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Pet Wearable Market Future Scope Demands and Projected Industry Growths to 2026

Author : Ronak Bora | Published Date : 2020-09-03 

The pet wearable market based on application is bifurcated into behavior monitoring & control, fitness monitoring, identification & tracking, and medical diagnosis & treatment. The identification & tracking application segment held a market share of over 40% for identifying and tracking pets' location using smartphones.

The identification & tracking not only helps in people returning a lost pet but can also lead the owner straight to the wandering pet. By way of an app one could monitor their pet's activities of where they have gone or where they are hiding. Moreover, a smart collar and smart phone both are useful to keep track of pets.

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With respect to end-use, the pet wearable market is divided into commercial and household. The commercial end-use segment is likely to witness a CAGR of over 25.2% due to increasing need to monitor pets' activity, and health conditions among people.

Pet wearable market is segmented in terms of technology, product, application, end-use, and regional landscape. Based on technology, the market is categorized into sensors, RFID devices, Bluetooth, GPS, and others. Among these, the sensors technology segment will witness a CAGR of 23.4% as it collects and analyzes health & fitness related data such as sleep pattern, heart rate, and blood pressure in pets.

The sensors work in combination with the GPS tracker and RFID devices, since these are temperature-based sensors which monitor several health-related biometric data during the activities. Sensors collect information of the vital signs of the pet. They also analyze the data that has been collected, thereby alerting the signs of trouble if any. The activities of the pet therefore can be monitored by using smart phone.

With respect to product, the pet wearable market is classified into smart collar, smart vest, smart camera, and smart harness. Smart vest segment is likely to grow at a CAGR of over 23.5% due to integration of numerous technologies and sensors with pet wearables that can sense and monitor pets' behavior.

Citing an instance, a Thailand based advertising agency has generated a smart vest turning dogs into guardians of alleyways and streets in Bangkok. These smart vests are further equipped with hidden cameras, and sensors, transmitting live streaming videos when the dog barks or so.

Pet owners in Latin America are focusing on the safety and security of their pets. This is expected to propel the demand for these devices with GPS tracking and live positioning functionality. Increasing instances of pet abandonment in the region have resulted in mass awareness and stringent regulations on pet safety. For instance, Peru implemented initiatives, including a special registry for dogs and chip placement for misplaced pet search. This has further triggered the adoption of pet wearables in Latin America, particularly in Peru and Argentina.

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Major market players in the pet wearable market include Loc8tor, FitBark, Whistle Labs Inc., and IceRobotics, among others. Market players are expanding their product offerings to increase the market share. For instance, in July 2019, Whistle Labs, Inc., launched Whistle Go and Whistle Explore animal tracking devices. These devices can track the pets’ activities and inform the owner on their smartphone via Wi-Fi or Bluetooth.

Table of Contents (ToC) of the report:

Chapter 1    Methodology and Scope

1.1    Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2    Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2    Executive Summary

2.1    Pet wearable market 360° synopsis, 2016 – 2026

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

2.1.4. Technology trends

2.1.5. Application trends

2.1.6. End-use trends

Chapter 3    Pet Wearable Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2026

3.2.1. Number of pets, by region, 2019    North America    Europe    Asia Pacific    Latin America    MEA

3.3    Industry ecosystem analysis

3.3.1. Distribution channel analysis

3.3.2. Vendor matrix

3.4    Technology & innovation landscape

3.4.1. Impact of IoT

3.4.2. Artificial Intelligence (AI)

3.4.3. Facial recognition

3.5    Regulatory landscape

3.5.1. U.S.    U.S. Federal Trade Commission    Geolocation Privacy and Surveillance Act (GPS Act)    Affordable Care Act (ACA)    Veterinary Practice Act    National Animal Identification System, (NAIS)

3.5.2. Europe    EU Regulation 579/2013    Regulation (EC) No 1760/2000    Council Directive 92/102/EEC (EEC 1992)    The Italian Legislation

3.5.3. China    China Food and Drug Administration (CFDA)

3.5.4. Australia    Australian National Livestock Identification System (NLIS)    National Animal Identification System, (NAIS)    ISO and the Australian/New Zealand standards

3.6    Price trend analysis, 2016 – 2026

3.6.1. By product

3.6.2. By region

3.7    Industry impact forces

3.7.1. Growth drivers    Rising consciousness regarding medical diagnosis of pets in North America and Europe    Rise in number of pet tech start-up companies in Europe    Need for obligatory RFID tagging for farm animals in Australia    Rising disposable income in Asia Pacific countries    Urbanization and rise in popularity of pets in Latin America

3.7.2. Industry pitfalls & challenges    Power consumption and short battery life of devices    Lack of public awareness

3.8    Growth potential analysis

3.9    Porter's analysis

3.9.1. Supplier power

3.9.2. Buyer power

3.9.3. Threat of new entrants

3.9.4. Threat of substitutes

3.9.5. Internal rivalry

3.10    Competitive landscape, 2019

3.10.1    Strategic dashboard

3.11    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/pet-wearable-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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