Global interactive pet monitors market is expected to cross $128 billion by 2022.

Global interactive pet monitors market is expected to grow at a CAGR of 40.8% and 50.2% in terms of revenue and volume, respectively, during the forecast period 2016−2022.

The revenue is expected to increase during the forecast period due to rising awareness, improving internet connectivity and smartphone penetration, growing working population, and increasing demand from the millennial generation. Further, innovations in interactive pet monitors would boost investors’ confidence in the market, and the market will witness an increase in the VC funding during the forecast period. Monitoring devices with integrated food dispenser would pick up the pace and will be the largest market both in terms of sales volume and revenue. North America region will be the dominant region both in terms of revenue and shipment followed by Europe.

View report: https://www.arizton.com/reports/smarttech-market-analysis/interactive-pet-monitors-market

Competitive scenario is moderate

There are multiple vendors offering similar products from which customers can draw a comparison.
Major vendors profiled in the report are as following:
● Petcube
● Motorola Mobility
● Reolink
Other vendors in the market include Tomofun, Petzila, iBaby Labs, CleverPet, Shanghai PETKIT, Feed and Go, Anser Innovation, and Pawbo.

Monitoring devices with integrated food dispenser will surpass stand-alone devices

The stand-alone monitoring devices segment held 52.06% of the volume sales in the global interactive pet monitors market in 2016 and accounted as the largest segment. However, the market is likely to witness a major shift in this segment, and the monitoring devices with integrated food dispenser will surpass the stand-alone devices in 2022. Food integrated devices will constitute more than 73% of the global sales volume. Also, in terms of revenue, food integrated devices will be a dominant segment. The ASP of interactive pet monitors devices is expected to decline during the forecast period because of high demand.

North America to remain the dominant market

Globally, North America is the largest market for pet care, and the interactive pet monitors market is growing rapidly. This will fuel the demand for interactive pet monitors in the region coupled with the rise in adoption of pets in the region. Europe, led by the UK and Germany, will continue to be the second largest market. The market in APAC is characterized by demand for low-cost products. Further, there was limited awareness of interactive pet monitors in the region. However, as the awareness about the devices grows during the forecast period along with the better internet infrastructure and the rise in internet and smartphone penetration, the interactive pet monitors market is likely to witness growth in the adoption of interactive pet monitors in the region.

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