Pet Wearable Market Outlook – 2030
Pet wearables are devices that can be worn on a pet's body to help with identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, security, and other things. The most basic sort of pet wearable is a GPS tracking gadget that allows owners to keep track of their pets' whereabouts. Improved pet wearables can act as an animal translation device by quantifying pet behaviors and well-being in order to assist owners better understand their pets' needs and moods, as well as bringing them closer together. More significantly, they build the framework for animal healthcare at home or elsewhere and collect valuable data that veterinarians may use. All these factors are assisting the growth of pet wearable market share globally.
The global pet wearable market is segmented on the basis of product, component, animal type, application, and region. Based on product, the market is divided into smart camera, smart harness, smart collar & vest, and others. In terms of component, the market is categorized into Wi-Fi chips, memory, displays, GPS chips, RFID chips, batteries, sensors, bluetooth chips, processors, cellular chips, and others.
On the basis of animal type, the market is divided into dogs, cats, and others. In terms of application, the market is segregated into identification & tracking, monitoring & control, medical diagnosis & treatment, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global pet wearable industry include Whistle Labs, FitBark, Tractive, Motorola, GoPro, Felcana, PetPace, Scollar, Link AKC, and Garmin. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.
Top Impacting Factors
Increased awareness of a pet's physical and mental wellness, increased acceptance of IoT, and increased demand for pet monitoring and technical improvements are all driving the growth of the pet wearable market opportunity. The pet wearable market is gaining traction as pet owners become more conscious of their pets' health. The rising popularity of adopting pets as companions for mental stability, fitness, and entertainment is driving up pet-care spending.
The global pet wearable market growth is expected to grow as awareness grows and wearables become more widely available. However, lack of public awareness is projected to be a major stumbling block to the global pet wearable market growth. The market will also be hampered by the gadget’s power consumption and low battery life.
New Product Launches to Flourish the Market
Whistle Labs, a subsidiary of Mars Petcare and industry leader in pet health, fitness, and location tracking, headquartered in San Francisco, California, announced Whistle FIT in January 2020, a preventative healthcare solution that uses its wellness programme for dogs to track a pet's important health behaviors, food consumption, and activity. It offers clients a simple and totally tailored experience for managing pet care by tracking a pet's essential health habits, food intake, and activity. Whistle Labs is primarily a service company that gives users with useful information that allows them to properly care for their pets.
Surge in Usage in Smart Collars and Sensor-Based Smart Harnesses
The smart pet collar is a gadget that links to a smartphone by Wi-Fi or Bluetooth and offers information about the pet, including its whereabouts, training activity, and more. Unlike the existing standard collar, it is a multi-purpose instrument. This collar allows pet owners to use GPS technology to follow their pets, connect with others via an LED display on the outside of the collar, and monitor, track, & receive information and alerts about their pet's wearable market. Pet owners will also be able to monitor various aspects of their pet's health.
One of the key development factors for the smart-connected pet collars market is the growing need for pet monitoring among working people. Attributed to their hectic lifestyles and lengthy working hours, pet owners' desire for smart-connected collars that allow them to communicate with their pets from their office is fast expanding.
Smart harness contains a variety of sensors and technology to detect and monitor the pet's posture, body language, and sounds. Physiological sensors in the smart harness monitor the pet's heart rate and body temperature. The sensors can provide information on a dog's mental condition, such as whether it is excited or stressed, in addition to tracking its physical well-being. The technology could be especially beneficial for guiding dogs and health monitoring.
For example, a Japanese business called Inupathy designed a harness-like device. It employs a sensor to analyze a dog's heartbeat fluctuation and has multicolored LEDs that indicate these creatures' emotional state. This enables owners to have a deeper understanding of their pets and establish a strong bond with them.
Key Benefits of the Report
- This study presents the analytical depiction of the pet wearable market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pet wearable market share.
- The current market is quantitatively analyzed to highlight pet wearable market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed pet wearable market analysis based on competitive intensity and how the competition will take shape in the coming years.
COVID-19 Impact Analysis
During COVID-19, the adoption rate of pets, particularly dogs, has been noted to be increasing. Pet adoption is on the rise, as the majority of the world's population works remotely, mostly from home, and pet owners may devote a significant amount of time to caring for their pets. Animal rescues and adoptions soared during the early days of the pandemic, according to an article published in CNBC 2020. During the COVID-19 pandemic, however, the need for immunization, neutering programmes, and frequent veterinary clinic visits have been regarded a barrier to continuing pet adoption. All these factors are hampering the growth of pet wearable market size globally
Questions Answered in the Pet Wearable Market Research Report
- Which are the leading players active in the pet wearable market?
- What are the detailed impacts of COVID-19 on the pet wearable market size?
- How current pet wearable market trends will influence the industry in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are projections for the future that would help in taking further strategic steps?
Pet Wearable Market Report Highlights
| Aspects | Details |
 By Product |
|
 By Component |
|
 By Region |
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 Key Market Players | KYON, Motorola, Num’Axes /EYENIMAL, Whistle Labs, Tractive, PetPace, FitBark, Link AKC, Scollar, Garmin |
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