Press release
Global Pet Wearables Market is set to register a steady CAGR of 4.3% between 2017 and 2022
Fact.MR
The scope of Fact.MR’s report is to analyze the global pet wearables market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Pet wearables manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to pet wearables.
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Key Excerpts From the Report Include:
1. Based on products, demand for GPS trackers for pets is projected to remain relatively higher as compared to other pet wearable products. Global sales of GPS trackers for pets currently commands for close to 33% market share in terms of revenue. Owners are fitting GPS trackers in collars of their pets to track their position 24X7. Towards the end of 2022, more than US$ 1,100 Mn GPS trackers are estimated to be sold worldwide.
2. Among regions, North America is expected to remain the most lucrative market for pet wearables during the forecast period. This is largely due to high demand for pet wearables such as GPS trackers for pets and pet cameras in the region. Between 2017 and 2022, the market in the region is expected to surge at a steady CAGR of 4.3%.
3. On the basis of distribution channel, the E Commerce segment is expected to retain its top position over 2022. The segment currently represents nearly one-third share of the global market in terms of revenue. By the end of forecast, this segment is expected to reach a valuation is excess of US$ 1,200 Mn.
4. By application, the medical diagnosis & treatment segment is projected to highly attractive in 2017 and beyond. In terms of revenue, the segment currently commands for around 33% revenue share of the global market. In addition, the segment is anticipated to surpass a market valuation of US$ 1,180 Mn by 2022-end, reflecting an above average CAGR.
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GPS Trackers Will Continue to Be the Most Sought-After Pet Wearable Product
On the basis of product, the GPS trackers segment is expected to remain highly lucrative in 2017 and beyond. The segment currently represents around 33% revenue share of the global market and is expected to register a CAGR of 4.2% during the forecast period.
On the basis of region, the pet wearables market in North America is expected to remain dominant throughout the assessment period. This is primarily owing to the high willingness of owners to provide their pets with optimum care. During the forecast period, North America’s pet wearables market is projected to expand at a CAGR of 4.3%.
Competition Tracking
FitBark, Inc., Loc8tor Ltd, PetPace LLC, Tractive GmbH, Whistle Labs LLC, Garmin International, Inc., Gibi Technologies Inc, GoPro, Inc., Motorola, IceRobotics, Ridogulous Labs Inc. are the key market participants profiled in the Fact.MR’s report. Many of these companies are stepped up their efforts in research and development activities in order to introduce more innovative products.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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