Worldwide Pet Wearable Market – What are the main factors that contributing towards industry growth?

Technological advancements in pet wearable market to enable pet safety and health has been a fast-emerging trend. Sensors, RFID tracking devices, and GPS-based technologies have been the highlights to design pet wearable. As per reports, in 2016, the RFID technology dominated pet wearables market, subject to the rising trend of monitoring and tracking animal health. In 2014, i4C Innovations launched a health tracking dog collar called Voyce that was based on RFID technology. This dog collar allows the owners to monitor dog’s respiratory and heart rate, rest taken, calorie intake, and pattern of movements. Furthermore, the GPS-based pet wearable devices are also gaining popularity, owing to the rising demand for real-time positioning, safety, and security of pets. The GPS providers have entered into strategic alliance with manufacturers of application developers and smart phones to enable real time positioning and increase mapping portals.

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Pet Wearable Market was estimated to be over USD 1 billion by 2016 with the industry growth pegged at a CAGR of over 20% during the forecast timeframe. Rise in adoption of pets coupled with increase in disposable incomes in several North American households is anticipated to drive the pet wearable market over the coming years. Over 60% of the American homes own either a cat or a dog. The owners have increased their expenditure on pets by investing in wearable devices, as they help remotely monitor and control the pet’s health and fitness.

Regionally, U.S. experiences a strong hold in the overall pet wearable industry.  The escalating spending of the Americans on pets and companion animals have substantially driven pet wearable demand in this region. According to National Pet Owners Survey conducted by the American Pet Products Association over 2015-2016, almost 65% of the overall American households owned a pet, which itself is a testimony of the huge application scope of the regional pet wearable market. In fact, estimates depict that U.S. pet wearable industry held a billion-dollar business in 2016 and is slated to register a CAGR of 25% over 2017-2024. Furthermore, U.S. being one of the most technology affluent nations, the incorporation of wearable technology in monitoring pets’ activities is sure to upscale in the coming years, in turn providing a boost to pet wearable market share.

Worldwide, the industry is fiercely competitive with the engagement of major biggies like Fitbark, Whistle Labs Inc., Dairymaster, Scollar, DeLaval, and Nedap N.V. Manufacturers are highly optimistic toward the overall pet wearable market outlook and are investing more to innovate new products to address consumer expectations. Considering the fact that pet wearable is expanding its application scope with technology playing the pivotal role, the growth potential for pet wearable industry is forecast to be humongous in the coming years. 

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Glimpse of Table of Content (ToC)

Chapter 4    Pet Wearable Market, By Technology

4.1    Pet wearable market share by technology, 2016 & 2024

4.2    RFID devices

4.2.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.2.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

4.3    GPS

4.3.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.3.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

4.4    Sensor

4.4.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.4.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

4.5    Bluetooth

4.5.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.5.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

4.6    Others

4.6.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.6.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

Chapter 5    Pet Wearable Market, By Product

5.1    Pet wearable industry share by product, 2016 & 2024

5.2    Smart Collar

5.2.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.2.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

5.3    Smart Vest

5.3.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.3.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

5.4    Smart Harness

5.4.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.4.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)

5.5    Smart Camera

5.5.1    Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.5.2    Market estimates and forecast, by region, 2013 – 2024 (Thousand Units) 

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

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