such as the surge in pet ownership, particularly amongst the millennial generation, the increasing tendency to monitor pets' activities via smartphones and laptops, incorporation with smart homes, and Internet of Things (IoT) devices, the rising popularity of multi-functional cameras, and the demand for surveillance and communication tools. The forecast period will likely behold the key trends such as advancements in technology, greater investment by manufacturers in developing more sophisticated pet cameras, integration of advanced technologies, the inclusion of advanced features like cloud storage options, and pet cameras with two-way video functionality.
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Top Growth Drivers in the Smart Pet Camera Industry: What's Accelerating the Market?
The surge in the number of people owning pets is predicted to bolster the expansion of the smart pet camera market. Owning a pet denotes the lawful and moral obligation of looking after and catering to an animal's needs. This trend is escalating as pets provide companionship and emotional support; their presence helps to ease feelings of isolation. Smart pet cameras are utilized in pet ownership to remotely check on and engage with pets, boosting their quality of life and giving their owners peace of mind. For instance, data from the World Animal Foundation revealed that in August 2024, UK's Pet Ownership Foundation Statistics indicated approximately 17.2 million households, accounting for 60% of the total, are estimated to have one of the 36 million pets in the UK. Thus, the growing trend in pet ownership is fueling the expansion of the smart pet camera market.
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What Trends Will Shape the Smart Pet Camera Market Through 2029 and Beyond?
In an effort to establish a competitive edge, key players in the smart pet camera industry are introducing cutting-edge products such as the C6 cameras. The C6, a product from EZVIZ, a renowned US-based smart home tech firm, comes laden with features such as AI-powered human and pet detection, 2K+ resolution, auto-zoom tracking, and two-way calling, making it ideal for home safety and monitoring. In March, 2022, the C6 smart camera was launched by EZVIZ Inc. with the aim of easing the concerns of parents and pet owners. The AI-enhanced C6 can notify users of various events such as passing pedestrians, leaping pets, or sudden loud sounds. It allows users to receive calls from children or communicate with a solitary pet, receive emergency alerts, and replay saved moments captured on the camera.
What Are the Main Segments in the Smart Pet Camera Market?
The smart pet cameramarket 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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Which Top Companies are Driving 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
Which Regions Will Dominate the Smart Pet Camera Market Through 2029?
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.
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