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2020
Smart Connected Pet Collar Market

Smart Connected Pet Collar Market

by Pet Type (Cat and Dog) and Sales Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A06043
Pages: 162
Feb 2020 | 9187 Views
Author(s) : Himanshu Vig, Roshan Deshmukh
Tables: 79
Charts: 33
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The smart connected pet collar market size was valued at $322.7 million in 2018, and is expected to reach $653.5 million by 2026, registering a CAGR of 9.5% from 2019 to 2026. The dog segment registered the highest smart connected pet collars market share in 2018, and is expected to retain its dominance throughout the forecast period.

Smart connected pet collars are designed to monitor the temperature, heart rate, position, and location of pets through the means of wireless communication. These collars display all the necessary information it collected via mobile applications. They are specially designed for monitoring and tracking the location of pets. Furthermore, this information is also used by veterinarians to treat pets. 

Smart Connected Pet Collar Market

Over the past few years, upsurge in the expenditure on pet-related products has been witnessed. For instance, according to American Pet Product Association, the total expenditure of the U.S. on pet products is estimated to be around $75.4 billion in 2019, registering a robust CAGR of 4% for three-year analysis period. Food constituted the major market share for overall expenditure. Furthermore, surge in overall expenditure can be attributed to increase in disposable income, increase in overall pet ownership, and expansion of online channels. 

The concern regarding pet health has gained major importance since the past few years, owing to stringent government regulations and owners’ love toward their pets. For instance, as per the Queensland Government, the owners are required to register their pets in some council areas and provide their pets with appropriate food, shelter, and total care. The government also ensures complete animal welfare to provide utmost care, love, and best possible quality of life to them. Moreover, with rise in disposable income, the pet owners are capable of spending on monitoring and tracking of pets to minimize the risk of any possible animal diseases. 

The smart connected collars are now equipped with an alert system which notifies the owner when the pet suffers from seizures, owing to increase in prevalence of diseases in pets. This ensures real-time exchange of alerts; thereby, providing immediate treatment for pets. These smart connected pet collars are designed to detect, track, and log the pet heart rate continuously. The heart rate monitor is used for detection of any sort of abnormal heart rates. Furthermore, the temperature sensor and accelerometer are used for recording temperature and location of the pet. The GPS systems are also equipped with collars to easily locate pets if lost. Therefore, these collars are efficient tool for both pet owners and veterinarians to track, locate, and monitor health of pets.

Segment review

The global smart connected pet collar market is segmented on the basis of pet type, sales channel, and region. Depending on pet type, the market is bifurcated into cat and dog. Based on sales channel, it is studied across offline and online channels. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA 

Smart Connected Pet Collar Market
By Pet Type

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Cat segment would exhibit the highest CAGR of 10.0% during 2019-2026.

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Based on pet type, the global smart connected pet collar market is segmented into cat and dog. Dog segment accounted for the major market share; however, the cat segment is forecasted to grow with highest CAGR during the analysis period. Surge in popularity of smart connected products, owing to multiple advantages have resulted in increased demand for smart collars in developed regions. Moreover, extensive advertising and marketing, rise in consumer awareness regarding the smart technology, and increase in expenditure and pet products are expected to fuel the smart connected pet collar market growth.

Smart Connected Pet Collar Market
By Sales Channel

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Online segment would exhibit the highest CAGR of 10.6% during 2019-2026.

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Based on sales channel, the smart connected pet collar market is classified into offline channels and online channels. Online channels will continue to gain high traction in the upcoming years. Online channels provide greater benefits as compared to retail outlets. American, French, and Canadian pet parents are specially preferring e-commerce sales over traditional channel, owing to its several benefits, such as hassle-free shopping experience, varied options, and countless offers.

Smart Connected Pet Collar Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 12.3% during 2019-2026.

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Based on region, the smart connected pet collar industry is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share; however, Asia-Pacific region in estimated to grow with highest CAGR during the forecast period.

The report focuses on the growth prospects, restraints, and opportunities of the global smart connected pet collar market. The study provides Porters five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the smart connected pet collar market.
Some of the key players in the smart connected pet collar market analysis includes FitBark, Radio Systems Corporation, Tractive, PetPace, Eureka Technology Partners, LLC, Scollar, Wagz, Inc., KYON, Whistle Labs Inc., Fi. 

Key Benefits for Stakeholders:

  • The report provides an extensive analysis of the current and emerging trends and opportunities.
  • The report provides detailed qualitative and quantitative analysis of the current smart connected pet collar market trends and future estimations that help evaluate the prevailing market opportunities in the market.
  • Smart connected pet collar market forecast is offered along with information related to key drivers, restraints, and opportunities.
  • The smart connected pet collar market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Smart Connected Pet Collar Market Report Highlights

Aspects Details
By Pet Type
  • Cat
  • Dog
By Sales Channel
  • Offline Channels
  • Online Channels
By Region
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (UK, GERMANY, FRANCE, ITALY, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, INDIA, JAPAN, Australia & New Zealand, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players FitBark, Radio Systems Corporation, Tractive, PetPace, Eureka Technology Partners, LLC (Marco Polo), Scollar, Inc., Wagz, Inc, KYON LTD, MARS INC.( Whistle Labs Inc.), Fi.
 

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Recent years have seen increased cases of pets getting lost in both developed and developing countries. From the estimates of American Humane Association, in the U.S. 1 out of 3 pets gets lost at some point in their lifetime. Around 10 million cats and dogs are stolen or lost every year in the U.S. Furthermore, according to Coalition for Reuniting Pets and Families, around one in four lost pets in the region are reunited with their owners. As a result, smart connected pet collars have gained significant traction in the past few years. GPS location is a primary reason for getting smart connected pet tracker now. These trackers send alerts if pets are outside safe zones. Furthermore, these pet collars can calculate steps by pets, calories burned, distance travelled, sleep patterns, and also help monitor skin conditions. Multiple advantages of smart connected pet collars will result in its widespread adoption from the pet owners in the upcoming years.

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FREQUENTLY ASKED QUESTIONS?

A. The smart connected pet collar market is poised to grow with a CAGR 9.5% during the forecast period.

A. The global smart connected pet collar market was valued at $345.6 million in 2019, and is projected to reach $653.5 million by 2026.

A. Some of the leading players in the smart connected pet collar market analysis includes FitBark, Radio Systems Corporation, Tractive, PetPace, Eureka Technology Partners, LLC, Scollar, Wagz, Inc., KYON, Whistle Labs Inc., Fi.

A. Use of accelerometer, altimeter, heat sensor, water sensor, GPS, GSM, ultrasound buzzer are the latest trends in smart connected pet collar market.

A. The concern regarding pet health has gained major importance since few years and thus driving the market growth. Furthermore, venturing of market players into omnichannel distribution to provide lucrative opportunities for the engaged stakeholders.

A. Smart connected pet collars for dogs leads in terms of value market share.

A. Emerging country such as China are likely to grow with a CAGR of 12.1% during the forecast period.

A. The prevalence of smart connected pet collars is low in developing countries, however, with proliferating smart technologies in emerging region, smart connected pet collars market is expected to gain high traction in the upcoming years.

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