Global Pet Wearable Market Size, Share, and COVID-19 Impact Analysis, By Product (Smart Camera, Smart Harness, Smart Collar, Smart Vest, Others), By Technology (RFID, GPS, Sensors, Bluetooth, Others), By Application (Identification & Tracking, Behaviour Monitoring & Control, Medical Diagnosis, Facilitation, Safety & Security & Treatment, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Electronics, ICT & Media
Global Pet Wearable Market Insights Forecasts to 2030
- The Pet Wearable Market size was valued at USD 2.4 billion in 2021
- The market is growing at a CAGR of 18.6% from 2022 to 2030
- The Global Pet Wearable Market is expected to reach USD 6.83 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Pet Wearable Market is expected to reach USD 6.83 billion by 2030, at a CAGR of 18.6% during the forecast period 2022 to 2030. The COVID-19 pandemic also has had a major impact on the global pet wearable manufacturing sector. In addition to labour difficulties, the decline in pet wearable production and exports in countries including the United States, Canada, United Kingdom, China, Germany, Japan, and South Korea has significantly decreased global market revenues in 2020.
Devices that can be worn on a pet's body, known as pet wearables, can help with identification, tracking, monitoring, coordinating, medical diagnosis, medication, ease, surveillance, and safety, among other things. A GPS tracking device allows owners to keep track of their pet's location and is the simplest basic type of pet wearable. By monitoring pet behaviors and well-being, advanced pet wearables can perform as an animal translation device, assisting owners in better understanding their pets' needs and feelings and fostering a closer relationship between them. More significantly, they lay the groundwork for domestic and international veterinary care and gather vital information for use by vets.
This research report categorizes the market for global pet wearable market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the pet wearable market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the pet wearable market.
Increased understanding of pets' physical and mental health, expanding IoT adoption, increased demand for pet monitoring and technological advancements are driving the growth of the pet wearable market. Every electronic device depends on technology, thus any developments in the preceding areas will help the pet wearables market expand. Additionally, pet monitoring is becoming more popular as the number of pet owners grows, particularly among millennials. Employing pet wearables has advantages, such as connecting humans to their pets and tracking their daily activities and health with pet wearable devices. This tracking continues to produce data on food intake, heart, and cardiac rates, as well as patterns and calories burned by pets throughout the day.
Global Pet Wearable Market Report Coverage
|Market Size in 2021:||USD 2.4 Billion|
|Forecast Period 2021-2030 CAGR:||18.6%|
|2030 Value Projection:||USD 6.83 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||209|
|Tables, Charts & Figures:||119|
|Segments covered:||By Product, By Technology, By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Avid Identification Systems, Inc., Allflex USA Inc., Whistle Labs, Inc., Tractive, GoPro, IceRobotics, Datamars, FitBark, Nedap, Dropcam, Garmin Ltd., Voyce, Invisible Fence, KYON, Silent Herdsman Limited, Pet Vu, Inc., Link AKC, Felcana, Invoxia, Loc8tor Ltd., Tag, Scollar, PetPace LLC, I4c Innovations, Garmin Ltd, Dogtra.|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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A lack of public awareness is expected to be a major hindrance to the global pet wearable market's growth. The device's high power consumption and short battery life will also hinder market growth during the forecasted period. Furthermore, the pet wearable market growth is expected to be hampered by compliance with stringent government regulations.
- In 2021, the smart collar segment is witnessing a higher growth rate over the forecast period.
Based on products, the global pet wearable market is segmented into the smart camera, smart harness, smart collar, smart vest, and others. Among these, the smart collar segment is witnessing a higher growth rate over the forecast period. The increasing demand for pet monitoring among working people is one of the main growth factors for the market for smart-connected pet collars. The smart pet collar is a device that connects with a smartphone via Wi-Fi or Bluetooth and provides details about the animal, such as its whereabouts, training routine, and other things. It is a multipurpose tool, unlike the current standard collar. Additionally, pet owners will be able to keep an eye on many constituents of their pet's health.
- In 2021, the GPS segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the global pet wearable market is segmented into RFID (Radio Frequency Identification), GPS (Global Positioning System), Sensors, Bluetooth, and others. Among these, the GPS segment is witnessing significant CAGR growth over the forecast period. The increasing demand for GPS-based pet wearable devices that track pet activity while maintaining security, increased real-time positioning, smartphone adoption, and an increase in mapping is driving the development. The increasing demand for GPS-based pet wearable devices that track pet activity while maintaining security, increased real-time positioning, smartphone adoption, and an increase in mapping are driving the development of the pet wearable market.
- In 2021, the identification & tracking segment is dominating the market with the largest market share of 60% over the forecast period.
Based on application, the global Pet Wearable market is segmented into identification & tracking, behaviour monitoring & control, medical diagnosis & treatment, facilitation, safety & security, and others. Among these, the identification & tracking segment dominates the market with the largest market share of 60% over the forecast period. The ability to access location history and attributes like weight and size are major factors in the development of pet wearable technology. Pet owners may quickly and easily identify their animals using their smartphones to track down their whereabouts. These gadgets give pet owners a safe and convenient method to keep an eye on their pet’s activities, which contributes to the market's popularity. As a result of the widespread adoption of pet wearables such as smart collars and GPS tracking of pet animals, the segment is expected to expand significantly over the forecast period.
Regional Segment Analysis of the Pet Wearable Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market in 2022, with a 40% market share.
North America dominated the market in 2022, with a 40% market share. The accessibility of advanced technologies in the region, as well as increased spending on pet healthcare, is also expected to drive regional pet wearable market growth. The major driver propelling the expansion of the pet wearable market in North America is the rise in pet owner awareness of pet health issues, the expansion of product innovation and sophisticated technology, and a large proportion of tech-savvy pet owners. Furthermore, a high concentration of significant companies in the area and an increase in product launches are expected to fuel market expansion. As a result of the increasing adoption of companion animals, high disposable income, and rising per capita animal healthcare expenditure, the region is projected to grow significantly during the forecast time frame.
The report offers the appropriate analysis of the key organizations/companies involved within the global pet wearable market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players
- Avid Identification Systems, Inc.
- Allflex USA Inc.
- Whistle Labs, Inc.
- Garmin Ltd.
- Invisible Fence
- Silent Herdsman Limited
- Pet Vu, Inc.
- Link AKC
- Loc8tor Ltd.
- PetPace LLC
- I4c Innovations
- Garmin Ltd
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In January 2022, Invoxia unveiled the Invoxia Smart Dog Collar, the first biometric health collar for dogs, which is designed to track a pet dog's vitals, activity, and whereabouts around the clock.
- In July 2021, Whistle Labs, Inc. announced the release of its newest pet wearable, "The Whistle Switch Smart Collar," which is size-inclusive and provides total health and fitness tracking as well as 24-hour GPS location monitoring of pets.
- In April 2022, PurrSong, Inc. introduced the LavvieTag, a cat smart-care fitness tracker. With LavvieTAG's Activity Analysis Sensor, pet owners can collect their cat's daily walking, running, sleep, and calorie consumption.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global pet wearable market based on the below-mentioned segments:
Pet Wearable Market, By Product
- Smart Camera
- Smart Harness
- Smart Collar
- Smart Vest
Pet Wearable Market, By Technology
- RFID (Radio Frequency Identification)
- GPS (Global Positioning System)
Pet Wearable Market, By Application
- Identification & Tracking
- Behaviour Monitoring & Control
- Medical Diagnosis & Treatment
- Facilitation, Safety & Security
Pet Wearable Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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