Pet Wearables Market Global Industry Analysis, size, share and Forecast 2020-2027

 

The GMI Research expects the pet wearable market to expand at a higher rate. From a regional perspective, North America is projected to increase at a higher CAGR owing to the high adoption of companion animals, the growing disposable income, and the increasing per capita animal healthcare expenditure.

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Pet Wearable Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The rapid technological advancements in communication and sensor technologies is a key factor contributing to the growth of the global pet wearable market size. Moreover, the increasing spending on pets attributed to the rising disposable income in emerging countries will further pay the way for the growth of the market. The growing adoption of wearable technology due to its variety of applications, including identifying & tracking, monitoring behavior, safety & security, and diagnosing medical problems of pets. These devices aid pet owners in following the daily activities of their pets. In addition to this, the integration of various technologies, such as radio frequency identification (RFID) and GPS for enhancing the quality of life of companion animals, is further propelling the market growth. According to the pet wearable market report, the drastic shift towards the adoption of pets as companions for entertainment, fitness, and mental stability, which has raised the expenses on the well-being of pets. Furthermore, wearable technology enables the pet owner to monitor the health of their pets as it produces data for respiratory rate, heart rate, and food intake. These factors are bolstering the growth of the market during the forecast period.

Application the Segment Drivers

Based on the application, the identification & tracking is expected to rise at a faster CAGR in the upcoming years. This is majorly attributed to the aid of wearables which enables people to recognize strayed-off pets and return them to their owners. The major use of pet wearables, including smart collars, is tracking the whereabouts of pets with the use of GPS. In addition to this, it allows owners to trace the location of their pet animals in real-time by using their smartphones. These features are accelerating the growth of the segment.

Pet Wearable Market’s leading Manufacturers:

·         Avid Identification Systems, Inc.

·         SCR Engineers LTD.

·         Fitbark

·         Datamars

·         Intervet International B.V.

·         Garmin Ltd.

·         Invisible Fence

·         Loc8tor Ltd.

·         Link My Pet

·         PetPace LLC  

Pet Wearable Market Segmentation:

Segmentation by Technology:

·         RFID Devices

·         GPS

·         Bluetooth

·         Others

Segmentation by Application:

·         Medical Diagnosis & Treatment

·         Identification & Tracking

·         Behavior Monitoring & Control

·         Fitness Monitoring

Segmentation by Region:

·         North America

o   United States of America

o   Canada

 

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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